Connected Aircraft Market - Forecast(2021 - 2026)

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Connected Aircraft Market Overview

The market for aircraft is forecast to reach $8.8 billion by 2026, growing at a CAGR of 12.9% from 2021 to 2026. The Aircraft Market is estimated to witness sustainable growth over the forecast period rapidly due to growing demand of transportation, military utilities and to avail paramedic facilities and other private usages. Replacement of aging commercial aircrafts and procurement of new generation commercial aircrafts with new technologies to acquire leading position in the market are some of the main factors which are driving the growth of aircraft market. The key trends are likely to impact the aircraft market is the Corona virus pandemic which has caused unprecedented levels of devastation to the workers as well as business around the world. The decrease in the number of passengers on-board has significantly decreased the market revenue especially in commercial basis. Fuel price remains to be the biggest concern faced by the aircraft market in the modern world. The high costs have led to many aircrafts imposing fuel surcharges on customers. This is leading to the adoption of various technologies including flight management, fuel monitoring, data management systems and aircraft condition monitoring systems to enable better fuel consumption. Apart from this, the improved aircraft communication offers especially with air traffic management which is another benefit driving the market growth.

Connected Aircraft Market Report Coverage

The report: “Connected Aircraft Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Connected Aircraft Market.

By Aircraft Type – Light Aircrafts, Heavy Aircrafts
By Application – Commercial Aircrafts(Jumbo Passenger Jets, Mid Size Passenger Jets,Light Passenger Jets,Passenger Turboprops,Cargo Airplanes); Private Jets(Light Business Jets,Mid Size Business Jets,Heavy Business Jets); Helicopters; Defense Aircrafts.
By  Flight Method – Manned Aircrafts, Unmanned Aircrafts.
By Flight Operation – HTOL(Horizontal take-off Landing), VTOL(Vertical take-off Landing), HTVL(Horizontal take-off Vertical Landing), VTHL(Vertical take-off Horizontal Landing), STOL(Short take-off Landing).
By Engine TypeTurbofan, Turboprop, Turboshaft, Turbojet, Remjet Engine.
By Structure Wide body, Narrow body/ Single Aisle, Regional.
By Connectivity Air to Ground, Air to Air, Inflight
By Type –Data Management, Satellite Communication, Fuel Monitoring, Flight Management, Aircraft Monitoring, Passenger and Crew Connectivity, Electronic Air Bags and Others
By Geography - North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), South America(Brazil, Argentina and others), and RoW (Middle east and Africa).

Key Takeaways

  • The connected Aircraft Market is estimated to witness a sustainable growth over the forecast period rapidly due to growing demand of transportation, military utilities and to avail paramedic facilities and other private usages.
  • The significant increase in the defence expenditure from the major developing countries such as China and India, has driven the procurement of military aircrafts thereby propelling the growth of Connected aircraft market.
  • Lower air fares, growing living standards are the major contributors to increased air travel. This has made the airlines operating in these regions to establish new routes and serve more passengers, by procuring new aircraft, thereby adding more seats and increasing the demands in market.
  • Replacement of aging commercial aircrafts and procurement of new generation commercial connected aircrafts with new technologies to acquire leading position in the market are some of the main factors driving the growth of connected aircraft market.

Connected Aircraft Market, By Geography, 2020

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Connected Aircraft Market Segment Analysis-By Aircraft Type

Heavy aircrafts dominated the connected Aircraft Market with a share of 73% in 2020, as it mainly comprises the majority of commercial aircrafts and military aircrafts for transporting goods as well as passengers in huge amount. Sensors, of many different types, which gather data of relevance to military operations is one of the recent upgrades in Military Aircrafts. Heavy aircrafts are in huge demand for commercial transportation because of their high MTOW (Maximum take-off weight) which boosts the market worldwide. The fast-growing countries such as India, China is generating more demand for heavy aircraft which in over time will shift the distribution of the global fleet in Asia- Pacific.

