Artificial Intelligence
Airline Technology Integration Market Is Expected to Reach $89.1 Billion by 2031: Says AMR
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Portland, OR , March 06, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global airline technology integration market was estimated at $21 billion in 2021 and is expected to hit $89.1 billion by 2031, registering a CAGR of 15.9% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $21 Billion |
| Market Size in 2031 | $89.1 Billion |
| CAGR | 15.9% |
| No. of Pages in Report | 300 |
| Segments Covered | Technology, Offering, Deployment, and Region. |
| Drivers | Integration of novel technologies to improve airline technology integration activities. |
| Rise in the incorporation of artificial intelligence in digital interactions between airlines and passengers | |
| Restraints | High implementation cost for cutting-edge technologies |
| Lack of smart IT professionals in airorts | |
| Opportunities | Growing demand for smart and green airline technology solutions |
Covid-19 scenario-
- The airline industry suffered severe losses throughout its development as a result of border closures and the termination of non-essential travel. Millions of travelers had to cancel their local and international flights owing to the restrictions on board, which impacted the global airline technology integration market negatively.
- However, the market has now got back on track.
The global airline technology integration market is analyzed across type, technology, application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By technology, the cybersecurity segment held the highest share in 2021, garnering around one-third of the global airline technology integration market revenue. The artificial intelligence segment, on the other hand, would showcase the fastest CAGR of 16.7% throughout the forecast period.
By offering, the software segment contributed to around three-fourths of the global airline technology integration market share in 2021, and is projected to rule the roost by 2031. The same segment would also display the fastest CAGR of 16.3% throughout the forecast period. The hardware segment is also discussed in the report.
By deployment, the on-premises segment accounted for the highest share in 2021, generating more than half of the global airline technology integration market revenue. The cloud segment, simultaneously, would portray the fastest CAGR of 16.5% during the forecast period.
By region, North America held the major share in 2021, garnering more than one-third of the global airline technology integration market revenue. Asia-Pacific, simultaneously, would showcase the fastest CAGR of 16.9% from 2022 to 2031. The other provinces studied through the report include Europe and LAMEA.
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The key market players analyzed in the global airline technology integration market report include Boeing, Collins Aerospace, Honeywell International Inc. IBM, L3Harris Technologies, General Electric, Lufthansa Technik, Airbus, and OracleSAP SE. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
