Market overview:
The IoT In Aviation Industry is projected to register a CAGR of approximately 6% from 2020 to 2027.
The IoT In Aviation Industry is booming with a constant rise in the number of passengers traveling by air. The number airlines operating throughout the world has also increased. Hence, airports are under constant pressure to maintain or improve safety, passenger handling, and operations. Therefore, to improve profitability and cater to rising passenger traffic, airports are increasingly using smart solutions such as IoT to achieve operational efficiency and cost reduction.
The global IoT In Aviation market has been segmented by technology, application, and region. Based on technology, the market has been segmented into sensing layer technology, network layer technology, and application layer technology. Sensing layer includes sensors, RFID, near-distance wireless communication, self-organizing network, middleware, and embedded systems.
Key Players:
The key players in the global airport IoT market are Amadeus IT Group (Spain), Cisco Systems, Inc. (US), Honeywell International Inc (US), Huawei Technologies Co., Ltd (China), IBM Corporation (US), Microsoft Corporation (US), SAP SE (Germany), Collins Aerospace (US), Siemens AG (Germany), SITAONAIR (Switzerland), Wind River Systems, Inc. (US), Accenture (US), and Amazon Web Services, Inc. (US).
Market Segmentation:
This study provides an overview of the global IoT In Aviation Industry , tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the growth opportunities for the next five years in each region. The scope of the study segments the global IoT In Aviation Industry by technology, application, and region.
By Technology
• Sensing Layer Technology
• Network Layer Technology
• Application Layer Technology
By Application
• Passenger Handling
• Security
• Operations
By Region
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Regional Analysis:
IoT In Aviation market insight By region, the global IoT In Aviation Industry has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America accounted for the largest market share in 2017 due to investments by the US government in the maintenance and modernization of airports. Moreover, the stringent regulations by the American Association of Airport Executives (AAAE), Airports Council International (ACI), and other associations to enhance aviation safety will positively impact market growth. In 2016, American Airlines spent nearly USD 25 million on easing congestion at various airports in the US. Such developments are expected to fuel market growth.
Europe is one of the key markets for airport IoT due to the development of international airports and increased air traffic in the region. Moreover, the high demand in the UK, France, Russia, and Germany contribute greatly to market growth. The availability of sophisticated technology and focus on research and development are expected to attract investments in airport IoT in the region. Moreover, London City Airport was the first in the world to test how IoT can change operational efficiency and passenger experience.
Asia-Pacific is expected to be the fastest-growing market during the review period. The need to enhance passenger experience is expected to result in rising investments in IoT solutions by airline operators and airports authorities. China dominates the airport IOT market in Asia-Pacific due to companies such as Air China, China Southern Airlines, and China Eastern Airlines investing heavily in the improvement of IoT solutions for airports and airlines in the country. Moreover, these companies are focused on lowering operational costs by incorporating satellite connectivity with IoT solutions.
The market in the Middle East & Africa is expected to register steady growth due to increasing passenger traffic in the region. To cater to the rising number of passengers, airlines are investing heavily in superior in-flight connectivity networks and focusing on reducing fuel consumption, improving aircraft efficiency, and enhancing passenger experience during baggage and security screening.
Related reports:
Industrial IoT Platform Market, By Component (Hardware, Software), By Application (Asset Management, Remote Monitoring, Network System Management), By Verticals (Manufacturing, Power and Utilities, Aviation, Oil and Gas) - Forecast 2020-2030
Airport RFID System Market Research Report: Information by Frequency (Low Frequency, High Frequency and Ultra-High Frequency), Application (Baggage Tracking, Flyable Parts Tracking, Inventory Management and others), Type (Product and Software) and Region (North America, Asia-Pacific, Europe, the Middle East & Africa and Latin America) - Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that prides itself on its services, offering comprehensive and accurate analysis with respect to various markets and consumers worldwide. Market Research Future has the distinguished goal of providing customers with optimal quality research and granular research. Our market research by products, services, technologies, applications, end users, and market players for global, regional, and national market segments, allows our customers to see more, learn more, and do more, helping to answer your most important questions
Contact:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor, New York, New York 10013,
United States of America
+1 646 845 9312