The global ''5G in aviation industry'' size is projected to reach USD 4.2 billion, surging at a CAGR of 53.46% during the forecast period. Increasing need to replace 4G LTE with 5G technology in aviation is foreseen to be one of the central factors driving the growth of this market. Aviation industry is expanding at breakneck speed and 5G technology is slated to play a crucial role in charting its development. Introduction of 5G in this industry is aimed at establishing a robust connectivity infrastructure that would facilitate seamless communication between aircraft and their ground control systems. Moreover, high-speed internet on planes would enable people to conduct business activities whilst they are flying, saving them precious time and energy. More importantly, 5G will be instrumental in strengthening the integration of Internet of Things (IoT) technology in the aviation domain, a feat that would be difficult to attain with 4G LTE. This would greatly augment the 5G in aviation market growth till 2026.
According to a new report published by Fortune Business Insights, titled “Global 5G in Aviation Market Size, Share & Industry Analysis, By Platform (5G Airport and 5G Aircraft), Technology (FWA, URLLC/MMTC, and eMBB), Communication Infrastructure (Small Cell, Radio Access Network (RAN) and Distributed Antenna Systems (DAS)), 5G Services (Airport Operations, and Aircraft Operations), and Regional Forecast, 2019-2026”, the market value stood at USD 0.2 billion in 2019. The report shares profound insights into the various drivers, dynamics, and other factors that will shape the development of this market during the forecast period. Besides this, the report also provides an elaborative overview of the overall industry outlook that will also influence the market. Lastly, the research contained in the report will aid businesses to take important strategic decisions in a well-informed manner.
Here's a list of the leading 5G in Aviation manufacturers operating in the global market:
• Global Eagle Entertainment
• Smartsky Networks
• Aeromobile Communications
• Inseego Corp.
• Nokia Corporation
• Cisco Systems
• Panasonic Avionics Corporation
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Study Period: 2016-2027
Base Year: 2019
Forecast Period: 2020-2027
Historical Period: 2016-2018
Rising Utility of 5G Technology in Aviation to Boost Growth Prospects
Increasing demand for 5G connectivity in flying operations is expected to be one of the leading 5G in aviation market trends. This is because 5G can be utilized in a wide range of applications. For instance, 5G technology can prove to be critical in drone operations as high-speed connectivity can provide crucial real-time data for any kind of military activity. Furthermore, 5G in aviation can elevate the safety and security quotient of airplanes as pilots will able to communicate swiftly with air control towers in times of distress. One of the most important benefits of aviation 5G is real-time aircraft health monitoring, which can be accomplished through predictive maintenance tools and techniques. These benefits are likely to accelerate the 5G in aviation market revenue in the near future.
North America to Lead the Pack; Asia-Pacific to Follow
With a revenue generation of USD 0.9 billion in 2019, North America is poised to dominate the 5G in aviation market share during the forecast period. The main forces propelling the market in the region include rising demand for better in-flight experience, increasing air travel, and a thriving aviation industry. Development of small regional airports and growing investments by in-flight entertainment service providers such as GoGo in 5G will also play a pivotal role in driving the market in North America.
In Asia-Pacific, rapid expansion of aviation infrastructure and increasing adoption of 5G technology in aviation, especially in China, will be the two key factors driving the growth in this region. China would be one of the early movers for adopting 5G technologies at airports. Moreover, Japan, Australia, and South Korea are doubling down their investment in developing 5G infrastructure, which will augur well for the market in Asia-Pacific.
5G in Aviation Market report Focus on:
• Extensive product offerings
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• Robust research methodology
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• Latest technological developments
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• Potential Market opportunities
• Growth dynamics
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Reasons to Purchase this Report:
• Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
• Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
• Identifies market restraints and boosters.
• Identifies all the possible segments present in the market to aid organizations in strategic business planning.
Key Questions Answered:
• Why Choose Fortune Business Insights?
• What are the key demands and trends shaping the market?
• What are the key opportunities in the market?
• What are the key companies operating in the market?
• Which company accounted for the highest market share?
• What is the market size and growth rate of the global and regional market by various segments?
• What is the market size and growth rate of the market for selective countries?
• Which region or sub-segment is expected to drive the market in the forecast period?
• What Factors are estimated to drive and restrain the market growth?
Prudent Partnerships to Stimulate Competition
The 5G in aviation market forecast by Fortune Business Insights paints a dynamic picture of the competition in this market owing to increasing strategic collaborations between competitors. Such collaborations are aimed at consolidating the players’ hold on the market through broadening of their service offerings.
Key Industry Developments:
• October 2019: Gogo joined hands with Airspan Networks to develop a novel air-to-ground (ATG) 5G network. It will be designed for business aviation aircraft, small mainline jets, and commercial regional jets shuttling along the US-Canada border areas.
• September 2019: Vodafone installed its 5G network at London’s Gatwick Airport. This is part of Gatwick Airport’s five-year digital transformation program, which will make Gatwick one of the first smart airports in the whole of UK.
Browse Complete Summary of research: https://www.fortunebusinessinsights.com/industry-reports/5g-in-aviation-market-101778
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