Aviation Analytics Market Expected to Rise at 9.6% CAGR during 2024-2032 | Latest Report by IMARC Group

The global aviation analytics market size reached US$ 3.5 Bn in 2023, projected to reach US$ 8.1 Bn by 2032, with a CAGR of 9.6% during 2024-2032.

SHERIDAN, WYOMING, UNITED STATES, April 15, 2024 /EINPresswire.com/ -- The latest report by IMARC Group, titled “Aviation Analytics Market Report by Component (Software, Services), Deployment Mode (On-premises, Cloud-based), Business Function (Sales and Marketing, Finance, Maintenance, Repair and Operations, Supply Chain), Application (Flight Risk Management, Inventory Management, Fuel Management, Revenue Management, Customer Analytics, Navigation Services), End User (Airlines, Airports, and Others), and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the market.

How big is the aviation analytics market?

The global aviation analytics market size reached US$ 3.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.1 Billion by 2032, exhibiting a growth rate (CAGR) of 9.6% during 2024-2032.

Factors Affecting the Growth of the Aviation Analytics Industry:

• Increasing Demand for Passenger Experience and Personalization:

Meeting the evolving needs and expectations of passengers is another key driver of the aviation analytics market. Passengers expect personalized services, seamless travel experiences, and real-time information throughout their journey. Aviation analytics allows airlines to analyze passenger data, preferences, and behaviors to deliver tailored services, personalized offers, and targeted marketing campaigns. By understanding passenger preferences and behavior patterns, airlines can optimize flight schedules, improve service quality, and enhance the overall passenger experience, leading to increased customer satisfaction, loyalty, and retention. Additionally, analytics-driven insights enable airlines to anticipate passenger demands, manage disruptions effectively, and deliver proactive customer service, further enhancing the passenger experience.

• Safety and Operational Efficiency:

Aviation analytics is driven by the imperative to enhance safety and operational efficiency in the aviation industry. By analyzing vast amounts of data from various sources including aircraft sensors, flight operations, weather patterns, and air traffic management systems, aviation analytics enables airlines and aviation authorities to identify potential safety risks, predict equipment failures, optimize flight routes, and improve overall operational performance. This data-driven approach helps minimize accidents, reduce flight delays, optimize fuel consumption, and enhance the overall passenger experience, ultimately contributing to safer and more efficient air travel.

• Cost Optimization:

Cost optimization is a critical driver of the aviation analytics market. Airlines face significant cost pressures due to factors such as fluctuating fuel prices, intense competition, and regulatory requirements. Aviation analytics enables airlines to identify cost-saving opportunities across various aspects of their operations, including fleet management, maintenance scheduling, crew optimization, and revenue management. By leveraging predictive analytics and data-driven insights, airlines can streamline operations, reduce maintenance costs, optimize pricing strategies, and maximize revenue generation, leading to improved profitability and competitiveness in the market.

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Top 12 Companies in the Aviation Analytics Industry:

1. Capgemini SE
2. General Electric Company
3. GrayMatter Software Services Pvt Ltd
4. Honeywell International Inc.
5. IGT Solutions Pvt. Ltd.
6. International Business Machines Corporation
7. Lufthansa Technik AG (Deutsche Lufthansa AG)
8. OAG Aviation Worldwide Limited
9. Oracle Corporation
10. Ramco Systems Limited
11. RELX Group plc
12. SAS Institute Inc.

Aviation Analytics Market Report Segmentation:

By Component:

• Software
• Services

Services dominate the market as many airlines and aviation organizations lack the in-house resources and capabilities to develop and deploy analytics solutions independently.

By Deployment Mode:

• On-premises
• Cloud-based

Based on the deployment mode, the market has been divided into on-premises and cloud-based.

By Business Function:

• Sales and Marketing
• Finance
• Maintenance
• Repair and Operations
• Supply Chain

Finance holds the largest market share as it plays a critical role in managing costs across various aspects of aviation operations.

By Application:

• Flight Risk Management
• Inventory Management
• Fuel Management
• Revenue Management
• Customer Analytics
• Navigation Services

Based on the application, the market has been divided into flight risk management, inventory management, fuel management, revenue management, customer analytics, and navigation services.

By End User:

• Airlines
• Airports
• Others

Airlines dominate the market as they have access to extensive data sources including flight operations, aircraft performance, maintenance records, passenger demographics, and booking trends.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America’s dominance in the aviation analytics market is attributed to advanced aviation infrastructures, with a vast network of airports, airlines, and air traffic management systems.

Global Aviation Analytics Market Trends:

Presently, there is a growing emphasis on predictive maintenance in the aviation industry, driven by the need to minimize aircraft downtime, reduce maintenance costs, and enhance safety. Aviation analytics enables predictive maintenance by analyzing aircraft sensor data, historical maintenance records, and other relevant information to predict potential equipment failures and schedule maintenance proactively, thereby optimizing aircraft availability and reliability. Besides, airlines are increasingly leveraging aviation analytics to optimize flight operations and improve fuel efficiency. By analyzing factors such as weather conditions, airspace congestion, flight routes, and aircraft performance data, airlines can identify opportunities to reduce fuel consumption, optimize flight trajectories, and minimize emissions.

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