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New York, Aug. 23, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Aviation Satcom Growth Opportunities” – https://www.reportlinker.com/p06130361/?utm_source=GNW
This study covers the global aviation sitcom market and provides a 10-year forecast from 2020 to 2030.
The total aviation satcom market was worth $527.2 million in 2020 and, considering the impact of COVID-19, it is expected to expand at a Compound Annual Growth Rate (CAGR) of 3.3% until 2030. This research covers the satcom service used for cockpit, cabin, and IFEC. Cockpit accounts for 80.9% of the market share. The share of cockpit satcom is expected to increase, as the airline will add more next-generation aircraft in the existing fleet, whereas the demand for cabin and IFEC is expected to increase, as airlines want to provide extra services to customers. This will not only increase the passenger experience and process efficiency but also help in making aircraft more connected during the flight to further reduce the chances of losing signals. The demand for new aviation satcom will largely come from Asia-Pacific due to the increase in aircraft orders from China and India, whereas the demand from replacement of older aircraft will be mainly seen in North America and Europe. Globally, Full Service Carriers (FSCs) are already using satcom services to a large extent compared to Low Cost Carriers (LCCs). A large number of FSCs are in the process of expansion or have long-term plans to optimize their route networks. Leading FSCs (e.g., Emirates) are also focusing on digital transformation, which will help them to improve their process efficiency. However, the COVID-19 pandemic has led to a liquidity crisis for airlines that has, in turn, halted expansion plans and forced airlines to realign their digitalization journey. Similar to hybrid airlines, LCCs are expected to focus more on customer experience by providing IFEC services during the forecast period. This opens the gate for them to earn from online advertisement and eCommerce activity. The pandemic has severely lessened passenger traffic in airlines, reducing aircraft utilization, but health regulatory guidelines such as social distancing and contactless travel will strain capacity even amid such reduced traffic. This offers an opportunity to focus on delivering innovative solutions as per the requirements of passengers. These solutions will not only help enhance the passenger experience and ensure the maintenance of high standards of connectivity, but will provide new sources of revenue generation. Leading vendors in aviation satcom are pivoting their focus on providing more bandwidth to airlines through Medium Earth Orbit (MEO) and Low Earth Orbit (LEO) satellites. Market leaders are also collaborating with satellite service providers, which will aid them in providing end-to-end services. Additionally, new entrants are bringing innovations and utilizing new technologies to enable better efficiency by reducing latency and aiming to deliver services at a lesser price. In the coming years, among airlines, the focus will be predominantly on process automation and connectivity. More passengers will use satcom services, which will become an integral part of airlines’ service offering.
Read the full report: https://www.reportlinker.com/p06130361/?utm_source=GNW
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