Market Overview:
5G in aviation market industry is projected to grow from USD 0.96 Billion in 2023 to USD 10.41 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 48.64% during the forecast period (2023 - 2030).
The Global 5G in Aviation Industry is projected to be valued at USD 21,200 Million by 2030, registering a CAGR of 52.7% from 2019 to 2030. Growth in the air passenger traffic has significantly contributed to the growth of the 5G in the aviation market. High competition owing to the presence of several players in the market is forcing 5G providers to focus on innovation. Furthermore, the increasing adoption of 5G technology by airports is expected to propel market growth. For example, in January 2019, the Guangzhou Baiyun International Airport in China collaborated with Huawei Technologies Co., Ltd To launch a 5G base station to offer high-speed Internet connectivity to passengers.
However, the high costs associated with the development of 5G infrastructure and issues related to sharing spectrum bands might hamper the 5G in Aviation market insight.
Market USP
Rising investments in connected aircraft and in-flight broadband are boosting the adoption of 5G technology.
Market Segmentation:
Ground-to-ground communication segment to register the higher growth rate: The ground-to-ground communication segment is expected to exhibit a higher CAGR during the forecast period of 2019 to 2030. The rising demand for enhanced communication by airport authorities to reduce the passenger waiting time and offer improved travel experience is expected to drive the growth of the segment.
Small cells to remain a popular choice: The small cells segment is expected to register the higher CAGR during the forecast period of 2019 to 2030. Small cells offer numerous benefits such as easy installation, enhanced signal quality, low latency rates, and low power consumption.
Airport operations segment expected to remain dominant: The airport operations segment led the market in 2018 and is expected to register the higher growth rate during the review period. The development of smart airports and the rising demand for high-speed Internet connectivity for operational efficiency are expected to drive the growth of the segment.
Higher adoption of 5G technology at airports: The airport's segment is expected to exhibit higher CAGR during the review period. The rising adoption of 5G technology at airports in countries such as the UK, China, and the UAE is expected to drive the growth of the segment.
Key Players:
The chief 5G in Aviation key market players are the valuable asset, helping the market enhance its growth rate at the global level. Below listed are the key players of 5G in Aviation Industry.
Honeywell International, Inc. (US),Huawei Technologies Co., Ltd (China),Ericsson (Sweden),Nokia (Finland),Cisco Systems, Inc. (US),Panasonic Avionics Corporation (US),GOGO LLC (US),Global Eagle (US),OneWeb (UK),SmartSky Networks, LLC (US),Sprint Corporation (US),SK Telecom Co., Ltd (South Korea),KT Corporation (South Korea),Inseego Corp (US),Intelsat (Luxembourg),AT&T (US),Verizon (US),Aeromobile Communications Ltd (UK),Vodafone Group PLC (UK),Etisalat (UAE)
Regional Analysis:
According to the geographical updates, the 5G in aviation market industry analysis is developing in various regions worldwide, such as North America, Europe, Asia Pacific and the rest of the world. Among the above geographical regions, the North American region has dominated the market since 2018. Due to the presence of chief players in the regions of North America, the 5G in Aviation Industry Trends continue its consistent growth during the forecast period. The European market is even projected to register a sound growth rate due to the rise of 5G technology in the airports of the UK. The increase in the rate of air traffic in populous countries like China and India are enhancing the 5G in Aviation Industry Trends in the Asia Pacific region, and it is estimated to register the highest CAGR during the evaluation period. The development of smart and advanced airports to lift the market in other world regions.
Industry Related News:
According to the recent updates, the major key players, AT & T and Verizon, invest in 5G and aviation safety clouds.
In September 2020, Verizon placed a bid of US$ 1.89 Billion for the auction of 3.5 GHz PALs from the FCC (Federal Communications Commission).
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Aircraft Leasing Market Research Report Information By Leasing Type (Wet Leasing (Aircraft, Crew, Maintenance and Insurance) and Dry Leasing) By Aircraft Type (Narrow-body, Wide-body and others), By Security Type (Asset-Backed Security (ABS) and Non-ABS) - Forecast till 2030
航空ソフトウェア市場調査レポート：アプリケーション（空港および航空会社）、ソフトウェアタイプ（管理ソフトウェア、分析ソフトウェア、設計ソフトウェア、シミュレーションソフトウェア、MROソフトウェア）および地域（北米、ヨーロッパ、アジア太平洋、中東、アフリカ、ラテンアメリカ）別の情報-予測まで2028
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