Aviation Analytics Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Component (Services, Solutions), By Deployment (Cloud, On-premise), By Business Function (Finance, Operations, Maintenance and Repair, Sales and Marketing, Supply Chain, Others), By Application (Flight Risk Management, Fuel Management, Rout Management, Fleet Management, Inventory Man
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAviation Analytics Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Component (Services, Solutions), By Deployment (Cloud, On-premise), By Business Function (Finance, Operations, Maintenance and Repair, Sales and Marketing, Supply Chain, Others), By Application (Flight Risk Management, Fuel Management, Rout Management, Fleet Management, Inventory Man
The global aviation analytics market is predicted to proliferate during the forecast period due to the growing adoption of data analytics by the enterprises to manage massive amount of data from a variety of sources, such as flight operations, passenger records, and aircraft maintenance. The use of cloud-based solutions to improve business continuity is a significant factor in the market's expansion. In addition, the growing demand for air travel and increasing focus on customer experience are propelling the growth of aviation analytics in the global market.
Aviation analytics is a computational mechanism that utilizes the data and information for examining the effectiveness and wellbeing of aeronautical business. It assists organizations in collecting, investigating, and interpreting information from different sources while providing information on historical airport operational data, real-time flight analysis, weather forecasts, and flight data. Aviation analytics is a powerful tool that can be used to improve the safety, efficiency, and customer experience of the aviation industry. In addition, these analytics can be used to improve a variety of aspects of the aviation industry, such as aircraft maintenance, airport operations, flight operations and passenger experience. As the aviation industry continues to evolve, aviation analytics will play an increasingly significant role in ensuring the safety and efficiency of air travel. Major advantages such as mitigation of risk to prevent the mishappenings, cost reduction, improvement in the efficiency of aviation, optimization of flight schedules, effective traffic flow management are enabling the end users to rely on aviation analytics. Moreover, airlines are using analytics to predict the demand for flights and avoid overbooking flights. Manufacturers are adopting this software as an effective solution to design the aircraft safer and more efficient. As the service providers are continuously advancing the analytical software
The Growing Adoption of Data Analytics in the Aviation industry
The aviation industry has been showcasing technological adoption and advancements for so many years. With the advent of digitalization, airports and airlines are utilizing big data and analytics to manage found at information for improving their products, services and sustain smart decision-making. Every day the aviation industry, specifically airlines generate large amounts of data from a variety of sources such as passenger data, flight data, weather data, etc. These data can be helpful for understanding the aspects of flight operations and aircraft maintenance by identifying & mitigating risk, optimizing flight schedules, reducing delays, identifying potential problems, predicting failures and regular scheduling maintenance. The data analytics-based solution is so adaptable that representatives can access passenger's information in real time and improve planning and strategically align decision making. Additionally, the solutions remove the requirement for agents or representatives to be present in offices round-the-clock. For instance, customers are using these solutions in airlines to identify weather patterns that are likely to cause delays, which are helpful to adjust the flight schedules accordingly. Moreover, these analytics solution in the airlines have the potential to identify the risk associated with mechanical issues and unplanned maintenance. Therefore, as the steps to prevent these risks are increasing, more and more analytics solutions are being adopted to enhance the airlines and airport industry. Additionally, new data analytics technologies are being fostered that can help airlines, airports, and aircraft manufacturers to pursue better choices with their information. Due to this, businesses are having the advantages to make long-term investments in advancing the analytics for more effectively enhancing the information. As a result, the demand for aviation analytics is expected to rise significantly over the forecast period due to all these factors. Therefore
The Rising Focus on Customer Experience is
The rising focus on customer experience is one of the key factors driving the growth of the global aviation analytics market. Businesses are increasingly seeking to automate their customer service operations to improve efficiency, reduce costs, and provide a better customer experience. Automated client services can help businesses to improve the efficiency of their customer service operations by freeing up agents to focus on more complex issues. To create long-term value for the business, executives in charge of customer service are required to maintain closer ties with customers enabling in the reduction in congestion at airports. In addition, enterprises are required to concentrate on preserving their present audience if they want to ensure brand loyalty. Enhancing the travel experience in the process can aid in improving the customer experience by providing customers with 24/7 access to support and reducing the time it requires to resolve issues. Due to this, enterprises are integrating automated client services to cut down on the time spent while answering typical customer inquiries and instead utilizing that time to address more complicated issues and interaction with new customers. For instance, artificial intelligence (AI)-powered chatbots and social media management systems are increasing in demand to resolve customer issues rapidly. Chatbots can be used to answer frequently asked questions, and self-service portals can be used to allow customers to resolve their own issues without having to speak to a live agent. Thus, rising focus on customer experience is proliferating the growth of global aviation analytics market in the forecast period.
The Increasing Demand for Flights or Air Travel boosting Aviation Analytics
Recent Developments
On March 30, 2023Cirium Ltd., an aviation analytics company recently unveiled its newest advanced bookings technology tool based on satellite-based flight tracking. With the release of new tools, businesses can identify areas of aircraft demand where airlines are expanding and decreasing their network in order to account for development opportunities and risks in decision-making.
On April 06, 2023Spire Global Inc., a space-based data, space services and analytics company announced the long-term agreement with Switzerland-based ch-aviation. The company’s long-term agreement will further enable ch-aviation to provide the best solutions for global aircraft fleet and airline operational performance insights that will enhance its airline intelligence database. The agreement incorporates admittance to Spire’s daily Flight Report, which totals hundreds of millions of satellites and earthbound ADS-B positions to give actionable flight, aircraft, and airline metadata.
On June 29, 2022LexisNexis Legal & Professional, leading providers of legal, regulatory, and business information and analytics solutions announced the launch of flight status data tracking using chainlink node. The new launch enables smart contract innovation and supports the growing adoption of blockchain-based specialty insurance solutions
Market Segmentation
Company Profiles
International Business Machine Corporation (IBM),
Attribute | Details |
Base Year | 2022 |
Historical Years | 2018 – 2021 |
Estimated Year | 2023 |
Forecast Period | 2024 – 2028 |
Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F |
Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered | Component Deployment Business Function Application End User |
Regional Scope | Asia-Pacific, North America, Europe, Middle East & Africa, and South America |
Country Scope | China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Qatar, Saudi Arabia, UAE, South Africa, Brazil, Argentina, Colombia |
Key Companies Profiled | International Business Machine Corporation (IBM), General Electric Company, Honeywell International, IGT Solutions Pvt. Ltd., OAG Aviation Worldwide Limited, Oracle Corporation, Ramco Systems Limited, SAP SE, SAS Institute Inc, Accelya Group (Vista Equity Partners) |
Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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