In-Flight Entertainment & Connectivity Market to Worth $21.03 Bn by 2030 | Exhibiting With a 15.9% CAGR
Pune, India, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The global in-flight entertainment & connectivity market size was valued at USD 6.37 billion in 2022 and is projected to grow from USD 7.48 billion in 2023 to USD 21.03 billion by 2030, exhibiting a CAGR of 15.9%.
The in-flight entertainment & connectivity system heightens a traveler’s experience along and makes the passenger feel comfortable and safe. This technology allows the passenger to use mobile devices using in-flight Wi-Fi-facility. In recent times, airlines have initiated to provide this technology to passengers to lure in more customers. *Fortune Business Insights™** *presents this information in their report titled* "Global In-Flight Entertainment & Connectivity Market, 2023–2030."*
Some airlines provide in-flight Wi-Fi and offer streaming services to passengers' personal devices, such as smartphones, tablets, and laptops. Passengers can access content from the airline's library or use their streaming subscriptions.
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*List of Key Players Profiled in the In-Flight Entertainment & Connectivity Market Report:*
· Astronics Corporation (U.S.)
· Burrana Pty Ltd (Australia)
· Collins Aerospace (U.S.)
· FDS Avionics Corp. (U.S.)
· Global Eagle Entertainment, Inc. (U.S.)
· Gogo LLC (U.S.)
· Honeywell International Inc (U.S.)
· Lufthansa Systems GmbH & Co. KG (Germany)
· Panasonic Avionics Corporation (U.S.)
· Safran (France)
· Sitaonair (Switzerland)
· SmartSky Networks, LLC (U.S.)
· Thales Group (France)
· Viasat, Inc. (U.S.)
*Report Scope & Segmentation:*
*Attributes* *Details*
Forecast Period 2023-2030
Forecast CAGR 15.9%
2030 Value Projection USD 21.03 billion
Market Size in 2023 USD 7.48 billion
Historical Data 2019-2021
No. of Pages 180
Report Coverage Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered · By Type
· By IFE Hardware
· By IFE Connectivity
Regions Covered · North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
In-Flight Entertainment & Connectivity Market Growth Drivers Growing Need to Improve Passenger’s In-Flight Experience to Drive Market Growth
Increasing Focus on Maintenance of IFEC Equipment to Propel Market Growth
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*Key components of the In-Flight Entertainment & Connectivity market include:*
*Seatback Entertainment: *Many modern aircraft are equipped with individual seatback screens that provide passengers with a variety of entertainment options, such as movies, TV shows, and games. These systems can be interactive and allow passengers to choose their content.
*Internet Connectivity: *In-flight internet connectivity is becoming increasingly common. This enables passengers to access the internet, send emails, use social media, and even work during their flight. It is a significant revenue source for airlines.
*Live Television: *Some airlines offer live TV channels to passengers, allowing them to watch news, sports, and other live programming during their flight*.*
*E-commerce and Shopping: *Airlines may offer passengers the opportunity to shop in-flight, whether it's duty-free shopping or exclusive products available on the plane.
*Content Licensing: *Airlines need to secure the rights to distribute content, including movies and TV shows. This involves negotiating deals with studios and content providers.
*Satellite and Connectivity Providers: *Companies that provide the technology and infrastructure to deliver in-flight connectivity, including satellite services and onboard Wi-Fi equipment.
*Content Management and Delivery: *This involves the systems that manage and deliver content to passengers, as well as the user interfaces that passengers interact with.
*Advertising and Sponsorship: *IFEC systems can also provide opportunities for airlines to generate additional revenue through advertising and sponsorship deals with companies.
*In-Flight Entertainment & Connectivity Market Segments:*
*Satellite Communication and Internet Usage leads the IFE Connectivity Market*
By type, the market is bifurcated into IFE connectivity and IFE hardware. Owing to the use of satellite communication and internet the IFE connectivity is projected to grow during the forecast period.
*Non-Portable Segment Dominates the Market due to Enhanced Travel Experience*
Based on IFE hardware the market is divided into non-portable IFE and portable IFE. The non-portable IFE segment dominates the market due to the demand for heightened travel experience by using advanced electronics systems.
