Artificial Intelligence in Aviation Market Size - By Technology (Machine Learning, Context Awareness Computing, Natural Language Processing, Computer Vision), By Application (Virtual Assistance, Smart maintenance, Manufacturing, Training), Offering & Global Forecast, 2023 – 2032
Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAI in Aviation Market Size
The size of the AI in aviation market was USD 686.4 million in 2022 and is expected to witness a CAGR of more than 20% during the forecast period of 2023-2032. AI has the capability to process large amounts of data to detect potential safety hazards, forecast equipment failure, and aid in preventive maintenance, thus improving overall safety in aviation operations.
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For example, Searidge Technologies' DATMS (Digital Airport Traffic Management System) applies AI to drive traffic control at airports automatically, minimizing the chances of human error. The system tracks aircraft and ground vehicles using radar and video cameras and can automatically turn traffic lights on or off depending on the situation, thereby minimizing tarmac incidents at airports that utilize DATMS.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| AI in Aviation Market Size in 2022 | USD 686.4 Million |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 20.5% |
| 2032 Value Projection | USD 4.04 Billion |
| Historical Data for | 2018 – 2022 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 278 |
| Segments covered | Offering, Technology, Application |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Manufacturers across the globe are concentrating on creating AI-powered autonomous drones and aircraft for particular purposes, like cargo transport or monitoring, driving AI in aviation market revenue. Referring to an example, on January 2023, Aurora Flight Sciences successfully conducted the maiden test flight of an all-electric autonomous passenger aircraft, eFanX. It is a fixed-wing plane that can accommodate six passengers, is propelled by two electric motors, and has a range of up to 200 miles.
Nevertheless, the air transport sector is subject to rigorous regulation for security purposes, and the use of AI systems also generates concerns about their reliability, responsibility, and capacity to take major decisions. Guaranteeing the compliance of AI systems with rigorous security standards and achieving regulatory permits may be a time-consuming and difficult process, slowing down their mass adoption. In addition, deploying AI technologies entails huge investment in infrastructure, data gathering, software development, and employee training. Numerous aviation firms, especially smaller firms, might encounter difficulties in finding resources to integrate AI, hence hindering its general adoption.
COVID-19 Impact
The COVID-19 pandemic greatly affected the AI in aviation market. The pandemic led to travel bans, decreased air traffic, and economic constraints among airlines, thus causing a lag in technology uptake and research work. For instance, initiatives focusing on AI-based air traffic control and passenger experience improvement were postponed. Airlines' priorities on short-term cost-cutting efforts hampered investments in integrating AI. Still, some niches, including AI-based predictive maintenance, gained traction as airlines looked for ways to effectively handle grounded fleets.
AI in aviation market Trends
The evolution of AI, machine learning, and big data analytics keeps broadening the horizon for enhancing aviation operations and services. AI can process enormous data volumes from aircraft sensors and systems to glean precious information to enhance performance, fuel efficiency, and decision-making.
British Airways applied AI in January 2023 to customize its flight routes and save around 100,000 tons of fuel. The AI system of the airline scanned millions of pieces of data to determine the most optimal flight routes for every route. This came at the cost of a 1% decrease in fuel use, which reduced British Airways' expenses by an estimated USD10 million. By optimizing resource utilization, predictive maintenance, and fuel optimization, AI can help airlines and operators save considerable amounts of money, which will drive the growth of the market.
AI in aviation market Analysis
Find out more about the major segments driving this market
The software segment captured 58% of the AI in aviation market share in 2022, driven by the requirement for improving operational efficiency, safety, and passenger experiences. Aviation companies and airlines look for AI software solutions to streamline flight routes, forecast maintenance requirements, and control air traffic. Moreover, AI-based passenger services like chatbots and personalized suggestions enhance customer satisfaction. The increasing realization of the aviation industry about the potential of AI to solve intricate problems and its capacity to handle enormous amounts of data in real-time further accelerates the need for sophisticated software solutions.
Discover more about the most important segments driving this market
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The machine learning segment held 32% of the AI in aviation market share in 2022, owing to its capacity to process enormous datasets and enhance decision-making. In aviation, machine learning algorithms can support predictive maintenance through the detection of equipment anomalies, air traffic management optimization, and crew scheduling optimization. The adaptability of the technology enables it to learn from past experiences and adjust to changing circumstances, which supports improved aircraft performance, safety improvement, and operational efficiency. With aviation embracing data-driven technologies, machine learning's flexibility and predictive nature render it a beneficial tool in shaping industry innovations.
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The North America AI in aviation market accounted for more than 39% of revenue share in 2022. The technological infrastructure of the region, high focus on innovation, and high investments in research and development will drive industry revenue streams in the region. Moreover, the intricate air traffic management system and the necessity for improved safety measures are fueling the use of AI solutions. The presence of major aviation players and a competitive landscape further accelerates the integration of AI technologies to optimize operations, improve passenger experiences, and address industry challenges effectively.
AI in Aviation Market Share
Major companies operating in the AI in aviation market are
- Samsung Electronics
- Intel
- Xilinx
- Thales
- IBM
- Amazon
- Nvidia
- Microsoft
- Garmin
- Lockheed Martin
- Boeing
- Micron
- Airbus
- General Electric.
These companies are majorly focus on launching new AI in aviation offerings.
AI in Aviation Industry News
- In March 2023, Airbus announced the acquisition of Uptake Technologies, a leading provider of AI-powered predictive maintenance solutions for the industrial sector. The acquisition will give Airbus access to Uptake's technology and expertise in AI-powered predictive maintenance.
This artificial intelligence in aviation market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
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Market, By Offering
- Hardware
- Software
- Services
Market, By Technology
- Machine Learning
- Context Awareness Computing
- Natural Language Processing
- Computer Vision
- Others
Market, By Enterprise Size
- Virtual assistance
- Smart maintenance
- Manufacturing
- Training
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- UAE
- Saudi Arabia
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