Summary: Some of the key players in the global 5G in the aviation market such as ONEWEB, Global Eagle Entertainment, Smartsky Networks, Huawei, Aeromobile Communications, Gogo, Inseego Corp., Nokia Corporation, Cisco Systems, and others.
The global 5G in the aviation market is slated to reach USD 4.2 billion in 2026 owing to the growing need for efficient integration of digital technologies. As per the new Fortune Business Insights report, titled “Global 5G in Aviation Market Size, Share and Industry Analysis, By Platform (5G Airport and 5G Aircraft), Technology (FWA, URLLC/MMTC, and eMBB), Communication Infrastructure (Small Cell, Radio Access Network (RAN) and Distributed Antenna Systems (DAS)), 5G Services (Airport Operations, and Aircraft Operations), and Regional Forecast, 2019-2026”, the value of the market stood at USD 0.2 billion in 2019 and is projected to soar at a 53.46% CAGR from 2019 to 2026.
Increasing Uptake of 5G Technology in Aviation to Favor Growth
One of the key 5G in aviation market trends is the steadily climbing adoption rate of 5G connectivity in the aviation industry. This technology is seen to be revolutionary in terms of internet speed and also in the context of integrating futuristic technologies such as the Internet of Things (IoT) and Virtual Reality (VR). Its uptake in the aviation industry is premised on the increasing passenger demand for better in-flight connectivity. 5G-enabled and connected aircraft is desirable due to the variety of luxuries they offer to passengers. For instance, frequent fliers can stream high-definition videos using 5G-powered Wi-Fi during long flights, making their journey fun and entertaining.
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List of Top Companies Profiled in 5G in Aviation Market are:
- Global Eagle Entertainment
- Smartsky Networks
- Aeromobile Communications
- Inseego Corp.
- Nokia Corporation
- Cisco Systems
- Panasonic Avionics Corporation
Rising Utility of 5G Technology in Aviation to Boost Growth Prospects
Increasing demand for 5G connectivity in flying operations is expected to be one of the leading 5G share aviation market trends. This is because 5G can be utilized in a wide range of applications. For instance, 5G technology can prove to be critical in drone operations as high-speed connectivity can provide crucial real-time data for any kind of military activity. Furthermore, 5G in aviation can elevate the safety and security quotient of airplanes as pilots will be able to communicate swiftly with air control towers in times of distress. One of the most important benefits of aviation 5G is real-time aircraft health monitoring, which can be accomplished through predictive maintenance tools and techniques. These benefits are likely to accelerate the 5G in aviation market revenue in the near future.
North America to Lead the Pack; Asia-Pacific to Follow
With a revenue generation of USD 0.9 billion in 2019, North America is poised to dominate the 5G in aviation market share during the forecast period. The main forces propelling the market in the region include rising demand for better in-flight experience, increasing air travel, and thriving aviation industry. The development of small regional airports and growing investments by in-flight entertainment service providers such as GoGo in 5G will also play a pivotal role in driving the market in North America.
In Asia-Pacific, the rapid expansion of aviation infrastructure and increasing adoption of 5G technology in aviation, especially in China, will be the two key factors driving the growth in this region. China would be one of the early movers for adopting 5G technologies at airports. Moreover, Japan, Australia, and South Korea are doubling down their investment in developing 5G infrastructure, which will augur well for the market in Asia-Pacific.
Prudent Partnerships to Stimulate Competition
The 5G in aviation market forecast by Fortune Business Insights paints a dynamic picture of the competition in this market owing to increasing strategic collaborations between competitors. Such collaborations are aimed at consolidating the players’ hold on the market through broadening of their service offerings.
Key Industry Developments:
October 2019:Gogo joined hands with Airspan Networks to develop a novel air-to-ground (ATG) 5G network. It will be designed for business aviation aircraft, small mainline jets, and commercial regional jets shuttling along the US-Canada border areas.
September 2019:Vodafone installed its 5G network at London’s Gatwick Airport. This is part of Gatwick Airport’s five-year digital transformation program, which will make Gatwick one of the first smart airports in the whole of UK.
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