The most recent study conducted by Report Ocean, titled “Global Aviation analytics Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Aviation analytics. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global aviation analytics market is estimated at approximately USD 1.5 billion in 2019 and is anticipated to grow with a rate of more than 11.50% over the forecast period (2020-2027). Aviation Analytics offers software and services that assist airports to bring together their information so they can be managed in a organize and complete way by airport management. The growing competitiveness in the aviation industry is inspiring companies to install advanced data analytics to hold their market share on the universal platform.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Data analytics is valuable to aviation companies to attain operational profitability and high sales. Analytical solutions, such as profitability analysis, competitive analytics, forecast analysis, reliability analytics and sales analysis, enabled companies to organize, analyze, store, and retrieve huge amounts of data regarding the markets, along with various marketing and operational tasks.
Additionally, companies can keep track of customer behavior and preferences to stay ahead of the race and design their subscriptions based on organized analysis. According to Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflow in India’s air transport sector has reached USD 2.75 billion in the period of April 2000 and March 2020. The government has permitted 100% FDI for the automatic route in regional air transport service, scheduled air transport service, and domestic scheduled passenger airline. Moreover, Aviation industry in India is anticipated to witness USD 4.99 billion investment in by 2024. The Government is proposing to invest USD 1.83 billion for airport infrastructure development as well as aviation navigation services by 2026.
Also,according to International Air Transport Association (IATA), approximately 3.8 billion air travellers were recorded in 2016 and it is expected that 7.2 billion passengers would travel in 2035. However, Skilled experts are required to manage aviation analytics, as huge amount of data is generated through these analytics that need to be professionally analyzed. Hence, the lack of skilled experts is one of the prime the few factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the structured cabling market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is expected to dominate the market share during the forecast period due to existence of various aviation analytics service providers in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increase in aircraft distributions in the region are anticipated to help in the market growth of the aviation analytics marketin the Asia-Pacific region.
Major market player included in this report are:
IBM Corporation (US)
IFS (Sweden)
Ramco Systems (India)
Rusada (Switzerland)
SAP (Germany)
Swiss Aviation Software (Switzerland)
Lufthansa Technik (Germany)
General Electric (US)
Honeywell International (US)
SAP SE
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Services
Solutions
By Deployment:
On premise
Cloud
By Business Function:
Finance
Operations
Maintenance & Repair
Others
By Application:
Flight Risk Management
Fuel Management
Rout Management
Others
By end-user:
OEMs
Airlines
Airports
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
ROE
APAC
Latin America
Brazil
Mexico
Rest of the World
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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