Artificial intelligence in Aviation Market size to grow by USD 3.64 billion from 2022 to 2027, Increasing use of AI for quicker check-in and baggage screening in aviation industry to drive the growth- Technavio
NEW YORK, Oct. 19, 2023 /PRNewswire/ -- The artificial intelligence in aviation market size is expected to grow by USD 3.64 billion between 2022 and 2027. However, the growth momentum of the market will be progressing at a CAGR of 43.13% during the forecast period. Increasing use of AI for quicker check-in and baggage screening in the aviation industry is the key factor driving the growth of the market. AI is becoming increasingly common in the airline industry, increasingly being used to expedite check-in and baggage screening. Intrusion detection technology is often used as an AI system to actively differentiate between bags and people during airport check-in. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the artificial intelligence in aviation market: Advanced Micro Devices Inc, Airbus SE, Garmin Ltd., General Electric Co., Intel Corp., International Business Machines Corp., Iris Automation Inc., Lockheed Martin Corp., Microsoft Corp., MINDTITAN OU, Mphasis Ltd., Neurala Inc., Northrop Grumman Corp., NVIDIA Corp., Paladin AI, Samsung Electronics Co. Ltd., Searidge Technologies, TAV Technologies, Thales Group, and The Boeing Co.
- Artificial Intelligence in Aviation Market is fragmented in nature.
- Market to observe 41.95% YOY growth in 2023.
Market Dynamics:
Trends
- Growing recent developments related to AI in the aviation industry the primary trend shaping the growth of the market.
- The trend reflects the steady pace of progress, innovations, and new applications of AI technologies within the aviation industry. These developments surround a wide range of areas and use cases, driving the development of the market.
The report also covers information on the upcoming trends and challenges. Explore detailed information by purchasing report
Keg Segments:
The software segment will account for a major share of the market's growth during the forecast period. Aviation industry AI software includes a variety of advanced algorithms, applications, and platforms that use AI to improve flight operations. AI is used to design optimal routes, reduce fuel consumption, and improve flight efficiency using flight planning and optimization software.
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Related Reports:
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The Artificial Intelligence (AI) Market size is estimated to grow at a CAGR of 22.26% between 2022 and 2027. The size of the market is forecast to increase by USD 125.3 billion.
Artificial Intelligence In Aviation Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 43.13% |
Market growth 2023-2027 |
USD 3.64 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
41.95 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 45% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advanced Micro Devices Inc, Airbus SE, Garmin Ltd., General Electric Co., Intel Corp., International Business Machines Corp., Iris Automation Inc., Lockheed Martin Corp., Microsoft Corp., MINDTITAN OU, Mphasis Ltd., Neurala Inc., Northrop Grumman Corp., NVIDIA Corp., Paladin AI, Samsung Electronics Co. Ltd., Searidge Technologies, TAV Technologies, Thales Group, and The Boeing Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
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Website: www.technavio.com
SOURCE Technavio
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