Aviation IoT Market Size, Share & Trends Analysis Report By End-use (Airline Operators, Airport), By Component (Hardware, Service), By Application (Aircraft Operations, Asset Management), By Region, And Segment Forecasts, 2023 - 2030

Aviation IoT Market Size, Share & Trends Analysis Report By End-use (Airline Operators, Airport), By Component (Hardware, Service), By Application (Aircraft Operations, Asset Management), By Region, And Segment Forecasts, 2023 - 2030

Aviation IoT Market Growth & Trends

The global aviation IoT market size is expected to reach USD 36.20 billion by 2030, growing at a CAGR of 23.3% from 2023 to 2030, according to a new study by Grand View Research, Inc. The market growth is attributed to the adoption of automated and intelligent technologies & systems in the aviation industry for applications, such as baggage management, smart maps, aircraft safety, and more. Furthermore, the penetration of Internet-of-Things (IoT) devices into these applications of the aviation industry assist in decision-making and improving overall operations. The aviation industry is continuously adopting a digital ecosystem and is subsequently set to generate large volumes of data.

The large volumes of data collected by IoT sensors on aircraft and airports assist aircraft Maintenance, Repair, And Overhaul (MRO) providers with major aircraft health information for maintenance & repair purposes. In addition, the trend of low-power terrestrial networks in the L-band to support 5G connectivity is expected to further enhance the data transfer capacity, thereby encouraging the deployment of IoT-compatible devices in the aviation industry. The internet-of-things is expected to have a vital role in climate and weather prediction as well as in observing various systems of aircraft in real-time.

The demand for IoT in aviation is expected to increase further due to its growing uses in the aviation industry such as maintaining climate control in the cabin, aircraft maintenance, managing air traffic, and more. IoT in aviation is anticipated to have a growing role in assisting air traffic control personnel, pilots, and airport staff with flying operations, and passenger management, among other applications. In addition, deploying IoT sensors and devices inside the aircraft can help in monitoring engine performance and subsequently reducing fuel consumption and improving the profit margins.

Aviation IoT Market Report Highlights

• The asset management application segment accounted for the largest market share in 2022 as a result of the growing aircraft fleets and other assets, such as engine parts, unit load devices, and more, that require regular management for operational purposes
• The airport end-use segment recorded the largest market share in 2022 due to the growing development of smart airports around the world
• The hardware component segment accounted for the largest share in 2022 as a result of a large number of IoT devices and sensors installed on aircraft and airports to assist pilots and air traffic control staff
• North America accounted for the largest market share of around 35% in 2022 as a result of high technological penetration in airports and a large number of domestic flights and aircraft manufacturers in the region

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