Aviation IoT Market Market Analysis

Application (Ground Operations, Passenger Experience, Aircraft Operations, Asset Management)

By application, the asset management segment in the aviation IoT market is estimated to hold a share of 35% by 2024 due to the growing demand for tracking and proper management of aviation assets. IoT-enabled asset management systems facilitate real-time information on the location of the asset and its status, hence diminishing losses and increasing the utilization of such assets. In May 2023, Honeywell found a solution based on the IoT for asset management—one that lets airports manage airport assets, such as baggage carts and fuel trucks, all to make sure they can live up to the operational efficiency necessary at a lower cost to the customer. Such developments further drive the segment growth throughout 2036.

Component (Hardware, Software, Service)

By component, the hardware segment is expected to secure a 55% aviation IoT market share in 2024. This segment demand has been growing owing to the rising deployment of IoT sensors, gateways, and other hardware components in aviation operations; such devices are crucial for data collection and their transmissions across IoT networks. For example, Siemens AG integrated further with the healthy growth potential of the hardware wing of the aviation IoT market in June 2023 by launching new lines of IoT sensors targeted at harsh aviation environments.

End use (Airport, Airline Operators, MRO, Aircraft OEM)

The airport segment is estimated to account for a significant revenue share in the aviation IoT market over the forecast period. The increasing trend to adopt IoT technologies is making airports massively invest in them to smooth operations, enhance security, and improve passenger experience.

In June 2023, Pristina International Airport introduced Amadeus' Airport Management Suite (AMS) in a major initiative to optimize flight scheduling planning up to a year in advance. New operational systems will distribute and regularly update key flight data at strategic points throughout the airport while introducing advanced optimization algorithms to better manage commonly used facilities such as parking, departure gates, and check-in counters for the benefit of airlines flying from Pristina. Developments like these further boost the adoption of aviation IoT in airports.

Our in-depth analysis of the aviation IoT market includes the following segments: