Global Artificial Intelligence in Aviation Market 2021: By Offering (Hardware, Software, Services), By Technology (Machine Learning, Natural Language Processing, Context Awareness Computing, Computer Vision), By Application (Virtual Assistant, Smart Maintenance, Manufacturing, Training, Surveillance, Flight Operations, Dynamic Pricing, Others)
Global Artificial Intelligence in Aviation Market is the title of an upcoming market research report in the process of research and completion at Trusted Business Insights. Critical factors have been researched, analyzed, and considered in minute detail for study and analysis of the findings. All vital data and information is presented, including key and trends, growth driving factors, restraints, potential revenue opportunities in untapped regions and countries, and threats. In the company profile section, detailed information of the key players operating in the target market are presented along with recent developments, strategies, and acquisitions and mergers etc. The global artificial Intelligence in aviation market is segmented on the basis of offering, technology, application, and region. Each region is further sub-segmented at country level, and revenues for segments are also provided. The report is meant for all audiences, but is of critical value to semiconductor companies, technology providers, universities & research organizations, system integrators, Artificial Intelligence (AI) solution providers, AI platform providers, cloud services providers, AI system providers, and investors & venture capitalists etc.
The Global Artificial Intelligence In Aviation market size was valued at USD $0.3 Billion in 2020, USD $0.44 Billion in 2021, forecasted to reach USD $0.64 Billion in 2022, and is projected to reach USD $13.2 Billion by 2030, and is anticipated to expand at a CAGR of 45.92% over the forecast period from 2020 to 2030.
Major airlines around the globe are focusing on delivering a more personalized traveling experience to customers. Adoption of AI in the aviation sector has been increasing steadily since its advent, and solutions enable more efficient crew management, flight maintenance, ticketing systems, passenger identification, customer service, simplified communication etc. Others include messaging automation, crew management, fuel efficiency optimization, inflight sales and food supply, airport experience enhancement, predictive management, predictive maintenance, workforce optimization, social media analysis, air safety, fuel consumption optimization, and the areas of application are expected to continue to increase and expand in future.
There are numerous factors that are driving demand and adoption of AI in the aviation sector AI enables making informed decisions about ticket and product pricing, as well as aids in market positioning through the use of data. AI can aid in machine vision, predictive analytics, machine learning, robotics and automation, and natural language processing, pattern recognition, targeted advertising, auto scheduling, and customer feedback analysis. A major trend observed in the market include rising adoption of emerging and technologically advanced solutions such as AI, Internet of Things (IoT), Augmented Reality (AR), and Virtual Reality (VR). AI solutions and features include virtual assistants that are capable of gathering information by prompting the user based on inputs and at a point automating the intended task.
Global Artificial Intelligence in Aviation Market Segment Analysis:
Among the offering segments, the software segment accounts for highest revenue share, and this is attributed to advancements and developments with regard to AI software for varying applications.
Among the technology segments, the machine learning segment is projected to account for highest revenue share, and this is attributed to ALs capability to perform complex calculations that humans are incapable of doing, as well as its ability to gather and manage big data.
Among the application segments, the virtual assistant segment is projected to account for highest share in terms of revenue.
Global Artificial Intelligence in Aviation Market Regional Analysis:
The market in North America currently accounts for highest revenue share in the global artificial intelligence in aviation market, and is projected to maintain its dominance over the forecast period. Asia Pacific is projected to follow North America closely in terms of revenue share, owing to major rising demand for AI solutions for deployment in the aviation sector from countries in the region such as China and India.
Below are the leading companies profiled in this Artificial Intelligence In Aviation Market Report:
- Airbus (France)
- Amazon Web Services Inc.
- Boeing (US)
- Garmin (US)
- General Electric (US)
- IBM Corporation
- Intel Corporation
- Lockheed Martin Corporation
- Micron Technology Inc.
- NVIDIA Corporation
- Samsung (South Korea)
- TAV Technologies
- Thales Group
- Xilinx (US)
Global Artificial Intelligence in Aviation Market Segmentation:
- Machine Learning
- Natural Language Processing
- Context Awareness Computing
- Computer Vision
- Virtual Assistant
- Smart Maintenance
- Flight Operations
- Dynamic Pricing
This research comprehensively answers the following 9 important questions:
- Q.1. What are some of the most promising growth trends in the Artificial Intelligence In Aviation market worldwide?
- Q.2.Which segments and sub-segments will grow at a faster pace and why? Which segment is nearing the peak and demand saturation?
- Q.3.Which region will witness a higher growth rate and why? Which region might see a slower or negative growth region?
- Q.4.What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in Artificial Intelligence In Aviation market?
- Q.5.What are the business risks and who pose challenges to the global leaders and are competitive threats in this Artificial Intelligence In Aviation market?
- Q.6.What are the emerging trends post COVID-19 reshuffle in this Artificial Intelligence In Aviation market and the what are reasons behind these trends and do they translate in global exploration?
- Q.7. Who are the major global and regional players in the Artificial Intelligence In Aviation market? Which are the strategic initiatives key players are pursuing for business growth?
- Q.8.Which are the competing products in Artificial Intelligence In Aviation market and how big of a threat do they pose for loss of market share by material or product substitution?
- Q.9.What M & A activity has occurred in the last 5 years and what is its impact on the Artificial Intelligence In Aviation industry?