Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on In-flight Entertainment Market Research Report.
Prolific growth in number of airlines service providers has given ensured an intense airlines market competition. As a result, companies are now focusing on enhancing customer experience resulting in in-flight entertainments (IFEs). In-flight entertainment provides movies, e-books, videos, games, and other activities. The segment is gaining much precedence with advanced technologies such as in satellites, and air-to-ground networks which is boosting onboard connectivity. The global in-flight entertainment market can expect a robust growth during the forecast period (2017-2023) assures Market Research Future (MRFR) in a detailed analysis taking in macro factors such as rising number of aircraft and increasing passenger traffic. Associated market’s rapid transformation can also prove vital in the further development of the market.
However, these gadgets increase the weight of the flight, thereby, affecting fuel consumption adversely. In addition, proper care is needed for its further maintenance as voltage leaks and arcing could play a crucial role in dampening the in-flight entertainment market growth.
In-flight entertainment may soon enter the next phase with the inclusion of virtual reality in its domain. Companies like Inflight VR and Skylights are already teaming up with airlines giants such as Airbus and are developing new technologies to boost customer experience.
Emirates Airlines’ ICE is taking in-flight entertainment to the next level by incorporating over 3500 channels of entertainment deliver the best-in-class experience to their passengers.
The global in-flight entertainment market can be segmented by platform, product, and service.
Platform-based segmentation of the in-flight entertainment market includes narrow body aircraft, wide-body aircraft, and business jets. Narrow body aircrafts control 66.94% of the market with a valuation of USD 2,206.4 million. It can showcase the highest projected CAGR of 13.43% during the review period.
Product-based segmentation of the in-flight entertainment market comprises hardware and connectivity. Connectivity can further be segmented into wired and wireless. Wireless can be sub-segmented into antenna, wireless LAN controller, wireless access point, wireless hotspot gateway, and others. Hardware segment registers the maximum growth with 61.02% of the market share and valuation of USD 2,011.3 million. It can expect a CAGR of 12.55% during the forecast period.
Service-wise, the in-flight entertainment market includes video display system, data connectivity, flight tracker, and others. Video display systems, with a market value of USD 1,711.9 million and 51.94% market share lead the segment. Its projected CAGR for the forecast period is 13.17%.
Region-specific segmentation of the in-flight entertainment market encompasses namely North America, South America, Europe, Asia Pacific (APAC) and the Middle East & Africa (MEA).
With 32.99% of he total market share, North America is leading the section. Its current market value is of USD 1,087.3 million with a projected CAGR of 13.05% during the forecast period. The presence of major flight companies and the intense competition they face can surely give the regional market an unprecedented boost. Furthermore, the region may get additional 10,000 aircrafts by 2035 which can directly trigger market growth. The APAC can experience significant growth with China and India accumulating substantial market share.
In-flight entertainment market is getting competitive with companies teaming up to explore their potential. For instance, FTS has joined hands with Donghai Airlines in a bid to improve the in-flight broadband system. Havelsan, Turkish Technic, and Inmarsat are collaborating to develop strategies for integrated in-flight connectivity and entertainment solutions.
Prominent players of in-flight entertainment market are FDS Avionics Corp. (U.S.), Global Eagle Entertainment Inc. (U.S.), Gogo Inc. (U.S.), Honeywell International Inc. (U.S.), Inmarsat Plc (U.K), Lufthansa Systems (Germany), Panasonic Avionics Corporation (U.S.), Rockwell Collins, Inc. (U.S.) SITAONAIR (Switzerland), Thales Group (France), Viasat Inc. (U.S.), Zodiac Aerospace (France), and others.