PRN: Aviation IoT Market Size Worth $22.51 Billion By 2028 | CAG 21.4%: Grand View Research, Inc.

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Aviation IoT Market Size Worth $22.51 Billion By 2028 | CAGR: 21.4%: Grand View Research, Inc.

 
[20-January-2021]
 

SAN FRANCISCO, Jan. 20, 2021 /PRNewswire/ -- The global aviation IoT market size is anticipated to reach USD 22.51 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 21.4% from 2021 to 2028. The aviation industry is tectonically shifting toward automated and intelligent systems in line with the continued advances in technology. At this juncture, IoT (internet of things) devices are emerging as crucial devices for the incumbents of the aviation industry to gather real-time data and derive actionable insights.

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Key suggestions from the report:

  • Enhancement of passenger experience and modernization of the existing airport infrastructure are expected to be the crucial factors responsible for the surging deployment of IoT-compatible solutions across the aerospace industry
  • Development of an advanced Aircraft Health Monitoring System (AHMS) for monitoring aircraft operation helps predict maintenance and identify the failure of components in advance to reduce the risks and downtime of aircraft maintenance
  • Key airline operators are utilizing cloud computing technology to store the large volumes of data generated from numerous sensors, thereby opening opportunities for intercontinental airline operators to analyze the data for deriving insights
  • IoT-enabled aircraft cabins can potentially offer personalized entertainment content and some of the prime airline operators have already adopted such IFE modules to increase passenger loyalty and enhance ancilla! ry revenu es

Read 104 page research report with ToC on "Aviation IoT Market Size, Share & Trends Analysis Report By Application (Ground Operations, Passenger Experience, Aircraft Operations, Asset Management), By End-use, By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/aviation-internet-of-things-market

The aviation industry is continuously adopting a digital ecosystem and is subsequently set to generate large volumes of data. The development of a more recent version of the Internet Protocol (IP), Internet Protocol version 6 (IPv6), has already improved the data handling capability and the overall functionality. The introduction of low-power terrestrial networks in L-band to support 5G connectivity is expected to further enhance the data transfer capacity, thereby encouraging the deployment of IoT-compatible devices in the aviation industry.

IoT is expected to play a critical role in weather forecasting as well as monitoring various systems of the aircraft in real-time. Monitoring the weather using advanced sensors and analyzing the gathered weather data can help airlines in making crucial decisions in real-time and choosing alternative flight routes. Similarly, deploying IoT sensors and devices inside the aircraft can help in monitoring engine performance and subsequently reducing fuel consumption and improving the profit margins.

Grand View Research has segmented the global aviation IoT market by application, end-use, and region:

  • Aviation IoT Application Outlook (Revenue, USD Million, 2016 - 2028)
    • Ground Operations
    • Passenger Experience
    • Aircraft Operations
    • Asset Management
  • Aviation IoT End-use Outlook (Revenue, USD Million, 2016 - 2028)
    • Airport
    • Airline Operators
    • MRO
    • Aircraft OEM
  • Aviation IoT Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
    • Asia Pacific
      • China
      • Japan
    • La tin America
    • Middle East & Africa (MEA)

List of Key Players of Aviation IoT Market

  • Honeywell International, Inc.
  • Tata Communication
  • Cisco Systems, Inc.
  • Huawei Technologies Co. Ltd.
  • SITAONAIR

Find more research reports on Next Generation Technologies Industry, by Grand View Research:

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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