The Connected Aircraft Market is projected to grow from USD 2.51 billion in 2020 to USD 10.49 billion in 2027 at a CAGR of 22.9% in the 2020-2027 period. Staggering rise in the number of air travelers is playing a central role in propelling the growth of this market. According to the International Civil Aviation Organization (ICAO), in 2018, airlines transported 4.3 billion passengers, showing an increase in global flight departures by 38 million from 2017 levels. In terms of value, air travel accounted for 35% of world trade, the ICAO states. This fast-paced rise in air transport has led to an upsurge in the demand for aircraft across the globe. Added to this is the increasing disposable income, especially in Asia-Pacific, that is fueling the demand for better in-flight entertainment, making connected aircraft even more relevant in today’s day and age. As a result, many OEMs have been spurred into action to come up with novel solutions to meet the ever-escalating demands of air passengers, augmenting the connected aircraft market growth.
Fortune Business Insights shares the above information in its new report, titled “Global Connected Aircraft Market Size, Share Industry Analysis, By Type (Systems and Solutions), Connectivity (Inflight, Air to Air, and Air to Ground Connectivity), Application (Commercial and Military), Frequency Band (Ka-Band, Ku-Band, and L-Band) and Regional Forecasts, 2020-2027”. According to the report, this market was valued at USD 2.51 billion in 2020. The report further provides the following information:
