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2022
Artificial Intelligence In Aviation Market

Artificial Intelligence in Aviation Market by Offering (Hardware, Services, and Software), Technology (Context Awareness Computing, Machine Learning, Computer Vision, Natural Language Processing), Application (Virtual Assistants, Dynamic Pricing, Smart Maintenance, Manufacturing, Surveillance, Flight Operations, Training and Others), Global Opportunity Analysis and Industry Forecast, 2021–2030

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Feb 2022 | 120 Views
   
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COVID-19

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Airlines and airports are increasingly adopting new technologies and relying on artificial intelligence (AI) to improve customer service. Customer service is one of the most important aspects of air travel, but it is well known that the need for it begins when passengers consider booking flights, not just when they arrive at the airport. This is why chatbots based on AI and machine learning are becoming more popular. AI/ML will also revolutionize predictive maintenance and air traffic control (ATC). AI is used in these applications by Thales and Airbus. By optimizing these systems, airline operations will become more efficient and environmentally friendly. AI make controllers' jobs easier by using automatic speech recognition. Machine learning also aids in system performance monitoring and anomaly detection, predictive maintenance, and system resilience. new machine learning algorithms enable the creation of smart twins for ATC centers to perform continuous improvements through simulations, as well as help buyers make their operations greener by optimizing for tactical and strategic impact.

The global Artificial Intelligence in Aviation market forecast is segmented on the basis of Offering, Technology, Application & region. Based on Offering, the market is divided into Hardware, Services, and Software. In terms of application, the market is categorized into Virtual Assistants, Dynamic Pricing, Smart Maintenance, Manufacturing, Surveillance, Flight Operations, Training. On the basis of Technology, the market is divided into Context

Awareness Computing, Machine Learning, Computer Vision, Natural Language Processing. Geographically, the market is analysed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global Artificial Intelligence in Aviation industry include Samsung Electronics, Intel, Xilinx, Thales, IBM, Amazon, Nvidia, Microsoft, Garmin, Lockheed Martin. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global Artificial Intelligence in Aviation market.

Market scope and structure analysis

Report Metric

Details

Market Size Available for Years

  2020–2030

  Base Year Considered

  2020

  Forecast Period

  2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

 Offering, Technology, Application and Region

  Companies Covered

Samsung Electronics, Intel, Xilinx, Thales, IBM, Amazon, Nvidia, Microsoft, Garmin, Lockheed Martin

 

COVID-19 impact analysis

The current COVID-19 pandemic has had a negative impact on the artificial intelligence in aviation market, with manufacturing activities being temporarily halted across major manufacturing hubs, resulting in a significant production slowdown. People are becoming significantly more isolated as a result of increased restrictions on public meetings and travel. Due to supply chain delays, stock market instability, halting of airlines, business dealing in the artificial intelligence in aviation business are also feeling the effects of the COVID-19 epidemic. It has directly impacted production and demand of artificial intelligence in aviation causing supply chain and market disruption. As airports are shut down due to lockdown restrictions, the use of artificial intelligence in aviation is halted, negatively impacting the artificial intelligence in aviation market share. 

Top impacting factors

AI is being driven by factors such as cost-effectiveness, system efficiency, and more timely management of services and systems in the aviation market. Factors such as security concerns, data accuracy concerns, and system integrity malfunctions are stifling the artificial intelligence in aviation market growth. The report on the global artificial intelligence in aviation market outlook provides a comprehensive analysis of the artificial intelligence in aviation market size. The report provides a thorough examination of key segments, trends, drivers, restraints, the competitive landscape, and factors that are significant in the artificial intelligence in aviation industry.

 Artificial intelligence in aviation functions are implemented to reduce employee labor intensity while also ensuring smooth and efficient operations with minimal human intervention. Lack of skilled labor to analyze massive amounts of data collected & derived insights, security concerns, and system malfunctions are the major impediments to artificial intelligence in the aviation market. 

There is a huge opportunity in the artificial intelligence market in aviation as airline companies are eager to adopt advanced technologies to avoid disruptions in passenger services. AI will also help to improve real-time decision making in order to keep the business running smoothly. It will allow for least amount of human intervention. However, the systems can make mistakes while performing analysis and making real-time decisions, posing a challenge to the growth of artificial intelligence in the aviation market opportunity.

Surge in usage in aviation sector and virtual assistants    

The utilization of massive data within the aerospace industry, significant increase in capital investments by aviation companies, and rising adoption of cloud-based applications and services within the aviation industry are the major factors driving the expansion of AI within the aviation market. The presence of artificial intelligence in the aviation industry includes the presence of services and systems such as baggage screening, passenger identification and maintenance, customer support, facial recognition, aircraft fuel optimization, and many others. Automation in aviation would improve customer satisfaction while also making the overall system more efficient. As technologies advance, new industries emerge such as big data and cloud-based applications.

 Big data implementation in the aviation industry can aid in smart maintenance, optimizing fuel efficiency, improving services, and improving security. AI is also cost-effective, and it can provide more efficient and timely management of services, which is propelling the growth of artificial intelligence in the aviation market. 

The application of virtual assistants is expected to grow more and hold the largest market share among all applications over the forecasted period. By using AI-based virtual assistants, airline companies improve their productivity and pilot efficiency by reducing recurring tasks such as changing radio channels, reading wind forecasts, and providing position information on requests. These recurring jobs in the aviation industry have been taken over by AI-enabled virtual assistants.

Key benefits of the report

  • This study presents the analytical depiction of the artificial intelligence in aviation market industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the artificial intelligence in aviation market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight artificial intelligence in aviation market trends growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed artificial intelligence in aviation analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in artificial intelligence in aviation market report research

  • What are the leading market players active in the artificial intelligence in aviation market ?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future would help in taking further strategic steps?
  • Upcoming report specific FAQs examples:  
  • What is artificial intelligence in aviation?
  • What does artificial intelligence in aviation allow organizations to achieve?
  • Which technologies combine to make artificial intelligence in aviation a critical organizational asset?
  • What are the key benefits of the artificial intelligence in aviation market analysis report?
  • Which niches should companies associated with recent improvements establish a presence in?

Key Market Segments

Segments Sub-segments
Offering
  • Hardware
  • Services
  • Software
Technology
  • Context Awareness Computing
  • Machine Learning
  • Computer Vision
  • Natural Language Processing
Application
  • Virtual Assistants
  • Dynamic Pricing
  • Smart Maintenance
  • Manufacturing
  • Surveillance
  • Flight Operations
  • Training
  • Others
By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
 
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