Aviation Analytics Market Overview:
The growth in competition has necessitated the emergence of aviation analytics to satisfy growth in needs of customers. Further, increase in adoption rate of analytics solutions and continuous technological advancements in the aviation industry provides the marketers with immense scope to target their customers and enhance the user experience.
Aviation analytics is a computational technology, which provides information or statistics of historical airport operational data, historical flight data, weather forecast, and real-time flight data to the end users. The rise in focus on competitive intelligence and real time analytical solutions is attributable to the increase in aviation analytics budgets in organizations. Moreover, the aviation analytics solutions also play a prominent role owing to its benefits including minimization of revenue leakage, increase in profits, and efficient and effective financial processes, which allow airlines to perform up to ten times better on key performance indicators.
Asia-Pacific is expected to grow at a significant pace during the forecast period. Airlines segment led the market in 2016 and is expected to continue to do so in the near future. Furthermore, the customer analytics dominated the overall market and deploy the aviation analytics on a larger scale.
Rise in focus on competitive intelligence and real time analytical solutions mainly to increase the productivity of business drive the aviation analytics market. However, factors such as incapability to provide data models according to the need of businesses hamper the aviation analytics market growth to a certain extent.
The report focuses on the growth prospects and restraints of the market based on the analysis of regional trends. The study provides Porters Five Forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market.
The global aviation analytics market is segmented based on end user, application, business function, components, and geography. Based on end user, it is divided into airlines, airports, and others. Based on application, it is classified into flight risk management, inventory management, fuel management, revenue management, customer analytics, and navigation services. Based on business function, it is categorized into sales & marketing, finance, maintenance, repair and operations, and supply chain. Based on components, the market is bifurcated into service and software. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA including country level analysis for each region.
The key players operating in the global aviation analytics market include Oracle Corporation, IBM Corporation, SAS Institute Inc., SAP SE, General Electric, Ramco Systems, Mu Sigma, Aviation Analytics Ltd, Mercator, and Booz Allen Hamilton Inc.
Global Aviation Analytics Market Segmentation
Top Impacting Factors
According to our analysis, the aviation analytics market is expected to be driven by increase in focus on competitive intelligence and real time analytical solutions mainly to increase the productivity of business, continuous growth in the volume of data generated in aviation industry increasing aviation passenger traffic, and growth in customers centricity. However, incapability to provide data models according to the need of businesses and dearth of analytically skilled workforce are expected to hamper the aviation analytics market growth during the forecast period.
Increase in Emphasis on Competitive Intelligence and Analytical Solutions
Participants of the aviation analytics market are increasingly concentrating on competitive intelligence and real-time analytical solutions to enhance the profitability of the businesses by increasing revenue and cost saving in areas such as demand forecasting, tracking, fraud detection, marketing, and improved data management.
High Volume of Data Generated in the Aviation Industry
The aviation industry incorporates a huge amount of data, which is impossible to manage and process but this massive data is critically important to discover valuable insights in the aviation industry such as to predict the global security threats, changing customer preferences and future market.
Increasing Aviation Passenger Traffic
Continuous increase in passenger traffic generate massive amount of data and participants of the aviation industry have to use analytical solution for many factors such as predicting customer preferences, reducing operational cost, managing fuel cost, and others.
- This study includes the analytical depiction of the global aviation analytics market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities.
- The current market is quantitatively analyzed from 2016 to 2023 to highlight the financial competency of the industry.
- Porters Five Forces analysis illustrates the potency of buyers & suppliers in the global aviation analytics industry.
Aviation Analytics Market Key Segments:
By End Users
- Flight Risk Management
- Inventory Management
- Fuel Management
- Revenue Management
- Customer Analytics
- Navigation Services
By Business Functions
- Sales & Marketing
- Maintenance, Repair & Operations
- Supply Chain
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- Oracle Corporation
- IBM Corporation
- SAS Institute Inc.
- SAP SE
- General Electric
- Ramco Systems
- Mu Sigma
- Aviation Analytics Ltd
- Booz Allen Hamilton