Aviation Analytics Market Forecasts to 2028 - Global Analysis By Business Function, Component, Development, Application, End User, and Geography

According to Stratistics MRC, the Global Aviation Analytics Market is accounted for $2.48 billion in 2022 and is expected to reach $5.34 billion by 2028 growing at a CAGR of 13.58% during the forecast period. Aviation encompasses activities connected to the aviation sector and mechanical flight. Analytics is the term for the methodical computation-based analysis of data or statistics. Aviation analytics is a computational method that provides end users with historical operational airport data, weather predictions, historical flight data, including real-time flight data. Large aviation data sets can now be processed for queries and predictive analysis. It mostly offers predictions or solutions based on vast quantities of unstructured and structured aviation data.

According to the US National Air Traffic Controllers Association, there are approximately 87,000 flights taking off in the US every day. In addition, there has been a substantial increase in the number of passengers travelling via air owing to rising disposable income and improved standard of living of people across the world.

Market Dynamics:

Driver:

Increasing focus of aviation industry on competitive intelligence and analytical solutions

Participants in the global aviation industry are emphasising competitive intelligence and analytical solutions more and more in order to boost the profitability of their businesses. As a result, the need for aviation analytics solutions is growing, which is helping the sector. In addition, as the number of passengers flying has increased, more data are being generated. This is driving up the market's urgent need for aviation industry analysis. The increased emphasis on aviation fuel management is also creating a significant data volume requirement for these systems.

Restraint:

Concerns regarding privacy and data security

Considering parent firms have access to details about their clients' purchase, online transactions, ticket reservations, and other crucial information, any analytics flaw could jeopardise client privacy. The enterprises may trade these useful client datasets for mutual benefit. As a result, market expansion is prevented from expanding.

Opportunity:

Rising technological developments in aeronautics analytics solutions

The airline industry is expected to face increasing demand for technology advancements in aeronautics advanced analytics to reduce costs and improve customer experience. Then, as the need for structural analytical solutions to achieve high revenues and profits increases, the market for aviation analytics will grow.

Threat:

Lack of Skilled Professionals

With the recent rise in the use of real-time analytical solutions, particularly "Big Data" analytics, a workforce with analytical abilities is now necessary. Lack of competent labour could slow the overall aviation passenger traffic's explosive expansion. The development of the aviation market globally is also restricted by a lack of experienced personnel, which is a key obstacle to current data and analytics initiatives despite the rise in data consumption and usage.

COVID-19 Impact

The COVID-19 pandemic has forced governments and aviation-related organisations to enact a number of stringent regulations to prevent the virus's spread. A reduction in airport traffic with monetary losses for the aviation sector globally resulted from airports and air travel almost stopping in the second quarter. Many other countries in other regions remain susceptible to latest wave of illnesses, causing their administrations to once again declare partial or complete lockdowns, even though some have started to gradually restore substantial sectors of their economy.

The Solutions segment is expected to be the largest during the forecast period

The Solutions segment is estimated to have a lucrative growth; due to its expansion can be linked to the growing need for a personalised aviation analytics service that can address business issues. Additionally, this technology aids businesses in increasing maintenance, profitability, and operations productivity. Also, when users order tickets, technology can comprehend their wants.

The fight risk management segment is expected to have the highest CAGR during the forecast period

The fight risk management segment is anticipated to witness the fastest CAGR growth during the forecast period, due to improved safety and a decrease in operational problems. Also, a sizeable portion of the market is devoted to fuel management products, which aid airlines in effectively monitoring their fuel usage and managing operating expenses.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to rising demand for sophisticated analytics that are cloud backed and driven by the cloud is encouraging for the aviation analytics industry. The aviation sector is anticipated to grow the most in Asia Pacific due to advantages including greater operational and cost effectiveness as well as superior consumer experiences in countries like China, India, South Korea, Japan, and Malaysia. Also, it is anticipated that the expansion of the aviation analytics business would thrive during the anticipated time due to rising spending and advances in cloud technology.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to rising customer expectations, mounting pressure to cut costs, and improvements in operational efficiency. Desire for aviation analytics in the area is also anticipated to increase as a result of businesses' willingness to invest in data analytics and customer insights.

Key players in the market

Some of the key players profiled in the Aviation Analytics Market include: SAS Institute Inc, General Electric, Ramco Systems, Honeywell International Inc., IGT Solutions, L3Harris Technologies, Inc., OAG Aviation Worldwide Limited, Askdata, Oracle Corporation, SAP SE, International Business Machine Corporation (IBM), Mercator, Booz Allen Hamilton Inc., Alaska Airlines and Swiss AviationSoftware Ltd

Key Developments:

In July 2022, Askdata, a firm with a focus on search-driven analytics, was bought by SAP SE, according to an announcement. By acquiring Askdata, SAP has improved its capacity to support businesses in making more informed decisions by utilizing AI-driven natural language searches. To maximize business insights, users are given the freedom to browse, communicate, and contribute to real-time data.

In March 2022, Ramco Systems entered into a partnership with Alan AI, a Silicon Valley company enabling the next generation of voice assistants for Enterprise Apps. This partnership aimed to embed in-app voice assistants for its enterprise portfolios. In addition, the partnership would build business use cases for the Aviation, Aerospace & Defense sector, followed by use cases for other industry verticals.

In May 2021, Alaska Airlines signed a contract to deploy the Flyways AI technology. It is a flight tracking and routing program that helps dispatchers make better judgments and plan more effective routes. The technology generates data-driven forecasts and makes flight operations and routing suggestions. Flyways helped the airline cut miles, save 480,000 gallons of fuel, and save 4,600 tonnes of carbon emissions over the six-month trial period.

Business Functions Covered:

• Sales & Marketing
• Finance
• Supply Chain
• Operation
• Maintenance & Repair
• Other Business Functions

Components Covered:

• Solutions
• Services
• Other Components

Developments Covered:

• Cloud
• On Premise

Applications Covered:

• Performance Monitoring
• Flight Risk Management
• Mobility & Functionality
• Rout Management
• Fuel Management
• Fleet Management
• Predictive Analysis
• Energy Management
• Inventory Management
• Supply Chain Planning
• Emergency Management
• Part Replacement
• Inspection
• Wealth Management
• Other Applications

End Users Covered:

• Airports
• MROs
• Airlines
• OEMs
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances