Market Overview:
The big data analytics in aerospace & defense market industry is projected to grow from USD 19.76 Billion in 2023 to USD 28.33 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.60% during the forecast period (2023 - 2032). Big data analytics refers to the analysis of large volumes of structured and unstructured data to derive actionable information. Data helps provide a better experience, making the aerospace & defense customer part of the value chain by understanding what they want. Aerospace & defense organizations, including militaries and air transport service providers, are using data analytics for predictive maintenance, vehicle and performance tracking, weather forecasting, route planning, and to increase reliability, improve arrival times (on-time percentages), streamline and automate processes, increase efficiencies, and save money.
Big data analytics in the aerospace & defence market growth helps the aviation and guard industry improve assets and business measures while advancing new business openings. The aeronautic business trade is going through a huge change, convincing aviation OEMs to seek better approaches to serve the commercial center. The new and generally unexploited resource OEMs would now be able to outfit and upgrade data.
Key players:
The key players in the global big data analytics in the aerospace & defense market are Cyient (India), Accenture (Ireland), Airbus Defense and Space (Munich), IBM (US), Teradata Corporation (US), Amazon (US), Microsoft Corporation (US), Google (US), Cisco Systems (US), SAS Institute (US), and SAP SE (Germany).
Segmental Analysis:
On the basis of solution, the Big data analytics in the aerospace & defence market industry has been segmented into predictive maintenance, vehicle and performance tracking, weather forecasting, route planning, aftermarket, and others.
Based on technology, the global big data analytics in the aerospace & defense market has been classified as apps and analytics, cloud, computer, infrastructure software, networking, NoSQL, professional services, SQL, and storage.
By application, the global big data analytics in the aerospace & defense market has been divided into defense, commercial aerospace, and space. Apart from capturing real-time data from sources such as mobile devices, social media, sensors, log files, and transactional applications, big data analytics delivers a wealth and variety of mission-critical data for warfare. The big data techniques used by businesses to mine databases are being adopted by the military to glean more information from the many different types of data it collects from drones, automated cybersecurity systems, terrorist databases, and many other sources. The technology is expected to help soldiers on the battlefield and lead to enhancements in areas ranging from software development to vehicle maintenance.
On the basis of deployment mode, the global big data analytics in the aerospace & defense market has been categorized as on-premise and on-demand. The use of data as a marketable service is emerging considering its availability and the new service-oriented business models in the aerospace & defense industry. Data captured from the monitoring of major systems on an aircraft such as engines, avionics, and electrical can be fed into predictive maintenance models to forecast which parts and skills need to be deployed when, before failure. Fuel monitoring can be analyzed to make smarter fueling decisions, be they on the ground or at the procurement officer’s desk. Other data can help ascertain how different flying conditions affect engine performance and repair priorities. These types of insights are valuable to airline operators.
Regional Analysis:
Based on region, the global big data analytics in the aerospace & defense market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The North American market is expected to grow exponentially during the forecast period. Investments by the US government in digital defense infrastructure are expected to propel market growth in the country. The high level of sophistication and advancements in technology and high budgets for the US military are expected to drive the demand for big data analytics.
In Asia-Pacific, the Governments of China, India, and Japan have invested heavily in digital defense infrastructure, thereby, stimulating market growth in the region.
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