This study analyzes key players in the Artificial Intelligence in Aviation market with a focus on firms such as Intel (US), NVIDIA (US), IBM (US), Micron (US), Samsung (South Korea), Xilinx (US), Amazon (US), Microsoft (US), Airbus (France), Boeing (US), General Electric (US), Thales (France), Lockheed Martin (US), and Garmin (US).
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AI in aviation market is expected to be valued at USD 152.4 million in 2018 and is likely to reach USD 2,222.5 million by 2025, at a CAGR of 46.65% during the forecast period. The major factors driving the growth of the AI in aviation market include the use of big data in the aerospace industry, significant increase in capital investments by aviation companies, and rising adoption of cloud-based applications and services in the aviation industry.
However, limited number of experts in AI is restraining the growth of the AI in aviation market.
- Semiconductor companies
- Technology providers
- Universities and research organizations
- System integrators
- AI solution providers
- AI platform providers
- Cloud service providers
- AI system providers
- Investors and venture capitalists
China and Japan are the major contributors to the growth of the AI in aviation market in APAC.
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The increasing adoption of machine learning and NLP technologies for virtual assistance and training applications in the aviation sector is supporting the growth of the AI in aviation market in this region. There is a huge demand for AI technologies from these countries to increase the efficiency of their aviation sector.
For example, the Alibaba Group Holding Limited (China) has announced to provide AI-based solutions to avoid congestion at the Beijing Airport.
These solutions would help pilots find parking slot for their aircraft easily. In addition, the increasing adoption of machine learning and NLP technologies for virtual assistance and training applications in the aviation sector is driving the growth of the market in APAC.
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AI-based virtual assistants help airline companies improve the productivity and efficiency of their pilots by reducing their recurring works, such as changing radio channels, reading wind forecasts, and providing position information on request, among others. These recurring jobs are taken care by AI-enabled virtual assistants.
Companies such as Garmin (US) offer AI-enabled audio panels, which are useful for pilots. Virtual assistants are also used by airline companies to improve customer services.
AI-enabled virtual assistance can provide instant answers to simple questions (on flight status or services/offerings (audio, video, Wi-Fi) on flights) of customers, while customer representatives can attend to more important issues.
2 Key Players in the AI in Aviation Market
3 Product Launches
6 Expansions & Investments
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- The AI in aviation market, by offering, covers hardware, software, and services
- The AI in aviation market, by technology, covers machine learning, natural language processing, context awareness computing, and computer vision
- The AI in aviation market, by application, covers virtual assistants, smart maintenance, manufacturing, training, surveillance, flight operations, dynamic pricing, and others
- The geographic analysis has been done with regard to North America, Europe, APAC, and RoW
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