AI in Aviation Market – Introduction
- Artificial intelligence technology is used in aviation ground operations such as air traffic control and real-time support systems in aviation operations. AI in aviation helps to improve predictive maintenance and air traffic control operations.
- Solution providers offer services and embedded systems with artificial intelligence such as passenger identification, baggage screening, facial recognition, customer support systems, and other process optimization solutions.
- The aviation industry is increasingly adopting AI technologies for revenue management, air safety & airplane maintenance, feedback analysis, messaging automation, crew management, and fuel efficiency optimization operations.
- Aviation companies are more focused on enhancing the customer experience at airports and optimizing employee workflow, which is expected to increase the demand for AI technology in the aviation industry during the forecast period.
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Key Drivers of the AI in Aviation Market
- Increasing consumer spending on advanced automation technologies in the aviation sector to increase the efficiency of ground operations is expected to drive the growth of the AI in aviation market. The aviation industry is increasingly using cloud-based solutions and data management solutions to manage huge databases, which is also driving the demand for AI in the aviation sector.
- Increasing adoption of data analytics and automated customer service systems is expected to offer significant revenue opportunities to solution providers of AI in the aviation sector.
Lack of skilled professionals for AI-based operations expected to hinder the AI in aviation market
- The lack of skilled professionals in aviation companies to manage AI-based operations and deliver better results with advanced technologies is restraining the growth of the AI in aviation market. The employees require technical training to use AI technologies on the existing system and explore all features of the solution to increase productivity and efficiency of the system.
- High capital investment to integrate AI technologies in existing infrastructure is expected to hamper the growth of the AI in aviation market.
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Impact of COVID-19 on the Global AI in Aviation Market
- In the global aviation market, demand for advanced solutions and technologies is decreasing during the COVID-19 period due to the low return on investment. Most countries have altered aviation and traveling policies during the COVID-19 period that negatively impacts the aviation industry across all regions. The ever-increasing threat of COVID-19 is projected to decrease the investment of companies in AI in aviation solutions and services during the pandemic period.
North America to Hold Major Share of the Global AI in Aviation Market
- North America holds a prominent share of the global AI in aviation market due to early adoption of AI-based solutions and services in the aviation industry and presence of major players in AI solutions and services.
- The AI in aviation market in Middle East & Africa and Asia Pacific is expected to expand at a rapid pace during the forecast period due to the increasing adoption of AI technologies among major players and also solution providers are increases their investment in Asia Pacific region to increase commercial customer base.
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- Microsoft Corporation
Microsoft Corporation engages in the development, manufacture, licensing, marketing, and sale of software, personal computers & services, and consumer electronics. The company operates globally and has offices in more than 190 countries. It offers solutions in AI and machine learning technologies for the aviation industry.
Other key players operating in the global AI in aviation market include Intel Corporation, NVIDIA Corporation, Micron Technology, Inc., Samsung Electronics Co., Ltd., Xilinx, Inc., Airbus Group, The Boeing Company, The General Electric Company, Thales Group, Lockheed Martin Corporation, and Garmin Ltd.
Global AI in Aviation Market Segmentation, by Region
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
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