April 18, 2023, New York, USA (GLOBE NEWSWIRE) — According to a newly published report by Research Dive, global Aviation technology integration market beforedirected to grow at a steady CAGR of 15.90%, thereby earning revenue $89.1304 billion in the 2022-2031 time frame. This comprehensive report provides a comprehensive overview of the nature of the aviation technology integration market including key features such as growth drivers, growth opportunities, constraints and obstacles over the 2022-2031 time frame. The report also includes all the necessary and essential market figures to help new entrants gain insight into how the market works.
driver: Increasing application of airline technology integration in the aviation sector is projected to boost the airline technology integration market. In addition to this, rising demand for air travel worldwide is expected to help the market grow significantly during the forecast period.
chance: The introduction of technological advancements like Internet of Things in the aircraft sector is estimated to offer numerous growth opportunities to the market in the time frame of analysis. Moreover, increasing need to improve the security and efficiency of aircraft operations is expected to fuel the market growth rate.
Restraint: However, the increasing number of autopilot failures may impede the growth trajectory of the aerotechnology integration market.
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Market impact of Covid-19
The Covid-19 pandemic has directly or indirectly affected millions of lives. Lockdowns ordered by various countries to curb the spread of the disease have disrupted global supply chains and affected many industries. The airline technology integration market has also experienced a decline during the pandemic. Lockdowns and travel restrictions have severely impacted the aviation sector, slowing the integration of advanced technology.
This report divides the airline technology integration market into specific segments based on technology, product, deployment, and region.
technology: cyber security Most profitable sub-segment
The cyber security sub-segment is projected to have the most dominant market share by 2031 due to the growing threat of cyber-attacks on the various technologies used by airports and airlines.
Recruitment: software Most Dominant Subsegment
The software sub-segment is projected to generate significant revenue by 2031, thereby capturing the most dominant market share. The availability of a wide range of airline software for engine maintenance, technical records, human resource management, etc. is estimated to drive the growth of this sub-segment.
Deployment: on-premises sub-segment grow infinitely
The on-premises sub-segment is projected to show a staggering growth rate by 2031. As end-users opt for in-house software infrastructure and services to ensure a high degree of data protection, airline technology solutions are predominantly deployed on-premises and the market will grow during the forecast period.
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market in North America most profitable area
The North American region’s aviation technology integration market is expected to be the most dominant market from 2022 to 2031. The presence of large companies such as Ametek, Amphenol Corporation, Astronicas Corporation, GE Aviation, Honeyllywell International Inc. is projected to be the major growth driver for the market in the region.
Prominent market player
Some prominent market players in the Aviation Technology Integration market are:
- Honeywell International Inc.
- Collins Aerospace
- L3 Harris Technologies Inc.
- SAP SE
- Lufthansa Technik
- general electric
These companies use different scientific approaches to come up with different innovations and gain a prominent position in the market.
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For example, in May 2022, Microsoft and American Airlines announced a collaboration of sorts. Under this collaboration, information technology giant Microsoft and US aircraft carrier American Airlines will jointly develop technology tools to improve the safety and comfort of American Airlines-owned aircraft. This collaboration is therefore expected to help both partners expand their business in the years to come.
Finally, published by Research Dive, the report also summarizes many key aspects of the Aviation Technology Integration market, including the latest strategic developments, SWOT analysis, financial performance of key players, and product portfolio.
Details of the Aviation Technology Integration Market: