5G in the aviation market is expected to bring in $4.68 billion by 2030:
Portland, OR, Dec. 09 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the 5G in aviation Marlet generated $0.7 billion in 2020 and is expected to reach $4.68 billion by 2030, growing at a CAGR of 22.8% from 2021 to 2030. The report provides a detailed analysis of the changing dynamics of the market, major segments, value chain, key investment pockets, regional scenario, and competitive landscape.
The upsurge in airline passenger traffic and government initiatives to support the development of 5G global growth 5G in aviation Marlet. However, the high infrastructure costs involved in the deployment of 5G technology are limiting the market to some extent. On the other hand, contracts and agreements with players in the aeronautical industry and the continuous progress of the 5G network present new opportunities in the coming years.
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COVID-19 scenario:
- The outbreak of the COVID-19 pandemic has negatively impacted the global aviation 5G market.
- There was a significant drop in the supply of 5G technology for airport and aviation applications during the initial phase of the pandemic.
- Additionally, the COVID-19 health crisis brought many complexities in transportation, as airports around the world faced bottlenecks in operational processes.
The report offers a detailed segmentation of the global 5G in aviation market based on communication infrastructure, technology, end-use and region.
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Based on communication infrastructure, the small cell segment held the highest market share in 2020, holding more than half of the total market share, and is expected to maintain its leading status during the forecast period. . Moreover, the same segment is estimated to register the highest CAGR of 23.8% from 2021 to 2030.
Based on end use, the airport segment held the largest market share in 2020, holding approximately more than two-thirds of the total market share, and is expected to maintain its leading status during the forecast period. . Moreover, the same segment is expected to register the highest CAGR of 23.6% from 2021 to 2030.
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Based on region, North America contributed the highest share in terms of revenue in 2020, holding more than a third of the total market share, and is expected to maintain its dominant share by 2030 Moreover, the Asia-Pacific region is expected to manifest the fastest CAGR of 24.4% during the forecast period.
The list of companies featured in the global 5G in aviation market analyzed in the research includes Cisco Systems, Inc., Gogo Inc., Huawei Technologies Co., Ltd., Inseego Corp., Nokia Corporation, OneWeb, Panasonic Avionics Corporation, Qualcomm Technologies, Inc., Smartsky Networks, LLC and Telefonaktiebolaget LM Ericsson.
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