In a recent published report, Kenneth Research has updated the market report for In-Flight Wi-Fi Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for In-Flight Wi-Fi Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
In-Flight Wi-Fi is a revolutionary service that enables people to remain connected and updated with the latest activities all across the globe even while travelling above 3,000 meters in the air. The global in-flight Wi-Fi connectivity market was valued at USD 2,493 Million in 2015 and is anticipated to expand at a substantial compound annual growth rate (CAGR) of 14.50% over the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
The global in-flight Wi-Fi market is likely to be fuelled by increasing number of commercial aircrafts all over the world, which are anticipated to reach to 40,020 by 2032. In addition to that, rising penetration of smartphones and formulation of favorable guidelines by the aviation authorities (Federal Aviation Administration in the U.S. allowed use of portable electronic devices in the planes) for the use of in-flight Wi-Fi services inside an aircraft would further bid to boost the airborne wireless connectivity market over the next few years.
However, lack of safety and security, higher costs and lack of technology are some of the major challenges that would restrain the growth of in-flight Wi-Fi market during the forecast period.
The global in-flight Wi-Fi market is segmented on the basis of type such as hardware and services. . At 62%, the service segment is believed to have the highest market share by 2021.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
On the basis of technology, the market is segmented into two main types i.e. ATG (Air-to-Ground) and satellite technology. The ATG technology covered the largest segment of the market in 2015, but owing to larger adoption of the satellite based technology by the airline companies, the satellite segment is anticipated to observe the highest compound annual growth rate (CAGR) of 22.03% during 2015-2021.
The global in-flight WiFi market is also divided on the basis of geography. It has been noticed that North America captured the highest share in global in-flight Wi-Fi market in 2015 followed by Europe. Maintaining the same trend, North America is projected to dominate the global inflight WiFi market between 2015 and 2021. Asia Pacific region is anticipated to grow at a rapid pace owing to some of the major factors such as robust economic growth, rising disposable income and increasing penetration of smartphones.
The key players of the in-flight Wi-Fi market include ViaSat, Honeywell International Inc., Global Eagle Entertainment, Thales Group, SITA, Kymeta Corporation, Gogo Inc. etc.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Business Questions answer by the report
- How will the market drivers, restraints and opportunities affect the market dynamics?
- What will be the market size in terms of value and volume and market statistics with detailed classification?
- Which segment dominates the market or region and one will be the fastest growing and why?
- A comprehensive survey of the competitive landscape and the market participant players
- Analysis of strategy adopted by the key player and their impact on other players.
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“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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