Artificial Intelligence In Aviation Market - Forecast (2024 - 2030)
The Artificial Intelligence In Aviation Market size is estimated to reach $4.8 billion by 2027, growing at a CAGR of 40.5% during the forecast period 2022-2027. The growth is attributed to the growing adoption of pattern recognition, auto-scheduling, targeted advertising and customer feedback analysis for better flight experience, increasing use of artificial intelligence for quick and hassle-free check-in and so on. Implementation of AI &?machine learning technologies in the aerospace sector reduces various safety issues and assists airport customers. Artificial intelligence (AI) technologies such as computer vision and natural language processing aid in customer service, smart maintenance,?pilot training, and threat detection. Growing automation of various aspects of the aviation industry aids in the efficient operation of general systems and?increases?customer satisfaction. During irregular operations,?virtual assistants coordinate travel adjustments and enable rebooking &?re-planning. Additionally, increasing use of passenger identification & auto screening technologies in the airports and rising adoption of computer vision at airports for monitoring complex ground servicing activities, and detect safety issues in real-time. These factors are set to transform the Artificial Intelligence In Aviation industry outlook in the coming time.?
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Artificial Intelligence In Aviation Report Coverage
The “Artificial Intelligence In Aviation Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Artificial Intelligence In Aviation Market.
By Technology: Natural Language Processing, Machine Learning, Computer Vision, Context Awareness Computing and Others.
By Offering: Software, Hardware and Services (Integration & Deployment, Support & Maintenance).
By Application: Smart Maintenance, Manufacturing, Training, Surveillance, Dynamic Pricing, Flight Operation, Virtual Assistants and Others.
By Geography: North America (U.S, Canada, Mexico), Europe (U.K, Germany, France, Italy, Spain, Others), APAC (China, Japan India, South Korea, Australia, Others), South America (Brazil, Argentina, Others), RoW (Middle East, Africa).
Key Takeaways
Machine learning technology for Artificial Intelligence in the Aviation market is analyzed to grow at the fastest rate during the forecast period 2022-2027, attributed to the growing adoption of machine learning techniques to solve aviation operational problems, increasing utilization of big data in analysis and forecasting to increase efficiency and so on.
Artificial Intelligence In Aviation Market Report Analysis - by Technology
Machine learning technology for Artificial Intelligence In the Aviation market is analyzed to grow at the fastest rate of 42% during the forecast period 2022-2027, owing to the growing adoption of machine learning techniques to solve problems in aviation operations, increasing utilization of big data for analysis and forecasting to increase efficiency and so on. In June 2022, Hamad International Airport launched an innovative Digital Twin initiative, as a part of its smart airport program. Under this, machine learning tools were leveraged in order to analyze data from multiple airport systems, while providing smart suggestions to?achieve greater efficiency and ensuring a real-time view of the airport through a user-friendly 3D interface. The system manages aircraft stand conflicts,?effective alert response?and monitors the health of critical airport assets. Furthermore, the increasing utilization of artificial intelligence (AI) for air traffic control, as well as the rising implementation of AI technology to predict potential maintenance failures on aircraft is boosting the growth of machine learning technology for Artificial Intelligence In the Aviation industry over time.
Artificial Intelligence In Aviation Market Report Analysis - by Application
Artificial Intelligence In Aviation market for Virtual Assistants application is analyzed to grow with the highest CAGR of 41.5% during 2022-2027, attributed to growing trends towards customized customer care services, growing adoption of chatbots and voice bots for better customer interaction and so on. Additionally, the growing adoption of chat platforms for booking/cancellation?&?personalizing travel offers based on client inputs along with the growing use of smart virtual assistants to address customer queries are accelerating the implementation of virtual assistants in the aviation industry. Conversational virtual assistants aid in the quick and efficient booking process by seamlessly transferring complex queries to a human agent and ensuring that the information is appropriately transferred to the user. In December 2020, United Airlines launched Virtual Airport Assistance at US Hubs to provide travelers with contactless access to customer service at the hub airports. Additionally, virtual assistance provides the Agent on Demand facility that?can be used by the customers?via QR code and offers a number of communication options. Such factors are analyzed to?transform global Artificial Intelligence In the Aviation industry outlook for virtual assistants.
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Artificial Intelligence In Aviation Market Report Analysis - by Geography
North America dominated the global Artificial Intelligence In Aviation market with a share of 38% in 2021, attributed to increasing application of IoT, big data?& factory automation technologies, growing utilization of?data analytics in the aerospace industry, growing trend toward cloud-based applications &?services in the aviation industry?and so on. In August 2021, US Airport implements artificial intelligence remote security technology to secure airport perimeters and provide increased security to?the airport authorities. The airport authority aimed to deploy six ROSA180 units to detect as well as deter trespassers and unauthorized intruders into parking garages and other secure areas. Furthermore, deployment of advanced technologies such as baggage screening, passenger identification and maintenance, customer support, facial recognition?and aircraft fuel optimization increases the demand for?AI in the aviation industry. These factors are set to transform Artificial Intelligence in Aviation industry outlook within North American markets.?
