Inflight Entertainment (IFE) Market Worth 6.91 Billion USD by 2022
PUNE, India, March 24, 2017 /PRNewswire/ --
The report "Inflight Entertainment (IFE) Market by Fit (Linefit, Retrofit), Aircraft Type (NBA, WBA, VLA, Business Jets), Product Type (IFE Hardware, IFE Connectivity & Communication, IFE Content), Region - Global Forecast to 2022", published by MarketsandMarkets, is projected to reach USD 6.91 Billion by 2022, at a CAGR of 13.80% from 2016 to 2022.
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Browse 120 market data Tables and 59 Figures spread through 169 Pages and in-depth TOC on "Inflight Entertainment (IFE) Market"
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Factors such as the increasing number of aircraft orders & deliveries and the emerging focus upon providing aircraft passengers with the best travel experience are expected to drive the inflight entertainment (IFE) market.
The linefit segment of the inflight entertainment (IFE) market is expected to grow at the highest CAGR during the forecast period
The linefit segment has been witnessing strong growth across the globe in recent years, driven by factors such as increase in air travel, growing demand for newly manufactured aircraft and growth in international tourism. Growth of the civil sector has resulted in an increasing demand for new aircraft, which directly affects the inflight entertainment (IFE) market. The increasing demand for new aircraft is expected to propel market growth during the forecast period.
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The Narrow Body Aircraft (NBA) segment is expected to grow at the highest CAGR during the forecast period
Based on aircraft type, the narrow body aircraft segment of the in-flight entertainment (IFE) system market is projected to grow at the highest CAGR during the forecast period. Airliners are replacing the older narrow body aircraft by introducing latest aircraft such as the A320 Neo and the 737 Max. The mainline carriers are opting for the next generation narrow body aircraft to serve customers better while also improving profitability through the lower operating cost of the aircraft.
The IFE connectivity & communication segment is expected to grow at the highest CAGR during the forecast period
Based on product type, the IFE connectivity & communication segment of the inflight entertainment (IFE) market is projected to grow at the highest CAGR from 2016 to 2022. Airline operators are exploring new avenues to deploy connectivity based applications with managed internet access on board the aircraft to cater to the needs of the passengers. For the same, they are opting for ground based technologies such as ATG or satellite based technologies which include L-band, Ku-band, and Ka-band to offer passengers various connectivity services such as web browsing, content streaming, SMS, e-mail, destination information, concierge services, and other airline information during air travel.
The market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period
The inflight entertainment (IFE) market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. During the forecast period, the Asia-Pacific region is expected to receive a high number of aircraft deliveries, which is about 33% of the global deliveries. China is expected to be the major market in the region owing to the reforms in their regulations and policies, innovative business models, and the development aircraft with new technologies. Also, rising passenger traffic, evolving consumer behavior, and increasing aircraft deliveries in the Asia-Pacific region are expected to lead to the high growth of the inflight entertainment (IFE) market.
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Key players in the inflight entertainment (IFE) market include Thales Group (France), Rockwell Collins, Inc. (U.S.), Gogo LLC (U.S.), Honeywell International, Inc. (U.S.), and Zodiac Aerospace (France).
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