Global In-flight Entertainment Market: Snapshot
The global in-flight entertainment market is projected to receive telling growth prospects owing to a large demand for amusement devices for long distance flights to make time-consuming journeys enjoyable and comfortable. Excellent audio and video services are offered by aircraft carriers today to provide amusement for air passengers. Changing consumer pattern and technological development could be key for the demand for in-flight entertainment services. New airliners offering state-of-the-art infrastructure and modern in-flight entertainment equipment are foretold to augur well for market growth. In-flight entertainment could also be engaged by advertisement companies to create brand awareness through photographs and television commercials.
The global in-flight entertainment market, as noted by Transparency Market Research (TMR), is envisaged to rise at a CAGR of 12.7% between 2017 and 2022 to attain a valuation of US$6.4 bn by the final forecast year. In 2017, it was valued at a US$3.5 bn.
In-flight Entertainment Hardware to Top Share with Snowballing Demand for Amusement Devices
The world in-flight entertainment market is predicted to be classified into in-flight entertainment hardware, communication system, connectivity system, and support services as per a segmentation by component. Out of these, the market could witness the lead secured by in-flight entertainment hardware. By 2022 end, it could bag a valuation of US$3.4 bn. It is expected to rise annually with an absolute growth of US$0.3 bn, which could be larger than that of other segments in the component classification. In 2017, it gained a market share of 47.9%.
According to a segmentation by fit, the world in-flight entertainment market is anticipated to include segments such as line fit and retrofit. By application, the market could find opportunities in segments such as moving map system, audio system, video system, in-flight games, and network connectivity.
Each segment of the world in-flight entertainment market is carefully studied on the basis of revenue, market share, and year-on-year (Y-o-Y) growth comparison.
North America to See Overwhelming Growth with Rising In-flight Entertainment Connectivity Deals
The international in-flight entertainment market is prognosticated to testify the ascendancy expected to be gripped by North America in the coming years. This region could expand at a CAGR of 14.3% and attract a larger share of the market all through the course of the forecast period. In 2017, it earned a valuation of US$1.1 bn. Not the case with most markets, but Europe could be on the slower side of growth while increasing at a 10.8% CAGR. It is prophesied to be joined by the Middle East and Africa (MEA) region, which could exhibit a minimal growth of US$0.3 bn by the concluding forecast year.
With that said, Asia Pacific Excluding Japan (APEJ) and Japan are foreseen to secure an impressive share in the international in-flight entertainment market. APEJ accounted for a 13.8% of the total revenue share in 2017 whereas Japan could gain 85 basis points (BPS) during the forecast period.
Some of the important companies operating in the worldwide in-flight entertainment market could include Thales Group, Rockwell Collins, Inc., Gogo LLC, Honeywell International, Inc., Zodiac Aerospace, Global Eagle Entertainment, ViaSat, Inc., Panasonic Avionics Corporation, and FDS Avionics Corp.
Global In-flight Entertainment Market: Overview
The global in-flight entertainment market is foreseen to gain prominence in both developed and developing regions, although North America could dominate with its greater regional attractiveness. In developed nations, in-flight entertainment could set the mark for a colossal growth in the near future because of the development of networking and connectivity technologies and constant investment on innovations. With the increase in air passengers, the demand for in-flight entertainment services is expected to see a rise. Moreover, the swelling rate of upgrading old aircraft systems and rising air traffic could bode well for the growth of the market.
This report on the global in-flight entertainment market is foretold to provide a robust support for industry players to lay a solid foundation for their growth. It includes a comprehensive evaluation of the market’s growth prospects and deterrents. Furthermore, it attempts to determine the impact of buyers, substitutes, new entrants, competitors, and suppliers on the market.
Global In-flight Entertainment Market: Dynamics
The world in-flight entertainment market is prophesied to increase its revenue in the near future due to certain factors such as the rise in the count of air passengers globally and furtherance of in-flight connectivity technologies. The market could also rely on the advent of the promoted onboard application of personal electronic devices supported by government policies. With the declining effect of restraints such as data privacy and security issues and expensive installation and deployment cost of connectivity hardware and technologies, the market is predicted to recover graciously in the foreseeable future.
Global In-flight Entertainment Market: Segmentation
The international in-flight entertainment market is anticipated to see a classification as per component, fit, and application. In terms of segmentation by component, the market could be divided into in-flight entertainment hardware, communication system, connectivity system, and support services. Amongst these segments, in-flight entertainment hardware is prognosticated to make the cut in the market with a staggering share of 53.5% expected to be earned by the end of 2022.
On the basis of fit, the international in-flight entertainment market could be segregated into line fit and retrofit. By application, there could be segments such as moving map system, audio system, video system, in-flight games, and network connectivity.
As per regional segmentation, the international in-flight entertainment market is forecast to be classified into North America as a leading segment. Unlike for other markets, Europe could showcase a declined growth in the market alongside the Middle East and Africa (MEA). While Latin America could be another region of the market, Japan and Asia Pacific Excluding Japan (APEJ) are expected to grow strong in the coming years.
Global In-flight Entertainment Market: Competition
The worldwide in-flight entertainment market could witness the dominance of prominent players such as Thales Group, Rockwell Collins, Inc., Gogo LLC, Honeywell International, Inc., Zodiac Aerospace, Global Eagle Entertainment, ViaSat, Inc., Panasonic Avionics Corporation, and FDS Avionics Corp. The report offers a close study of the competitive landscape and present scenario therein so as to help players devise profiting strategies that could place them sturdily in the market.