The global IoT in aviation market is expected to reach US$ 28.7 billion by 2030, with an annual growth rate of more than 4.3%
Wilmington, Nov. 21, 2023 (GLOBE NEWSWIRE) — According to RationalStat’s recent industry report, the Global IoT in Aviation Market value is estimated at US$ 21.4 billion in 2023 and is expected to rise at a strong CAGR of over 4.3% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
The internet of things (IoT) in the aviation market refers to the integration and use of IoT devices and technologies within the aviation industry. This includes the deployment of connected devices, sensors, and systems to gather, transmit, and analyze data for various applications across the aviation ecosystem.
The global growth of IoT in the aviation market is driven by the desire for operational efficiency, cost savings, improved safety, enhanced passenger experiences, regulatory compliance, and the overall optimization of aviation processes through connected technologies.
According to a deep-dive market assessment by RationalStat, the global IoT in Aviation market has been analyzed on the basis of market segments, including component, application, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global IoT in Aviation market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global IoT in Aviation market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global IoT in Aviation Market: Segmental and Market Share Analysis
- On the basis of application, in 2022, the asset management segment accounted for a considerable revenue share of more than 28%. The aviation business deals with a number of expensive assets, which may result in increased operating expenses.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 21.4 billion |
| Market Size Forecast | US$ 28.7 billion |
| Growth Rate | 4.3% |
| Dominant Segment | Asset Management |
| Dominant Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global IoT in Aviation market include.
- In June 2021, Honeywell expanded its relationship with SmartSky to provide the best and most comprehensive in-flight connectivity services to Honeywell customers. Furthermore, Honeywell offers safety technologies that enable direct data connection interactions between pilots and air traffic controllers.
Some of the prominent players and suppliers operating and contributing significantly to the global IoT in Aviation market growth include Honeywell International, Inc, Tata Communication, Cisco Systems, Inc., Huawei Technologies Co. Ltd., SITAONAIR, Globeranger Corporation, IBM Corporation, Microsoft Corporation, SAP SE, and Wind River Systems Inc., among others.
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RationalStat has segmented the global IoT in Aviation market based on component, application, end user and region
- Global IoT in Aviation Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Component
- Hardware
- Software
- Services
- Global IoT in Aviation Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Ground Operations
- Passenger Experience
- Asset Management
- Air Traffic Management
- Global IoT in Aviation Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
- Online
- Offline
- Global IoT in Aviation Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America IoT in Aviation Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America IoT in Aviation Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe IoT in Aviation Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe IoT in Aviation Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific IoT in Aviation Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa IoT in Aviation Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America IoT in Aviation Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the IoT in Aviation Report:
- What will be the market value of the global IoT in Aviation market by 2030?
- What is the market size of the global IoT in Aviation market?
- What are the market drivers of the global IoT in Aviation market?
- What are the key trends in the global IoT in Aviation market?
- Which is the leading region in the global IoT in Aviation market?
- What are the major companies operating in the global IoT in Aviation market?
- What are the market shares by key segments in the global IoT in Aviation market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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