Aviation Analytics Market Size, Share, Growth, Trends, and Forecast 2030

Aviation Analytics Industry Prospective:

The global aviation analytics market size was evaluated at $4 billion in 2022 and is slated to hit $8 billion by the end of 2030 with a CAGR of nearly 9.8% between 2023 and 2030.

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Aviation Analytics Market: Overview

The adoption of aviation analytics by most organizations is due to the fact that these solutions help them to develop their operational performance, maintenance, and profitability. In order to cater to the upcoming demands such as the requirements of the customer, the organizations are adopting aviation analytics, which offers to improve the analytical resolution and also helps in maximizing the operating revenue of the organizations.

The various applications for which aviation analytics solutions are being utilized in the aviation industry include fuel management, revenue management, customer analytics, and risk management. The solutions of aviation analytics provide enterprises with facilities such as to monitor, measure, and analyze their business goals, challenges, and future plans regarding the growth of the enterprise.

Key Insights

• As per the analysis shared by our research analyst, the global aviation analytics market is projected to expand annually at the annual growth rate of around 9.8% over the forecast timespan (2023-2030)
• In terms of revenue, the global aviation analytics market size was evaluated at nearly $4 billion in 2022 and is expected to reach $8 billion by 2030.
• The global aviation analytics market is anticipated to grow rapidly over the forecast timeline owing to an increase in the demand for real-time data analytics in the aviation sector.
• In terms of component, the software segment is slated to register the highest CAGR over the analysis period.
• Based on business function, the finance segment is expected to dominate the segmental growth over the assessment timeline.
• Based on end-user, the airlines segment is expected to lead the segmental expansion over the projected timeframe.
• Region-wise, the North American aviation analytics industry is projected to register the fastest CAGR during the assessment timeline.

Aviation Analytics Market: Growth Factors

Rise in the demand for real-time data analytics in the aviation sector will boost the global market trends

Vendors of the aviation analytics business are focusing on improving their analytics and intelligence solutions for enhancing their business profitability which can prove as a key factor in influencing the expansion of the global aviation analytics market. Growing focus of consumers on using jet fuel will steer the expansion of the market across the globe. Apart from this, an increase in the demand for real-time data analytics in the aviation sector will drive the expansion of the market globally. Furthermore, effective management of real-time data such as aircraft maintenance, navigation database, and flight operations are likely to boost the global market trends. Large-scale use of AI and big data for performing mechanical analysis and enhancing productivity will prop up the expansion of the market across the globe. Strategic alliances, joint ventures, and partnerships are projected to play a pivotal role in expanding the scope of growth of the global market in the upcoming years. For instance, in the first half of 2022, GE Aviation joined hands with BAE Systems for expanding its security portfolio. Such moves will push the growth of the market globally.

Aviation Analytics Market: Restraints

Less availability of analytical skills among the workforce can put brakes on the global industry surge over 2023-2030

The lack of availability of analytical skills is the key challenge that is faced by the players in the aviation analytics business. This, in turn, is predicted to halt the expansion of the aviation analytics industry globally.

Aviation Analytics Market: Opportunities

Increase in travel by air will open new horizons of growth for the global market in the next eight years

Increase in the data output in the aviation sector along with difficulty in effectively managing it is likely to open new avenues of growth for the global aviation analytics market. A surge in the number of air travelers across the globe will further steer the growth of the market globally.

Aviation Analytics Market: Challenges

Surge in the demand for big data analysis globally can hamper the global industry elevation by 2030

Increase in the use of big data analytics and the low availability of expertise in the domain is likely to prove a key challenge to the expansion of the aviation analytics industry across the globe.

Aviation Analytics Market: Segmentation

The global aviation analytics market is sectored into component, business function, application, end-user, and region.

In component terms, the global aviation analytics market is segregated into services and software segments. Furthermore, the software segment, which gathered nearly 53% of the global market revenue share in 2022, is projected to register the fastest CAGR in the ensuing years. The growth of the segment in the estimated timeline can be due to a rise in the allocating of funds by the market players for developing new software for aviation for improving operations in the aviation industry.

Based on the business function, the global aviation analytics industry is sectored into maintenance, repair & operations, sales & marketing, supply chain, and finance segments. Moreover, the finance segment, which amassed a huge chunk of the global industry revenue share in 2022, is projected to lead the global industry over the analysis timeline. The segmental expansion over the assessment period can be subject to a surge in the application of aviation finance analytics that includes analysis of airport earnings, accounts payables, assets, accounts receivables, revenues, and financial ratios.

Based on the end-user, the aviation analytics market across the globe is divided into airlines, airports, and others. Moreover, the airlines segment, which accumulated nearly 45% of the global market revenue share in 2022, is projected to lead the end-user space in the ensuing years. The growth of the segment in the assessment period can be due to escalating demand for aviation analytics in commercial aviation applications.

Based on the application, the aviation analytics industry globally is bifurcated into fuel management, customer analytics, inventory management, flight risk management, revenue management, and navigation services segments.

Aviation Analytics Market: Report Scope

 Aviation Analytics Market: Regional Insights

Asia-Pacific is projected to maintain global market domination over the assessment timeline

Asia-Pacific, which contributed about two-fifths of the global aviation analytics market revenue in 2022, is anticipated to lead the global market earnings in the upcoming years. The growth of the market in the region can be attributed to a prominent increase in air travel in countries such as India and China. Apart from this, the thriving civil aviation sector in the region will further boost the regional market trends.

North American aviation analytics industry is set to register the fastest CAGR in the upcoming years due to the large-scale presence of key players in countries such as Canada and the U.S. Apart from this, increased adoption of industrial aviation analytics by the different enterprises in the U.S. for enhancing their operational performance will steer the regional industry trends.

 Aviation Analytics Market: Competitive Space

The global aviation analytics market profiles key players such as:

• Oracle Corporation
• Aviation Analytics Ltd.
• General Electric
• SAS Institute
• Booz Allen Hamilton
• Ramco International
• IBM Corporation
• SAP SE
• Mu-Sigma.

The global aviation analytics market is segmented as follows:

By Component

• Services
• Software

By Business Function

• Maintenance
• Repair & Operations
• Sales & Marketing
• Supply Chain
• Finance

By End-User

• Airlines
• Airports
• Others

By Application

• Customer Analytics
• Flight Risk Management
• Fuel Management
• Revenue Management

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa