Honeywell International, Inc. (US),IBM Corporation (US),Ramco Systems (India),Oracle (US),Boeing (US),Airbus SAS (Netherlands),SAP (Germany),General Electric (US),SAS Institute Inc. (US),Booz Allen Hamilton Inc. (US)
Other Prominent Players
Aviation Analytics (UK),GrayMatter Software Services Inc (US),Mu Sigma (India),Mercator Group (Chile),Embraer (Brazil),Microsoft (US),Lufthansa Technik (Germany),IFS AB (Sweden),Rolls-Royce plc (UK)
Global Aviation Analytics Market is projected to be valued at USD 22,195 Million by 2030, registering a CAGR of 17.5% from 2019 to 2030.
The rising need for energy and process optimization to maximize revenue and smoothen operations has significantly contributed to the expansion of the aviation analytics market. High competition owing to the presence of several players in the market has led aviation analytics providers to focus on innovation. Furthermore, increasing investments by aircraft OEMs in the aviation analytics market is expected to drive market growth. For example, in June 2019, Embraer launched IKON, a cloud-based system for analyzing and storing aircraft data.
However, the issues associated with cybersecurity and data management might hamper the growth of the market.
Growing demand for real-time analytics in the aviation industry
Growth Opportunities in the Market
- Sales & marketing segment to register the highest growth rate: The sales & marketing segment is expected to exhibit the highest CAGR during the forecast period of 2019 to 2030. The rising demand for enhanced travel experience by passengers is expected to drive the growth of the segment. Airlines can base their sales and marketing strategies and revenue models on the data generated by aviation analytics solutions to increase profits, enhance customer experience, and gain a competitive edge.
- Customer analytics segment is expected to be the fastest-growing: The customer analytics segment is expected to register the highest CAGR during the forecast period of 2019 to 2030. Aviation analytics solutions enable airline operators to maximize revenue and offer customer-centric services by providing real-time insights about customer behavior.
- Airlines segment expected to register the higher CAGR: The airline’s segment is expected to exhibit a higher growth rate during the forecast period. Increasing investments by airlines in the aviation analytics market is expected to drive the growth of the segment. For example, in June 2019, Kenya Airways signed a contract with General Electric to procure an aviation analytics solution. The contract enabled the airline to streamline operations, offer enhanced services to customers, and optimize fuel management.
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