Connected Aircraft Market Segment Analysis-By Application

Commercial aircrafts hold the largest market in connected aircraft applications at 45.2% in 2020. The transportation facilities for all goods, services, passengers, governmental utilities are carried out mostly by aircraft globally. Global expenditure on commercial aircraft is expected to show steady growth over the forecast period due to growing investments in infrastructure, initiatives to connect secondary cities with prime aviation hubs across a number of countries. The increasing affluence of air travel, especially by rising middle-class populations of emerging countries such as China and India is a key trend of the market globally.

Connected Aircraft Market Segment Analysis- By Geography

North America accounted for being the highest market among all the regions by geography in the world at 37.5% in 2020. The market growth in this region is predominantly rising due to United States, which has the highest aircraft fleet in the world comprising majorly on commercial and military aircrafts. North America followed closely by Asia-Pacific, in terms of revenue share, in 2020. Revenues from Asia-Pacific are expected to grow with a high growth rate, during the forecast period by 2026 as the emerging economies in the region, like India and China, are experiencing a huge surge in their respective aircraft markets, due to an increased demand for air travel among the countries for commercial purposes as well as military purposes.

Connected Aircraft Market Drivers

Rise in number of air traffic and economic standards drives market growth

Emerging economies in Asia-Pacific countries in particular are contributing considerably in aircraft market especially in commercial aircraft market, thus boosts the development of the global aircraft market. The launch of new air routes for improving the global connectivity which further helps in expansion of aircraft fleet size of aircraft companies increased the demand of aircraft market globally for commercial and military purposes. In recent years, there has been a considerable economic growth of the middle-class population that avail these facilities. The key players in the market have anticipated significant growth in the number of air passengers by the end of 2026; by then, they aim to enhance their overall air transport services.

Initiatives taken by Government

The significant increase in the defense expenditure from the major developing countries mainly in Asia-Pacific region has driven the procurement of military aircrafts, thereby propelling the growth of aircraft market. India’s aircarft industry is expected to witness Rs 35,000 crore (US$ 4.99 billion) investment in the next four years. The Indian Government is planning to invest US$ 1.83 billion for development of airport infrastructure along with aircraft navigation services by 2026. In January 2020, IndiGo became first Indian carrier to have an aircraft fleet size of 250 planes and became the first airline to operate 1,500 flights per day. The development of more advanced and stealthier fixed-wing aircraft may attract a lot of countries to procure the aircraft to increase their aerial capabilities. Thus, to have a high performance aerial squad the Government took many initiatives in Defense aircraft market.

Connected Aircraft Market Challenges

Impact of Covid-19

One of the major challenges faced by global Aircraft Market is the recent outbreak of  pandemic Covid-19. Due to this pandemic, there is a vast decrease in the number of on-board passengers which has affected adversely the commercial aircraft market. The global trade which mainly relied on aircraft transportation is at its lowest stakes which has further affected the Economic GDP of some of the developing countries such as India and China in Asia-Pacific. The United States being the leading power of aircraft market in North America and China being leading developing countries of Asia-Pacific, their disputes has led to major loss in revenues as compared to previous years.

Connected Aircraft Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Aircraft Market. The Aircraft Market is dominated by major companies such The Boeing Company, Airbus Group SE, Lockhead Martin Corporation, United Technologies Corporation, GE Aviation, Safran SA, Raytheon Company, Bombardier Inc., Embraer, Saab AB, Textron, Comac, Alekseyev Central Hydrofoil Design Bureau.

Acquisitions/Technology Launches/Partnerships

In October 2019, Avidyne Corporation, leading provider of integrated avionics systems, displays, ADS –B and safety systems for general aviation aircraft announced new dzus – mounted avidyne atlas multifunction flight management system for turbine – class aircraft and helicopters.

