The global airline technology integration market is expected to see striking growth by 2031, due to the rising applications of airline technology integration in the aviation sector. Regionally, the North America region is expected to be dominant.
NEW YORK, May 2, 2023 /PRNewswire/ —
Global Airline Technology Integration Market Forecast Analysis:
As per the report published by Research Dive, the global airline technology integration market is expected to generate a revenue of $89,130.4 million and grow at a noteworthy CAGR of 15.90% during the forecast period from 2022 to 2031.
Segments of the Airline Technology Integration Market
The report has divided the market into the following segments:
Technology: internet of things (IoT), cybersecurity, artificial intelligence, advanced analytics, biometrics, blockchain, wearable technology, and others
Artificial Intelligence – To have the Fastest Growth by 2031The increasing integration of artificial intelligence across various sectors such as customer service, airport, and flight operations is predicted to foster the growth of the market sub-segment forward.
Offering: software and hardware
Software – Most dominant in 2021
The increasing use of airline software systems to support airline discipline by circulating consistent data across multiple business units that enable better decision-making is expected to push the sub-segment further.
Deployment: on-premises and cloud
On-Premises – Held the highest market share in 2021
The increasing deployment of on-premises solutions in airline analytics products and services to increase performance by reducing downtime and costs is expected to fuel the growth of the market sub-segment during the analysis period.
Region: North America, Europe, Asia-Pacific, and LAMEA
North America – Expected to hold the largest market share by 2031The increasing spending on the development of airline technology integration-powered airplanes by the leading market players across the region is predicted to drive the regional growth of the market in the coming period.
Dynamics of the Global Airline Technology Integration Market
The increasing use of artificial intelligence and cutting-edge data management systems in the aviation industry to increase efficiency is expected to foster the growth of the airline technology integration market over the analysis timeframe. Besides, the increasing integration of machine learning algorithms in airline systems to alert customers in advance regarding probable flight delays, incorporate more streamlined information for travelers and change customer expectations are expected to bolster the growth of the market over the forecast period. However, the growing autopilot failures may hinder the growth of the market throughout the estimated period.
The increasing advancements in technology in the aviation sector such as the implementation of the Internet of Things (IoTs) and big data analytics to revolutionize aviation travel are expected to create excellent growth opportunities for the airline technology integration market during the forecast timeframe.
Covid-19 Impact on the Global Airline Technology Integration Market
The rise of the Covid-19 pandemic has caused several uncertainties across various industries. It has also had a negative impact on the airline technology integration market. This is mainly due to the significant drop in passenger traffic during the pandemic period. Moreover, the strict government restrictions on travel and the decrease in the number of flights have further declined the market over the crisis.
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Key Players of the Global Airline Technology Integration Market
The major players of the market include
IBM
Honeywell International Inc.
L3Harris Technologies
General Electric
Lufthansa Technik
Collins Aerospace
Oracle
Boeing
SAP SE
Airbus
These players are mainly working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to gain a leading position in the global industry.
For instance, in August 2022, AirAsia India, a leading Indian-based Airline Company announced its collaboration with CAE Inc., a Canadian manufacturer of simulation technologies. With this collaboration, AirAsia India would become the first airline AirAsia India to adopt a data-driven training program by using the CAE Rise training system.
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What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter’s five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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