Graphic depiction of world air routes.
Bplewe, CC BY-SA 4.0, via Wikimedia Commons

Artificial Intelligence in 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 USD 3,402.84 million by 2027.

Late last month, the “Artificial Intelligence in Aviation Market Research Report by Technology, Offering, Application, Region – Global Forecast to 2027 – Cumulative Impact of COVID-19” Report was published by Research And Markets.

Competitive Strategic Window


The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects.

It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix


The FPNV Positioning Matrix evaluates and categorizes the vendors in the Artificial Intelligence in Aviation Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support).

The Matrix also considers Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis


The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space.

It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year.

It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

Market intelligence provided by Report


The recently published report provides several market-related insights, including:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

Key questions addressed


The Report acknowledges and addresses some key questions with respect to 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 shaping the Global Artificial Intelligence in Aviation Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over 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 leading vendors in the Global Artificial Intelligence in Aviation Market?

7. What modes and strategic moves are considered suitable for entering the Global Artificial Intelligence in Aviation Market?

Market Dynamics


A ‘SWOT’ (Strengths, Weakness, Opportunities, Threats) provided in the Report is summarized as follows:

Drivers
  • Increasing use of Big Data in the aviation industry
  • Significant increase in investments for AI by aviation companies
  • Increasing adoption of cloud-based applications
  • Increasing chatbots use to direct users to specific services
  • AI adoption for virtual assistance and smart logistics
Restraints
  • Dearth of AI experts
Opportunities
  • Increasing AI applications in aviation security
  • Increasing investment to improve the customer experience
  • Predictive analytics by AI work through maintenance data
Challenges
  • Data security & privacy concerns

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