In-Flight Entertainment and Connectivity Market (2019-2024): Projected to Exceed Revenues of $6B by 2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 26, 2019--The “In-Flight Entertainment and Connectivity Market (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The in-flight entertainment and connectivity market is expected to register a CAGR of 7.77% during the forecast period, 2019-2024, to reach a market value of over USD 6 billion, by 2024.
Increasing orders for newer generation aircraft, adoption of IFE systems by LCC operators, and the need to enhance passenger experience are the main drivers for the market.
The adoption of features, like bring your own device (BYOD), are expected to generate growth opportunities for the market, in the years to come.
Though the internet speed remains a matter of concern for most of the airlines’ in-flight entertainment, some airlines have started providing in-flight live content streaming for most of the flights with high internet speeds.
Key Market Trends
Increase in Retrofits of Cabin Interiors
Currently, the line fit segment has the highest market share, when compared to retrofit. But it became important for the airlines to upgrade their aircraft cabins pertaining to the advent of new technologies, in order to attract more passengers with the amenities they offer.
Technological integration also shows their brand value. Hence, the airlines are upgrading and retrofitting their in-flight entertainment and connectivity systems with newer ones.
This is the main reason behind the expected high pace of growth of the retrofit segment during the forecast period. Retrofit is being done on most of the current aircraft, which are already present with the operators. Various airlines, such as Idair and Lufthansa, are now installing newer IFEC on their flights as a retrofit option.
North America is expected to lead the Market
At present, North America dominates the in-flight entertainment and connectivity market and is currently one of the main markets for IFEC providers. The large number of commercial aircraft in the United States is the main reason for the high market share of North America.
However, the market in the region is beginning to saturate, and now the growth is highest in the Asia-Pacific market. The market in the region is evolving with rising investments in cabin interior and other aviation products by the airlines in the region. Hence, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
The market is highly fragmented and about six companies had significant shares in the 2018 market revenue. Panasonic Corporation, Global Eagle Entertainment Inc., and Gogo LLC are some of the key players in the market currently.
Acquisitions of some companies by others and increasing investments in R&D for the development of advanced IFEC systems, like the next-generation Ku- and Ka- band antenna systems for better and faster connectivity, are the main trends in the market.
Also, the adoption of initiatives, like bring your own device (BYOD), are expected to enhance passenger experience, and the companies that provide these IFEC systems are eyeing to work in this regard and go forward through innovation and technological integration.
Key Topics Covered
1.1 Study Deliverable
1.2 Study Assumptions
1.3 Scope of the Study
2 Executive Summary
3 Research Methodology
4 Market Dynamics
4.1 Market Overview
4.4 Industry Attractiveness of Porter’s Five Forces Analysis
5 Market Segmentation
5.1 By Product
5.2 By Fit
5.3 By Class
5.3.1 Economy Class
5.3.2 Business Class
5.3.3 First Class
5.4.3 North America
5.4.4 Middle East & Africa
5.4.5 Latin America
6 Competitive Landscape
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Thales S.A.
6.4.2 Honeywell International Inc.
6.4.3 Global Eagle Entertainment Inc.
6.4.4 Viasat Inc.
6.4.5 Gogo LLC
6.4.6 Panasonic Corporation
6.4.7 Kontron AG
6.4.8 Collins Aerospace
6.4.10 digEcor Inc.
6.4.11 Inmarsat PLC
6.4.12 Stellar Entertainment
List not exhaustive
7 Market Opportunities and Future Trends
For more information about this report visit https://www.researchandmarkets.com/research/ntpr3q/inflight?w=4
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PUB: 03/26/2019 03:39 PM/DISC: 03/26/2019 03:39 PM