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IoT in Aviation Market touched USD 729 million in 2020 and is expected to grow at a CAGR of 22.3% during the forecast period 2021-2028 | Research Report Size, Share, Growth & Analysis

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IoT in Aviation Market touched USD 729 million in 2020 and is expected to grow at a CAGR of 22.3% during the forecast period 2021-2028 | Research Report Size, Share, Growth & Analysis

July 02
20:58 2022
IoT in Aviation Market touched USD 729 million in 2020 and is expected to grow at a CAGR of 22.3% during the forecast period 2021-2028 | Research Report Size, Share, Growth & Analysis
IoT in Aviation Market
IoT in Aviation Market reached USD 729 million in 2020, and the market is projected to grow at a whopping CAGR 22.3% during the forecast period (2021-2028).

The factors driving the growth of IoT in Aviation Market includes growing demand to improve passengers experience, increasing application of Internet of Things to collect large amounts of data and technological advancements in the wireless network technology. Moreover, the increasing adoption of intelligent technologies such as Internet of Things and Artificial Intelligence by airport authorities for analyzing statistical summaries, are some of the key factors augmenting the IoT in Aviation Market size. In addition, the increasing inclination for automation systems and growing application of Internet of Things for aircraft monitoring and improving the MRO Services, are some of the additional factors boosting the market growth. The rising number of passengers flights, increasing number of smart airports and emerging need to manage luggage inside the airports, are boosting the demand for IoT technology in the Aviation industry.

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However, the growth of IoT in Aviation Market is hindered due to growing concerns related to data privacy and security.

The leading players operating in the market are Microsoft Corporation, Huawei Technologies Co. Ltd, Blip Systems, SITAONAIR, Tata Sons, IBM Corporation, Honeywell International Inc, Cisco Systems Inc, Amadeus IT Group and Arrow Electronics, Inc. among others.

End-Market: Segment Analysis

Based on end-market, the airline segment is projected to grow at a steady CAGR over the forecast period because the incorporation of IoT helps in minimizes some of the common customers problems like lost bags and flight delays.

Component: Segment Analysis  

Based on component, the service segment is projected to expand at a remarkable CAGR during the forecast period attributed to emerging demand for network management services.

Application: Segment Analysis

Based on application, the fleet management segment is expected to grow at a promising CAGR over the forecast period because IoT services helps in fuel management and routing the flights.

Regional: Segment Analysis

Based on region, the North American region is estimated to expand at a remarkable CAGR over the forecast period attributed to increasing focus on improving the current airport infrastructure and growing passenger traffic.

In contrast, the Asia-Pacific region is predicted to lead the market over the forecast period owing to increasing Government expenditure on the development of new airports, as per the report published by Mint, the Government of India is planning to build 33 new domestic cargo terminals and targets to integrate 220 new airports by the end of 2025.

 

Market Segmentation

Global IoT in Aviation Market by End Market

                              • Airlines

                              • Airports

                              • MROs

                              • Manufacturers

Global IoT in Aviation Market by Component

                              • Solution

                              • IoT Devices

                                                 • Sensors & Actuators

                                                 • Beacons

                                                 • IoT Gateway & Networking Devices

                                                 • Processors

                                                 • Tags

                                                 • Cameras

                              • IoT Platforms

                                                 • IoT Solutions

                                                 • Software & Applications

                              • Service

                              • Managed Services

                              • Professional Services

Global IoT in Aviation Market by Application

                              • Ground Operations

                              • Passenger Processing

                              • Baggage Tracking

                              • Airport Maintenance

                              • Security & Surveillance

                              • Ground Handling

                              • Location-based Navigation & Alerts

                              • Passenger Experience

                              • In-Flight Communication

                              • Personalized Customer Service

                              • Connected Cabin

                              • Asset Management

                              • Fleet Management

                              • Crew Management

                              • Aircraft Maintenance

                              • Aircraft Manufacturing

                              • Air Traffic Management

 Global IoT in Aviation Market by Region

           • Asia Pacific

                    o China

                    o Japan

                    o India

                    o Rest of APAC

           • North America

                    o United States of America

                    o Canada

           • Europe

                    oUnited Kingdom

                    o Germany

                    o France

                    o Spain

                    o Rest of Europe

           • RoW

                    o Brazil

                    o South Africa

                    o Saudi Arabia

                    o UAE

 

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