What is Aviation Analytics?
Aviation analytics is a computing system that gives information or statistics to end users based on previous airport operational data, historical flight data, weather forecasts, and real-time flight data. The increased emphasis on competitive intelligence and real-time analytical solutions is attributable to an increase in organisational aviation analytics investment. Furthermore, aviation analytics systems have played a vital role due to their benefits such as reduced revenue leakage, increased profits, and more efficient and effective financial operations that allow airlines to achieve up to a tenfold improvement in key performance indicators.
Aviation Analytics feature to drive Aviation Analytics demand
The continuous expansion in passenger traffic will generate vast amounts of data, requiring aviation sector participants to apply analytical solutions for a variety of purposes such as anticipating customer preferences, decreasing operating costs, managing fuel costs, and so on.
Participants in the worldwide aviation industry are increasingly relying on competitive intelligence and analytical solutions to increase their company's profitability. This is fueling the increased popularity of aviation analytics solutions, giving the market a boost.
As the volume of data generated by aircraft passengers grows, so does the volume of data generated. This is boosting the market by providing a pressing requirement to study the aviation industry. The rising emphasis on jet fuel management is also driving up demand for these systems.
During the projected period, the airline sub-segment is expected to increase the most. The growth is due to the fact that, with the help of big data mining and architecture, airline companies can conduct an in-depth competitive analysis, which allows them to develop business models such as safety and security risk modelling, engineering and maintenance optimization, demand modelling and forecasting, and so on.
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Aviation Analytics: 12.7% CAGR
Projected Revenue: 3.9 billion from 2021 to 2027
Conclusion: Most firms are using aviation analytics because these solutions assist them improve their operational performance, maintenance, and profitability. In order to meet the approaching demands, such as customer requirements, companies are implementing aviation analytics, which promises to boost analytical resolution while also assisting in maximising the organisations' operating revenue. The aviation analytics solutions are used for a variety of applications in the aviation industry, including fuel management, revenue management, customer analytics, and risk management.
Published Date : October-2021