CHICAGO, Dec. 4, 2020 /PRNewswire/ -- According to the new market research report "Aviation Analytics Market by Component (Services, Solutions) Deployment (On-premise, Cloud), Application, End-User (MROs, Airlines, Airports, OEMs), Business Function, Region - Global Forecast to 2025", published by MarketsandMarkets™, the Aviation Analytics Market is projected to grow from USD 1.7 billion in 2020 to USD 3.0 billion by 2025, at a CAGR of 11.5% from 2020 to 2025. Some of the factors that are expected to fuel the growth of the aviation analytics market include the increasing focus on analytics solutions and competitive intelligence to increase profitability of aviation business and increasing customer centricity in aviation industry.
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Based on component, the services segment is projected to grow at the highest CAGR during the forecast period.
Based on component, the services segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand from airlines and airports for supply chain planning, and inventory management services. Lufthnasa Technik offers aviation analytics service in form of aircraft maintenance consulting.
Based on application, the mobility & functionality segment is projected to grow at the highest CAGR during forecast period.
Based on application, the mobility & functionality segment is projected to grow at the highest CAGR during forecast period. The advent of smart devices with the capability to integrate aviation analytics tools improves customer experience during air travel. With the help of statistical modeling techniques and historical data, aviation analytics provides insights associated with air travel preferences. Aircraft OEMs and airports utilize these insights to make air travel more convenient and improve customer experience.
Based on end user, the airlines segment is projected to grow at the highest CAGR during forecast period.
Based on end user, the airlines segment is projected to grow at the highest CAGR during forecast period. The growing preference for air travel and the implementation of new air travel routes are some of the significant factors driving the growth of the airlines segment. Passengers from emerging economies prefer air travel for business and leisure purposes. Various programs that focus on the modernization of aircraft are also fueling the demand for aviation analytics as customers prefer convenience and safety features. This, in turn, is projected to drive the airlines segment in the aviation analytics market.
Browse in-depth TOC on "Aviation Analytics Market"
218 – Tables
53 – Figures
231 – Pages
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The aviation analytics market in Asia Pacific is projected to grow at the highest CAGR from 2020 to 2025.
The Asia Pacific aviation analytics market is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing aircraft deliveries in the region. In addition, factors including emphasis on improving aircraft safety and optimization of aviation business functions through digital transformation are expected to drive the demand for aviation analytics in the region.
Major players in the aviation analytics market are IBM Corporation (US), IFS (Sweden), Ramco Systems (India), SAP (Germany), Swiss AviationSoftware (Switzerland), Lufthansa Technik (Germany), General Electric (US), Oracle Corporation (US), and Honeywell International (US).
MRO Software Market in Aviation by End User (Operators, OEMs, MROs, Lessors), Solution (Software, Services), Deployment Type (On-premises, Cloud), Function (Maintenance, Operations, Business Management), Pricing Model, and Region - Global Forecast to 2025
Aircraft Health Monitoring Market by Aircraft Type (Commercial, Business, Rotary, Military), Operation Time (Real-Time, Non-Real-Time), Installation (Onboard, On Ground), Fit (Linefit, Retrofit), Solution, and Region - Global Forecast to 2023
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