*Wired Connectivity Drives the Market due to Safety Features*
By end-user the market is classified into wired connectivity and wireless connectivity. Wired connectivity dominates the market as it requires physical access from the flight-deck is more secure than wireless connectivity.
*High Demand for Narrow Body Aircrafts Propels Market*
By aircraft type the market is segmented into narrow body, wide body, business jets, and regional jets. The narrow body segment dominates the market due to the demand for narrow body aircraft and the rise in aircraft fleet size.
*Rise in IFE Retrofits Bolsters the Segmental Growth.*
By end-user, the market is divided into aftermarket and OEM. Rise in retrofit activities in commercial flights globally and increased maintenance contribute to the segment’s growth.
Geographically the market is segmented across North America, Europe, Asia Pacific, and Rest of the World.
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*Report Coverage:*
The report offers:
· Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
· Comprehensive insights into regional developments.
· List of major industry players.
· Key strategies adopted by the market players.
· Latest industry developments include product launches, partnerships, mergers, and acquisitions.
*Drivers & Restraints:*
*High Maintenance of IFEC Equipment to Surge Growth*
Bad handling of IFEC equipment in aircraft can cause damage to the hardware. This results in high maintenance and equipment replacement leading to high demand and increased revenue in the in-flight entertainment & connectivity system market share. Replacement of these electronic equipment costs high resulting in high revenue.
However, the trend of providing media entertainment services on passenger’s personal devices will likely hamper the in-flight entertainment & connectivity market growth.
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*Regional Insights*
*Constant Initiatives by the Government to Maintain Europe’s Dominance*
North America dominates the market due to the presence of strong players such as Gogo LLC, Panasonic Avionics Corporation, and Collins Aerospace, among others. The region was valued at USD 2.07 billion in 2022. To increase the demand for IFEC the U.S. registered 13,000 jet aircraft during 2019.
Europe holds the second-largest in-flight entertainment & connectivity market share. The growth is due to the increasing adoption of 5G technology in the aviation sector.
*Detailed Table of Contents:*
· *Introduction*
· Research Scope
· Market Segmentation
· Research Methodology
· Definitions and Assumptions
· *Executive Summary*
· *Market Dynamics*
· Market Drivers
· Market Restraints
· Market Opportunities
· *Key Insights*
· Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
· Latest technological Advancements
· Porters Five Forces Analysis
· Supply Chain Analysis
· Quantitative Insights - Impact of COVID-19 Pandemic on Global In-Flight Entertainment & Connectivity Market
· *Global In-Flight Entertainment & Connectivity Market Analysis, Insights and Forecast, 2019-2030*
· Key Findings / Definition
· Market Analysis, Insights and Forecast – By Type
· IFE Hardware
· Portable IFE system
· Non-Potable IFE System
· IFE Connectivity
· Wired Connectivity
· Wireless Connectivity
· Market Analysis, Insights and Forecast – By Aircraft Type
· Narrow Body
· Wide Body
· Business Jet
· Regional Jets
· Market Analysis, Insights and Forecast – By End-User
· OEM
· Aftermarket
· Market Analysis, Insights and Forecast – By Region
· North America
· Europe
· Asia-pacific
· Rest of the World
*TOC Continued…!*
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*Competitive Landscape Key Companies Focus on R&D to Develop New Products for Global Expansion*
The market is fragmented with major players such as Collins Aerospace, Viasat Inc., Gogo LLC, and Panasonic Avionics Corporation, among others. Growing investment in R&D, enhanced travel experience, and strategic acquisitions are a few factors accountable for the growth of the companies.
*Key Industry Development: *
· *August 2021–* West Entertainment (West) has extended its contract with All Nippon Airways (ANA) as an in-flight entertainment (IFE) Content Service Provider (CSP). As part of the partnership, now in its fourth year, West will work closely with ANA's programming team to present the IFE content portal that offers Hollywood, Western, International, and South Asian entertainment to passengers.
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