Global Artificial Intelligence in Aviation Market is valued at USD 1.03 Billion in 2022 and expected to reach USD 13.38 Billion by 2029 with a CAGR of 44.15% over the forecast period.
Global Artificial Intelligence in Aviation Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, and 2022-2029: Rising use of Big Data in aviation industry, increasing adoption of cloud-based applications, and growing investments to develop AI by aviation companies are some of the major factors driving the growth of the Global Artificial Intelligence in Aviation Market.
Artificial intelligence in aviation assists experts to access the verifiable and real-time information from different areas. Whereas the systems are viable with mobile and desktop that provides notifications as well as warnings regarding existing condition of airplane. Additionally, it assists the technician by detecting the issues pointing at conceivable malfunction and supplant parts proactively. Air terminals all over the planet are implementing artificial intelligence (AI), machine learning algorithms, and other developing technologies to offer customized services and improve the client experience. There is a wide assortment of current use cases for AI innovations at air terminals: Self-service kiosks, AI bots, AI-powered facial recognition solutions, waiting times, security checkpoints, A.I.-based real-time translation devices, thermal cameras.
The COVID-19 pandemic has shown a negative impact on the growth of the global artificial intelligence in aviation market. The outbreak showed the negative impact on the financial conditions of aviation value chain significantly for the airlines. The consistently increasing risk of COVID-19 outbreak is projected to reduce the investment of organizations in artificial intelligence in aviation solutions and services during. As airports are closed because of lockdown limitations, the utilization of artificial intelligence in aviation is stopped. Hence above factors interpret that the covid-19 pandemic showed the negative impact on the global AI in aviation market.
The global artificial intelligence in aviation market is segmented based on offering, technology, application, and region and country level. On the basis of offering, the global artificial intelligence in aviation market is segmented into software, hardware, and service. Based technology, the market is segmented into machine learning, computer vision, context awareness computing, and natural language processing (NLP). By application, the global artificial intelligence in aviation market is segmented into training, surveillance, smart maintenance, manufacturing, virtual assistants, flight operations, dynamic pricing, and others.
The regions covered in the global artificial intelligence in aviation market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. On the basis of country level, the market of global artificial intelligence in aviation is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some major key players for the global artificial intelligence in aviation market report cover prominent players like
On July 18th, 2022; Microsoft had uncovered Task AirSim, another development, at the Farnborough International Airshow. Project AirSim utilizes high-fidelity simulation to securely fabricate, train, and test autonomous airplane on the Azure stage. It is basically an artificial intelligence (AI) - fueled simulator for drones, flying taxicabs, and other high level aerial mobility (AAM) vehicles. Clients of Project AirSim can likewise capable to access a library of explicit areas, as New York City or London, or generic spaces, similar to an airport, and establish a great many exact 3D environments utilizing information from Bing Maps and different suppliers.
One of the major factors driving the growth of the global artificial intelligence in aviation market is the rising use of Big Data in aviation industry. AI makes it conceivable to upgrade client experience with automation and self-service solutions, enhance employee workflow, and guarantee higher air security with prescient and prescriptive airplane maintenance. It allows airlines to arrive at informed decisions about pricing and market situating through the smart utilization of data. For instance, on November 25th, 2021; PureStrategy introduced a platform for business analytics called the Automated Neural Intelligence Engine (ANIE). The engine’s usefulness incorporates data review, visualization, categorization, amend sentiment investigation. Thus, the engine does a ton of manual and tedious work with data permitting people to focus on additional complicated tasks.
In addition, increasing adoption of cloud based applications is boosting the growth of the global artificial intelligence in aviation market. The cloud-based software that runs with respect to the Industrial Internet empowers experts to gather and analyse information generated via airplane during a trip to plan the ideal amount of fuel. For example, in 2021, Delta launched the facial acknowledgment advancement to recognize travellers at the air terminal touch points. Furthermore, growing investments for AI by aviation companies drives the global artificial intelligence in aviation market. However, lack of skilled professionals for AI-based operations may hamper the growth of the global artificial intelligence in aviation market. In spite of that, increasing adoption of data analytics and automated purchaser services system can provide plethora of opportunity in the global artificial intelligence in aviation market over the forecast period.
North America expected to dominate global artificial intelligence in aviation market within the forecast period due to rising number of international flight travels in the US & Canada, growing adoption of advanced and latest digital and novel technologies, and presence of key players in the region. For example, as per the article published by statistic of Canada, in 2021, U.S. residents went on 1.1 million trips to Canada through land ports with electronic sensors in August. This is the second continuous month the number surpassed 1,000,000. Also, presence of key players drives the artificial intelligence in aviation market in the region over the forecast period. For instance, in June 2020, an AI organization named SparkCognition went into collaboration with Boeing to frame SkyGrid to fabricate an aerial operating system that would uphold the impending generation of autonomous aviation.
Asia Pacific is fastest growing region in the global artificial intelligence in aviation market. Since manufacturers shows the drastic investment in the research and development. For instance, in 2020; EHang, a China-based organization and Airbus are collectively taken part in creating artificial intelligence-based navigation technology. EHang involves AI in its independent airplanes and Airbus has finished its first taxi, take-off and landing utilizing the vision based artificial intelligence.
|2018 - 2021
|2022 - 2029
|Market Size in 2022:
|USD 1.03 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2029:
|USD 13.38 Billion
|Tables, Charts & Figures:
|Microsoft, IBM, Airbus S.A.S., NVIDIA Corporation, SAMSUNG, Intel Corporation, General Electric, Thales Group, Micron Technology, Inc., OMRON Corporation, Garmin Ltd., Lockheed Martin Corporation, MINDTITAN, Mitsubishi Electric Corporation, Amazon Web Services, Inc., Xilinx, IRIS Automation, TAV Technologies, and others.
|By Offering, By Technology, By Application.
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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