According to the report published by Allied Market Research, the global 5G in aviation market generated $0.7 billion in 2020, and is projected to reach $4.68 billion by 2030, witnessing a CAGR of 22.8% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Upsurge in airline passenger traffic and government initiatives to support the development of 5G drive the growth of the global 5G in aviation market. However, high infrastructure cost involved in 5G technology deployment restrains the market to some extent. On the other hand, contracts and agreements with the aviation industry players and continuous advancements in 5G network present new opportunities in the upcoming years.
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COVID-19 scenario:
The outbreak of the COVID-19 pandemic has had a negative impact on the global 5G in aviation market.
There was a significant decline in the supply of 5G technology for airport and aircraft applications during the initial phase of the pandemic.
Moreover, COVID-19 health crisis led to a lot of complexities in transportation as airports across the globe were facing bottlenecks in operational processes.
The report offers detailed segmentation of the global 5G in aviation market based on communication infrastructure, technology, end use, and region.
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Based on communication infrastructure, the small cell segment held the highest market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 23.8% from 2021 to 2030.
Based on end use, the airport segment held the largest market share in 2020, holding around more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 23.6% from 2021 to 2030.
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Based on region, North America contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the Asia-Pacific region is projected to manifest the fastest CAGR of 24.4% during the forecast period.
List of companies profiled of the global 5G in aviation market analyzed in the research include Cisco Systems, Inc., Gogo Inc., Huawei Technologies Co., Ltd., Inseego Corp., Nokia Corporation, OneWeb, Panasonic Avionics Corporation, Qualcomm Technologies, Inc., Smartsky Networks, LLC, and Telefonaktiebolaget LM Ericsson.
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Similar Reports We Have on Aviation Industry:
Aviation Analytics Market by End User (Airlines, Airports and Others), by Application (Flight Risk Management, Inventory Management, Fuel Management, Revenue Management, Customer Analytics, and Navigation Services), by Business Function (Sales & Marketing, Finance, Maintenance, Repair & Operations, and Supply Chain), and by Component (Service and Software) – Global Opportunity Analysis and Industry Forecast, 2017-2030.
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