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1. Connected Aircraft Market - Market Overview
    1.1 Definitions and Scope
2. Connected Aircraft Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends by type
    2.3 Key trends segmented by geography
3. Connected Aircraft Market - Market Landscape
    3.1 Market Share Analysis
    3.2 Company Benchmarking
    3.3 Top 5 Financial Analysis
    3.4 Patent Analysis
4. Connected Aircraft Market - Startup Companies Scenario (Premium)
    4.1 Investment Analysis
    4.2 Revenue Analysis
    4.3 Venture Capital and Funding Scenario
5. Connected Aircraft Market - Industry Market Entry Scenario Premium(Premium)
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top 10 companies
    5.5 Security Governance Framework
6. Connected Aircraft Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
7. Connected Aircraft Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Market Life Cycle Analysis
8. Connected Aircraft Market – By Aircraft Type
    8.1 Light Aircrafts
    8.2 Heavy Aircrafts
9. Connected Aircraft Market – By Application
    9.1 Commercial Aircrafts
        9.1.1 Jumbo Passenger Jets
        9.1.2 Mid-Size Passenger Jets
        9.1.3 Light Passenger Jets
        9.1.4 Passenger Turboprops
        9.1.5 Cargo Airplanes
    9.2 Private Jets
        9.2.1 Light Business Jets
        9.2.2 Mid- Size Business Jets
        9.2.3 Heavy Business Jets
    9.3 Helicopter
    9.4 Defense Aircrafts
10. Connected Aircraft Market – By Flight Method
    10.1 Manned Aircrafts
    10.2 Unmanned Aircrafts
11. Connected Aircraft Market – By Flight Operation
12. Connected Aircraft Market – By Engine Type
    12.1 Turbofan
    12.2 Turboprop
    12.3 Turboshaft
    12.4 Turbojet
    12.5 Ramjet Engine
13. Connected Aircraft Market – By Structure
    13.1 Wide- body
    13.2. Narrow-body/Single Aisle
    13.3. Regional
14. Connected Aircraft Market – By Connectivity
    14.1 Air to Ground
    14.2 Air to Air
    14.3. Inflight Connectivity
15. Connected Aircraft Market – By Type
    15.1 Data Management
    15.2 Satellite Communication
    15.3 Fuel Monitoring
    15.4 Flight Management
    15.5 Aircraft Monitoring
    15.6 Passenger and Crew Connectivity
    15.7 Electronic Air Bags
    15.8 Others
16. Connected Aircraft Market – By Geography
    16.1. North America
        16.1.1 U.S
        16.1.2 Canada
        16.1.3 Mexico
    16.2. Europe
        16.2.1 U.K
        16.2.2 Germany
        16.2.3 France
        16.2.4 Italy
        16.2.5 Spain
        16.2.6 Netherlands
        16.2.7 Russia
        16.2.8 Others
    16.3. APAC
        16.3.1 China
        16.3.2 India
        16.3.3 Japan
        16.3.4 Singapore
        16.3.5 Malaysia
        16.3.6 South Korea
        16.3.7 Others
    16.4 South America
        16.4.1 Brazil
        16.4.2 Argentina
        16.4.3 Chile
        16.4.4 Colombia
        16.4.5 Others
    16.5. RoW
        16.5.1 Middle East
        16.5.2 Africa
17. Connected Aircraft Market – Entropy
18. Connected Aircraft Market – Competition Landscape (Premium)
    18.1 Market Share – Global
    18.2 Market Share by Region
    18.3 Market Share by Aircraft Type
    18.4 Market Share by Application
19. Connected Aircraft Market – Key Company List by Country Premium (Premium)
20. Connected Aircraft Market Company Analysis
    20.1 The Boeing Company(US)
    20.2 Airbus Group SE(Netherlands)
    20.3 Lockhead Martin Corporation(US)
    20.4 United Technologies Corporation(US)
    20.5 GE Aviation(US)
    20.6 Safran SA(France)
    20.7 Raytheon Company(US)
    20.8 Bombardier Inc. (Canada)
    20.9 Embraer (Brazil)
    20.10 Saab AB (Sweden)