owned this note
owned this note
Linked with GitHub
In-Flight Entertainment & Connectivity Market
Trends, Share, Size, Revenue, CAGR Status, Growth Opportunities and Forecast 2027
The global in-flight entertainment & connectivity market size is expected to showcase an exponential growth by reaching USD 7.68 billion by 2027 while exhibiting a CAGR of 9.76% between 2020 and 2027. The growth is attributed to the growing adoption of advanced SATCOM technology and the increasing demand for technologically advanced 5G technology that is likely to drive the manufacturers to develop innovative in-flight entertainment & connectivity solutions globally. Fortune Business Insights, published this information in its latest report, titled, “In-Flight Entertainment & Connectivity Market Size, Share & COVID-19 Impact Analysis, By Type (IFE Hardware (Portable IFE System, and Non-Portable IFE System), IFE Connectivity (Wired Connectivity, and Wireless Connectivity), and IFE Content), By Class (First Class, Business Class, Premium Economy Class, and Economy Class), By Aircraft Type (Narrow Body, Wide Body, Business Jets, and Regional Aircraft), By End-User (OEM and Aftermarket), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 5.71 billion in 2019 and is projected to experience substantial growth in the forthcoming years.
IFE Hardware Segment Held 54.00% Market Share in 2019
The IFE hardware segment, based on type, held a market share of about 54.00% in 2019 and is expected to showcase significant growth owing to the rising number of aircraft deliveries that propel the demand for advanced IFEC hardware components globally.
Brouse for more details:
Increasing Adoption of Advanced SATCOM Technology to Augment Growth
The growing demand for leisure travelling is propelling the manufacturers to install advanced SATCOM technology to improve the in-flight experience of the passengers. This technology is capable of providing seamless connectivity at any given latitude. Owing to their high-reliability to provide advanced in-flight entertainment & connectivity solutions, SATCOM antennas are extensively adopted by several airline operators. Additionally, the increasing demand for advanced technologies such as 5G to provide faster and non-stop entertainment solutions is likely to contribute to the global in-flight entertainment & connectivity market growth during the forecast period.
Presence of Established Companies in North America to Lead to Development of Infotainment Services
Among all the regions, North America stood at USD 2.70 billion in 2019 and is projected to hold the highest position in the global in-flight entertainment & connectivity market during the forecast period. This is attributable to the presence of established players such as Collins Aerospace, Gogo LLC, and Panasonic Avionics Corporation that are focusing on developing advanced in-flight entertainment & connectivity solutions in the region.
On the other hand, Europe is expected to hold the second position in the market owing to the increasing adoption of upgradation of in-flight entertainment & connectivity services in the region between 2020 and 2027.
Prominent Companies Focus on Product Innovation to Amplify Their Market Positions
The global in-flight entertainment & connectivity market is consolidated by the presence of key players that are focusing on developing innovative in-flight entertainment & connectivity products to maintain their stronghold. Additionally, adoption of strategies such as merger and acquisition, facility expansion, and partnership by the major companies is expected to contribute to the market growth.