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2022
Aviation Analytics Market

Aviation Analytics Market by Component (Service and Software), End User (Airlines, Airports, and Others), Business Function (Sales & Marketing, Finance, Maintenance, Repair & Operations, and Supply Chain), and Application (Flight Risk Management, Inventory Management, Fuel Management, Revenue Management, Customer Analytics, and Navigation Services): Global Opportunity Analysis and Industry Forecast, 2021–2030

A03343
Pages: 302
Feb 2022 | 17087 Views
Author(s) : Himanshu Joshi , Sonia Mutreja
Tables: 156
Charts: 73
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COVID-19

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Aviation Analytics Market Statistics 2021–2030

The aviation analytics market was valued at $2.78 billion in 2020, and is projected to reach $8.21 billion in 2030, registering a CAGR of 11.72%.  

The rapid spread of COVID-19 had a significant impact on the global aviation analytics market in 2020, owing to the implementation of strict lockdown measures across the world. COVID-19 pandemic led to several challenges for the aviation industry such as grounding of airplanes, reduced demand for air travel, and others. On the other hand, various countries with the foundations of aviation-friendly environment, such as U.S., UK, China, Germany, and others, were able to quickly mobilize the technology from the start of the pandemic.

Aviation involves the activities surrounding the aircraft industry and mechanical flight. Analytics means systematic computational analysis of statistics or data. Aviation analytics is a computational technology that provides information or statistics of historical airport operational data, historical flight data, weather forecasts, and real-time flight data to the end-users. It permits predictive analysis and query processing over big aviation data. Primarily, it offers predictions or solutions based on structured and unstructured massive aviation data.

	Aviation-Analytics-Market

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The global aviation analytics market is driven by a rise in focus on competitive intelligence and real-time analytical solutions to increase the productivity of a business. Moreover, continuous growth in the volume of data generated in the aviation industry, surge in aviation passenger traffic, and growth in customers’ centricity fuel the growth of the market. However, incapability to provide data models according to the need of businesses and a dearth of analytically skilled workforce hampers the market growth. On the contrary, rise in the adoption rate of analytics and continuous technological advancements in the aviation industry are expected to provide numerous opportunities for market expansion in near future.

The aviation analytics market is segmented on the basis of component, end-user, business function, application, and region. By component, the global aviation analytics market has been categorized into service and software. By end-user, the global aviation analytics market has been categorized into airlines, airports, and others. On the basis of business function, the market has been classified into sales & marketing, operations, finance, maintenance & repair, and supply chain. By application, it is classified into flight risk management, inventory management, fuel management, revenue management, customer analytics, and navigation services. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players profiled in this report include Accelya, General Electric Company, International Business Machines Corporation (IBM), IGT Solutions Pvt. Ltd., Mu Sigma, OAG Aviation Worldwide Ltd., Oracle, Ramco System, SAP SE, and SAS Institute Inc.

Aviation Analytics Market
By Component

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Software is projected as the most lucrative segment

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High volume data generation in the aviation industry

The aviation industry incorporates a large amount of data, which is difficult to manage and process. According to the U.S. National Air Traffic Controllers Association, a total of 87,000 flights are in the skies in the U.S. on any day. Data collected by sensors on one aircraft covers more than 300,000 parameters with engine data being one of the most important data points captured. For instance, the Boeing 737 generates 20 terabytes of engine information per hour. This massive data is critically important for any decision made by businesses. Such a huge amount of historical data is analyzed to discover valuable insights into the aviation industry. Moreover, this data is used to predict global security threats, changing customer preferences, and future market trends. For instance, in January 2020, the Boeing Company signed an agreement with Emirates Engineering for a specialized Boeing maintenance planning program that combines advanced data analytics with Boeing’s engineering expertise. In addition, participants of the aviation analytics market focus on competitive intelligence and real-time analytical solutions to enhance the data storage capability and profitability of their businesses. These factors are expected to drive the market during the forecast period.

Aviation Analytics Market
By End User

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Airports is projected as the most lucrative segments

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Rise in aviation passenger traffic

According to the International Civil Aviation Organization (ICAO), by 2035, passenger traffic and freight volume should be double. Factors such as growth in disposal income of the middle-class population and the emergence of low-cost airlines have led to an increase in number of airline passengers. With surge in number of airline passengers, demand for aviation analytics services has increased at a significant rate. Major countries such as Canada, U.S., Brazil, Indonesia, Philippines, China, Saudi Arabia, and India witnessed rise in number of air passengers. For instance, according to the Bureau of transportation, in October 2021, U.S. Airlines’ passengers increased 119% from October 2020. According to International Air Transport Association (IATA), passenger numbers could double to 8.2 billion in 2037 at 3.5% compound annual growth rate (CAGR). Therefore, an increase in aviation passenger traffic indirectly is expected to boost the demand for aviation analytics. As increment in passenger traffic will generate an enormous amount of information, participants of the aviation industry need to use analytical solutions to predict customer preferences, reduce operational cost, manage fuel cost, and others.

Aviation Analytics Market
By Business Function

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Finance is projected as the most lucrative segments

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Dearth of analytically skilled workforce

Recent growth in the use of real-time analytical solutions and “Big Data” analytics demands an analytically skilled workforce. The rapid expansion in global air passenger traffic can possibly be prevented due to absence of talented workforce. Airbus forecasts a need for around 33,000 new aircraft globally by 2035, which is expected to indirectly generate demand for trained and skilled engineers to maintain these aircraft. Currently, there are not enough qualified maintenance personnel in Asia-Pacific to meet the needs of the growing aviation industry. For instance, according to Boeing, Asia-Pacific is expected to require around 238,000 new maintenance technicians by 2034 to satisfy needs of the industry. Moreover, despite the growth in consumption and use of data, growth of the aviation analytics market is restricted due to skills gaps, which is a major blocker to current data and analytics efforts.

