Aviation Analytics Global Market 2024 To Reach $5.84 Billion By 2028 At Rate Of 14.1%

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 16, 2024 /EINPresswire.com/ -- The aviation analytics market has experienced robust growth in recent years, expanding from $3.01 billion in 2023 to $3.44 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to increased data generation in aviation, emphasis on safety and operational efficiency, rising complexity of airline operations, competition and cost management, increased demand for enhanced customer experience.

What Is The Estimated Market Size Of The Global Aviation Analytics Market And Its Annual Growth Rate?
The aviation analytics market is projected to continue its strong growth, reaching $5.84 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to advanced predictive maintenance, greater emphasis on safety analytics, increasing demand for real-time analytics, regulatory compliance and reporting, market demand for advanced analytics platforms.

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Growth Driver Of The Aviation Analytics Market
The increasing adoption of 5G networks is expected to propel the growth of the aviation analytics market. 5G networks represent the fifth generation of wireless technology for cellular communication. They are designed to provide significantly faster data speeds, lower latency, and increased network capacity compared to previous generations (such as 4G LTE). 5G networks provide significantly higher data transmission speeds and reduced latency compared to previous generations. This enables faster and more efficient data transfer, which is crucial for real-time analytics in the aviation industry.

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Who Are the Leading Competitors in the Aviation Analytics Market Share?
Key players in the aviation analytics market include IBM Corporation, Ramco Systems, SAP S. E., Swiss Aviation Software, Lufthansa Technik, Honeywell International Inc., Aviation Analytics, Airbus SAS, Boeing Company, Collins Aerospace, Oracle Corporation, General Electric Company, SAS Institute Inc., OAG Aviation Worldwide Limited, Accelya Solutions India Limited, Cirium (LexisNexis Risk Solutions), Hitachi Vantara Corporation.

Which Key Trends Are Driving Aviation Analytics Market Growth?
Technological advancement is a key trend gaining popularity in the aviation analytics market. Airlines and airports are increasingly adopting new technology and turning to aviation analytics to automate operations, cut costs, and improve customer satisfaction.

How Is The Global Aviation Analytics Market Segmented?
1) By Component: Services, Solutions
2) By Deployment: On-Premise, Cloud
3) By Business Function: Finance, Operations, Maintenance And Repair, Sales And Marketing, Supply Chain, Other Business Functions
4) By Application: Flight Risk Management, Fuel Management, Rout Management, Fleet Management, Inventory Management, Wealth Management, Inspection, Performance Monitoring, Predictive Analysis, Part Replacement, Supply Chain Planning, Energy Management
5) By End User: OEMs, Airlines, Airports, MROs

Geographical Insights: North America Leading The Aviation Analytics Market
North America was the largest region in the aviation analytics market in 2023.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the aviation analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Aviation Analytics Market Definition
Aviation analytics refers to a computational technology that provides end-users with information or statistics derived from past airport operating data, historical flight data, weather predictions, and real-time flight data. It allows for predictive analysis and query processing of large amounts of structured and unstructured aviation data. Aviation analytics is staffed by specialists in the aviation sector with various expertise, including business process engineering, sales and marketing, and accounting.

Aviation Analytics Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global aviation analytics market report covering trends, opportunities, strategies, and more
The Aviation Analytics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on aviation analytics market size, aviation analytics market drivers and trends, aviation analytics market major players, aviation analytics competitors' revenues, aviation analytics market positioning, and aviation analytics market growth across geographies. The aviation analytics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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