Global Artificial Intelligence in Aviation Market
Global Artificial Intelligence in Aviation Market was valued US$ 109.4 Million in 2017 and is expected to reach US$ 3359.05 Million by 2026, at a CAGR of 46.3% in the forecast period.Artificial Intelligence in Aviation Market Artificial Intelligence in Aviation Market has been segmented on the basis of technology, offering, application, and geography. Based on offering market is split into Hardware & Software. Technology is divided into Natural Language Processing (NLP), Context, Awareness Computing, Machine Learning, and Computer Vision. Application of the market is Flight Operations, Smart Maintenance, Training, Virtual Assistants, Surveillance, Dynamic Pricing, and Manufacturing. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Artificial intelligence in aviation sort the information and provide the pilot with the best possible options for operation, which is impossible for human being to perform. It is an ability of a machine to gather the information to analyze, process and to respond in a directed way. Some of the market drivers included and analyzed in detail for decision makers reference include - Increasing adoption of machine learning and NLP technologies for virtual assistance, training applications in the aviation sector, increase in the investments by aviation companies and PE investors, rising adoption of cloud-based applications in Artificial Intelligence in Aviation Market It is also been found that limited numbers of experts in AI industry are restricting the growth of the Artificial Intelligence in Aviation Market.
Based on the Offering, Software segment held the largest share of the overall Artificial Intelligence in Aviation Market in offering segment in 2017 thanks to the developments in AI software for applications such as surveillance, flight operations, and airport operations.
On the basis of Application, Virtual assistants are expected to hold the largest share of the Artificial Intelligence in Aviation Market throughout the forecast period. AI-based virtual assistants help airline companies to improve their productivity and increase the efficiency of pilots by reducing recurring works, such as changing radio channels, reading wind forecasts, and providing position information on requests. These recurring jobs are taken care of by the AI-enabled virtual assistants.
In terms of Geography, North America is expected to hold the largest share in Aviation Market in the forecast period, owing to an increased adoption in applications such as Virtual assistance, smart maintenance, manufacturing, and surveillance. Continuous growth in the number of air travellers is also demanding airline companies to adopt AI in their daily operations to enhance their efficiency.
Key players operate on the market are, Intel, Nvidia, Xilinx, Micron, Samsung Electronics, IBM, Microsoft, Airbus, Amazon, Boeing, GE, Thales, Lockheed Martin, Garmin.
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Scope of Global Artificial Intelligence in Aviation Market Analytics
Global Artificial Intelligence in Aviation Market by Offering:
Global Artificial Intelligence in Aviation Market by Technology:
• Natural Language Processing (NLP)
• Context Awareness Computing
• Machine Learning
• Computer Vision
Global Artificial Intelligence in Aviation Market by Application:
• Flight Operations
• Smart Maintenance
• Virtual Assistants
• Dynamic Pricing
Global Artificial Intelligence in Aviation Market by Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players operating in Global Artificial Intelligence in Aviation Market:
• Samsung Electronics
• Lockheed Martin
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