San Francisco, 26 March 2024: The Report Aviation IoT Market Size, Share & Trends Analysis Report By End-use (Airline Operators, Airport), By Component (Hardware, Service), By Application (Aircraft Operations, Asset Management), By Region, And Segment Forecasts, 2023 - 2030

The global aviation IoT market size is expected to reach USD 36.20 billion by 2030, growing at a CAGR of 23.3% from 2023 to 2030, according to a new study by Grand View Research, Inc. The market growth is attributed to the adoption of automated and intelligent technologies & systems in the aviation industry for applications, such as baggage management, smart maps, aircraft safety, and more. Furthermore, the penetration of Internet-of-Things (IoT) devices into these applications of the aviation industry assist in decision-making and improving overall operations. The aviation industry is continuously adopting a digital ecosystem and is subsequently set to generate large volumes of data.

The large volumes of data collected by IoT sensors on aircraft and airports assist aircraft Maintenance, Repair, And Overhaul (MRO) providers with major aircraft health information for maintenance & repair purposes. In addition, the trend of low-power terrestrial networks in the L-band to support 5G connectivity is expected to further enhance the data transfer capacity, thereby encouraging the deployment of IoT-compatible devices in the aviation industry. The internet-of-things is expected to have a vital role in climate and weather prediction as well as in observing various systems of aircraft in real-time.

The demand for IoT in aviation is expected to increase further due to its growing uses in the aviation industry such as maintaining climate control in the cabin, aircraft maintenance, managing air traffic, and more. IoT in aviation is anticipated to have a growing role in assisting air traffic control personnel, pilots, and airport staff with flying operations, and passenger management, among other applications. In addition, deploying IoT sensors and devices inside the aircraft can help in monitoring engine performance and subsequently reducing fuel consumption and improving the profit margins.

The growing trend of air travel with an emphasis on passenger experience is anticipated to drive market growth. Moreover, the significant strain on airlines and airport resources caused by the high volume of travelers is expected to increase the demand for IoT solutions in aviation to efficiently streamline and help automate avionic processes. For instance, IoT helps air traffic controllers regulate air traffic on the runway with real-time data and analytics for smooth and timely takeoffs and landings. Furthermore, the trend of digitization in the aviation industry is expected to drive the demand for IoT in aviation.

Access Research Report of Aviation IoT Market @ https://www.grandviewresearch.com/industry-analysis/aviation-internet-of-things-market

Aviation IoT Market Report Highlights

• The asset management application segment accounted for the largest market share in 2022 as a result of the growing aircraft fleets and other assets, such as engine parts, unit load devices, and more, that require regular management for operational purposes
• The airport end-use segment recorded the largest market share in 2022 due to the growing development of smart airports around the world
• The hardware component segment accounted for the largest share in 2022 as a result of a large number of IoT devices and sensors installed on aircraft and airports to assist pilots and air traffic control staff
• North America accounted for the largest market share of around 35% in 2022 as a result of high technological penetration in airports and a large number of domestic flights and aircraft manufacturers in the region

Smart airports are utilizing IoT technology to create a digital ecosystem for automated check-in, baggage handling, and flight bookings. Moreover, IoT technology allows significant cost savings for airline operators in routine maintenance cycles by providing real-time aircraft health monitoring and threat analysis. This, in turn, is expected to increase the demand for IoT technology in the aviation industry. During the COVID-19 outbreak, various industries were shut down briefly and lockdowns were imposed to reduce the spread of the virus, which, in turn, impacted business operations across regions. There was also a shutdown of commercial flights and airports around the world.

Aviation IoT Market Report Scope

List of Key Players of Aviation IoT Market

• Honeywell International, Inc.
• Tata Communications Ltd.
• Cisco Systems, Inc.
• Huawei Technologies Co. Ltd.
• IBM Corp.
• Aeris Communication
• Microsoft Corp.
• Tech Mahindra Ltd.
• Wind River Systems, Inc.
• SAP SE