Growth Opportunities in the Global Aviation Satcom Market: 3.3% CAGR Forecast to 2030 Amid COVID-19 Impact on the Industry - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 23, 2021--
The “Global Aviation Satcom Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering.
The aviation satcom market is poised for improved flight operations and connectivity that will improve passenger experience, enhance safety, and increase the efficiency of flight operations of airlines.
This study covers the global aviation satcom market and provides a 10-year forecast from 2020 to 2030. The total aviation satcom market was worth $527.2 million in 2020 and, considering the impact of COVID-19, it is expected to expand at a Compound Annual Growth Rate (CAGR) of 3.3% until 2030.
This research covers the satcom service used for cockpit, cabin, and IFEC. Cockpit accounts for 80.9% of the market share. The share of cockpit satcom is expected to increase, as the airline will add more next-generation aircraft in the existing fleet, whereas the demand for cabin and IFEC is expected to increase, as airlines want to provide extra services to customers. This will not only increase the passenger experience and process efficiency but also help in making aircraft more connected during the flight to further reduce the chances of losing signals. The demand for new aviation satcom will largely come from Asia-Pacific due to the increase in aircraft orders from China and India, whereas the demand from replacement of older aircraft will be mainly seen in North America and Europe. Globally, Full Service Carriers (FSCs) are already using satcom services to a large extent compared to Low Cost Carriers (LCCs). A large number of FSCs are in the process of expansion or have long-term plans to optimize their route networks. Leading FSCs (e.g., Emirates) are also focusing on digital transformation, which will help them to improve their process efficiency. However, the COVID-19 pandemic has led to a liquidity crisis for airlines that has, in turn, halted expansion plans and forced airlines to realign their digitalization journey. Similar to hybrid airlines, LCCs are expected to focus more on customer experience by providing IFEC services during the forecast period. This opens the gate for them to earn from online advertisement and eCommerce activity.
The pandemic has severely lessened passenger traffic in airlines, reducing aircraft utilization, but health regulatory guidelines such as social distancing and contactless travel will strain capacity even amid such reduced traffic. This offers an opportunity to focus on delivering innovative solutions as per the requirements of passengers. These solutions will not only help enhance the passenger experience and ensure the maintenance of high standards of connectivity, but will provide new sources of revenue generation. Leading vendors in aviation satcom are pivoting their focus on providing more bandwidth to airlines through Medium Earth Orbit (MEO) and Low Earth Orbit (LEO) satellites.
Market leaders are also collaborating with satellite service providers, which will aid them in providing end-to-end services. Additionally, new entrants are bringing innovations and utilizing new technologies to enable better efficiency by reducing latency and aiming to deliver services at a lesser price. In the coming years, among airlines, the focus will be predominantly on process automation and connectivity. More passengers will use satcom services, which will become an integral part of airlines’ service offering.
Key Issues Addressed
- What is the size and state of the market? What is the impact of COVID-19 on the aviation satcom market?
- What are the market drivers and restraints?
- How will the latest trends influence the aviation satcom market?
- Which are the key vendors in the market, and how well are they positioned with respect to their peers?
- What are the major growth opportunities for satcom service providers and satellite operators?
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis - Global Aviation Satcom Market
3. Research Methodology
4. COVID-19 - Impact of the Pandemic
5. Key Trends
6. Key Company Profiles
- Panasonic Avionics
- Global Eagle
- Sports 24
7. Growth Opportunity Analysis - Cockpit Satcom
8. Growth Opportunity Analysis - Cabin Satcom
9. Growth Opportunity Analysis - IFEC
10. Growth Opportunity Analysis - APAC
11. Growth Opportunity Analysis - North America
12. Growth Opportunity Analysis - Europe
13. Growth Opportunity Analysis - Latin America
14. Growth Opportunity Analysis - The Middle East and Africa
15. Growth Opportunity Universe - Aviation Satcom Market
- Growth Opportunity 1: Partnering with LEO Operators to Provide Low-cost Capacity to Airlines
- Growth Opportunity 2: Offer Hardware Solutions that are Apt for LEO Capacities
- Growth Opportunity 3: Launch New Satellites to Provide Seamless Connectivity
- Growth Opportunity 4: Airlines Need to Improve Their Flight Operations Through Aircraft Health Monitoring Systems
- Growth Opportunity 5: Enhance the Passenger Experience by Providing Live Content
For more information about this report visit https://www.researchandmarkets.com/r/mhl9iq
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PUB: 08/23/2021 03:23 AM/DISC: 08/23/2021 03:23 AM