30 October 2020
Visiongain has published a new report on Aviation Analytics Market Report : Forecasts by Application (Flight Risk Management, Fuel Management, Customer Analytics, Revenue Management, Inventory Management, Navigation Services), by End User (Airports, Airline Operators), by Business Function (Operations, Supply Chain, Finance, Maintenance & Repair, Sales & Marketing) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
Global aviation analytics market is estimated to be valued at US$ xx billion in 2021 and is projected to grow at a CAGR of xx% to reach a market value of US$ xx billion by 2031. Aviation analytics market has been witnessing strong growth over the past few years on account of increasing air passenger traffic across the globe. Global air passenger traffic is increasing on account of several factors which includes emergence of low cost carriers (LCCs), rise in international tourism and increasing immigrants in foreign countries. Increasing air passenger traffic has resulted in congestion at airports, competitiveness among airline operators and importance of passenger experience during the air travel. Airline operators have been investing significantly on several technologies to improve their business performance, inventory management, revenue management and customer analytics over the past few years. It is anticipated that airports are expected to invest continuously on aviation analytics driving the market growth over the next ten years. Moreover, increasing need for automation in business decision coupled with technological advancement such as BigData Analytics, and Artificial Intelligence have supported the growth of this market.
COVID-19 Impact on Aviation Analytics Market
Imposition of lockdown in majority of the countries due to ongoing pandemic of Covid-19, the demand for air travel, both domestic and international has dropped significantly in the recent months and impacted the business models of airline operators across the globe. It is anticipated that airline business will take 2 to 3 years to recover its stability and profitability. As a result, capital expenditures of major airline are expected to decline significantly resulting in lower investments on aviation analytics. Domestic air travel has already started to recover and regaining its stability.
Aviation analytics is very fragmented market with large number of players operating in the market. Some of the company’s profiled in this report include SAP SE, General Electric, Oracle Corporation, IBM Corporation, SAS Institute, Booz Allen Hamilton, MU–Sigma, Ramco International, Airport Analytics (AA+) and Aviation Analytics Ltd.
• In January 2020, Google Cloud has announced that the company has signed a contract with an Europe-based aviation firm Lufthansa Group for the supply of infrastructure and machine learning capabilities to optimize operations performance of the company. Under this contract, Google Cloud will tract several factors such as aircraft landings and take-offs, aircraft maintenance, and crew allocation, which help in improving passenger experience during the air travel.
• In September 2018, Bangalore International Airport has signed a contract with Unisys for providing a platform which helps in understanding various factors to understand passenger experience during the air travel. Under this contract, Unisys will provide business intelligence and advanced data analytics platform, which helps in taking faster, better and informed decision to make airport experience easy and happy to customers.
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