Artificial Intelligence in Aviation Market was valued at US$ 189.7 Mn. in 2021 and is expected to grow at US$ 2,823.8 Mn in 2029. Artificial Intelligence in Aviation Market size is expected to grow at a CAGR of 47.07% through the forecast period.
Artificial Intelligence in Aviation Market Overview:
Artificial Intelligence (AI) is steadily being adopted in a multitude of commercial products and services. AI can revolutionize the design, manufacturing as well as operations and provide operational advantages if incorporated well. Artificial intelligence (AI) is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by animals including humans. AI research has been defined as the field of study of intelligent agents, which refers to any system that perceives its environment and takes actions that maximize its chance of achieving its goals. AI can be used to assist customers in the airport and it can help a company reduce its operational costs and labor costs at the same time. Airlines companies are now using AI technologies to help their customers to resolve issues quickly by getting accurate information on future flights trips on their internet-enabled devices.
The Artificial Intelligence in Aviation Market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the Artificial Intelligence in Aviation Market , as well as the reasons for variations in the industry’s growth between regions.
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Market Scope:
Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.
Segmentation:
Based on Offering, the software held the largest share of the overall AI in the aviation market. This is due to the developments in AI software for applications such as surveillance, flight operations, and airport operations. AI systems comprise software including application interfaces, such as language, speech, vision, and sensor data, alongside machine learning algorithms, to understand various applications within the aviation industry. The increase in investment in R&D to develop advanced AI software for applications such as surveillance, flight operations, and airport operations leads to the growth of the software segment of Artificial Intelligence in Aviation Market.
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Key Players:
Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers’ annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.
The biggest players in the Artificial Intelligence in Aviation Market are as follows:
• Intel
• NVIDIA
• IBM
• Micron
• Samsung
• Xilinx
• Amazon
• Microsoft
• Airbus
• Boeing
• General Electric
• Thales
• Lockheed Martin
• Garmin
• Nvidia
• GE
• Pilot AI Labs
• Neurala
• Northrop Grumman
• IRIS Automation
• Kittyhawk
Regional Analysis:
Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Artificial Intelligence in Aviation Market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
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COVID-19 Impact Analysis on Artificial Intelligence in Aviation Market :
Due to a break in operations, end-user sectors where Artificial Intelligence in Aviation Market are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for Artificial Intelligence in Aviation Market manufacturers, impacting the growth of the Artificial Intelligence in Aviation Market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for Artificial Intelligence in Aviation Market .
Key Questions Answered in the Artificial Intelligence in Aviation Market Report are:
- In 2021, which segment owned the greatest share of the Artificial Intelligence in Aviation Market ?
- What is the competitive landscape of the Artificial Intelligence in Aviation Market ?
- What are the key factors influencing Artificial Intelligence in Aviation Market growth?
- In the Artificial Intelligence in Aviation Market , which region has the most market share?
- What will be the CAGR of the Artificial Intelligence in Aviation Market over the forecast period (2022-2027)?
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