Global Aviation Analytics Size & Analysis – Forecasts To 2026 By End User (Airlines, Airports, Others), By Business Function (Finance, Operations, Supply Chain, Maintenance & Repair, Sales & Marketing), By Application (Fuel Management, Flight Risk Management, Revenue Management, Customer Analytics, Navigation Services, Inventory Management), By Region (North America, Europe, Asia Pacific, CSA, MEA); Vendor Landscape, Company Market Share & Competitor Analysis
Global Aviation Analytics Market Insights
The Global Aviation Analytics is estimated to grow at a high CAGR during the forecast period. The market is primarily driven by significant growth in real time analytics and growing demand for competitive intelligence services. Use of analytics in organizations greatly improves profitability by reducing operational cost, while also improves efficiency of business operations to a significant extent. Aviation analytics uses current sensors as well as flight data recorder information to predict potential aircraft failure, and also facilitates other maintenance operations. Aviation analytics can potentially increase airline revenue, reduce existing costs and eventually lead to increased overall consumer satisfaction. However, high cost of deploying aviation analytics and need for various predictive models are some factors that are expected to restrain growth in the aviation analytics market during the forecast period.
Aviation Analytics Market: End User Insights
The Global Aviation Analytics can be classified into airlines and airports on the basis of end user. The airlines segment is expected to hold the larger market share in terms of revenue during the forecast period. This growth can be attributed to widespread awareness about the benefits of analytics in the aviation industry. Data collected from airlines can be used to determine and predict potential problems, and also develop efficient business models for revenue optimization.
Aviation Analytics Market: Business Function Insights
Based on function, the Global Aviation Analytics can be segmented into finance, operations, supply chain, maintenance & repair, and sales & marketing among others. The finance segment is estimated to grow significantly in terms of market size during the coming years, followed by operations. Aviation analytics facilitates companies to build financial models to ensure low costs and higher profitability. Accordingly, the service can highly benefit the operations, supply chain and marketing in the aviation industry. The sales and marketing segment is projected to grow at a significant rate during the forecast period.
Aviation Analytics Market: Application Insights
On the basis of application, the aviation analytics market can be classified into fuel management, flight risk management, revenue management, customer analytics, navigation services and inventory management among others. The customer analytics segment is expected to hold a significant market share, and is estimated to grow at the highest rate during the coming years. Customer analytics enables companies to analyze consumer patterns and take into consideration personation to devise their business strategy. The data also plays an important role in sales and marketing purposes.
Aviation Analytics Market: Regional Insights
North America is expected to hold the largest market share in terms of revenue during the forecast period. This can be attributed to the presence of numerous big data analytics companies coupled with ready availability of technical know-how. Willingness of companies to spend on data analytics and consumer insights is also expected to boost demand for aviation analytics in the region. The European market is estimated to hold the second largest market share in the industry. The Asia Pacific region is projected to grow at the highest CAGR during the forecast period.
Aviation Analytics Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase aviation analytics systems over the coming years.
Aviation Analytics Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Aviation Analytics Market Share & Competitor Analysis
Major players in the aviation analytics market are IBM Corporation, Oracle Corporation, SAP SE, General Electric, SAS Institute, Ramco International, Mu-Sigma, Mercator and Aviation Analytics among others.
In February 2019, Ciricum was launched to analyze datasets particularly for aviation industry which includes airports, airlines, Governments and travel management companies among others
In June 2017, Airbus launched Skywise- which is an aviation industry open data platform
In October 2016, Lufthansa Technik announced their plans to launch Condition Analytics to predict the exact time when aviation components should be replaced
The global aviation analytics market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the aviation analytics market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies, and customer analytics.
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- Known and unknown adjacencies impacting the market
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- Identification of revenue pockets by analysing largest and fastest growing segments and regions
- Key dynamics affecting market growth
- Analysis of key players in the market and the key strategies adopted by them to sustain their market position
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