World News: 14:22 GMT Thursday 30th May 2019. [WiseGuy Research Consultants Pvt. Ltd. via Globe Newswire via SPi World News]
Pune, India, May 30, 2019 (GLOBE NEWSWIRE) --
Developments in LED TVs which are negligible in weight and compact in nature are likely to boost market revenues. Furthermore, tie-ups between content providers such as Netflix and airlines which can provide videos at the affordable bandwidth on flights will be a trend to watch out for in the coming years. Domestic airlines unable to afford upgrades of IFE are offering iPads and tablets to compensate for the lack of seat screens.
The global in-flight entertainment market has also been segmented on the basis of platform, product type, and service.
The in-flight entertainment market, in this report, has been segmented on the basis of platform into three types, namely narrow-body aircraft, wide-body aircraft, and business jets. Narrow-body aircraft market is projected to register the highest CAGR of 13.43% during the forecast period.
The global in-flight entertainment market is segmented on the basis of product type into hardware and connectivity & communication. The connectivity & communication segment is projected to register the highest CAGR of 13.85% during the forecast period.
Services include data connectivity, video display systems, flight tracker, and others. The data connectivity segment market is projected to register the highest CAGR of 13.35% during the forecast period.
North America led the global market with 32.99% share in 2016, followed by Europe and Asia Pacific with shares of 28.71% and 24.90%, respectively.
The Asia Pacific region has become lucrative owing to various airline carriers providing in-flight entertainment services, due to the significant domestic air traffic in countries such as India and China. Investments in research and development by airline carriers to ensure a smooth and uninterrupted journey for passengers. This is exemplified by the establishment of AirAsia’s technology center in Bengaluru, India.
North America possesses a high market share due to sheer existence of major in-flight entertainment companies, such as Global Eagle, Panasonic Avionics Corporation, and Gogo, combined with the availability of sophisticated technologies to deliver in-flight solutions through various platforms. Moreover, it is expected that approximately 10,000 aircraft would be in service in the region by 2035, which would create additional opportunities for the major in-flight entertainment companies, along with the emerging companies in the region. The region can experience a CAGR of 13.05% during the forecast period to reach a value of USD 2,555.9 million by 2023.
Honeywell International Inc., Lufthansa Systems, Viasat Inc., Rockwell Collins, Inc., Panasonic Avionics Corporation, Inmarsat Plc, Gogo Inc., Global Eagle Entertainment Inc., FDS Avionics Corp., SITAONAIR, Zodiac Aerospace, Thales Group, and others are notable names in the in-flight entertainment market.
Players in the market are upgrading their hardware or software to keep up with consumer demands. Partnerships with content service providers as well as relying on high-satellite throughput bands to ensure high net speeds is likely to play a major role in the market.
Consumer Wellness – Although at a nascent stage, Virgin Australia has partnered with Smiling Mind, one of the premium providers in wellness and meditation videos. Passengers can leverage on these videos to control their flight-driven anxiety and have face-to-face interactions with others.
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Globe Newswire: 14:22 GMT Thursday 30th May 2019
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