The global aviation analytics market size was valued at USD 4 billion in 2022 and is expected to surpass USD 8 billion by 2030, registering a CAGR of 9.8% during the forecast period (2023- 2030), as highlighted in a report published by Zion Market Research.
NEW YORK, United States, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Aviation Analytics Market By Component (Services And Software), By Business Function (Maintenance, Repair & Operations, Sales & Marketing, Supply Chain, And Finance), By Application (Customer Analytics, Flight Risk Management, Fuel Management, Revenue Management, Inventory Management, And Navigation Services), By End-User (Airlines, Airports, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the global aviation analytics market size was valued at around USD 4 billion in 2022. The market is expected to grow at a CAGR of 9.8% and is anticipated to reach USD 8 billion by 2030.”
Aviation Analytics Market Overview:
Most organizations have adopted aviation analytics because these solutions help them improve their operational performance, maintenance, and profitability. In order to meet future demands, such as customer requirements, organizations are employing aviation analytics, which improves analytical resolution and maximizes operating revenue.
Fuel management, revenue management, customer analytics, and risk management are among the numerous applications for which aviation analytics solutions are utilized in the aviation industry. The solutions of aviation analytics provide businesses with the means to monitor, evaluate, and analyze their business objectives, challenges, and future plans for expansion.
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Key Insights from Primary Research
The global aviation analytics market is anticipated to grow rapidly over the forecast timeline owing to an increase in the demand for real-time data analytics in the aviation sector.
In terms of component, the software segment is slated to register the highest CAGR over the analysis period.
Based on business function, the finance segment is expected to dominate the segmental growth over the assessment timeline.
Based on end-user, the airlines segment is expected to lead the segmental expansion over the projected timeframe.
Region-wise, the North American aviation analytics industry is projected to register the fastest CAGR during the assessment timeline.
The report contains qualitative and quantitative research on the global Aviation Analytics market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global Aviation Analytics market include;
Aviation Analytics Ltd.
Booz Allen Hamilton
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Aviation Analytics Market: Growth Factors & Restraints
Rise in the demand for real-time data analytics in the aviation sector will boost the global market trends
Vendors of aviation analytics are concentrating on augmenting their analytics and intelligence solutions in order to increase their business's profitability, which may prove to be a significant factor in the growth of the global aviation analytics market. The global expansion of the market will be driven by consumers' growing interest in using aviation fuel. In addition, a rise in demand for real-time data analytics in the aviation industry will fuel the global expansion of the market. Moreover, effective management of real-time data, such as aircraft maintenance, navigation database, and flight operations, is likely to promote market trends worldwide. Global market growth will be bolstered by the widespread use of artificial intelligence and big data for mechanical analysis and productivity enhancement. In the coming years, strategic alliances, joint ventures, and partnerships are anticipated to play a crucial role in extending the global market's growth potential.
Less availability of analytical skills among the workforce can put brakes on the global industry surge over 2023-2030
The lack of availability of analytical skills is the key challenge that is faced by the players in the aviation analytics business. This, in turn, is predicted to halt the expansion of the aviation analytics industry globally.
Aviation Analytics Market: Segmentation
The global aviation analytics market is sectored into component, business function, application, end-user, and region.
In component terms, the global aviation analytics market is segregated into services and software segments. Furthermore, the software segment, which gathered nearly 53% of the global market revenue share in 2022, is projected to register the fastest CAGR in the ensuing years.
Based on the business function, the global aviation analytics industry is sectored into maintenance, repair & operations, sales & marketing, supply chain, and finance segments. Moreover, the finance segment, which amassed a huge chunk of the global industry revenue share in 2022, is projected to lead the global industry over the analysis timeline.
Based on the end-user, the aviation analytics market across the globe is divided into airlines, airports, and others. Moreover, the airlines segment, which accumulated nearly 45% of the global market revenue share in 2022, is projected to lead the end-user space in the ensuing years.
Based on the application, the aviation analytics industry globally is bifurcated into fuel management, customer analytics, inventory management, flight risk management, revenue management, and navigation services segments.
Browse Complete Report Here | Aviation Analytics Market By Component (Services And Software), By Business Function (Maintenance, Repair & Operations, Sales & Marketing, Supply Chain, And Finance), By Application (Customer Analytics, Flight Risk Management, Fuel Management, Revenue Management, Inventory Management, And Navigation Services), By End-User (Airlines, Airports, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030
Asia-Pacific is projected to maintain global market domination over the assessment timeline
Asia-Pacific, which accounted for approximately two-fifths of the global aviation analytics market's revenue in 2022, is projected to lead the global market's revenue in the coming years. A notable increase in aviation travel in countries such as India and China is largely responsible for the expansion of the regional market. In addition, the region's thriving civil aviation industry will further bolster regional market trends.
Due to the extensive presence of key actors in countries such as Canada and the United States, the North American aviation analytics industry is projected to record the highest CAGR in the coming years. Aside from this, the regional industry trends will be determined by the increased implementation of industrial aviation analytics by businesses in the United States to improve operational performance.
Market Size in 2022
USD 4 Billion
Market Forecast in 2030
USD 8 Billion
CAGR of 9.8%
Key Companies Covered
Oracle Corporation, Aviation Analytics Ltd., General Electric, SAS Institute, Booz Allen Hamilton, Ramco International, IBM Corporation, SAP SE, Mu-Sigma., and others.
By Component, By Business Function, By End-User, By Application, and By Region
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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The global Aviation Analytics market is segmented as follows:
By Business Function
Repair & Operations
Sales & Marketing
Flight Risk Management
Rest of Europe
Rest of Southeast Asia
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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Key questions answered in this report:
What is the market size and growth rate forecast for Aviation Analytics industry?
What are the main driving factors propelling the Aviation Analytics Market forward?
What are the leading companies in the Aviation Analytics Industry?
What segments does the Aviation Analytics Market cover?
How can I receive a free copy of the Aviation Analytics Market sample report and company profiles?
Full in-depth analysis of the parent market
Important changes in market dynamics
Segmentation details of the market
Former, on-going, and projected market analysis in terms of volume and value
Assessment of niche industry developments
Market share analysis
Key strategies of major players
Emerging segments and regional markets
Testimonials to companies in order to fortify their foothold in the market
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