In-Flight Entertainment Market Is Projected To Reach $6.13 Billion By 2032, Growing At A CAGR Of 10%. Latest Technological Advancements Are Expected To Drive Entertainment Offerings.
Apr 19, 2024
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Market Overview
The global in-flight entertainment market will touch USD 6.13 billion at a 10.00% CAGR by 2032, as per the recent Market Research Future report.
Drivers
Latest Technological Advances to Boost Market Growth
Additional advancements in technology aimed at fostering growth include the integration of virtual reality into consumer devices to enhance onboard entertainment experiences. These systems boast features such as integrated passenger control units, customizable attendant call buttons, and highly precise touch sensors and displays.
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Key Players
Eminent market players profiled in the global in flight entertainment market report include FDS Avionics Corp (US), Eagle Entertainment Inc. (US), Gogo Inc. (US), Honeywell International Inc. (US), Inmarsat PLC (UK), Lufthansa Systems (Germany), Panasonic Avionics Corporation (US), Collins Aerospace (US), SITAONAIR (Switzerland), Thales Group (France), Viasat Inc. (US), and Zodiac Aerospace (France).
Opportunities
Preference for Low-Cost Carriers to offer Robust Opportunities
In developing nations, travelers overwhelmingly favor low-cost airlines, regardless of their cabin class. To maintain their competitive edge and attract more passengers, these budget carriers are increasingly enhancing their onboard amenities, such as in-flight dining and entertainment options. This surge in demand for in-flight entertainment systems is driving significant growth in the in-flight entertainment market, fueled by the exceptionally high demand for aircraft fleets.
Restraints and Challenges
High Costs to act as Market Restraint
The forecasted period may face market constraints due to the elevated costs of connectivity hardware and networking technologies, alongside escalating concerns regarding security issues and data privacy. Additionally, the impact of COVID-19 could further hinder market growth.
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Market Segmentation
The worldwide in-flight entertainment market is divided into segments based on service type, technology, product type, and platform.
Narrow-body aircraft are projected to drive market growth during the forecast period.
Hardware is anticipated to maintain dominance in the market throughout the forecast period in terms of product type.
Satellite technology is expected to lead the market during the forecast period in terms of technology.
Video display systems are forecasted to be the leading service type commanding the market throughout the forecast period.
Regional Analysis
North America to Head In Flight Entertainment Market
The North American aviation sector is poised for dominance, driven by a surge in travelers and increasing demand for long-range business jets and electric aircraft. This trend is further fueled by airlines' growing reliance on in-flight entertainment systems. Regional carriers in affluent nations are expected to embrace these technologies more, fueling continued growth in the regional aviation sector. Established airlines like United Airlines, Inc. and Delta Air Lines, Inc. are actively striving to enhance customer experience by offering amenities like in-flight Wi-Fi and compensatory content. Furthermore, with the rise of the BYOD (Bring Your Own Device) movement, airlines may no longer need to install back-seat displays, resulting in reduced aircraft weight.
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