Aviation Analytics Market
By Application

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Navigation Services is projected as the most lucrative segments

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Technological advancements

On the basis of the analysis of International Air Transport Association, (IATA) the leading cause of late flights (42%) are based on airline-controlled processes, such as maintenance. Continuous technological advancements by the players of the industry to improve efficiency and client experience are expected to boost the demand for aviation analytics. For instance, the emergence of IoT has an impact on maintenance and safety, which allows airlines to keep their planes in the air longer with less time spent on the ground. In addition, another important technology that has recently emerged is cloud computing. By using cloud computing, IT vendors can provide resources to an airline remotely according to their needs. Another developing innovation includes mobile devices with the potential to impact drastically on services. These devices coupled with aviation analytics allow airlines to deliver ancillary services such as baggage fees, on-board food and services, and others by analyzing their preference history. These technological advancements create opportunities for the market during the forecast period. Moreover, developments by key players such as OAG Aviation Worldwide Limited, Accelya, General Electric, and others are anticipated to boost the demand for an aviation analytics market. For instance, in November 2021, OAG Aviation Worldwide Limited launched Flight Info Alerts, its new detection and notification product that delivers changes to flight schedules in real-time. In addition, SAS Institute Inc. collaborated with Raleigh-Durham International Airport for the development of significantly improved passenger forecast models.

Aviation Analytics Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 14.77% during 2021-2030.

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COVID-19 Impact Analysis

  • The COVID impact on the aviation analytics market is unpredictable and is expected to remain in force for a few years.
  • The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned domestic and international travel for most of the year 2020. This led to sudden fall in demand for air-travel and hampered adoption of aviation analytics across the globe.
  • Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of innovative aviation analytics solutions globally.

Key Benefits For Stakeholders

  • This study presents analytical depiction of the aviation analytics market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall aviation analytics market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities of the aviation analytics market with a detailed impact analysis.
  • The current aviation analytics market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers in the industry.

Key Market Segments

  • By Component
    • Service
    • Software
  • By End-User
    • Airlines
    • Airports
    • Others
  • By Business Function
    • Sales & Marketing
    • Finance
    • Maintenance
    • Repair & Operations
    • Supply Chain
  • By Application
    • Flight Risk Management
    • Inventory Management
    • Fuel Management
    • Revenue Management
    • Customer Analytics
    • Navigation Services
  • By Region
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Russia
      • Rest of Europe
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia-Pacific
    • LAMEA
      • Latin America
      • Middle East
      • Africa
  • By KEY PLAYERS
    • Accelya
    • General Electric
    • International Business Machine Corporation (IBM)
    • IGT Solutions Pvt. Ltd.
    • MU Sigma
    • OAG Aviation Worldwide Limited
    • Oracle Corporation
    • Ramco Systems
    • SAP SE
    • SAS Institute Inc.
 

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The global aviation analytics market is projected to witness considerable growth, especially in Asia-Pacific and LAMEA, owing to a continuous rise in emphasis on competitive intelligence and analytical solutions, which have increased the demand for aviation analytics services and software tools in the aviation industry. For instance, in July 2021, International Business Machines Corporation (IBM) entered into a partnership with Bangalore International Airport Limited (BIAL) to provide best of breed IT solutions to create a new "Airport in a Box" platform that is expected to support transforming the end-to-end travel experience for passengers at BLR Airport.

Aviation analytics has wide applications in the aviation sector. For instance, airlines in North America adopt aviation analytics increasingly to manage the unpredictable cost of operations due to fuel, labor, and aircraft. The competition between local and global airlines has increased, along with a fast-changing regulatory environment & trade practices, increased visibility to service performance, and disruptive & unacceptable system outages; which has led to rise in adoption of analytical solutions. Moreover, engine maintenance is expected to be the major maintenance, repair, and operations (MRO) demand in North America over the forecast period, which is anticipated to lead to rise in adoption of aviation analytics. MROs focus on analyzing engine data to enable seamless maintenance cycles, advanced troubleshooting, and improved operational performance.

Furthermore, numerous developments have been carried out by key players operating in the industry, which are expected to create remunerative opportunities for the expansion of the market during the forecast period. For instance, in December 2021, GE Digital (a subsidiary of General Electric) signed an agreement with Dallas-based Ameriflight to provide Aviation Asset Records software solution to make better-informed decisions about its flight operations. The solution features an automated dashboard that provides a visual representation of historical data.

The aviation analytics market is segmented on the basis of component, end-user, business function, application, and region. By component, the global aviation analytics market has been categorized into service and software. By end-user, the global aviation analytics market has been categorized into airlines, airports, and others. On the basis of business function, the market has been classified into sales & marketing, operations, finance, maintenance & repair, and supply chain. By application, it is classified into flight risk management, inventory management, fuel management, revenue management, customer analytics, and navigation services. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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FREQUENTLY ASKED QUESTIONS?

A. The global aviation analytics market valued at $2.78 billion in 2020, and is projected to reach $8.21 billion by 2030, registering a CAGR of 11.72% between 2021 and 2030

A. Airlines make use of analytics to automate machinery maintenance, customer service, as well as many other internal processes and tasks

A. The report sample for global aviation analytics market report can be obtained on demand from the website

A. Rise in usage of AI-ML models for predicting aircraft maintenance, in-flight experience improvement, intelligent route planning, optimizing customer experience, and others

A. The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated

A. By end user, airlines held the highest market share in 2020

A. By component, the service sector held the highest market share in 2020

A. The leading companies operating in the aviation analytics market are Accelya, IBM, Oracle, and SAP SE

A. Increase in usage of aviation analytics services across the world and entry of new players in the aviation analytics marketspace

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