Global In-Flight Wi-Fi Market Generates Huge Revenue Till 2021– Study By Key Players (Global Eagle Entertainment, Thales Group, SITA)
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 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.
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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.
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.
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This post was originally published on Aerospace Industry