Airline Technology Integration Market Size Projected to Grow at a CAGR of 15.90% and Generate a Revenue of $54,630.4 Million by 2031Download Sample Reports Overview
The Global Airline Technology Integration Market Size is predicted to be valued at $89,130.4 million by 2031, surging from $20,956.4 million in 2021, at a CAGR of 15.90%.
Impact Analysis of COVID-19 on the Airline Technology Integration Market
The travel sector has undoubtedly been impacted by the coronavirus outbreak, which was spread across the world. The airline sector suffered major setbacks in its entire existence owing to the border closures and a termination of non-essential flying. Millions of travelers had to cancel their booked domestic and international flights due to the coronavirus crisis, as lockdown was imposed which resulted in border closures and travel restrictions. After the extensive rescheduling of passenger flights, which affected half of the world's air cargo, both air freight capacity and demand continued to drop. Airlines across the world had been compelled to reduce staff as a result of cancelled flights and less or no airline operations. All these factors have decreased the global airline technology integration market share growth in the forecast time period.
Global Airline Technology Integration Market Analysis
The number of passengers is anticipated to rise in the coming years. Cargo demand, which has recently declined due to a slowdown in globalization and trade, should rise as the economic cycle flips, as will business and consumer activity. New technology such as robotics, artificial intelligence, the Internet of Things, unmanned aircraft systems, and the push for hybrid and electric airplanes, are some of the emerging technologies that are transforming the industry today.
Digital technology adoption will be beneficial for airports and their customers. Digital technology enhances the passenger experience. Less delays and higher rates of luggage restitution are both expected outcomes of improved flight management processing. End-to-end biometrics are likely to improve the passenger experience during the airport transit so that they may essentially stroll into the airport and have a seamless and touch-free experience. These factors are estimated to create numerous opportunities for the key players operating in the market during the forecast period.
Global Airline Technology Integration Market, Segmentation
The airline technology integration market analysis is segmented on the basis of technology, offering, deployment, and region.
The technology segment is further classified into Internet of things (IOT), cybersecurity, artificial intelligence, advanced analytics, biometrics, blockchain, wearable technology, and others. Among these, the cybersecurity sub-segment was the most dominant in 2021.
The aviation sector has benefited from digitization, but it has also led to new concerns, such as social and technical vulnerabilities that have rarely been addressed. Securing data flows between the aircraft and the ground, in the cockpit and cabin, as well as between onboard sensors and systems, is a difficulty. Cybersecurity encompasses not only the protection of information in the form of digital data but also the associated networks, websites, services, computers, and portals that are transporting and enabling access to data in the aviation ecosystem, where various key players are all highly interdependent and increasingly interconnected.
The offering segment is further divided into software and hardware. Among these, the software sub-segment was the most dominant in 2021. The software package enables the airlines to centrally manage its workforce, costs, and operations. In order to prevent potential losses brought on by delayed information, the integrated system aids airlines in sending and receiving information. Furthermore, in software guarantees accurate and timely reporting. All tasks, including material management, warranty tracking, and maintenance, are carried out via a single integrated system.
The deployment segment is further classified into on-premises and cloud. Among these, the on-premises sub-segment was the most dominant in 2021. On-premise servers manage infrastructure on-site or at corporate premises, as the name implies. However, by implementing an agile IT infrastructure, both methods seek to lower maintenance expenses and organizational costs. The need in Airline technology for on-premise servers and hardware is reduced because all facilities are handled in airline which are typical of the ephemeral nature of the airline technology integration market. Due in large part to its rapid and flexible connections at reasonable prices, cloud infrastructure has already shown to be cheaper and more convenient for small enterprises.
North America is anticipated to dominate the airline technology integration market during the forecast period. The U.S. has the largest aircraft fleet, the most aircraft operators, and a high demand for aviation sector innovation, all of which contribute to the expansion of the regional market. Additionally, it is projected that the presence of significant companies in the airline technology integration market, including Honeywell International, Inc., Collins Aerospace, Boeing, General Electric, IBM, Oracle, and L3Harris Technologies, Inc., will drive the market growth in the region.
Key Players in the Global Airline Technology Integration Market
Some of the leading airline technology integration market players include
- Collins Aerospace
- General Electric
- Honeywell International Inc.
- L3Harris Technologies Inc.
- Lufthansa Technik
- SAP SE