Pune, India, Jan. 13, 2021 (GLOBE NEWSWIRE) — 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.
Reduced Number of Flights amid COVID-19 to Restrain Growth
Several countries have imposed a ban on air travel to contain the widespread effects of the novel coronavirus. This has led to a significant decline in revenues witnessed by major aircraft operators. The temporary suspension of operation of flights is expected to restrain the growth of the market to some extent.
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List of Top Companies Operating in the Global In-Flight Entertainment & Connectivity Market:
- Astronics Corporation (The U.S.)
- Burrana Pty Ltd (Australia)
- Collins Aerospace (The U.S.)
- FDS Avionics Corp. (The U.S.)
- Global Eagle Entertainment, Inc. (The U.S.)
- Gogo LLC (The U.S.)
- Honeywell International Inc (The U.S.)
- Lufthansa Systems GmbH & Co. KG (Germany)
- Panasonic Avionics Corporation (The U.S.)
- Safran (France)
- Sitaonair (Switzerland)
- SmartSky Networks, LLC (The U.S.)
- Thales Group (France)
- Viasat, Inc. (The U.S.)
In-flight entertainment & connectivity services enhance the experience of passengers during air travel. The services include live video streaming, access to internet services, and text messaging. The IFEC devices are generally portable and non-portable that provide a plethora of entertainment services for the passengers.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth. The report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes a competitive landscape that involves the leading companies. It further mentions the strategies adopted by them, such as to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
KEY DRIVING FACTORS
Increasing Adoption of Advanced SATCOM Technology to Augment Growth
The growing demand for leisure traveling 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 entertainment & connectivity solutions in flights, 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.
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SEGMENTATION
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.
REGIONAL INSIGHTS
Presence of Established Companies in North America to Lead to Development of Infotainment Services
Among all the regions, North America stood at USD 2.10 billion in 2019 and is projected to hold the highest position in the global 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 is 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 up-gradation of in-flight entertainment & connectivity services in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
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, the adoption of strategies such as merger and acquisition, facility expansion, and partnership by the major companies is expected to contribute to market growth.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/in-flight-entertainment-connectivity-market-102519
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Qualitative Insights
- Impact of COVID-19 on the In-Flight Entertainment & Connectivity Market
- Steps Taken by the Industry/Government/Companies to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities due to COVID-19 Outbreak
- Global In-Flight Entertainment & Connectivity Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Segmental Definitions
- Market Analysis, Insights and Forecast – By Type
- IFE Hardware
- Portable IFE System
- Non-Portable IFE System
- IFE Connectivity
- Wired Connectivity
- Wireless Connectivity
- IFE Content
- IFE Hardware
- Market Analysis, Insights and Forecast – By Class
- First Class
- Business Class
- Premium Economy Class
- Economy Class
- Market Analysis, Insights and Forecast – By Aircraft Type
- Narrow Body Aircraft
- Wide-Body Aircraft
- Business Jets
- Regional Aircraft
- Market Analysis, Insights and Forecast – By End-User
- OEM
- Aftermarket
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- The Middle East
- Rest of the world
TOC Continued…!
Key Industry Development:
July 2020 – Qingdao Airline’s A320 completed its flying journey equipped with a Ka-band Satcom based IFEC system. The company reports that the high-speed IFEC systems are expected to provide the best-in-class service for its passengers during flights.
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