Artificial Intelligence in Aviation Market to reach $13.3 Billion by 2030; increasing demand for automation, enhanced operational efficiency, predictive maintenance and improved passenger experiences are propelling the growth of the Artificial Intell

The Artificial Intelligence in Aviation Market size is estimated to reach $13.3 Billion by 2030, growing at a CAGR of 40.5% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Artificial Intelligence in Aviation market - By Solution (Software, Hardware and Services), By Technology (Natural Language Processing, Machine Learning, Computer Vision, Context Awareness Computing and Others), By Application (Smart Maintenance, Manufacturing, Training, Surveillance, Dynamic Pricing, Flight Operation, Virtual Assistants and Others) and By Geography - Opportunity Analysis & Industry Forecast, 2024-2030.

The market for Artificial Intelligence in Aviation is growing due to the growing demand for automation and enhanced operational efficiency. Additionally, AI is being employed in chat apps, customer service, check-ins and other important aspects ensuring a seamless flight experience for passengers.

North America leads the Artificial Intelligence in Aviation market in 2023 driven by its strong aerospace industry, substantial defense budgets and early adoption of advanced AI technologies. A well-established aviation industry with major players like Boeing and RTX provides a fertile ground for AI applications. For instance, Boeing introduced its own smart maintenance system, alerting ground crews to potential issues in real time and cutting down on unscheduled repairs. North American companies have been early adopters of AI technologies, leading to significant advancements and practical applications. As reported by the New York Times in May 2024, American Airlines and others are working on an A.I.-powered system called Smart Gating.

The growing demand for automation in aviation is a major driver for the adoption of AI technologies. Airlines and airports are under pressure to reduce costs, improve efficiency and enhance passenger experiences which has accelerates the implementation of AI-powered automated systems. AI supports automation across various functions including predictive maintenance, air traffic control, baggage handling and passenger services. Autonomous ground vehicles and AI-enabled robotic systems streamline airport operations reducing manual labor and increasing productivity. Moreover, AI can automate complex decision-making processes by analyzing real-time data ensuring faster turnaround times for flights and optimizing fuel consumption.

The need to enhance operational efficiency is a key driver for the adoption of AI in aviation. AI-powered systems enable airlines and airports to optimize processes such as predictive maintenance, fuel management and crew scheduling, leading to cost savings and improved resource utilization. AI algorithms analyze large datasets in real time to predict equipment failures, reducing downtime and maintenance costs. Additionally, AI enhances route optimization improving fuel efficiency and reducing carbon emissions. Airlines leverage AI for automated flight operations and air traffic management, streamlining processes and ensuring on-time performance. In airport operations AI supports passenger flow management, baggage handling and ground operations enhancing productivity.

Key companies profiled in the Artificial Intelligence in AI Market are Airbus SE, Microsoft Corporation, Intel Corporation, NVIDIA Corporation, Thales, Garmin Ltd., Boeing, Micron Technology, Lockheed Martin Corporation and IBM

Air Traffic Control Equipment Market - Air Traffic Control Equipment Market size is analyzed to grow at a CAGR of 6.5% during the forecast 2024-2030 to reach $9.6 billion. The rise of promising economies, combined with the necessity for efficient airspace management, had also prompted airlines to integrate advanced ATC technologies, thus resulting in a good market opportunity for Air Traffic Control Equipment.

Commercial Aircraft Leasing Market - Commercial Aircraft Leasing Market is forecast to reach $325 billion by 2030, after growing at a CAGR of 7.9% during 2024-2030. The growth of the commercial aircraft leasing market is attributed to the increasing air traffic volume. This leads to a corresponding increase in the need for aircraft to meet the demand which in turn, drives the demand for aircraft leasing.

Aircraft Seals Market - The Aircraft Seals Market size is valued at $3.3bn in 2022 and is expected to reach a value of $4.7 Billion by 2030 at a CAGR of 4.4% during the forecast period 2023-2030. The global aircraft seals market is driven by factors such as increasing demand for aircraft and rising focus on passenger safety.