Global Airline IoT Market: Information by Application (Fleet Management, Passenger Experience Enhancement & Other Processes), by Component (IT Services, Software, Data Center Systems, Communication Services & Devices), and by Region — Global Forecast till 2023
— The global airline IoT market is set to expand at a robust CAGR of 15% over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global airline IoT market is mainly driven by the growing awareness about the potential applications of Internet of Things technology in the aviation sector, according to the MRFR report.
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The Internet of Things has become a major technology in the modern world due to its ability to connect multiple components and systems and provide accurate, comprehensive data on the functioning of larger networks. In the aviation sector, the demand for airline IoT is majorly driven by the growing awareness about its benefits in enhancing the safety of the aircraft, as IoT systems can provide integrated data about various aircraft components on one screen. This is a major benefit for the aviation sector, especially in light of the increasing rates of aircraft failure in recent years. IoT systems can be tagged on to all important components of an aircraft, which allows the airline operator to zero in and detect, or even predict, problems before they manifest. This is likely to be a major driver for the airline IoT market over the forecast period.
Another major application of IoT in the aviation sector is the use of RFID tags to locate baggage. Automation of baggage handling eliminates one of the longest-standing issues in the commercial aviation sector, i.e. customer displeasure due to mishandling or loss of their baggage items. Delta Airlines became the first airline in the U.S. to use RFID tags on baggage in 2016, with the International Air Transport Association (IATA) showing their support to the trend by committing to a global plan to mandate the use of RFID tags in airlines starting from 2020. The immeasurable benefits of the use of IoT systems in baggage management in terms of customer satisfaction are likely to be a major driver for the airline IoT market over the forecast period.
Leading players in the global airline IoT market include Sabre Corporation, Siemens AG, Oracle Corporation, Microsoft Corporation, IBM Corporation, SITA, Huawei Technologies Co. Ltd., Cisco Systems Inc., SAP SE, and Amadeus IT Group SA.
In June 2019, AirBridgeCargo Airlines and Unilode Aviation Solutions announced their joint development of digitized cargo carrying units. The units are equipped with IoT trackers that provide real-time updates on the location, temperature, humidity, and other relevant factors.
The global airline IoT market is segmented on the basis of application, component, and region.
By application, the global airline IoT market is segmented into fleet management, passenger experience enhancement, and others. The fleet management segment is further subdivided into engine performance optimization, predictive maintenance and vehicle diagnostics, and fuel management and energy savings. The increasing importance of fuel management and performance optimization in the airline industry is likely to drive the share of the fleet management segment in the airline IoT market over the forecast period. The passenger experience enhancement segment is further subdivided into in-flight entertainment and connectivity, hyper-personalization, and track and trace.
By component, the global airline IoT market is segmented into IT services, software, data center systems, communication services, and devices.
North America is likely to be the major regional market for airline IoT systems over the forecast period due to the region holding the first mover advantage in the field. The rapid development of the IoT sector in North America has led to easy availability of the technology in aviation applications, leading to widespread demand for airline IoT solutions. North American airlines have been among the leading adopters of IoT solutions and are likely to retain this status over the forecast period, leading to steady growth of the airline IoT market in the region.
Europe is also likely to hold a major position in the global airline IoT market over the forecast period due to the growing technological development of IoT systems in the region.
The growing aerospace and aviation sector in Asia Pacific are likely to drive the demand from the airline IoT market in the region over the forecast period.
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