Industry Outlook and Trend Analysis
The Inflight Entertainment (IFE) Market was worth USD 2.48 billion in 2014 and is expected to reach approximately USD 7.91 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 13.76% during the forecast period. IFE systems are vital value augmentations for aircrafts, essentially on long routes. While IFE systems have been around for quite a while, the advance toward giving in-flight availability is moderately new. These services allow travellers to make the most of their in-flight time through a large group of programs, for example, movies and games, and empower carriers to adequately connect with their travellers and pick up a competitive edge. Factors, for example, the expanding air passenger traffic and innovative headways to goad the development of this market amid the gauge time frame.
Fit Outlook and Trend Analysis
The linefit portion has been seeing solid development over the globe lately; determined by variables, for example, increase in air travel, developing interest for recently fabricated air ship and development in worldwide tourism. Development of the civil sector has brought about an expanding interest for new airplane, which influences the inflight stimulation (IFE) market. The expanding interest for new aircraft is foreseen to boost market development amid the estimate time frame.
Aircraft Type Outlook and Trend Analysis
On the basis of aircraft type, the narrow body air ship portion of the in-flight amusement (IFE) system market is anticipated to develop at the most elevated CAGR amid the gauge time frame. Carriers are supplanting the older narrow body aircraft by presenting most recent aircraft, for example, the A320 Neo and the 737 Max. The mainline carriers are deciding on the cutting edge limit body air ship to serve clients better while additionally enhancing gainfulness through the lower working expense of the aircraft.
Product Type Outlook and Trend Analysis
On the basis of product type, the IFE connectivity & communication fragment of the inflight entertainment (IFE) market is anticipated to develop at the most astounding CAGR in the upcoming years. Airline operators are investigating new avenues to adopt connectivity based applications with managed web access on board the flying machine to take into account the necessities of the travellers.
Regional Outlook and Trend Analysis
The inflight entertainment (IFE) market in the Asia-Pacific district is anticipated to develop at the most elevated CAGR amid the figure time frame. Amid the estimate time frame, the Asia-Pacific district is foreseen to get a high number of airplane deliveries, which is around 33% of the worldwide deliveries. China is anticipated to be the major market in the area inferable from the changes in their controls and strategies, inventive plans of action, and the advancement of aircraft with new technologies.
The leading players in the market are Honeywell, Rockwell Collins, Global Eagle Entertainment Inc, Gogo LLC, Thales Group and Zodiac Aerospace. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Inflight Entertainment (IFE) Market is segmented as follows-
By Aircraft Type:
Wide Body Aircraft
Very Large Aircraft
Narrow Body Aircraft
By Product Type:
IFE connectivity & communication
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?