North America Aviation Analytics Market Size, Share & Industry Trends Analysis Report By Business Function, By End User (Airlines, Airports, and Others), By Component (Services and Software), By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Aviation Analytics Market would witness market growth of 10.9% CAGR during the forecast period (2022-2028).
The sector benefits from data analytics by better understanding client preferences and other maintenance difficulties. For example, monitoring ticket sales enables the sector to target clients with individualized offers while utilizing predictive analysis techniques to optimize the price in real time. As a consequence, airlines can obtain more bookings within the specified timeframe by obtaining useful data.
Consideration should be given to revenue management strategies based on the notion that understand better a product's value constantly, and that their willingness to pay for it varies depending on the target market to which they belong and the time of purchase.
In order to maintain the airline both competitive and customer-friendly, revenue management experts effectively employ AI to identify destinations, change rates for particular markets, find effective distribution channels, and monitor seats. The application of sophisticated data analytics will help travelers avoid many baggage tracking problems. Although radio-frequency identification helps to avoid damaging luggage, predictive analysis helps to increase fleet reliability predictability.
The U.S.-Canada Bilateral Aviation Safety Agreement (BASA), which makes it simpler for FAA-approved aerospace products to receive Transport Canada airworthiness approval, is just one of several U.S.-Canada agreements that make it simpler for American aerospace companies to conduct business in Canada. This gives the best opportunities for collaboration between the Canadian and American aerospace industries. Owing to the expansion and greater efforts of the countries on airlines, the demand, and growth of the aviation analytics market would expand in the coming years.
The US market dominated the North America Aviation Analytics Market by Country in 2021; thereby, achieving a market value of $1,545.2 million by 2028. The Canada market is experiencing a CAGR of 13.5% during (2022 - 2028). Additionally, The Mexico would showcase a CAGR of 12.5% during (2022 - 2028).
Based on Business Function, the market is segmented into Sales & Marketing, Finance, Maintenance, Repair & Operations, and Supply Chain. Based on End User, the market is segmented into Airlines, Airports, and Others. Based on Component, the market is segmented into Services and Software. Based on Application, the market is segmented into Customer Analytics, Flight Risk Management, Fuel Management, Revenue Management, Inventory Management, and Navigation Services. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Oracle Corporation, IBM Corporation, General Electric (GE) Co., Ramco Systems Limited, Accelya Group (Vista Equity Partners), SAS Institute, Inc., OAG Aviation Worldwide Limited, IGT Solutions Pvt. Ltd. and Mu Sigma, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Business Function
- Sales & Marketing
- Repair & Operations
- Supply Chain
By End User
- Customer Analytics
- Flight Risk Management
- Fuel Management
- Revenue Management
- Inventory Management
- Navigation Services
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- SAP SE
- Oracle Corporation
- IBM Corporation
- General Electric (GE) Co.
- Ramco Systems Limited
- Accelya Group (Vista Equity Partners)
- SAS Institute, Inc.
- OAG Aviation Worldwide Limited
- IGT Solutions Pvt. Ltd.
- Mu Sigma, Inc.
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