Cloud as a Data Accelerator in Aviation Market Size is predicted to develop at a 14.2% CAGR during the forecast period for 2024-2031.
Cloud as a data accelerator in aviation describes the implementation of AI-based technologies and technology in the aviation sector. Aviation AI comprises a wide range of AI approaches used to improve operations, safety, efficiency, and customer experience in the aviation industry. With the help of integrated cloud-based data-sharing technologies, enormous amounts of aviation-related data may be centrally handled and stored. Airline companies, airports, and aircraft manufacturers can all benefit from this because it streamlines their data management processes.
On top of that, cloud-based solutions make it possible to retrieve important data instantaneously from any internet-connected location. Aviation companies may improve operational effectiveness and safety by making smarter decisions faster using current information. The broad adoption of cloud-based data-sharing platforms and the dramatic increase in demand for predictive maintenance solutions are driving the market's increase. Furthermore, an increasing focus on security and regulatory compliance, coupled with the widespread use of artificial intelligence (AI) technology, is anticipated to fuel market expansion.
However, the market growth is hampered by the high-cost criteria for the safety and health of the Cloud as a data accelerator in the aviation market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or Cloud as a data accelerator in aviation, because the budget is a key consideration when making plans to buy and implement any digital aviation software or solution. Given the ever-evolving nature of software and hardware innovations, it is essential to regularly update software to ensure compatibility with certain platforms and applications.
Additional challenges that could limit growth in this market are the high maintenance cost, the difficulty of upgrading and integrating systems across platforms, and the complexity of these systems overall. Because of the COVID-19 epidemic, airports, airlines, and their partners were greatly impacted. Throughout the aviation value chain, the pandemic has wreaked havoc on finances, particularly for airlines. Aside from freight forwarders and cargo airlines, every subsector in the industry experienced significant losses.
Competitive Landscape
Some of the major key players in the cloud, as a data accelerator in the aviation market are
- Kittyhawk
- Lockheed Martin
- Iris Automation
- Intel
- IBM
- GE Aerospace
- Garmin
- Boeing
- Amazon
- Airbus
- Other Prominent Players
Market Segmentation:
The cloud, as a data accelerator in the aviation market, is segmented based on type and application. Based on type, the market is segmented into hardware, software, and service. By application, the market is segmented into virtual assistants and smart maintenance.
Based on the Type, the Software Segment Dominate the Market
The software cloud as a data accelerator in the aviation market is expected to hold a major global market share in 2023. Aviation organizations are increasingly using data analytics software to help them make sense of the vast quantities of aviation data, including flight records, maintenance logs, passenger information, and operational indications. With the help of cloud-based data acceleration solutions, aviation stakeholders are empowered to make data-driven choices, optimize operations, and boost performance.
Smart Maintenance Segment to Witness Growth at a Rapid Rate
The smart maintenance industry makes up the bulk of acrylic acid ester usage because, with the help of smart maintenance solutions hosted in the Cloud, technicians can remotely diagnose and troubleshoot aircraft systems, keeping an eye on systems from anywhere in the world. Teams performing maintenance on airplanes can access diagnostic data in real-time, maintenance records, and technical documentation using visualization and analytics tools hosted in the Cloud, especially in countries like the US, Germany, the UK, China, and India.
In the Region, the North America Holds a Significant Revenue Share
The North American cloud, as a data accelerator in the aviation market, is expected to register the highest market share in revenue in the near future. This can be attributed to the fact that there has been a surge in passenger air traffic and well-known original equipment manufacturers. In addition, Asia Pacific is projected to grow rapidly in the global Cloud as a data accelerator in the aviation market because more people are living in cities, have more disposable income, and travel more for both work and pleasure.
Recent Developments:
- In March 2024, IBM Consulting and Microsoft launched their first joint venture, the IBM-Microsoft Experience Zone, in Bangalore, India. In the Experience Zone, clients can learn more about how Microsoft's products and technologies, such as hybrid cloud and generative AI, can aid in their business transformation efforts and provide them with a competitive edge.
- In February 2024, GE Hitachi Nuclear Energy (GEH) was thrilled to learn that it had been granted an FNEF grant of £33.6 million by the United Kingdom's Energy Security Agency and Zero Net Energy (DESNZ). The government of the United Kingdom is targeting 24 GW of nuclear power as a means to achieve net zero energy consumption and security.
Global Cloud as a Data Accelerator in Aviation Market Report Scope
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 14.2% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, By Application and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
Airbus, Amazon, Boeing, Garmin, GE, IBM, Intel, Iris Automation, Kittyhawk, and Lockheed Marti. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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