Cockpit segment will lead the overall aviation Satcom market, largely driven by data collection automation to monitor aircraft health in real time
SAN ANTONIO, Sept. 29, 2021 /PRNewswire/ -- Frost & Sullivan's recent analysis of the global aviation Satcom market finds that it is poised for improved flight operations and connectivity as a result of increased investment in in-flight entertainment. This will improve the passenger experience, enhance safety, and increase the efficiency of flight operations. Catalyzed by the aviation market's shift toward more connected and smart aircraft, the market, comprising of the cockpit segment, cabin segment, and in-flight entertainment and connectivity (IFEC), is estimated to reach $730.4 million by 2030 from $527.2 million in 2020, at a 3.3% compound annual growth rate (CAGR). However, due to the impact of COVID-19, the industry will likely witness incremental growth through 2023. Air travel is expected to return to pre-pandemic numbers by 2024, and the demand for aviation Satcom will inflate steadily throughout the forecast period.
From a regional perspective, Asia-Pacific (APAC) will generate the highest revenue for the market over the forecast period. The growth is primarily attributed to China and India, where the demand for domestic travel is high. Similarly, North America will be the second-biggest revenue contributor because most full-service carriers in the US provide premium services. In Europe and the Middle East, most of the demand is from the international market; the demand for Satcom is for long-haul flights.
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"The cockpit segment will lead the overall market as it will be driven by the automation of data collection to monitor aircraft health in real time," said Waseem Ahmed Khan, Industry Analyst, Aerospace & Defense Practice, Frost & Sullivan. "In addition, airlines' move to provide the latest digital services to enhance their passengers' experience will inflate the demand for both segments—cabin Satcom and IFEC."
Khan added, "A majority of the airlines are also focused on extracting tangible benefits from a digital transformation program that can include creating new ancillary revenue streams and improving maintenance operations and aircraft turnaround time. Dedicated digital transformation or change management teams are being set up internally by airlines to oversee the execution of their digital transformation strategy."
To tap into the growth prospects created by the digitalization of airlines, Satcom market participants should:
Global Aviation Satcom Growth Opportunities is part of Frost & Sullivan's Global Aerospace & Defense Growth Partnership Service program.
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Global Aviation Satcom Growth Opportunities
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