AI in Aviation Market - Introduction
- Artificial intelligence technology is used in aviation ground operations such as air traffic control and real-time support systems in aviation operations. AI in aviation helps to improve predictive maintenance and air traffic control operations.
- Solution providers offer services and embedded systems with artificial intelligence such as passenger identification, baggage screening, facial recognition, customer support systems, and other process optimization solutions.
- The aviation industry is increasingly adopting AI technologies for revenue management, air safety & airplane maintenance, feedback analysis, messaging automation, crew management, and fuel efficiency optimization operations.
- Aviation companies are more focused on enhancing the customer experience at airports and optimizing employee workflow, which is expected to increase the demand for AI technology in the aviation industry during the forecast period.
Key Drivers of the AI in Aviation Market
- Increasing consumer spending on advanced automation technologies in the aviation sector to increase the efficiency of ground operations is expected to drive the growth of the AI in aviation market. The aviation industry is increasingly using cloud-based solutions and data management solutions to manage huge databases, which is also driving the demand for AI in the aviation sector.
- Increasing adoption of data analytics and automated customer service systems is expected to offer significant revenue opportunities to solution providers of AI in the aviation sector.
Lack of skilled professionals for AI-based operations expected to hinder the AI in aviation market
- The lack of skilled professionals in aviation companies to manage AI-based operations and deliver better results with advanced technologies is restraining the growth of the AI in aviation market. The employees require technical training to use AI technologies on the existing system and explore all features of the solution to increase productivity and efficiency of the system.
- High capital investment to integrate AI technologies in existing infrastructure is expected to hamper the growth of the AI in aviation market.
Impact of COVID-19 on the Global AI in Aviation Market
- In the global aviation market, demand for advanced solutions and technologies is decreasing during the COVID-19 period due to the low return on investment. Most countries have altered aviation and traveling policies during the COVID-19 period that negatively impacts the aviation industry across all regions. The ever-increasing threat of COVID-19 is projected to decrease the investment of companies in AI in aviation solutions and services during the pandemic period.
North America to Hold Major Share of the Global AI in Aviation Market
- North America holds a prominent share of the global AI in aviation market due to early adoption of AI-based solutions and services in the aviation industry and presence of major players in AI solutions and services.
- The AI in aviation market in Middle East & Africa and Asia Pacific is expected to expand at a rapid pace during the forecast period due to the increasing adoption of AI technologies among major players and also solution providers are increases their investment in Asia Pacific region to increase commercial customer base.
Key Players Operating in the Global AI in Aviation Market
- IBM Corporation
IBM Corporation is a multinational company, manufacturing, and marketing products including computer hardware, middleware, and software, and AI-based industrial solutions, besides providing hosting and IT consulting services.
- Microsoft Corporation
Microsoft Corporation engages in the development, manufacture, licensing, marketing, and sale of software, personal computers & services, and consumer electronics. The company operates globally and has offices in more than 190 countries. It offers solutions in AI and machine learning technologies for the aviation industry.
Other key players operating in the global AI in aviation market include Intel Corporation, NVIDIA Corporation, Micron Technology, Inc., Samsung Electronics Co., Ltd., Xilinx, Inc., Airbus Group, The Boeing Company, The General Electric Company, Thales Group, Lockheed Martin Corporation, and Garmin Ltd.
Global AI in Aviation Market: Research Scope
Global AI in Aviation Market, by Component
- Integration & Deployment
- Support & Maintenance
Global AI in Aviation Market, by Technology
- Machine Learning
- Context Awareness Computing
- Natural Language Processing (NLP)
- Computer Vision
Global AI in Aviation Market, by Application
- Smart Maintenance
- Flight Operations
- Dynamic Pricing
Global AI in Aviation Market Segmentation, by Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- Fuel Optimizing in Aviation with AI
- AI Applications in Aviation and Travel Industry
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.