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Artificial Intelligence in Aviation Market (Offering - Hardware, Software, and Services; Technology - Machine Learning, Natural Language Processing, Context Awareness Computing, and Computer Vision; Application - Virtual Assistants, Smart Maintenance, Manufacturing, Training, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : August, 2021

  • Rep Id : ICT00273

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on artificial intelligence in aviation market provides an in-depth analysis of segments and sub-segments in the global as well as regional artificial intelligence in aviation market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional artificial intelligence in aviation market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of global artificial intelligence in aviation market. According to the report, the global artificial intelligence in aviation market is projected to grow at a CAGR of 47.1% over the forecast period of 2021-2027, growing from nearly USD 495.4 million in 2021 to about USD 5,012.8 million in 2027.

 

Market Insight

Artificial intelligence offers a more reliable and faster work process than humans, playing an important role in various industries. AI has the potential to amplify the effectiveness of services with improved productivity. In addition, artificial intelligence has several features such as speech recognition, learning, planning, and problem-solving capabilities which help the service providers such as aviation companies to provide an efficient operational environment that helps to enhance the quality of the customer experience. On the other side, reluctance for the acceptance of artificial intelligence among the service providers is expected to restrain the market growth over the forecast period.

 

Increasing investment in artificial intelligence globally is driving global AI in the aviation market. Furthermore, the rise in the adoption of smart manufacturing initiatives is supporting the demand for AI in aviation. These days, manufacturing units are becoming increasingly automated, self-monitoring, and self-correcting as the machines are able to analyze and communicate with each other and their human co-workers. On the other side, the dearth of a skilled workforce is hampering the market growth. Though the investments in the AI industry are increasing, one of the key challenges is the lack of skills and experience associated with AI. Nevertheless, the adoption of automation technologies to curb the effects of COVID-19 is creating opportunities for market players. Nationwide lockdowns, absence of labor force due to transport restrictions, and disruption of the supply chain are likely to drive the automation needs across the manufacturing sector.

 

In terms of regions, North America accounted for the largest share in the global AI in the aviation market due to the continued American leadership in AI. The national strategy such as American Artificial Intelligence Initiative maintains the United States leadership in AI technology a top priority. The aviation industry in the U.S. is anticipated to experience encouraging growth as several companies are investing heavily on AI technology to maintain their inventories and reduce the cost. Nonetheless, the Asia Pacific region is expected to grow at an exceptional rate due to China’s adoption of the technology in its industrial manufacturing operations. Moreover, the presence of several leading players in India and China is likely to be a key factor driving the adoption of AI technology in this region.

 


Artificial Intelligence in Aviation Market


Segment Covered

The report on global artificial intelligence in aviation market covers segments such as offering, technology, and application. On the basis of offering, the sub-markets include hardware, software, and services. On the basis of technology, the sub-markets include machine learning, natural language processing, context awareness computing, and computer vision. On the basis of application, the sub-markets include virtual assistants, smart maintenance, manufacturing, training, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Amazon Web Services, Inc., IBM Corporation, Microsoft Corporation, NVIDIA Corporation, Micron Technology, Inc., Airbus S.A.S., Boeing Company, Garmin Ltd., Lockheed Martin Corporation, and Thales Group.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of artificial intelligence in aviation market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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