Evolve Business Intelligence has published a research report on the Global Artificial Intelligence in Aviation Market, 2023–2033. The global Artificial Intelligence in Aviation market is projected to exhibit a CAGR of around 46.87% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Artificial Intelligence in Aviation Market: Microsoft, Xilinx, Samsung Electronics, Intel, Amazon, Garmin, Thales, Nvidia, IBM, and Lockheed Martin.
Market Highlights
The Artificial Intelligence in Aviation market is projected to be valued at USD 10.41 Billion by 2033, recording a CAGR of around 46.87% during the forecast period. Artificial Intelligence (AI) in aviation refers to the application of intelligent computer systems and algorithms that enable machines to perform tasks and make decisions typically associated with human intelligence in the context of the aviation industry. It involves the use of advanced technologies, such as machine learning, natural language processing, computer vision, and data analytics, to enhance various aspects of aviation operations, safety, efficiency, and passenger experience.
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Artificial Intelligence in the Aviation market witnessed a significant and enduring transformation due to the profound effects of the COVID-19 pandemic. The pandemic acted as a catalyst for the adoption and acceleration of AI technologies in the aviation industry, as airlines and aviation stakeholders sought innovative solutions to navigate through the challenges posed by the crisis. From optimizing flight operations and enhancing safety measures to improving passenger experiences and enabling contactless processes, the pandemic underscored the value and potential of AI in reshaping the aviation landscape, leading to long-lasting changes in the market.
Segmental Analysis
The global Artificial Intelligence in Aviation market has been segmented based on Offering, Technology, Application, and Region.
Based on the Offering, Artificial Intelligence in Aviation market is segmented based on Hardware, Services, and Software. Software is expected to have the largest market share throughout the forecast period, while Hardware is expected to grow at the fastest rate.
Based on Technology, the global Artificial Intelligence in Aviation market has been divided into Context Awareness Computing, Machine Learning, Computer Vision, and Natural Language Processing. The Machine Learning segments are anticipated to dominate the market.
Based on the Application, the global Artificial Intelligence in the Aviation market has been divided into Virtual Assistants, Dynamic Pricing, Smart Maintenance, Manufacturing, Surveillance, Flight Operations, Training, and Others. The Virtual Assistants segments are anticipated to dominate the market.
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Regional Analysis
The Artificial Intelligence in Aviation market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America and Europe are traditionally prominent regions in terms of technological advancements and innovation, and they have witnessed significant AI integration in aviation operations and services. The Asia-Pacific region, on the other hand, has emerged as a rapidly growing market, driven by the expanding aviation sector in countries like China and India. Latin America, the Middle East, and Africa also present opportunities for AI implementation in aviation, with initiatives aimed at improving efficiency, safety, and passenger experiences. The regional division reflects the global nature of Artificial Intelligence in Aviation market and the varying degrees of AI adoption across different parts of the world.