Artificial Intelligence In Aviation Market Drivers
Growing Application of Artificial Intelligence for Faster Check-in and Baggage Screening Process is Accelerating the Growth of Artificial Intelligence In Aviation Market:
The increasing use of artificial intelligence for faster check-in and baggage screening is boosting?the growth of artificial intelligence in the aviation market. During airport check-ins, intrusion detection technologies are being widely?used as Artificial intelligence systems for actively distinguishing between luggage and humans. The adoption of AI-based systems helps in alerting airport authorities about incidents of unauthorized access or check-ins. Airport security can be increased with the integration of CCTV-AI systems, and machine-learning models. A sophisticated artificial intelligence-powered device can detect prohibited items in x-ray images and display alerts on the screen. In January 2020, the Airport Authority of India (AAI) introduced an artificial intelligence-based solution, Baggage AI at 8 airports across India. An artificial intelligence-powered system is designed to enhance airport security. It uses threat detection systems, computer vision and security x-ray machines. This AI software technology can automatically detect various objects at airports and send notifications to the security system.?According to a Forbes report published in 2020, the Department of Homeland Security plans to dramatically expand its Biometric Exit program within four years to cover 97%?of outbound air passengers. It further states that the AI system has already been installed in 15 airports across the US. Over 15,000 flights have been tested by the system and over 7,000 travelers who have overstayed their visas have been identified. Such factors will help in transforming?Artificial Intelligence In the Aviation market size by the coming time.
Increasing Adoption of Chat Platforms & Customer Interaction Systems for Personalizing?Travel Experiences is Boosting the Demand for Artificial Intelligence In Aviation Market:
The growing adoption of chat platforms and customer interaction systems for customized travel experiences act as a major driver boosting the growth of Artificial intelligence in the aviation market. AI-powered chatbots help airlines in?increasing?pilot?productivity and efficiency by automating repetitive tasks such as changing radio channels, reading wind forecasts?and providing position information on demand. AI-powered virtual assistance can help address queries?such as flight status or onboard services/offers in real time. These AI-powered platforms help passengers in?booking?and planning?trips. In May 2020,?Louisville Muhammad Ali International Airport (SDF) launched its Virtual Information Booth. It connects travelers with a volunteer Airport Ambassador in a distant area via live video feed. Passengers can communicate with customer service representatives in real-time using a touch-free tablet located in?a physical information booth. Airlines and airports are attempting to diversify their offerings by leveraging advanced technologies such as e-commerce. According to a report published by Future Travel Experience in 2020, AirAsia is testing new business models and the airline has expanded its offering to create a unified e-commerce platform powered by AI technology and data analytics. The airline also revealed its plans to increase non-flight, non-aviation-related earnings?to 50% by the year 2024. These factors can be considered vital in expanding the Artificial Intelligence In Aviation market size in the long run.?
Artificial Intelligence In Aviation Market Challenge
High Cost of AI Technologies Coupled with Implementation Complexities are Restraining the Growth of Artificial Intelligence In Aviation Market:
High prices of AI technologies?combined with the complexity of implementation?are limiting the growth of artificial intelligence in the aviation market. AI technology has certain limitations including the fact that it takes a longer time to implement and cannot be used as an ideal customer service tool. Failure of the AI technologies like Maneuvering Characteristics Augmentation System (MCAC) can result in fatal accidents. According to a 2020 Packtpub report, an Ethiopian Airlines plane crashed in 2019. The fatal accident was caused by false alarms and incorrect information coordinated by the MCAC system regarding the problem in flight control. The report further revealed that the deployment of a chatbot system in an airline company can cost up to $15,000. These high-cost results in limited adoption of these technologies in small businesses, which potentially creates a barrier between small and large airlines. High cost coupled with implementation complexities possessed by AI technologies is limiting their application in various airlines, thereby hampering the growth of Artificial Intelligence In the Aviation industry.
Artificial Intelligence In Aviation Industry Outlook
Product launches, acquisitions and R&D activities are key strategies adopted by players in the Artificial Intelligence In Aviation Market. The top 10 companies in the Artificial Intelligence In Aviation market are:
Recent Developments
In July 2022, Microsoft launched a complete platform for accelerating autonomous flight, named the?Project AirSim. Project AirSim,?a Microsoft Azure platform that?builds,?trains?and tests autonomous aircraft using high-fidelity simulation. It uses the?computing power of the system to generate massive amounts of data for training AI models.
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