Northbrook, IL 60062 -- (SBWire) -- 12/18/2023 --The Connected Aircraft Market size is projected to grow from USD 10.0 Billion in 2023 to USD 16.5 Billion by 2028, at a CAGR of 10.6% from 2023 to 2028. Connected Aircraft Systems allow for considerably enhanced operational efficiency of an aircraft along with enhancing passenger experience. The emergence of IoT and Industry 4.0 technologies considerably aid the connected aircraft ecosystem. These factors are driving growth in the market.

Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=263508082

Software Segment to lead market share during the forecast period.

Based on type, the Connected Aircraft Market has been segmented into hardware and software. The software solutions segment is expected to hold a larger market share as well as grow at a higher CAGR during the forecast period. The connected Aircraft market is a software-heavy ecosystem where end users are frequently required to upgrade their software and pay for yearly subscriptions. These factors are the major factors driving the growth in the market.

Advanced air mobility is expected to grow the highest during the forecast period.

Based on the platform, the Advanced air mobility (AAM) segment is expected to grow the highest during the forecast period. AAM is a niche market that is gaining immense market potential in the coming decade. AAM platforms are installed with some of the state of technologies to aid aircraft operations. The high growth of the AAM market clubbed with the need for high-end software and hardware driving the market growth.

The in-flight connectivity segment is expected to lead the market during the forecast period.

Based on connectivity, the in-flight connectivity segment is expected to have a larger market share as well as have a high CAGR during the forecast period. Enhancing in-flight connectivity to enhance passenger experience as well as crew connectivity is one of the major factor's airliners are investing in. High-speed connectivity has become the need for passengers as well as to ensure seamless connectivity across the aircraft. These factors are driving the growth in the market.

North America is projected to witness the highest market share during the forecast period.

North America leads the Connected Aircraft Market due presence of key players, solution providers, and component manufacturers, which are major factors expected to boost the growth of the Connected Aircraft Market in the region. These players invest in extensive R&D to develop IoT systems and advanced sensor solutions along with seamless connectivity and advanced processing software. Major manufacturers and suppliers of Connected Aircraft Solutions in this region include Honeywell International (US), Raytheon Technologies (US), Viasat Inc (US), and Gogo Inc (US).

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=263508082

Key Market Players

Major players operating in the Connected Aircraft Market include Honeywell International (US), Raytheon Technologies (US), Thales Group (France), Viasat Inc (US), and Gogo Inc (US).