The global market is worth US$ 554.2 Mn in 2018 and expected
to grow at a CAGR of 19.3% during the forecast period from 2019 to 2027.
Market Insights
"Growing need for smart airport accelerating IoT
in airports"
The rapid increment in the air travel passengers and growing
number of air traffic has demanded the technology such as the internet of
things (IoT) which will have a significant impact on streamlining the
operations in airports. With millions of connected devices communicating with
each other with the launch of 5G technologies in near future, the aviation
industry expecting to leverage growing IoT trends and achieve endless benefits
such as optimized fleet operations, fuel savings, enhanced safety and security
standards, and better MRO shifts.
The IoT technology revolutionizes modern-day flying,
radically improvising fleet maintenance, engine performance, and safety. With
enhanced MRO scheduling, airlines are experiencing cost-saving in their annual
budget. Moreover, there is high demand for transforming some of the busy
airports of the world into smart airports to reduce the burden of
over-trafficking and make the passenger experience more comfortable. This has
largely influenced the airliners and airport authorities to upgrade their
current technology with IoT.
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report at https://www.credenceresearch.com/report/iot-in-aviation-market
However, IoT is still in a nascent phase and the market
players are currently innovating complex systems used in airlines and airports.
Furthermore, there is a lack of comparable technological capability across the
world which will determine the extent to which IoT will grow in the near
future. This will also reduce the growth rate in those technologically less
advanced regions of the world.
The overall IoT in aviation market is competitive in nature
and it is growing at moderate rate. The market players are adopting strategies
such as launching new solutions, partnership, agreements, to stay competitive
in the market.
Industrial Developments
• In February 2020, Lufthansa Group, a German airliner
renewed its partnership with Amadeus IT Group SA, expanding its collaboration
to enhance passenger experience. Through this agreement, the airline will use
Amadeus’s Altéa Passenger Service System (PSS) for reservation, ticketing,
inventory and disruption management. Along with Lufthansa, other airlines such
as Austrian Airlines, Brussels Airlines, Swiss International Air Lines and Air
Dolomiti, are also included in the agreement.
• In July 2019, ReFirm Labs, IoT and firmware security solutions provider, announced the strategic technology partnership with Wind River Systems, Inc. Together, both companies will develop the ReFirm Labs’ Centrifuge Platform® for IoT security along with Wind River’s VxWorks® real-time operating system, utilized in commercial air-planes, space exploration and military operations.
• In July 2019, ReFirm Labs, IoT and firmware security solutions provider, announced the strategic technology partnership with Wind River Systems, Inc. Together, both companies will develop the ReFirm Labs’ Centrifuge Platform® for IoT security along with Wind River’s VxWorks® real-time operating system, utilized in commercial air-planes, space exploration and military operations.
Key Market Movements:
• Base on component, IoT software segment expected to grow
at the fastest rate during the forecast period.
• Base on application, ground operation segment expected to grow at the fastest rate during the forecast period.
• Based on end-use, airport segment expected to drive the major growth of the market during the forecast period.
• Based on region, North America was the largest region of global IoT in aviation market in 2018. Subsequently, it is estimated that the same region to grow at the fastest rate during the forecast period.
• Base on application, ground operation segment expected to grow at the fastest rate during the forecast period.
• Based on end-use, airport segment expected to drive the major growth of the market during the forecast period.
• Based on region, North America was the largest region of global IoT in aviation market in 2018. Subsequently, it is estimated that the same region to grow at the fastest rate during the forecast period.
List of Companies Covered:
• IBM
• Microsoft Corporation
• Wind River Systems, Inc.
• Amadeus IT Group SA
• Cisco
• SAP SE
• Huawei Technologies Co., Ltd.
• Honeywell International Inc.
• Aeris
• Sendum Wireless Corporation
• GlobeRanger (Fujitsu)
• and Others
• Microsoft Corporation
• Wind River Systems, Inc.
• Amadeus IT Group SA
• Cisco
• SAP SE
• Huawei Technologies Co., Ltd.
• Honeywell International Inc.
• Aeris
• Sendum Wireless Corporation
• GlobeRanger (Fujitsu)
• and Others
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