NY, USA, September-03, 2019 /Aerospace --
Market NEWS: "5G Market in Aviation Worth $3.9 Billion by 2026"
The report "5G Market in Aviation by End Use (5G Infrastructure for Aircraft and Airport), Technology (eMBB, FWA, URLLC/MMTC), Communication Infrastructure (Small Cell, DAS), 5G Services (Aircraft Operations, Airport Operations), Region - Global Forecast to 2026", published by MarketsandMarkets™, is estimated to be USD 0.5 billion in 2021 and is projected to reach USD 3.9 billion by 2026, at a CAGR of 52.7% from 2021 to 2026. The demand for 5G infrastructure and services has been growing due to the rising demand for better flight experience. Increasing demand for predictive, prescriptive, and condition-based maintenance through data shared by connected aircraft is also anticipated to propel the growth of 5G market in aviation over the forecast period.
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5G infrastructure for aircraft segment projected to grow at highest CAGR from 2021 to 2026
Based on end-use, 5G infrastructure for aircraft is expected to grow at the highest CAGR during the forecast period, owing to the rise in the development of smart connected aircraft across the globe. 5G infrastructure and services would be used in various flight operations as well as drone operations, such as real-time data acquisition and monitoring and in-flight entertainment.
Ultra-reliable low latency communication/massive machine-type communications (URLLC/MMTC) segment projected to grow at highest CAGR from 2021 to 2026
Based on technology, ultra-reliable low latency communication/massive machine-type communications (URLLC/MMTC) is expected to grow at the highest CAGR during the forecast period. mMTC has been developed already as part of 3GPP Release 13/14 Low Power Wide Area (LPWA) technologies, which cover NB-IoT which would help in developing a latent free, end-to-end 5G connection. The rise in demand for a reliable and consistent end-to-end internet connection in aircrafts is expected to drive the growth for URLLC/MMTC.
Asia Pacific 5G market in aviation is projected to grow at the highest CAGR from 2021 to 2026
Based on the region, the Asia Pacific 5G market in aviation is expected to grow at the highest CAGR during the forecast period. The market growth in this region is primarily due to the increase in air passenger traffic from countries such as India, China, Japan, and other parts of the APAC region, along with the rising demand for better passenger experience. According to CAPA, four out of ten carriers with most long routes belong to APAC. With the rise in long-haul flights, there is a growing demand for a fast internet connection that is consistent throughout the flight duration. This is a major factor boosting the growth of 5G market in aviation in this region.
Browse in-depth TOC on "5G Market in Aviation"
70 - Tables 40 - Figures 130 - Pages
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The 5G market in aviation has been gaining traction over the past few years due to the presence of several established companies as well as startups. Some of the major players in the 5G market in aviation in North America include Cisco Systems (US), Panasonic Avionics Corporation (US), Gogo LLC (US), Global Eagle Entertainment (US), ONEWEB (US), Smartsky Networks (US), Inseego Corp (US) and Intelsat (US). Whereas, Ericsson (Sweden), Nokia (Finland), Aeromobile Communications (UK) are some of the leading companies in Europe. Huawei Technologies Co. Ltd. (China), is the key market player in the Asia Pacific region, which has robust product offerings.