CONNECTED AIRCRAFT MARKET TO REACH USD 9.5 BILLION BY 2024 | CAGR 16.2% – FORENCIS RESEARCH

Global Connected Aircraft Market: Key Highlights

• According to the new market research report “Connected Aircraft Market by Component (Hardware, Software), by Connectivity Type (In-flight, Ground-to-Aircraft), by Offerings (Data Management, Flight Support Services, Cabin Connectivity Services, Ground Handling Services, Maintenance Services, Satellite Communication System), by Frequency Band (Ka-band, Ku-band, L-band), by End-User (Civil, Commercial, Military), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2017 to 2024)”, the global Connected Aircraft market is estimated to reach USD 9.5 Billion by 2024 at a CAGR of around 16.2% during the review period.
• Connected aircraft can be defined as the aircraft which is connected with the rest of the world with help of internet irrespective of its location
• Connected aircrafts give passengers promising in-flight experience by enabling them to access to Wi-Fi services on flight, caters pilot with paperless operational activity and on-process information, and the cabin crew to enhance overall passenger on flight experience
• Technological innovations in satellite communication have created new avenues for connected aircraft market.

Global Connected Aircraft Market: Key Market Dynamics

• Passengers in airlines expect high-speed Wi-Fi for video streaming, texting, replying to emails and to surf social media. Growing demand for in-flight entertainment services has expected to contribute the growth of connected aircraft market
• Growing demand for optimized airline processes has expected to contribute towards the growth of connected aircrafts market
• Increasing chances of theft of cyberattacks may require better monitoring systems is one of the major challenge faced by connected aircrafts market

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Global Connected Aircraft Market: Regional Overview

• North America

The connected aircraft market in the North America region is projected to witness high demand due to growing number of aircraft orders and increasing commercial usage of connected aircraft technologies. Additionally, the connected aircraft technology is slowly gaining importance in military. The US aerospace industry is the largest across the globe and contributed to around USD 374 billion of the country’s GDP in 2018.

• Europe

Owing to the rapid growth of the aerospace & defense industry in Europe, the demand for connected aircraft is expected to increase. Additionally, flourishing aviation sector and adoption of advanced technology may drive the demand for product market. According to the Aerospace & Defense Industries Association of Europe, the total turnover stood at USD 281.67 billion in 2018. The country invested USD 21.76 billion in aerospace & defense R&D.

Global Connected Aircraft Market: Key Players Overview

• GOGO LLC.:

GOGO LLC is one of the leading provider of broadband connectivity services and products for aviation.  In October 2018, the company launched partner with Brazil's GOL Linhas Aereas, which will help Gogo LLC to launch of Aircraft Data Service, Wireless Quick Access Recorder and Automated Turbulence Reporting which will help in tapping into aircraft data to drive operational efficiency.

• Honeywell International Inc.:

Honeywell International Inc. is a US-based company engaged in the invention and commercialization of technologies for overcoming the challenges across energy, safety, security, productivity, and global urbanization. It operates through major business segments, i.e., aerospace, Honeywell building technologies, performance materials and technologies, and safety and productivity solutions. In June 2019, the company announced Honeywell Forge for Airlines, an advanced analytics based platform for airlines which will help to improve efficiency and overall passenger experience.

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