Market is significantly growing due to increased use of interconnected technologies in the airline sector and an increase in passenger traffic across the world.
WILMINGTON, DE, UNITED STATES, November 15, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Airline Technology Integration Market, by Technology (Internet of Things (IoT), Cybersecurity, Artificial Intelligence, Advanced Analytics, Biometrics, Blockchain, Wearable Technology, Others), by Offering (Software, Hardware), by Deployment (On-Premises, Cloud): Global Opportunity Analysis and Industry Forecast, 2021-2031″.
The airline technology integration market size was valued at $21 billion in 2021, and is estimated to reach $89.1 billion by 2031, growing at a CAGR of 15.9% from 2022 to 2031.
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Airlines all over the world are trying to provide their customers with extraordinary experiences at every touchpoint, from the time of inquiry to the flight’s departure. They do this by responding to all of their customer’s questions and requests for feedback, handling their customers’ inquiries, and using analytics to improve their data over time. To enhance services, attract new customers, and stay ahead of maintenance challenges, the airline sector is increasingly adopting cutting-edge technologies. Numerous airlines have struggled over the past few years to keep pace with the increasing demand for comfortable and economical air travel. The airline sector is undergoing a digital revolution, and the integration of cutting-edge technology like advanced analytics, biometrics, cybersecurity, etc. into airports is just the start of that process. Due to the adoption of advanced technologies, airport officials can get information about seasonal travel trends and consumer behavior. Airport authorities can react promptly to the growth in foot traffic without revamping an airport.
The airline technology integration market is being driven by growing demand from the airline industry. To combat climate change, the airline industry has established objectives such as attaining net carbon-neutral growth, increasing fuel efficiency, and reducing net aviation carbon emissions. Thus, to reduce the environmental effects of air travel and to improve ground and flight operations and passenger satisfaction, the airline sector players are increasingly adopting cutting-edge technologies. Airlines are employing connected sensors on board their commercial aircraft to improve their capacity to undertake predictive maintenance. High implementation cost for cutting-edge technologies is expected to hamper market growth. The world has been witnessing an increase in cyber-attacks against all sectors including the airline sector. This sector is characterized by extensive interconnectivity and complexity, a high level of media exposure, and its critical role in the socioeconomic development of States. This, in turn, is expected to offer ample growth opportunities for Airline Technology Integration Industry players.
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The competitive environment of Airline Technology Integration Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Airline Technology Integration Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Honeywell International Inc.
SAP SE and Many More
The report offers a comprehensive analysis of the global airline technology integration market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working toward the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the airline technology integration market forecast period.
Airline technology integration refers to the use of the latest technologies such as internet of things (IoT), artificial intelligence (AI), big data, cloud computing, and others to collect and analyze massive amount of data generated by airline industry. Airline technology integration market is gaining huge popularity owing to the use of interconnected technologies in the airline industry and rise in the passenger traffic globally. According to the International Air Transport Association (IATA), by 2035 the global passenger traffic is anticipated to reach 7.2 billion.
Key Questions Answered in the Intelligent Study
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
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