(MENAFN- Market Press Release) January 14, 2022 11:54 am - In-flight Entertainment and Connectivity Market is estimated to be USD 4.7 billion in 2021 and is projected to reach USD 6.1 billion by 2026, at a CAGR of 5.2% during the forecast period.
The report on the in-flight entertainment & connectivity market provides a detailed trend analysis from 2017 to 2026. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market. The Global In-flight Entertainment & Connectivity Market is estimated to be USD 4.7 billion in 2021 and is projected to reach USD 6.1 billion by 2026, at a CAGR of 5.2% during the forecast period. The growth of this market is mainly driven by the increased demand for in-flight experience, increase in aircraft renewals and aircraft deliveries and technological shift.
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on product, the IFE hardware segment is estimated to lead the market during the forecast period, with a share of 60% in 2021. IFE hardware enables airline operators to upload, store, and transfer entertainment content on the in-flight entertainment systems. Increasing product launches by companies such as Thales Group drive the growth of the segment. These products offer features such as open operating system and 4K HDR displays.
Based on class, the first class segment is projected to be the highest CAGR rate for the in-flight entertainment & connectivity market during the forecast period. The demand for in-flight comfort and premium services laid the foundation for first class segment. It is the most premium of all the segments. The services start even before the actual flight with transfer from hotels, private check in, premium lounge access. In-flight, the first-class seats are more comfortable and spacious with high quality.
Based on the aircraft type, the narrow body aircraft segment is projected to grow at the highest CAGR rate for the in-flight entertainment & connectivity market during the forecast period. In countries such as India, Japan, Australia, China, the US, and Russia, the demand for domestic air travel has been increasing over the years. According to IATA, in 2019, international air passenger traffic increased 4.1% compared to 2018. Due to the increase in air travel, the demand for narrow body aircraft is expected to grow across the world.
Based on end user, the OEM segment is projected to grow at the highest CAGR rate for the in-flight entertainment & connectivity market during the forecast period. The new airlines focus on pre-installed in-flight system provided by manufacturers. The increase demand of Low-cost carrier can also be seen the southeast Asian region. With the increase in number of passengers aided by the increase in number of aircrafts around the world. The demand of in-flight entertainment has also picked up pace.
In-flight entertainment & connectivity market in North America is projected to hold the highest market share during the forecast period. North America accounted for the largest share of 50.0% of the in-flight entertainment & connectivity market and is expected to grow at a CAGR of 5.7% during the forecast period. The presence of major in-flight entertainment & connectivity manufacturers like Viasat, Inc., Astronics Corporation ridium Communications Inc. and Gogo LLC is one of the major reasons for the growth.
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