The global In-flight Entertainment & Connectivity Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global in-flight entertainment & connectivity market is projected to reach USD 13.6 billion by 2028, according to Million Insights. The market is expected to grow with a 9.5% CAGR above the forecast period, from 2020 to 2028. The rising demand for seamless connectivity among passengers is one of the major factors to drive market growth. In addition, the growing number of non-stop long-haul flights across the globe is projected to have a positive impact on market growth.
Key Players:
- BAE Systems
- Cobham plc.
- Collins Aerospace
- Eutelsat Communications
- Global Eagle Entertainment Inc.
- Gogo LLC
- Honeywell International Inc.
- Inmarsat plc.
- Iridium Communications Inc.
- Panasonic Corporation
- Safran (Zodiac Aerospace SA)
Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/in-flight-entertainment-connectivity-ifec-market/request-sample
Impact of COVID-19:
Due to rapid spread of COVID-19, governments across several countries have imposed travel restrictions, thereby it has a negative impact on in-flight entertainment and connectivity market growth. In the U.S., several states are on complete lockdown which has restricted domestic and international flights. In addition, countries like France, Spain, Italy, and India are completely restricted to domestic and international flights. This scenario has witnessed an adverse impact on market growth.
Post lockdown, several countries such as US, UK, France, Germany, and others have started their airlines which are projected to witness a positive impact on market growth. Moreover, leading players are engaged in launching innovative in-flight entertainment & connectivity systems. For instance, on 10 August 2020, SpiceJet launched in-flight entertainment system with the name SpiceSrceen that can be accessed on any passenger’s personal devices. SpceScreen enables seamless content delivery on passenger personal devices.
Growth Drivers:
IFEC capabilities are gaining traction due to advanced features with wireless connectivity offered to passengers. These capabilities are expected to offer various growth opportunities to airlines. The airlines are striving to change their IFC service providers to get the technologically advanced performance and provide a pleasant experience to the passengers. The above-mentioned factors are encouraging the market players to implement some marketing strategies such as collaborations and partnerships to sustain in competitive market and to expand their geographical presence. .
The aviation sector is highly competitive, owing to this factor the key players are under constant pressure to innovate and come up with new services that will help in the overall onboard services and solutions to the passengers. IFEC plays an important role in the transition of the aviation sector, as traditional seatback screens offer limited entertainment content whereas IFEC offers a personalized model to cater to the passenger demand or needs. In addition, advancement in connectivity, real-time data access, and seat designs are other major factors that are estimated to have a positive impact on market growth. The majority of market players are emphasizing on improving the content delivery services. These are some of the key factors driving the market growth.
Regional Outlook:
In 2019, North America accounted for the largest market share in terms of revenue. This region is an early adopter of in-flight entertainment and connectivity systems, higher adoption of these systems is expected to hold the largest market share in this region. The major airlines in this region such as United Airlines, Inc. and Delta Air Lines, Inc. are striving to offer a unique experience to passengers by offering tablets onboard and premium content through wireless connectivity. In addition, the increasing trend of BYOD is projected to allow airlines to reduce the need for fixing back-seat screens, thereby helps to reduce flight weight.
Asia Pacific is projected to grow with the fastest CAGR of around 13.0% over the forecast period. The key factor surging the regional market growth is growing passenger traffic which has resulted in the growing demand for aircraft incorporated with seamless connectivity and next-generation entertainment technologies.
Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
No comments:
Post a Comment