Artificial Intelligence in Aviation Market Size
The Artificial Intelligence in Aviation Market is estimated to grow from USD 241.73 Million in 2019 to reach USD 5,229.97 Million by 2027, at a CAGR of 46.9% during the forecast period from 2020-2027.
Increasing adoption of different cloud-based applications are various services in the aviation industry, increasing capital investments by the companies in the aviation industry and varied uses of big-data in the aerospace industry are some of the factors driving the overall growth of global market.
| Final Report will have an in-depth analysis of the COVID-19 impact on the Artificial Intelligence in Aviation Market |
Artificial Intelligence in Aviation Market by Offering (Services, Software, Hardware); by Application (Smart Maintenance, Virtual Assistants and Others); by Technology (NLP, Machine Learning, Computer Vision and Context Awareness Computing) and by Region: Global Industry Trends, Dynamics, Competitive Insights and Forecast Analysis, 2020 – 2027.
Market Drivers, Restraints, Opportunities
Drivers:
• Increasing Adoption of Cloud-Based Applications and Services in Aviation Industry
• Use of Big Data in Aerospace Industry
• Significant Increase in Capital Investments by Aviation Companies
Restraints:
• Limited Number of Experts in AI
Opportunities:
• Improved Operational Efficiency with the Help of AI in Aviation Industry
• Increasing Adoption of AI to Improve Customer Services
Challenges:
• Concerns Regarding Data Privacy
Artificial Intelligence in Aviation Companies
Top key players in Artificial Intelligence in Aviation Market analysis
- NVIDIA (US)
- Intel (US)
- Microsoft (US)
- Amazon (US)
- Boeing (US)
- IBM (US)
- Xilinx (US)
- Micron (US)
- Garmin (US)
- General Electric (US)
- Lockheed Martin (US)
- Airbus (France)
- Thales (France)
- Samsung (South Korea)
The report provides key player analysis along with company revenue shares in order to give a broader overview of the market players in the Artificial Intelligence in Aviation market.
Market Overview
The market report covers a basic overview of the market from the industry perspective. This will help the reader to get a gist about different industry dimensions from a manufacturer’s view. The report divides the market into different sections and is comprised of market revenue (value) by segments.
The report provides market data from 2016 till 2027, wherein, 2016 to 2018 will be historic years, 2019 would be the base year and 2020 to 2027 will be forecast years. The report provides different statistics and figures and charts that will help analyze trends and global Artificial Intelligence in Aviation market share along with its growth rate in different regions and countries.
Key players across the globe are profiled in the report along with its company landscaping. Product portfolio for each company, recent developments and company strategies are covered along with the company financials.
Economy Trends & Strategic Analysis
Various drivers, restraints and opportunities in the Artificial Intelligence in Aviation market are analyzed in detail in the report. Key drivers that make the overall market grow are discussed thoroughly, along with its impact on the sales of different product types. Report also features restraining factors that are likely to restrain the market growth. As well, different opportunities which will propel the market in future and bring new growth avenues for major market players are discussed in detail. This will help in understanding the overall dynamics prevailing in the historic as well as in coming years.
Apart from this, the report covers various collaborations, mergers and acquisitions, regional expansions, new product launches and product pipelines for the key players involved in the market.
Segmentation Analysis
The report describes in detail market segmentation by dividing the market based on its Offering, Application, Technology and region and is analyzed from 2016 to 2027 by value. All the segments are evaluated by taking into consideration the historic and future trends. All the segments with the dominating & fastest growing sub-segments and the factors responsible for the same are studied and are mentioned in the report.
Evident quantitative as well as qualitative insights about the segments are covered in the report along with forecast analysis of all the segments that expected to alter the market in the future are described in detail. The segmental analysis also highlights details about different aspects that will influence the market.
The report gives the pursuer the complete idea and understanding of the market and the regional and country level value and volume scenario and essentials for the industry. Current market insights on the regional level are studied and centered while market estimation, thus giving the reader a specialized idea & plans, financial as well as recent market advancements globally.
| Hardware segment is anticipated to grow at the fastest CAGR of 47.2% in the forecast years |
To view intelligent capabilities comparable to the human brain, AI systems require highly effective and powerul hardware. Hence, the fast growth of hardware market can be attributed to the growing need for high computing power hardware platforms to run different machine learning algorithms on both devices as well as the servers.
| Surveillance application is expected to grow at the fastest rate of 46.9% from 2019 to 2027 |
The surveillance application is expected to grow at the fastest rate of 46.9% in the near future. This fast growth is owing to the wide-ranging developments in the AI-enabled drone surveillance sector which is primarily designed for aviation industry inspection purposes.
| "Machine learning is expected to hold the largest share in 2019" |
Machine learning's ability to collect and analyze large data, along with its improved ability to render previously difficult calculations, is driving the growth of the machine learning industry.
Artificial Intelligence in Aviation Market Scope
| Attribute | Details |
| Market Size in 2019 | USD 241.73 Million |
| Market Size in 2027 | USD 5,229.97 Million |
| CAGR (%) | 46.9% |
| Historic Period | 2017 - 2018 |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Segments Covered | Offering, Application, Technology, Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Key Players Analysis | NVIDIA (US), Intel (US), Microsoft (US), Amazon (US), Boeing (US), IBM (US), Xilinx (US), Micron (US), Garmin (US), General Electric (US), Lockheed Martin (US), Airbus (France), Thales (France) and Samsung (South Korea) among others |
Artificial Intelligence in Aviation Market Segmentation
By Offering
• Services
• Software
• Hardware
By Application
• Smart Maintenance
• Virtual Assistants
• Surveillance
• Manufacturing
• Dynamic Pricing
• Training
• Flight Operations
• Others
By Technology
• Natural Language Processing
• Machine Learning
• Computer Vision
• Context Awareness Computing
By Region
• North America
-U.S.
-Canada
-Rest of North America
• Europe
-UK
-Germany
-France
-Italy
-Spain
-Russia
-Rest of Europe
• Asia Pacific
-China
-Japan
-India
-Australia
-Southeast Asia
-Rest of Asia Pacific
• Latin America
-Brazil
-Mexico
-Rest of Latin America
• Middle East and Africa
-Saudi Arabia
-South Africa
-UAE
-Rest of Middle East and Africa
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