USD 2.91 billion
Report ID: SQMIG20W2004 | Region: Global | Published Date: May, 2023 | Pages: 157 | Tables: 66 | Figures: 75
Global Aviation Analytics Market size was valued at USD 2.91 billion in 2021 and is projected to grow from USD 4.10 billion in 2022 to USD 13.57 billion by 2030, exhibiting a CAGR of 16.13% during the forecast period (2023-2030).
The global aviation industry has witnessed a significant transformation over the years, with advancements in technology and the increasing availability of data. This has led to the emergence of aviation analytics, a powerful tool that enables airlines and aviation companies to leverage data-driven insights for enhancing operational efficiency, improving safety, optimizing costs, and enhancing customer experience. The aviation analytics market is experiencing rapid growth, driven by the increasing adoption of analytics solutions by airlines, airports, and other stakeholders in the aviation ecosystem. The market is fueled by the need to effectively manage and utilize the massive volume of data generated in the aviation industry. Analytics solutions offer valuable insights into various aspects of aviation operations, including flight operations, maintenance and repair, fuel management, revenue management, and customer analytics.
Aviation encompasses all operations associated with the aircraft industry and mechanical flight. The term analytics refers to the systematic computer examination of statistics or data. Aviation analytics is a computational tool that provides end-users with information or statistics from past airport operating data, historical flight data, weather predictions, and real-time flight data. It enables predictive analysis and query processing of large amounts of aviation data. It mostly provides predictions or solutions based on huge amounts of structured and unstructured aviation data.
Global Market Size
USD 2.91 billion
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The market can be segmented based on the type of analytics solution, which includes predictive analytics, descriptive analytics, prescriptive analytics, and diagnostic analytics. Furthermore, the market can be categorized based on application areas, such as fuel management, route optimization, revenue management, customer analytics, maintenance and repair, and others. Each segment presents unique opportunities and challenges, and the report provides an in-depth analysis of each segment. Based on region, the market is segmented into North America, Latin America, Europe, and MEA.
Analysis By Analytics Solution
This segment focuses on leveraging historical data and advanced algorithms to forecast future events and trends in the aviation industry. Predictive analytics helps airlines and aviation companies predict maintenance needs, flight delays, and passenger demand. By identifying potential issues in advance, airlines can make proactive decisions to minimize disruptions and optimize operational efficiency.
Analysis by Application Area
Fuel management analytics focuses on optimizing fuel consumption and reducing costs by analyzing fuel data, flight patterns, and engine performance. It helps airlines identify fuel-saving opportunities, reduce emissions, and enhance sustainability efforts.
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North America with the presence of major airlines and advanced technological infrastructure, North America is a significant market for aviation analytics. The region focuses on operational efficiency, safety, and enhancing the passenger experience through analytics solutions.
Europe is experiencing substantial growth in aviation analytics as airlines strive to optimize costs, improve passenger experience, and comply with stringent regulations. The region emphasizes leveraging analytics to enhance operational efficiency and safety measures.
The Asia Pacific region is witnessing rapid growth in the aviation industry, leading to increased demand for analytics solutions. With the rising air traffic, airlines in the region focus on enhancing operational efficiency, managing growing demand, and improving customer service through analytics.
The aviation industry in Latin America is adopting analytics solutions to optimize operations, reduce costs, and enhance safety measures. Airlines in the region are leveraging analytics to improve route planning, optimize revenue management, and enhance maintenance and repair practices. Latin America also presents opportunities for analytics solution providers to assist airlines in managing demand fluctuations, improving operational performance, and providing a seamless passenger experience.
The Middle East and Africa region is investing in aviation analytics to improve airport infrastructure, optimize flight operations, and enhance the passenger experience. With the region's focus on becoming aviation hubs and expanding their airline networks, analytics solutions are instrumental in managing increasing air traffic, improving safety measures, and optimizing revenue generation. The region's growing investment in smart airports and digitization further drives the demand for analytics solutions.
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The Global Aviation Analytics Market is highly competitive, with several players vying for a significant market share. The leading companies in the Automotive Flooring market are investing heavily in research and development to stay ahead of the competition and offer innovative solutions to their customers. Some of the major players in the market have a global presence and offer a wide range of Aviation Analytics catering to various applications such as consumer compatibility, offices, transportation and industrial automation. They are also focused on expanding their product portfolio and enhancing their distribution networks to better serve their customers.
Top Player’s Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the global aviation analytics market can be segmented based on the type of analytics solutions utilized and the application areas where these solutions are applied. In terms of analytics solutions, the market can be categorized into predictive analytics, descriptive analytics, prescriptive analytics, and diagnostic analytics. Predictive analytics enables airlines to forecast future events and trends based on historical data and advanced algorithms. Descriptive analytics focuses on analysing historical data to gain insights into past performance and trends. Prescriptive analytics combines historical and real-time data to provide actionable recommendations and optimize decision-making. Diagnostic analytics helps identify the root causes of specific events or issues.
The aviation analytics market covers fuel management, route optimization, revenue management, customer analytics, and maintenance and repair analytics. Fuel management analytics helps airlines optimize fuel consumption and reduce costs. Route optimization analytics assists in identifying the most efficient flight paths, considering factors such as weather conditions, airspace congestion, and fuel consumption. Revenue management analytics optimizes revenue generation through dynamic pricing and seat inventory management. Customer analytics focuses on understanding customer preferences and enhancing customer experience. Maintenance and repair analytics optimize maintenance schedules, reduce downtime, and improve overall fleet performance.
|Market size value in 2021||USD 2.91 billion|
|Market size value in 2030||USD 4.10 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Aviation Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aviation Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aviation Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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