Aviation Analytics Market Overview
Aviation analytics helps to develop analytical resolution in order to cater future demand such as needs of customer which will also help enterprises to maximize their operating revenue. Aviation analytics also allows the enterpriser to measure, monitor and analyze their business goals, risk, and future growth of the enterprise. Apart from these features, aviation analytics solutions also used across the aviation industry for various applications such as fuel management, revenue management, customer analytics and risk management.
Market Size and Forecast
Global aviation analytics market is anticipated to flourish at a CAGR of 15.2% during the forecast period 2017-2024. Further, the market of aviation analytics was valued at USD 2.1 Billion in 2016 and is projected to garner USD 7.8 Billion by the end of 2024. Furthermore, the market of aviation analytics is anticipated to grow on the account of the growth of the aviation industry across the globe. Similarly, increasing focus on analytical solutions, increasing volume of data generated to analyze the aviation industry, increasing customer centricity in the aviation industry and increasing aviation passenger traffic is opening the opportunities for the growth of the aviation analytics market.
In the regional market, North America is anticipated to account for a significant portion of market share in the overall market of aviation analytics during the forecast period. Factors such as increasing consumer expectations, the growing pressure of reducing costs and improvement in operational efficiency is anticipated to fuel the growth of the global aviation analytics market over the forecast period.
Asia Pacific aviation analytics market is expected to witness substantial growth over the forecast period. Factor such as growing demand for cloud driven advanced analytics which are cloud supported in the region bodes well for aviation analytics market. This factor is envisioned to strengthen the growth of aviation analytics market in Asia Pacific.
Europe aviation analytics market is expected to witness substantial growth over the forecast period. Factors such as increasing investments and advancements in the field of cloud technology are envisioned to strengthen the growth of aviation analytics market in Europe.
Based on applications, aviation analytics market is segmented into fuel management, flight risk management, revenue management, customer analytics, navigation services and inventory management segment, out of which, fuel management is expected to dominate the overall aviation analytics market during the forecast period.
Our in-depth analysis has segmented global aviation analytics market into the following segments:
By End User
By Business Function
Global aviation analytics market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Factors such as improvement in the analytics and intelligence solutions across the market vendors of the aviation analytics, so that they can improve their business profitability across the globe is anticipated to intensify the growth of the global aviation analytics market. In addition, increasing centricity in the aviation industry is anticipated to positively drive the growth of the aviation analytics market.
Apart from this, growing emphasis on jet fuel management is anticipated to be the dynamic factor behind the growth of the aviation analytics market. High volume of data generated in aviation industry has increased the security concern and future market. This factor is anticipated to supplement the growth of the global aviation analytics market.
Further, increasing number of aviation passenger traffic is likely to further strengthen the growth of the aviation analytics market. Moreover, the increase in real-time analytics in the industry of aviation is likely to lead current and future market growth prospects.
However, lack of availability of the analytical skills is some of the key factors which are expected to limit the growth of global aviation analytics market in upcoming years.
Scope and Context
Overview of the Parent Market
The global aviation analytics market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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