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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Aviation Analytics Global Market Report 2022' -
Ltd, OAG Aviation Worldwide Limited, GrayMatter Software Services Pvt ltd, Capgemini and Relx Group plc.
The global aviation analytics market is expected to grow from $2.41 billion in 2021 to $2.70 billion in 2022 at a compound annual growth rate (CAGR) of 11.79%. The aviation analytics market is expected to grow to $4.71 billion in 2026 at a compound annual growth rate (CAGR) of 14.96%.
The aviation analytics market consists of sales of aviation analytics software and solutions by entities (organizations, sole traders, and partnerships) that 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.
The main component of aviation analytics is services and solutions.The services for aviation analytics to services that are used to optimize the efficiencies of flights and airport operations.
These are deployed on-premise and cloud.The various Business Function requiring aviation analytics are finance, operations, maintenance and repair, sales and marketing, supply chain, and others (data analytics) and have applications in-flight risk management, fuel management, route management, fleet management, inventory management, wealth management, inspection, performance monitoring, predictive analysis, part replacement, supply chain planning and energy management.
The main End User is OEMs, airlines, airports and MROs.
North America was the largest region in the aviation analytics market in 2021.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 and Africa.
The aviation analytics market research report is one of a series of new reports that provides aviation analytics market statistics, including aviation analytics industry global market size, regional shares, competitors with a aviation analytics market share, detailed aviation analytics market segments, market trends and opportunities, and any further data you may need to thrive in the aviation analytics industry. This aviation analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The rise in aviation passenger traffic is contributing to the growth of the aviation analytics market.Aviation analytics provides software and services that will help airports bring together their data so that the data is viewed by airport management in a complete and coordinated way.
Aviation analytics will provide effective solutions to streamline the whole process of simplifying passenger traffic and making the operations hassle-free.According to the International Air Transport Association (IATA) passenger data for March 2022, total traffic in March 2022 (measured in revenue passenger kilometres or RPKs) was up 76% compared to March 2021.
Thus, an increase in aviation will drive the aviation analytics market.
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.
For instance, in May 2021, Alaska Airlines signed a contract to deploy the Flyways AI technology.It is a flight tracking and routing program that helps dispatchers make better judgments and plan more effective routes.
The technology generates data-driven forecasts and makes flight operations and routing suggestions. Flyways helped the airline cut miles, save 480,000 gallons of fuel, and save 4,600 tonnes of carbon emissions over the six-month trial period.
In October 2021, Atlantic Aviation Group, an Ireland-based Aircraft maintenance company, acquired Lufthansa Technik Shannon (LTSL) from its German parent Lufthansa Technik for an undisclosed amount.The acquisition allows AAG to maintain its current development trajectory while also taking advantage of the post-pandemic recovery in international aviation.
Lufthansa Technik Shannon, a Germany-based company, provides maintenance, completions, repair, and overhaul services for aircraft, maintenance, repair, and MRO, OEM services for engines and components.
The countries covered in the aviation analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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