It was estimated prior to this unanticipated outbreak that the Connected Aircraft Market was likely to witness an impressive CAGR of 19.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. Prior to this global crisis, unprecedented growth is owing to the rising demand for functional efficiency, snowballing aircraft deliveries, and the growing need to upgrade the prevalent connectivity systems across the globe.
Connected Aircraft Market Segment Insights:
By Type:
The solutions segment was estimated to remain dominant in 2018, and is anticipated to continue its dominance in the coming five years. This growth is owing to the rising air passenger traffic and the escalating demand for inflight connectivity which are the factors boosting the growth of this segment.
By Application Type:
The commercial segment is expected to grow at a higher rate, driven by the growing aircraft orders from the Asia-Pacific and the Middle Eastern countries.
By Connectivity Type:
The rising claim for inflight entertainment and passenger connectivity is the major growth driver of the inflight connectivity segment during the forecast.
By Frequency Type:
The Ku-band segment is estimated to depict the highest growth rate owing to its capability to transmit high-speed data, during the forecast period.
By Region:
North America dominated the connected aircraft market in 2018, and is expected to continue its dominance during the forecast period. There are global giant commercial aircraft manufacturers and airlines in the North American region, such as Boeing (US), American Airlines (US), United Airlines (US) and Bombardier (Canada), which create a huge demand for connected aircraft products in the coming five years. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.