Artificial Intelligence in Aviation Market: Introduction
- Artificial Intelligence and its perceptual technologies that make a sense of data can automate and streamline analytics, customer services, machinery maintenance, as well as many more internal processes and tasks. So, artificial intelligence technologies are beneficial for different aspects of airline operation management. Artificial Intelligence in aviation helps to deploy the predictive maintenance solutions to track the data of aircraft health monitoring sensors.
- Artificial intelligence in aviation helps technicians to access the historical and real-time data from any location, and the systems are compatible with mobile and desktop that gives alerts and notifications of the aircraft‘s existing technical condition and it also helps the technician to spot the issues pointing at possible malfunction and replace parts proactively.
- The adoption of artificial intelligence in the aviation market is expected to increase because AI uses powerful algorithms that automates large amount of data across the airport and it improves the factors such as productivity and decreases queue length.
Artificial Intelligence in Aviation Market: Dynamics
Artificial Intelligence in Aviation Market: Key Drivers
- Artificial intelligence in the aviation market helps in operating revenue by building good use of AI to define the destination and modify costs for particular markets, find proficient distribution channels, and supervise seats to keep the airline customer-friendly and competitive
- Artificial intelligence in the aviation market can easily permit airlines to control if there is a chance to positively interfere in the customer journey and turn a bad experience into a pleasant one. It also allows the company to respond faster in a synchronized, systematic way that is on-brand and consistent with the business’s values
- Artificial intelligence in aviation market helps the customers to extract the information from those emails so that they can automate some of the routine processes, for example, information about lost baggage
- The artificial intelligence market is estimated to expand at a rapid pace during the forecast period, due to advancements and rising adoption of self service for better customer experience and predictive aircraft maintenance
Impact of COVID-19 on the Artificial Intelligence in Aviation Market
- Increasing cases of COVID-19 across the globe are resulting in an economic slowdown. Developed countries are strongly affected by this pandemic. Businesses have been adversely impacted in most countries due to partial or full lockdown. While in the aviation industry there is a dramatic drop in demand for passenger air transport (freight to a lesser extent) and containment measures are threatening the viability of aviation industries.
North America to Hold Major Share of the Artificial Intelligence in Aviation Market
- In terms of region, the global artificial intelligence in aviation market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is the global leader in artificial intelligence in the aviation market with the largest share mainly because of new technological software that includes application program interfaces, such as speech, language, sensor data, and vision along with machine learning algorithms, to realize various applications in the aviation industry.
- The global artificial intelligence in aviation market in Asia Pacific is anticipated to expand at a rapid pace during the estimated period. The developing countries are mostly focusing on implementation of new technologies and countries like India, China and Japan are focusing on adoption of virtual assistants to several airports to serve air travelers.
Key Players Operating in the Global Artificial Intelligence in Aviation Market
- Panasonic Avionics Corporation
Panasonic Avionics Corporation was incorporated in 1979 and is headquartered in California, U.S. The company manufactures communication products and in-flight entertainment. The company offers tools and services for private and commercial aircrafts such as in-seat email, inflight email, e- greetings, mobile text messaging, and internet access for passengers and moving map applications.
- Airbus S.A.S.
Airbus S.A.S. was incorporated in 1970 and is headquartered in Blanca, France. The company designs and manufactures the aircraft to deliver innovative solutions for better connectivity. The company’s products include helicopter defense, commercial aircraft, space, and security segments. The company provides its products and services worldwide.
Other key players operating in the global artificial intelligence in aviation market include Cisco Systems, Inc., Lockheed Martin Corporation, Anuvu, GOGO LLC., Micron Technology, Inc, Ltd., Inseego Corp., Intelsat, Boeing, ONEWEB.WORLD, and SmartSky Networks, LLC
Artificial Intelligence in Aviation Market: Research Scope
Artificial Intelligence in Aviation Market, by Offerings
Artificial Intelligence in Aviation Market, by Application
- Smart Maintenance
- Dynamic Pricing
- Flight Operation
- Virtual Assistants
Artificial Intelligence in Aviation Market, by Technology
- Natural Language Processing
- Machine Learning
- Computer Vision
- Context Awareness Computing
Artificial Intelligence in Aviation Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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.