AI in Aviation Market Overview
The AI in aviation market is experiencing significant growth and is expected to continue expanding in the coming years Market Research Future's report on the global AI in aviation market is projected to grow from USD 3.41 Billion in 2023 to USD 31.01 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 27.80% during the forecast period (2023 - 2032).
The adoption of APAC AI in the aviation industry is driven by various factors, including the use of big data, capital investments by aviation companies, and the rising adoption of cloud-based applications and services .
Top Key Players:
The major players operating in the global AI in aviation market are,
- Intel Corporation
- Garmin Ltd.
- IBM Corporation
- Airbus SE
- Boeing
- General Electric
- Amazon
- Microsoft Corporation
- NVIDIA Corporation
- Neurala Inc
- Samsung Electronics
- Micron Technology
- Xilinx
- Thales S.A.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Pilot AI Labs
- IRIS Automation
- Innovative Binaries
- Cognitive Code
- Searidge Technologies
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Key Applications of AI in Aviation
AI has a wide range of applications in the aviation industry. Some of the key applications include:
Air Navigational Aids and Aircraft Upkeep: AI is used to enhance air navigational aids and improve aircraft maintenance .
Revenue Management: AI is utilized for dynamic pricing algorithms, which help optimize pricing based on market conditions.
Crew Leadership: AI can assist in crew management and leadership tasks.
Flying Optimized Routes: AI can analyze data to determine the most efficient flight routes .
Digitalized Check-Ins: AI can streamline the check-in process by automating tasks and improving efficiency .
Baggage Assistance: AI can be used to track and manage baggage, improving the overall passenger experience .
AI-Fastened Security: AI technologies can enhance security measures in airports and during flights.
Digital Entertainment: AI can provide personalized and interactive entertainment options for passengers .
These applications highlight the potential of AI to improve various aspects of the aviation industry, including customer experience, operational efficiency, and safety.
Technology Insights
Machine learning is a dominant technology in the AI in aviation market. It held the largest revenue share in 2021 and is expected to continue its dominance in the coming years . Machine learning technology is in high demand due to its ability to perform complex calculations and analyze big data, which is crucial in the aviation industry .
Future Trends and Outlook
The future of AI in aviation is expected to focus on digital transformation initiatives aimed at improving customer experience, streamlining processes, reducing costs, and exploring the benefits of implementing cutting-edge technologies . The market is projected to witness significant growth, driven by factors such as the rapid development of AI technology, increased automation, and the utilization of big data in the aerospace industry .
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