Yahoo Finance In-Flight Entertainment & Connectivity Market Size Hit USD 7.68 Billion by 2027 | In-Flight Entertainment & Connectivity Industry Striking Growth in Australia, Germany, United States, and ROW
According to Fortune Business Insights, the Global In-Flight Entertainment & Connectivity Market Size is projected to reach USD 7.68 Billion by 2027, at CAGR of 9.76% during forecast period 2020-2027 | Surging Need to Improve Passenger Travel Experience to Bolster Market Growth
Pune, India, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The global in-flight entertainment & connectivity market is projected to grow at a fast pace during the projected period due to the increasing demand for entertainment and enhanced traveling experience for the passengers. Fortune Business Insights™ publishes this information in a report titled, "In-Flight Entertainment & Connectivity Market, 2020-2027". As per the report, the in-flight entertainment & connectivity market size was USD 5.71 billion in 2019 and is projected to reach USD 7.68 billion by 2027 at a CAGR of 9.76% during the 2020-2027 period.
COVID-19 Impact:
Declined Demand for Travel facilities Amid Pandemic Hampered Market Growth
During the COVID-19 pandemic, the government completely restricted travel and transport activities. Also, the population avoided unnecessary travel during the initial lockdown phase to control the virus spread. These factors hampered the global Market's demand for in-flight entertainment and connectivity. Furthermore, restrictions on manufacturing and production units affected the production rate of various leading companies and hampered the overall business performance during the pandemic period.
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List of Key Players Profiled in the Market Report for In-Flight Entertainment & Connectivity:
Astronics Corporation (U.S.)
Burrana Pty Ltd (Australia)
Collins Aerospace (U.S.)
FDS Avionics Corp. (U.S.)
Global Eagle Entertainment, Inc. (U.S.)
Gogo LLC (U.S.)
Honeywell International Inc (U.S.)
Lufthansa Systems GmbH & Co. KG (Germany)
Panasonic Avionics Corporation (U.S.)
Safran (France)
Sitaonair (Switzerland)
SmartSky Networks, LLC (U.S.)
Thales Group (France)
Viasat, Inc. (U.S.)
Report Scope & Segmentation:
Report Coverage | Details |
Forecast Period | 2020-2027 |
Forecast CAGR | 7.15% |
2027 Value Projection | USD USD 7.68 Billion |
Base Year | 2019 |
Historical Data | 2016-2018 |
No. of Pages | 200 |
Segments Covered | By Aircraft Type, By Type, By Class |
In-Flight Entertainment & Connectivity Market Growth Drivers | Surging Need to Improve Passenger Travel Experience To Bolster Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/in-flight-entertainment-connectivity-market-102519
Russia-Ukraine War Impact:
The current Russia-Ukraine war crisis altered the dynamics of the European defense industry in 2022. Approximately 25 nations planned to support the Ukraine war crisis. These countries provide support in terms of weaponry support, finance, special military operations, and others. The European and NATO countries provide ammunition, ground surveillance radars, firefinder weapons, and other systems into western Ukraine via Poland. Thus, a rise in demand for military antennas has been observed in recent times. These factors are expected to surge the product demand for the satellite communication and defense sector.
Segments:
Rising Adoption of SATCOM Technology to Dominate IFE Content Segmental Growth
By type, the market is divided into IFE hardware, IFE connectivity, and IFE content. These segments are further categorized into sub-segments: portable IFE systems, non-portable IFE systems, wired connectivity, and wireless connectivity. IFE content segment is expected to register the highest growth rate due to the rising adoption of SATCOM technology.
Increasing Installation of Premium Economy Class Seats by Low-cost Airlines to Bolster Segment Growth
Based on class, the market is segmented into first class, business class, premium economy class, and economy class. The premium economy class segment is expected to lead the market in the coming years due to low-cost airlines' increasing installation of these seats.
Narrow-body Aircraft Segment to Lead the Market During the Forecast Period
On the basis of aircraft type, the market is segregated into narrow-body, wide-body, business jets, and regional aircraft. The narrow-body aircraft segment leads the market due to rising demand from airlines to provide domestic and international air travel services.
OEM Segment to Dominate Market by Developing Advanced Seat Structures
According to the end-users, the market is bifurcated into OEM and aftermarket. Development of advanced seat structures integrated with advanced IFE systems to bolster OEM segment growth during the projected period.
Geographically, the market share is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and the rest of the world.
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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
TOC Continued…!
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Drivers & Restraints:
Surging Need to Improve Passenger Travel Experience To Bolster Market Growth
The Market is expected to grow significantly during the projected period due to the growing need to improve passengers’ in-flight experience. Also, the increasing focus on maintenance of in-flight entertainment & connectivity equipment is expected to drive the Market in the coming years. These factors are expected to ensure in-flight entertainment & connectivity market growth during the forecast period.
However, complex IFEC system design architecture may hamper market growth.
Regional Insights:
North America Holds Highest Market Share Due to Increasing Demand for Electric Jets
North America dominates the global in-flight entertainment & connectivity market share due to the increasing demand for electric and long-range business jets. The regional market stood at USD 2.10 billion in 2019.
Competitive Landscape:
High Investments in R&D Allow Companies to Introduce New Products
The key market players focus on implementing various business growth strategies. The leading companies consider forming strategic alliances, mergers, partnerships, and collaborations to expand their business globally. Furthermore, investing in technological advancements to launch new services allow companies to propel growth.
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Key Industry Developments:
February 2021: Astronics Corporation announced that it had received approximately USD 11 million contract from Collins Aerospace for business jet connectivity equipment. The company’s connectivity hardware equipment is expected to help Collins Aerospace provide high-speed world-wide connectivity that enables a broad variety of remote conferencing services and streaming entertainment services to passengers.
June 2021: Inflight Dublin announced that it provides its wireless in-flight entertainment solution, Everhub, to Sunclass Airlines’ A321 aircraft. The company also offers in-flight entertainment (IFE) content, including TV shows, boxsets, Hollywood movies, music, and publications to Sunclass Airlines’ A330 fleet.
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