Aviation IoT Market Size Worth $22.51 Billion By 2028 | CAGR: 21.4%: Grand View Research, Inc.
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.
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 ancillary revenues
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)
Interactive Kiosk Market? Global interactive kiosk market size was valued at USD 26.63 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.9% from 2021 to 2028.
Aviation Actuator Systems Market? Global aviation actuator systems market is expected to witness significant growth over the forecast period. The aviation industry has been witnessing technological advancement in aircraft models, leading to improvement in the actuator systems.
Aerospace and Defense Springs Market? Global aerospace and defense springs market size was valued at USD 260 million in 2018 and is expected to attain a CAGR of 5.2% over the forecast period.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
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.
Beep, Inc., a leading provider of autonomous shared mobility solutions, today announced a first-of-its-kind partnership with Sustainability Partners and the Hawai?i Department of Transportation (HDOT) for the launch of an 18-month autonomous shuttle...
As part of a sustained effort to provide families in Tuolumne County and beyond with a vacation destination that offers memorable entertainment options to guests of all ages, Black Oak Casino Resort is pleased to announce the details of a major...
Avix Aero today announced Jim Bohlman as chief operating officer. Bohlman brings nearly 25-years of strategy and operations experience within the aviation and aerospace industry.
"Jim is a seasoned leader with a proven track record in strategy,...
To find the hottest deals in the Caribbean, keep your sights set on Divi Resorts. Known for its budget-friendly all-inclusive and room-only getaways and stunning resorts on Aruba, Barbados, Bonaire, St. Croix, and St. Maarten, Divi Resorts is...
Las Vegas Sands has contributed $100,000 through Sands Cares to Dress for Success® (DFS) Southern Nevada to support the organization's free business styling and workforce development services for women who are unemployed and underemployed.
Funding...
UATP, the global payment network that enables organizations to simplify payment processes to expand their payment capabilities, has received approval from the US Patent and Trademark Office (USPTO) for its second patent application related to Batch...