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SAN FRANCISCO, January 20, 2021 / PRNewswire / – The Global Aviation IoT Market Size Is Expected reach 22.51 billion USD by 2028, according to a new report from Grand View Research, Inc. It is expected to grow at a 21.4% CAGR from 2021 to 2028. The aviation industry is evolving tectonically towards automated and intelligent systems in line with continuous technological advancements. At this point, IoT (Internet of Things) devices are emerging as crucial devices for incumbent aviation industry operators to collect real-time data and derive actionable insights from it.
Main suggestions from the report:
- Improving the passenger experience and modernizing the existing airport infrastructure are expected to be the crucial factors responsible for the growing deployment of IoT-enabled solutions in the aerospace industry.
- The development of an Advanced Aircraft Health Monitoring System (AHMS) to monitor aircraft operation helps plan maintenance and identify component failures in advance to reduce risk and downtime aircraft maintenance.
- Major airline operators use cloud computing technology to store the large volumes of data generated from numerous sensors, thus opening opportunities for intercontinental air operators to analyze the data to derive information.
- IoT-enabled aircraft cabins have the potential to deliver personalized entertainment content, and some of the major airline operators have already adopted such IFE modules to retain passengers and increase ancillary revenue.
Read the 104-page research report with ToC on ‘Aviation IoT Market Size, Share and Trend Analysis Report by Application (Ground Operations, Passenger Experience, Flight Operations, Asset Management), by end use, by region and by segment, 2021-2028 “to: https://www.grandviewresearch.com/industry-analysis/aviation-internet-of-things-market
The aviation industry is constantly adopting a digital ecosystem and is subsequently ready to generate large volumes of data. The development of a newer version of the Internet Protocol (IP), Internet Protocol version 6 (IPv6), has already improved data processing capacity and overall functionality. The introduction of low-power L-band terrestrial networks to support 5G connectivity is expected to further improve data transfer capability, thereby encouraging the deployment of IoT-enabled devices in the aviation industry.
IoT is expected to play a critical role in weather forecasting as well as monitoring various aircraft systems in real time. Monitoring the weather using advanced sensors and analyzing collected weather data can help airlines make critical decisions in real time and choose alternative flight routes. Likewise, the deployment of sensors and IoT devices inside the aircraft can help monitor engine performance and, subsequently, reduce fuel consumption and improve profit margins.
Grand View Research has segmented the global aviation IoT market by application, end use, and region:
- Aviation IoT Applications Outlook (Revenue, USD Million, 2016-2028)
- Ground operations
- Passenger experience
- Aeronautical operations
- Asset Management
- Aviation IoT End-Use Outlook (Revenue, USD Million, 2016 – 2028)
- Airport
- Air operators
- MRO
- Aircraft OEM
- Regional Aviation IoT Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MY)
List of major players in the aeronautical IoT market
- Honeywell International, Inc.
- Tata Communication
- Cisco Systems, Inc.
- Huawei Technologies Co. Ltd.
- SITAONAIR
Find more research reports on Next Generation Technology Industry, by Grand View Research:
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About Grand View Research
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. With the help of an interactive business intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess the opportunities that lie ahead.
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