Global Connected Aircraft market trends 2024, Forecast To 2033
1 Mar, 2024
The connected aircraft market size has grown rapidly in recent years. It will grow from $6.82 billion in 2023 to$7.99 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to demand for operational efficiency, enhanced safety and situational awareness, rise in air passenger traffic, fuel efficiency and emissions reduction, government regulations and standards, increased aircraft complexity. The connected aircraft market size is expected to see rapid growth in the next few years. It will grow to $14.45 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to next-gen air traffic management, demand for in-flight connectivity, predictive maintenance and health monitoring, smart cabin solutions, integration with ground operations, urban air mobility (UAM) expansion, green aviation initiatives. Major trends in the forecast period include rapid adoption of in-flight connectivity, integration of IoT technologies, enhanced aircraft health monitoring, digitalization of cockpit and cabin systems, data analytics and artificial intelligence (AI), cybersecurity concerns.
Global Connected Aircraft Market Key Driver
An increase in air passenger travel is expected to propel the growth of the connected aircraft market going forward. Air travel refers to the process of boarding an aircraft for the purpose of travelling from one location to another by any flying object. The increase in air passenger travel is resulting in airline companies making the addition of aircraft to their fleets to cater to the needs of the air passengers. For instance, in February 2023, according to the International Air Transport Association, a Canada-based trade association data, the revenue passenger kilometers, or RPKs, representing total traffic in 2022 increased by 64.4% over 2021. Compared to 2021, international traffic increased by 152.7% in 2022. In 2022, domestic traffic increased by 10.9% over the previous year. Therefore, the increase in air passenger travel is driving the growth of the connected aircraft market. In 2023, the connected aircraft market size stood at $5.6 billion, and it is anticipated to grow to $12.3 billion by 2028.
Get A Free Sample Of The Global Connected Aircraft Market ReportGlobal Connected Aircraft Market Segments
The global connected aircraft market covered in this report is segmented –
1) By Type: Systems, Solutions
2) By Connectivity: Inflight Connectivity, Air-to-Air Connectivity, Air-to-Ground Connectivity
3) By Frequency Band: Ka-band, Ku-band, L-band
4) By Application: Commercial, Military
By Geography: The regions covered in the connected aircraft market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the connected aircraft market in 2023. North America is expected to be the fastest-growing region in the connected aircraft market report during the forecast period. The regions covered in the connected aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Connected Aircraft Industry Players
Honeywell International Inc., Gogo Inc., Thales Group, Inmarsat PLC, Collins Aerospace, Viasat Inc., BAE Systems PLC, The Boeing Company, Airbus SE, Bombardier Aviation, Kontron AG, Panasonic Avionics Corporation, Nelco Ltd., Eutelsat S.A., Zodiac Aerospace, L3Harris Technologies, Société Internationale de Télécommunications Aéronautiques, Global Eagle Entertainment Inc., Cobham Aerospace Communications, Astronics Corporation, SmartSky Networks LLC, Intelsat S.A., Iridium Communications Inc., AeroVironment Inc., Avionica Inc., Satcom Direct Inc., Airspan Networks Inc., Tata SIA Airlines Limited, Gilat Satellite Networks Ltd., Phasor Inc.
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Connected Aircraft Market Overview
Connected aircraft refers to solutions that are designed to transform modern-day flying by integrating satellite components, aeroplane hardware, airtime connectivity, and on- and off-board apps and services to alter the way people communicate in the aviation. It is used to provide seamless connections between the aircraft and the ground and to increase flight efficiency, safety and to enhance the passenger experience.
Connected Aircraft Global Market Report 2023 provides data on the global connected aircraft market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The connected aircraft market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.