Internet of Things (IoT) is generally a combination of information technology services and operational technology. Iot is a virtual intelligence that connects, sends, controls, and receives data without the need for human interference. Moreover, it is a combination of sensors, and physical gadgets connected to each other to transmit data that helps to reduce human efforts largely. Digital Transformation of solutions in the aviation sector is anticipated to drive the growth of the Industry during the projected horizon.
What is Industry Growth?
The Industry research analysis provides qualitative and quantitative information about the parameters such as drivers, restraints, challenges and the opportunities the Industry will face during the projected horizon. The research analysis provides in-depth details for the regional analysis featuring several regions that will contribute to the growth of the Industry in the forthcoming years.
Furthermore, the competitive landscape has been discussed involving several companies operating in the Industry trying to gain major Industry presences by adopting strategies that will drive the growth of the Industry between 2019 and 2026.
Unisys Corporation Digital Transformation for Supply Chain to Surge Demand
Unisys Corporation, in March 2020, announced that it received the “International IT Systems Provider of the Year- Highly Acclaimed” for its integrated and holistic software and services for cargo logistics. It received this award at the STAT Times International Awards for Excellence in Air Cargo, 2020 that took place at the Air Cargo India conference that was scheduled in Mumbai on February 26.
The company’s software suite, Digistics, allows the cargo companies to streamline their freight management operations to improve overall operational activities. Increasing adoption of technology by the companies will drive the growth of the Industry during the forecast period. Furthermore, adoption of smart airport initiatives by several government agencies across the globe will positively affect the growth of the Industry in the near future.
The global IoT in Aviation Industry size is anticipated to grow considering increasing initiatives for revamping airport facilities across several regions. In its latest research analysis, According to Fortune Business Insights™ “IOT in Aviation Industry Size, Share & Industry Analysis By Component (Communication Service, Data Centre Systems, IT Services & Software), By Application (Ground Operations, Asset Management, Passenger Experience, Air Traffic Management), By End User (Airline, Airport, MROs, Manufacturers) Others and Regional Forecast, 2019-2026.”
Presence of Key Players in North America to Aid Growth
Among the regions, the Industry in North America is expected to rise during the forecast period. North America will hold the largest Industry share owing to rising necessity for ground operations at airports. In addition to this, presence of key companies such as Cisco Systems, Inc., Honeywell Aerospace, IBM Corporation, and Microsoft Corporation in countries such as USA, will drive the growth of the Industry in North America during the forecast period.
On the other hand, Asia-Pacific will witness substantial growth for the Industry in the forthcoming years. This is attributable to factors such as increase in demand for smart airports in countries such as India, and China. Moreover, growing deployment of IoT-enabled infrastructures will boost the growth of the Industry in Asia-Pacific.
The Industry in Europe is likely to show considerable growth for the Industry backed by increasing investments in smart airport concepts across several nations. Latin America and the Middle East and Africa will register a high CAGR for the Industry during the forecast period.
List of Companies in the Industry 2022
Huawei Technologies Co., Ltd., Cisco Systems, Inc. , SITAONAIR, Honeywell International Inc., Microsoft Corporation, Aeris, IBM Corporation, Sendum Wireless Corporation, Happiest Minds Technologies, Amadeus IT Group SA, Arrow Electronics, Inc., Among others
According to the research analysis, there are several companies operating in the Industry adopting strategies that will drive the growth of the Industry in the forthcoming years. For instance, in December 2019, the U.S. Air Force awarded a contract worth $7.6 million to iCAMR, a US-based company.
As per the contract, the company will provide Iot based block chain solutions for IoT devices that are installed in the military aircrafts. The companies are striving hard to gain maximum IOT in Aviation Industry revenue that will boost the growth of the Industry between 2019 and 2026.