The Connected Aircraft Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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In the domain of Connected Aircraft, scrutinized by The Business Research Company, the market has undergone rapid and significant growth. Elevating from $6.82 billion in 2023 to an anticipated $7.99 billion in 2024, the market showcases a noteworthy compound annual growth rate (CAGR) of 17.1%. This robust expansion during the historic period is underpinned by diverse factors, including the burgeoning demand for operational efficiency, an intensified focus on enhanced safety and situational awareness, the simultaneous rise in air passenger traffic, imperatives for fuel efficiency and emissions reduction, stringent government regulations and standards, and the escalating complexity of modern aircraft.

Looking forward, the Connected Aircraft market is poised for rapid growth, reaching an estimated valuation of $14.45 billion in 2028, reflecting a notable CAGR of 16.0%. This anticipated surge in the forecast period is attributed to pivotal factors such as the implementation of next-gen air traffic management systems, a heightened demand for in-flight connectivity, the prevalence of predictive maintenance and health monitoring solutions, the integration of smart cabin solutions, seamless connectivity with ground operations, the burgeoning expansion of Urban Air Mobility (UAM) initiatives, and a pronounced emphasis on green aviation initiatives. Salient trends in this envisaged period encompass the accelerated adoption of in-flight connectivity, the integration of Internet of Things (IoT) technologies, the evolution of enhanced aircraft health monitoring capabilities, the pervasive digitalization of cockpit and cabin systems, the integration of data analytics and Artificial Intelligence (AI), and an escalated focus on addressing cybersecurity concerns. This confluence of factors not only underscores the pivotal role of Connected Aircraft in the aviation landscape but also positions it as a catalyst for technological innovation, efficiency, and sustainability in the realm of air transportation.

An increase in air passenger travel is expected to propel the growth of the connected aircraft market going forward. Air travel refers to the process of boarding an aircraft for the purpose of travelling from one location to another by any flying object. The increase in air passenger travel is resulting in airline companies making the addition of aircraft to their fleets to cater to the needs of the air passengers. For instance, in February 2023, according to the International Air Transport Association, a Canada-based trade association data, the revenue passenger kilometers, or RPKs, representing total traffic in 2022 increased by 64.4% over 2021. Compared to 2021, international traffic increased by 152.7% in 2022. In 2022, domestic traffic increased by 10.9% over the previous year. Therefore, the increase in air passenger travel is driving the growth of the connected aircraft market.

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The connected aircraft market covered in this report is segmented –
1) Connected Aircraft Market By Type: Systems, Solutions
2) Connected Aircraft Market By Connectivity: Inflight Connectivity, Air-to-Air Connectivity, Air-to-Ground Connectivity
3) Connected Aircraft Market By Frequency Band: Ka-band, Ku-band, L-band
4) Connected Aircraft Market By Application: Commercial, Military

Technological advancement is a key trend gaining popularity in the connected aircraft market. Major companies operating in the connected aircraft market are focused on developing new technological solutions to strengthen their position. For instance, in April 2022, Universal Avionics, a US-based company operating in connected aircraft, launched its connectivity ecosystem technology that allows aircraft pilots to connect Apple iPads to the flight management system. This technology enables two-way communication, data collecting, FMS (flight management system) and other avionics system uploading and downloading. It enhances the relevant analytics of each flight and allow operators to optimize flight operations and aircraft availability for each aircraft or a fleet when connected to ground infrastructure.

The connected aircraft market report table of contents includes:

1. Executive Summary

2. Connected Aircraft Market Characteristics

3. Connected Aircraft Market Trends And Strategies

4. Connected Aircraft Market - Macro Economic Scenario

5. Global Connected Aircraft Market Size and Growth

.......

31. Global Connected Aircraft Market Competitive Benchmarking

32. Global Connected Aircraft Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Connected Aircraft Market

34. Connected Aircraft Market Future Outlook and Potential Analysis

35. Appendix

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