The global aviation analytics market is expected to reach USD 4.36 billion by 2028, growing at a CAGR of 11.58% during the forecast period. The increasing use of aviation analytics by airlines to reduce costs is driving market growth. According to a report titled “Aviation Analytics Market, 2024-2028” by Fortune Business Insights™, the market was valued at USD 1.93 billion in 2020 and rose to USD 2.02 billion in 2021.
Browse Summary:
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Key Market Players:
- Airbus (France)
- Boeing (U.S.)
- Collins Aerospace (U.S.)
- General Electric (U.S.)
- Honeywell International Inc. (U.S.)
- IBM (U.S.)
- L3Harris Technologies Inc. (U.S.)
- Oracle (U.S.)
- SAP SE (U.S.)
Market Segmentation:
The aviation analytics market is analyzed based on:
- Function: Sales & marketing, operations, finance, and others.
- Application: Navigation services, customer analytics, flight risk management, fuel management, and more.
- Product: Solutions and services.
- End-Use: OEM and aftermarket.
- Region: North America, Europe, Asia Pacific, Middle East, and Rest of the World.
Report Highlights:
- Insight into mergers, partnerships, and acquisitions by major players.
- Analysis of the latest technological developments, market drivers, and challenges.
- Impact of COVID-19 on the aviation analytics market.
Drivers & Restraints:
Cost Reduction Efforts by Airlines Boost Growth
Aviation analytics helps airlines save costs, including fuel and baggage loss expenses. For example, the International Air Transport Association (IATA) reported that 22.1% of airline operating costs in 2020 were fuel-related. Analytics tools help airlines better plan flight routes and carry the right amount of fuel, which is expected to drive market growth.
The use of Big Data analytics is also increasing, enabling airlines to better understand market needs and adapt accordingly. However, a lack of skilled professionals to manage analytics tools may slow growth.
Regional Insights:
- North America: Dominates the market due to key players like Honeywell International Inc., Boeing, and Collins Aerospace.
- Europe: Expected to grow due to aviation sector modernization and rising travel demand.
- Asia Pacific: Rapid growth due to the expanding aviation industry and rising air travel in countries like India and China.
- Rest of the World: Slower growth, except for slight gains in the Middle East from new aircraft purchases and increased air travel.
Competitive Landscape:
Leading companies focus on partnerships and contracts to grow their market presence. For instance:
- In March 2020, Sun Express partnered with GE Aviation for data safety analytics solutions for Airbus A330 and Boeing 737 aircraft.
Recent Industry Development:
- October 2020: Hilton Software secured a USD 4 million contract with the Federal Aviation Administration (FAA) to provide software and data services for FAA Flight Program Operations.
