Artificial intelligence in the aviation industry is expected to reach $3.4 billion by 2027
LONDON – The global Artificial Intelligence in Aviation market size was estimated at USD 508.89 million in 2021, USD 697.59 million in 2022, and is projected to grow at a CAGR of 37.25% to reach 3,402 .84 million USD by 2027.
At the end of last month, the research report on Artificial Intelligence in Aviation Market by Technology, Supply, Application, Region – Global Forecast to 2027 – Cumulative Impact of COVID-19 was published by Research And Markets.
Competitive Strategy Window
The strategic competitive window analyzes the competitive landscape in terms of markets, applications and geographies to help the vendor define an alignment or match between its capabilities and opportunities for future growth prospects.
It describes the optimal or favorable fit for vendors to adopt successive strategies of merger and acquisition, geographic expansion, research and development, and new product introduction strategies to execute further business expansion and growth. during a forecast period.
FPNV positioning matrix
The FPNV Positioning Matrix assesses and categorizes vendors in the Artificial Intelligence in Aviation market based on business strategy (business growth, industry coverage, financial viability, and channel support).
The matrix also takes into account product satisfaction (value for money, ease of use, product features, and customer support) which helps companies make better decisions and understand the competitive landscape.
Market share analysis
The market share analysis offers the analysis of the vendors considering their contribution to the overall market. It gives the idea of its revenue generation in the overall market compared to other providers in the space.
It provides information on the performance of vendors in terms of revenue generation and customer base compared to others. Knowing the market share gives an idea of the size and competitiveness of suppliers for the reference year.
It reveals market characteristics in terms of accumulation, fragmentation, dominance and melting traits.
Market intelligence provided by Report
The recently released report provides several market-related insights including:
1. Market penetration: Provides complete information about the market offered by major players
2. Market development: Provides detailed information on lucrative emerging markets and analyzes penetration in mature market segments
3. Market Diversification: Provides detailed information on new product launches, untapped geographies, recent developments and investments
4. Evaluation and Competitive Intelligence: Provides a comprehensive assessment of key players’ market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities
5. Product development and innovation: Provides intelligent insights into future technologies, R&D activities and breakthrough product developments
Key Questions Addressed
The report recognizes and addresses some key issues regarding artificial intelligence in the global aviation sector:
1. What is the market size and forecast of the global Artificial Intelligence in Aviation market?
2. What are the inhibiting factors and impact of COVID-19 on the global Artificial Intelligence in Aviation market during the forecast period?
3. What are the products/segments/applications/areas to invest in during the forecast period in the Global Artificial Intelligence in Aviation Market?
4. What is the competitive strategic window for opportunities in the Global Artificial Intelligence in Aviation Market?
5. What are the technology trends and regulatory frameworks in the global Artificial Intelligence in Aviation market?
6. What is the market share of the top vendors in the global Artificial Intelligence in Aviation market?
seven. What modes and strategic moves are considered suitable for entering the global Artificial Intelligence in Aviation market?
Market dynamics
A “SWOT” (Strengths, Weaknesses, Opportunities, Threats) provided in the report is summarized as follows:
Drivers
- Growing use of Big Data in the aviation industry
- Significant increase in investment for AI by airlines
- Increased adoption of cloud-based applications
- Increased use of chatbots to direct users to specific services
- Adoption of AI for Virtual Assistance and Smart Logistics
Constraints
Opportunities
- Increasing AI applications in aviation safety
- Increase investments to improve the customer experience
- AI predictive analytics works with maintenance data
Challenges
- Data security and privacy issues
