Westford, USA,, March 02, 2023 (GLOBE NEWSWIRE) -- North America region is predicted to keep its dominance in the in-flight entertainment system market during the forecast period. The market's expansion is attributed to the increasing level of market adoption of in-flight entertainment systems. Some airlines, including Continental and American, have begun making investments in the provision of entertainment to travelers via Wi-Fi or tablet rentals. Further, the market will keep growing as the technology for flight entertainment develops and expands. With both private and commercial planes, business and leisure passengers are growing and they have become increasingly reliant on their gadgets, which is predicted to increase demand for in-flight entertainment offerings. In order to improve the travel experience for customers, airline firms are concentrating on deploying the most modern services.
SkyQuest further predicts that the rising number of air travelers and growing tourism across the globe will aid in the market growth. It was also noted that the US air transport sector, including airlines, and its distribution network contribute $642 billion to the country's GDP. The country's GDP is supported by foreign visitor spending to the tune of US $138.1 billion more, for a grand total of US $780 billion. The inputs to the air transport sector and foreign visitors who arrive by air contribute 4.21% of the nation's overall GDP.
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Browse in-depth TOC on " In-Flight Entertainment System Market"
Pages - 225
Tables - 117
Figures – 73
The experience of flying includes in-flight entertainment (IFE). It provides passengers with an excellent in-flight experience by displaying a large selection of informational and digital entertainment on a high-definition screen. The in-flight entertainment system offers a chance to boost customer happiness and loyalty.
Prominent Players in In-Flight Entertainment System Market
- Anuvu Operations LLC (US)
- Astronics Corporation (US)
- Burrana Pty Ltd (Australia)
- Collins Aerospace (US)
- FDS Avionics Corp. (US)
- Global Eagle Entertainment, Inc. (US)
- Gogo LLC (US)
- Honeywell International Inc (US)
- Iridium Communications Inc. (US)
- Lufthansa Systems GmbH & Co. KG (Germany)
- Panasonic Avionics Corporation (US)
- Safran (France)
- Thales Group (France)
- Viasat, Inc. (US)
- Sitaonair (Switzerland)
- SmartSky Networks, LLC (US)
IFE Hardware Segment to Dominate the Market Growth Owing to Increasing Product Launches
The IFE hardware segment gathered more than 30% of the market share in 2021, making it the most lucrative segment for future investment. The rising product launches in the IFE hardware segment category of the global in-flight entertainment system market are to thank for the market's segmental expansion. Airlines can upload, store, and deliver multimedia services to in-flight entertainment systems using in-flight entertainment (IFE) hardware.
SkyQuest noted that All Nippon Airlines (ANA) and Safran Passenger Innovations (SPI) are launching RAVE OS, Safran's newest software platform, on Boeing 787-9 Dreamliners. With features like pinch to zoom, picture-in-picture, and multitasking options, RAVE OS provides a contemporary user interface that is on pace with the newest consumer technology goods. Moreover, RAVE OS has the potential to run third-party programs, play 4K video, and offer a fully immersive audio experience in the cabin.
The in-flight entertainment system market in North America region is predicted to gain maximum market share during the forecast period. There have been significant improvements and developments made to the in-flight entertainment system. Consumer electronics are gaining ground by delivering trends like in-flight broadband and the commoditization of hardware, which are contributing to the quick adoption of the smart device paradigm in the region. Some of the most well-known and important firms in the region are concentrating on the inclusion of VR and AR in in-flight entertainment and working to provide passengers with a completely unique experience through virtual reality. Hence, all these factors are estimated to propel market growth.
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Satellite Connectivity Segment to Garner Notable Market Share Thanks to Growing Need for Higher Frequency and Bandwidth
The satellite connectivity segment garnered more than 40% of the market share in 2021 and it is predicted to gain significant market revenue during the forecast period as well. The market's segmented expansion is related to satellite connectivity's many advantages, including high frequencies and more bandwidth. Over the projection period, the market's segmental expansion is also influenced by the participants' growing inclination towards satellite connection and the rising launch of satellites across the globe.
SkyQuest found during research that global infrastructure is not complete without satellites, which enable us to utilize GPS, access the internet, and support Earth science research & entertainment-related purposes. 1,008 of the 2,665 functioning satellites that were circling the earth in April 2020 were used for communication. More than 445 satellites are used for Earth observation, while around 96 are used for GPS/navigation.
Moreover, the in-flight entertainment system market in the Asia Pacific region is estimated to gain the highest revenue during the forecast period. The growth of the market can be ascribed to the increasing disposable income and the rising living standards of people. With these two things, people in the region are more focused on comfort and they are ready to spend more on comfortable and time-saving modes of transport such as airlines which in turn is predicted to boost the market growth. Further, the growing investment by the government and key market players to develop more innovative and modern aircraft for passengers is predicted to support market expansion over the ensuing years.
In today's very competitive market, businesses are always looking for methods to outdo their competitors. This frequently entails establishing strategic alliances, buying companies, merging them, and exploring joint ventures to boost their market share and strengthen their position in the sector. The most recent research study from SkyQuest offers priceless information for both existing firms and new competitors trying to break into the in-flight entertainment system market.
Key Developments in the In-Flight Entertainment System Market
- In May 2022, Excellium strengthened its cybersecurity operations with the investment management firm Sonae and Thales Inc. France reached an agreement to buy S21SEC. The Thales cybersecurity portfolio will be finished with this.
- It is believed to be a significant accomplishment for the US-based aerospace business Collins Aerospace that they installed an advanced vision system, a ground-breaking device, in the Boeing 737 in May 2022.
- On a few routes, the Australian airline Qantas has given its customers VR headsets. Passengers were shown brand-new movies and Qantas goods.
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Key Questions Answered in the In-Flight Entertainment System Market Research Report
- What are the size and growth rate of the target market, both now and in the future?
- What are the main reasons for promoting the worldwide market's expansion and what are the main obstacles to it?
- What are the market's growth prospects going forward and how has the American market performed in the past?
- Who are the market's top competitors, and how fierce is the industry's competition?
- What market trends are influencing the future of growth and development?
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