The airline technology integration global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Airline Technology Integration Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The airline technology integration market size has grown rapidly in recent years. It will grow from $21.06 billion in 2023 to $23.81 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to increased passenger traffic, demand for operational efficiency, focus on enhanced safety, increased customer expectations, and rise of low-cost carriers.
The airline technology integration market size is expected to see rapid growth in the next few years. It will grow to $39.29 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to increasing air travel demand, enhanced safety and security requirements, shift towards sustainable aviation, demand for seamless passenger experience, and focus on operational excellence. Major trends in the forecast period include the adoption of voice recognition technology, eco-friendly aircraft technologies, adoption of 5G connectivity, the integration of artificial intelligence, and the integration of augmented reality.
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Scope Of Airline Technology Integration Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Airline Technology Integration Market Overview
Market Drivers –
The rising number of passengers opting for air travel is expected to propel the growth of the airline technology integration market going forward. Air travel refers to the transportation of passengers or cargo by aircraft, typically across long distances, utilizing the earth’s atmosphere as a medium for flight. The rising number of passengers opting for air travel is driven by factors such as increased affordability, convenience, and the expansion of airline routes. Air travel passengers utilize airline technology integration for streamlined booking, seamless check-in processes, personalized travel experiences, and real-time flight updates. For instance, in March 2023, according to the Bureau of Transportation Statistics, a US-based government agency, the number of passengers transported by American airlines surged by 30%, from 658 million in 2021 to 853 million in 2022. Therefore, the rising number of passengers opting for air travel is driving the growth of the airline technology integration market.
Market Trends –
Major companies operating in the airline technology integration market are focusing their efforts on introducing advanced solutions, such as facial recognition technology, to enhance operational efficiency and gain a competitive edge in the market. Facial recognition technology in airlines refers to a technological solution that streamlines check-in, security, and boarding processes, enhancing efficiency and security measures. For instance, in February 2023, Air Canada, a Canada-based airline company, launched the Digital Identification Pilot, a digital identification facial recognition technology through the Air Canada app that allows passengers to create a digital profile before traveling to board the plane without needing to present paper documents. With this launch, Air Canada has become the first airline to launch this facial technology. This digital profile is then used to verify their identity at airports using facial recognition technology. The system, which is currently available for entry to the Air Canada Cafe, aims to simplify and streamline the identification process for passengers, offering a more efficient and secure boarding experience.
The airline technology integration market covered in this report is segmented –
1) By Offering: Software, Hardware
2) By Deployment: On-Premises, Cloud
3) By Technology: Internet Of Things (IoT), Cybersecurity, Artificial Intelligence, Advanced Analytics, Biometrics, Blockchain, Wearable Technology, Other Technologies
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Regional Insights –
North America was the largest region in the airline technology integration market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airline technology integration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the airline technology integration market report are <b>Microsoft Corporation; Hitachi Ltd.; Raytheon Technologies Corporation; The Boeing Company; Airbus SE; Accenture plc; International Business Machines Corporation ; General Electric Company; Oracle Corporation; Honeywell International Inc.; Safran S.A.; Thales Group; Palo Alto Networks Inc.; Garmin Ltd.; Amadeus IT Group SA; Sabre Corporation; Viasat Inc.; Cubic Corporation; SITA; Gogo Inc. </b>
Table of Contents
1. Executive Summary
2. Airline Technology Integration Market Report Structure
3. Airline Technology Integration Market Trends And Strategies
4. Airline Technology Integration Market – Macro Economic Scenario
5. Airline Technology Integration Market Size And Growth
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27. Airline Technology Integration Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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