The Europe Aviation Analytics Market would witness market growth of 11.0% CAGR during the forecast period (2022-2028).
Big data analytics would allow the airlines to continue operating on the efficiency of the airspace usage as airport traffic grows daily, particularly when it pertains to flight routes, runway bandwidth, kinds of aircraft, etc. To give an example, delays and cancellations result in hefty costs for airlines, which also involve maintenance costs and compensation for passengers stranded in airports. Predictive analytics utilized in fleet technical assistance is a suitable solution given that unscheduled maintenance accounts for close to 30% of the overall delay time.
In order to effectively manage the data collected by aircraft health monitoring sensors, carriers use predictive maintenance technologies. These systems often work with desktop as well as mobile devices, giving technicians access to both current and past data wherever they are. Employees can identify problems pointing to potential malfunctions and substituting parts proactively by being aware of an aircraft's present technical state via notifications, alerts, and reports.
The expansion of the aviation analytics market is mostly driven by nations like Germany and the United Kingdom. This is due to the aviation analytics industry's technological developments. Additionally, the region's demand for aviation analytics is being boosted by the growth in travel and tourism as well as the modernization of the aviation industry. Additionally, the Internet of Things and the usage of artificial intelligence have eliminated the need for human participation, making it simple for businesses to perform aviation analytics.
The Germany market dominated the Europe Aviation Analytics Market by Country in 2021; thereby, achieving a market value of $359.4 million by 2028. The UK market is exhibiting a CAGR of 10.1% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 11.8% during (2022 - 2028).
Based on Business Function, the market is segmented into Sales & Marketing, Finance, Maintenance, Repair & Operations, and Supply Chain. Based on End User, the market is segmented into Airlines, Airports, and Others. Based on Component, the market is segmented into Services and Software. Based on Application, the market is segmented into Customer Analytics, Flight Risk Management, Fuel Management, Revenue Management, Inventory Management, and Navigation Services. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Aviation Analytics Market will Hit $5.6 Billion by 2028, at a CAGR of 11.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Oracle Corporation, IBM Corporation, General Electric (GE) Co., Ramco Systems Limited, Accelya Group (Vista Equity Partners), SAS Institute, Inc., OAG Aviation Worldwide Limited, IGT Solutions Pvt. Ltd. and Mu Sigma, Inc.
By Business Function
By End User
By Component
By Application
By Country
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