InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Cloud as a Data Accelerator in Aviation Market- (By Type (Hardware, Software, and Service), By Application (Virtual Assistants and Smart Maintenance)) Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Cloud as a Data Accelerator in Aviation Market is expected to grow with a CAGR of 14.2% during the forecast period of 2024-2031.
Cloud as a data accelerator in aviation means implementing AI solutions and technology in the aviation sector and improving aviation operations, safety, efficiency, and the utilization of AI to enhance the consumer experience methods, data mining, natural language processing, computer vision, automation, and other artificial intelligence (AI) methods. The use of AI-powered algorithms to analyze flight data, weather forecasts, air traffic patterns, and fuel usage enables the optimization of aircraft routes in real time. Lowered fuel consumption, emissions, operational expenses, improved passenger experience, and on-time flights are all results of airlines’ use of cloud-based technologies, which provide the computational capability and scalability necessary to execute complex route optimization calculations. Increases in security measures and regulatory compliance, coupled with artificial intelligence’s (AI) rising popularity, are factors that could propel the market forward. Utilizing cloud-based data acceleration systems allows for the integration, analysis, and visualization of data, which is becoming increasingly important in the aviation industry because of the numerous IoT devices that have been developed, like aircraft sensors, ground support equipment, and passenger wearables. Digital twin technology, which creates digital replicas of physical assets and systems for testing, optimization, and simulation, also has numerous practical applications in the aviation industry. However, security and confidentiality of data worries, as well as integration challenges with existing systems, are limiting factors in the market’s expansion.
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List of Prominent Players in the Cloud as a Data Accelerator in Aviation Market:
- Airbus
- Amazon
- Boeing
- Garmin
- GE
- IBM
- Intel
- Iris Automation
- Kittyhawk
- Lockheed Marti
Market Dynamics:
Drivers:
The growing demand for the cloud as a data accelerator in the aviation market is fueled by the increasing demand for air traffic management systems and the increased emphasis on enhancing the passenger experience. Air traffic management systems hosted in the cloud allow for remote tower operations, allowing air traffic controllers to oversee multiple airports from a single location. By transmitting real-time video streams, radar data, and other sensor readings to control interfaces in the cloud, remote tower systems guarantee safety and regulatory compliance while enhancing operational efficiency, cost-effectiveness, and scalability.
Challenges:
The prime challenge is strict rules and regulations, a shortage of competent individuals, and a lack of norms and protocol because of lockdowns and isolation in emerging countries, which is predicted to slow the growth of the cloud as a data accelerator in the aviation market. With the advent of AI technologies come new worries about security, safety, and conformity with regulatory frameworks in the heavily regulated aviation business. Complex and time-consuming tasks include ensuring the safe and reliable functioning of AI systems, resolving ethical problems, and developing standards and guidelines for the cloud as a data accelerator in aviation. For artificial intelligence systems to perform well, they need datasets that are both diverse and of high quality. The COVID-19 pandemic had a significant effect on airports, airlines, and the companies that worked with them. International tourism was lower than pre-COVID-19 pandemic levels despite widespread immunization efforts. The pandemic has devastated airline budgets and those of the whole aviation value chain. Every single subsector of the industry saw heavy losses, with the exception of cargo airlines and freight forwarders.
Regional Trends:
The North American cloud, as a data accelerator in the aviation market, is anticipated to register a major market share in terms of revenue. It is projected to grow at a high CAGR in the near because of digitalization in this area, which is improving the aviation industry’s technical perspective. In addition, the market is being boosted by the expanding airlines and maintenance businesses in the region. Besides, Europe had a substantial share of the market due to the ever-increasing volume of data produced by airports, airlines, and air traffic control systems.
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Recent Developments:
- In March 2024, IBM Consulting and Microsoft launched their first joint venture, the IBM-Microsoft Experience Zone, in Bangalore, India. In the Experience Zone, clients can learn more about how Microsoft’s products and technologies, such as hybrid cloud and generative AI, can aid in their business transformation efforts and provide them with a competitive edge.
- In February 2024, GE Hitachi Nuclear Energy (GEH) was thrilled to learn that it had been granted an FNEF grant of £33.6 million by the United Kingdom’s Energy Security Agency and Zero Net Energy (DESNZ). The government of the United Kingdom is targeting 24 GW of nuclear power as a means to achieve net zero energy consumption and security.
Segmentation of Cloud as a Data Accelerator in Aviation Market-
By Type
- Hardware
- Software
- Service
By Application
- Virtual Assistants
- Smart Maintenance
By Region
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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Contact Person: Diana D’Souza
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Country: United States
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