At 18% CAGR, Connected Aircraft Market Size Worth USD 5 Billion by 2027: IndustryARC

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Major applications in the global connected aircraft market are commercial segment is expected to witness a highest CAGR of 5% the forecast period.

HYDERABAD, TELANGANA, INDIA, December 14, 2022 /EINPresswire.com/ — The global Connected Aircraft Market size is anticipated to surpass $5 billion by 2027, growing at a CAGR of 18% from 2022 to 2027, according to the latest research study by IndustryARC. In the aviation sector for the purpose of changing the way people communicate satellite components, airplane hardware, airtime connectivity and apps and services are combined which is generally referred as connected aircraft. Proliferatigron of artificial intelligence, big data, cloud, mobility and social media components has enabled digital transformation which is seamless and secure across the aviation ecosystem. For the requirement of air traffic control and airline operation center communications connected aircrafts are used along with creating impacts on real –time data in avionics system. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=19524

Key Takeaways:

This IndustryARC report on the Connected Aircraft Market highlights the following areas –

• Surge in the adoption of Internet of Things, Big data analytics and connected technologies in the modern aircrafts have driven the growth of the market. Moreover, the rising military up gradations programs are providing ample opportunities in the market growth.

• Major applications in the global connected aircraft market are commercial segment is expected to witness a highest CAGR of 5% the forecast period, owing to rise in commercial airplane deliveries driving the need for aviation.

• North America is witnessing a major growth in the market as it is considered one of the largest manufacturing base of aircrafts due to the presence of aviation companies such as Boeing Company, Lockheed Martin Corporation, Honeywell International and others.

Segmental Analysis:

• By Type – The In-Flight connectivity segment is growing at a significant market value of 7% in the forecast period as this technology uses onboad antenna packup signals with large space in the aircrafts for communication purposes. Recently, in September 2020, Jio launched inflight connectivity packs to offer high-speed data access as well as voice calling and SMS message benefits for inflight communications which are very cost effective giving a boost to the market growth.

• By Application – Commercial sector is expected to witness a highest CAGR of 5% the forecast period, owing to remarkable growth of the commercial aviation industry in the APAC region in particular has resulted in increasing aircraft production in recent years. According to the Boeing Services Market Outlook report, in 2019 the commercial aviation industry is expected to have a remarkable growth in APAC.

• By Geography – Connected Aircraft Market in North America region held significant market share of 35% in 2020. The U.S. Aerospace and Defense (A&D) industry is one of the world’s leading innovators and producers of technologically advanced aircraft, space and defense systems. With the growing developments, the government of this region has announced several fundings, initiatives for the development of these sectors.

Click on the following link to buy the Connected Aircraft Market Report:
https://www.industryarc.com/reports/request-quote?id=19524

Competitive Landscape:

The top 5 players in the Connected Aircraft Industry are –

1. Honeywell International
2. Gogo LLC
3. Thales Group
4. Inmarsat Global Ltd.
5. Collins Aerospace

Click here to browse the complete report summary:
https://www.industryarc.com/Report/19524/connected-aircraft-market.html

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