Global Artificial Intelligence in Aviation Market Size, Share & Trends Analysis Report, By Offering, By Technology, By Application, By Region Forecasts, 2024-2032

Global Artificial Intelligence in Aviation Market Size, Share & Trends Analysis Report, By Offering, By Technology, By Application, By Region Forecasts, 2024-2032

Global Artificial Intelligence in Aviation Market was valued at US $ 65.3 billion in 2023 and is expected to reach US $ 99,85 trillion by 2032 growing at a CAGR of 41.95% during the forecast period 2024 – 2032.

During the forecast period, the worldwide AI aviation market would rise at a significant rate due to the extensive use of big data analytics in the aerospace sector. The aerospace industry's rising investment in cloud service technologies and goods is driving the development of the worldwide AI market for aviation. Airports and the aviation sector are always utilising cutting-edge technologies, like artificial intelligence, to enhance customers' experiences. The drive for greater profitability, rising operating expenses, and the use of artificial intelligence in aviation are a few of these causes. The airline industry has been paying more attention to improving consumer services, with demand fuelled by artificial intelligence, as air travel plays a crucial part in international transportation. AI-enabled chatbots are becoming commonplace when travellers book flights.

Predictive maintenance and air traffic control will soon use AI and machine learning in this. machine learning applied to observational tasks such as time series analysis, computer vision, and natural language processing. But given the dynamics involved, airline operations demand ongoing research and development. Moreover, increased financing will eventually lead to an exponential rise in the use of AI in aircraft operations. Furthermore, Airbus and the Chinese company EHang are collaborating to develop intelligent navigation technology. Airbus and vision-based AI at the start of the take off phase. Therefore, greater use of AI for various purposes within an aviation company promotes the growth of AI globally in the aviation industry.

“Software segment, by offering, to be dominating market from 2023 to 2030.”

The software submarket led the world in aviation AI in 2023. Through significant investments in development and research, the software industry has experienced remarkable growth as a result of the adoption of new AI-oriented software applications in airports, runways, surveillance, and airlines. The aviation industry has access to APIs for speech, sensor data, language, vision, and machine learning techniques, which enable the development of various software applications.

“Machine learning segment, by technology, to be dominating market from 2023 to 2030.”

In 2023, machine learning yielded the most revenue among all the technologies when seen through the lens of the global aviation business. Machine learning systems are being driven by the growing demand for data collecting and the data requirements in international aviation. This technology is significantly more advanced than the traditional flight path trajectory computation algorithms thanks to its present machine learning capabilities.

“Virtual Assistants segment, by application, to be dominating market from 2023 to 2030.”

The application demonstrated in 2021 that the worldwide AI in aviation market was dominated by the virtual assistants segment. Pilates is able to decrease or do away with many of the repetitive tasks that pilots often perform, like changing radio channels, predicting wind patterns, and providing real-time location updates as needed. These tasks are made possible by AI-powered virtual assistants. Consequently, the virtual assistant is widely used since it relieves pilots of tedious duties. Additionally, one of the factors contributing to this increase during the forecast period will be the growing trend in the use of virtual assistants to enhance client support and answer simple questions regarding goods and services like flight updates. Virtual assistants make it easier for travellers to move through airports. Similarly, using virtual assistants at the security point, it helps the passengers by providing them with guidance on security-related matters like safety rules and other safety checking processes, etc.

“North America to be largest region in Artificial Intelligence in Aviation market.”

A growing trend in North American aviation is the shift towards domestically produced RDTs because of the region's high demand for cutting-edge and digital technologies. Given the increased demand for air travel and the number of air travellers, using AI on airports and planes is expected to come with a large investment cost. The rise in international trade leads to an increase in foreign flights within the United States and Canada. Among these technologies are those that incorporate artificial intelligence (AI), which is used in the air traffic control systems that have been implemented in North America. For example, market expansion is supported by the increase in investments made by airlines to use artificial intelligence to improve customer services, lower operating costs, and increase profitability in the North American market.

Artificial Intelligence in Aviation Competitive Landscape

The competitive landscape of the Artificial Intelligence in Aviation market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Artificial Intelligence in Aviation technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Artificial Intelligence in Aviation market is highly competitive, with numerous companies vying for market share. Prominent companies in the Artificial Intelligence in Aviation Market include:

Major Players:

Samsung Electronics, Intel, Xilinx, Thales, IBM, Amazon, Nvidia, Microsoft, Garmin, Lockheed Martin, and others.

Recent developments:

Tata Power and Autogrid signed a contract in July 2021 with the intention of launching a home demand response programme that would increase customer acceptability of demand response.

Boeing and artificial intelligence startup SparkCognition collaborated to develop SkyGrid in June 2020. The goal of SkyGrid is to provide an airborne operating system to facilitate the upcoming unmanned aerial vehicles (UAVs).

In July 2020, with advanced automation, material management, and artificial intelligence and machine learning (AI/ML) features along with several other enhancements and value adds, global software provider Ramco Systems today unveiled version 5.8.9 of its Aviation Suite, intended to help defence, MRO, and airline operators accomplish their digital transformation goals. An end-to-end platform for handling intricate inventory support business models is provided by the release to operators and MROs.