5G in Aviation Market Report by Technology, Industry Share and Size Expansion to 2026 | Fortune Business Insights™
The global ''5G in aviation industry'' size is projected to reach USD 4.2 billion,
surging at a CAGR of 53.46% during the forecast period. Increasing need to
replace 4G LTE with 5G technology in aviation is foreseen to be one of the
central factors driving the growth of this market. Aviation industry is
expanding at breakneck speed and 5G technology is slated to play a crucial role
in charting its development. Introduction of 5G in this industry is aimed at
establishing a robust connectivity infrastructure that would facilitate
seamless communication between aircraft and their ground control systems.
Moreover, high-speed internet on planes would enable people to conduct business
activities whilst they are flying, saving them precious time and energy. More
importantly, 5G will be instrumental in strengthening the integration of
Internet of Things (IoT) technology in the aviation domain, a feat that would be
difficult to attain with 4G LTE. This would greatly augment the 5G in aviation
market growth till 2026.
According to a new report published by
Fortune Business Insights, titled “Global 5G in Aviation Market Size,
Share & Industry Analysis, By Platform (5G Airport and
5G Aircraft), Technology (FWA, URLLC/MMTC, and eMBB), Communication
Infrastructure (Small Cell, Radio Access Network (RAN) and Distributed Antenna
Systems (DAS)), 5G Services (Airport Operations, and Aircraft Operations), and
Regional Forecast, 2019-2026”, the market value stood at USD 0.2
billion in 2019. The report shares profound insights into the various drivers,
dynamics, and other factors that will shape the development of this market
during the forecast period. Besides this, the report also provides an
elaborative overview of the overall industry outlook that will also influence
the market. Lastly, the research contained in the report will aid businesses to
take important strategic decisions in a well-informed manner.
Here's a list of the
leading 5G in Aviation manufacturers operating in the global market:
- ONEWEB
- Global Eagle Entertainment
- Smartsky Networks
- Huawei
- Aeromobile Communications
- Gogo
- Inseego Corp.
- Nokia Corporation
- Cisco Systems
- Panasonic Avionics Corporation
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Study Period:
2016-2027
Base Year: 2019
Forecast Period: 2020-2027
Historical Period: 2016-2018
Rising Utility of 5G
Technology in Aviation to Boost Growth Prospects
Increasing demand for 5G connectivity
in flying operations is expected to be one of the leading 5G in aviation market
trends. This is because 5G can be utilized in a wide range of applications. For
instance, 5G technology can prove to be critical in drone operations as
high-speed connectivity can provide crucial real-time data for any kind of
military activity. Furthermore, 5G in aviation can elevate the safety and
security quotient of airplanes as pilots will able to communicate swiftly with
air control towers in times of distress. One of the most important benefits of
aviation 5G is real-time aircraft health monitoring, which can be accomplished
through predictive maintenance tools and techniques. These benefits are likely
to accelerate the 5G in aviation market revenue in the near future.
North America to Lead
the Pack; Asia-Pacific to Follow
With a revenue generation of USD 0.9
billion in 2019, North America is poised to dominate the 5G in aviation market
share during the forecast period. The main forces propelling the market in the
region include rising demand for better in-flight experience, increasing air
travel, and a thriving aviation industry. Development of small regional
airports and growing investments by in-flight entertainment service providers
such as GoGo in 5G will also play a pivotal role in driving the market in North
America.
In Asia-Pacific, rapid expansion of
aviation infrastructure and increasing adoption of 5G technology in aviation,
especially in China, will be the two key factors driving the growth in this
region. China would be one of the early movers for adopting 5G technologies at
airports. Moreover, Japan, Australia, and South Korea are doubling down
their investment in developing 5G infrastructure, which will augur well for the
market in Asia-Pacific.
5G in Aviation Market
report Focus on:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this
Report:
- Comprehensive analysis of the market growth
drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product
launches, agreements, mergers and acquisitions, geographical expansions,
and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present
in the market to aid organizations in strategic business planning.
Key Questions
Answered:
- Why Choose Fortune Business Insights?
- What are the key demands and trends shaping
the market?
- What are the key opportunities in the market?
- What are the key companies operating in the
market?
- Which company accounted for the highest market
share?
- What is the market size and growth rate of the
global and regional market by various segments?
- What is the market size and growth rate of the
market for selective countries?
- Which region or sub-segment is expected to
drive the market in the forecast period?
- What Factors are estimated to drive and
restrain the market growth?
Prudent Partnerships
to Stimulate Competition
The 5G in aviation market forecast by
Fortune Business Insights paints a dynamic picture of the competition in this
market owing to increasing strategic collaborations between competitors. Such
collaborations are aimed at consolidating the players’ hold on the market
through broadening of their service offerings.
Key Industry
Developments:
- October 2019: Gogo joined hands with Airspan Networks to
develop a novel air-to-ground (ATG) 5G network. It will be designed for
business aviation aircraft, small mainline jets, and commercial regional
jets shuttling along the US-Canada border areas.
- September 2019: Vodafone installed its 5G network at London’s
Gatwick Airport. This is part of Gatwick Airport’s five-year digital
transformation program, which will make Gatwick one of the first smart
airports in the whole of UK.
Browse Complete
Summary of research: https://www.fortunebusinessinsights.com/industry-reports/5g-in-aviation-market-101778
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