In flight Entertainment and Connectivity Market - Growth, Trends and Forecasts (2018-2023)
With all the major airline carriers trying to distinguish themselves from their competitors by offering better luxury and entertainment experience to their flyers, the market for in flight entertainment is expected to boast a bright prospect over the coming 5 years. The global market for in flight entertainment is expected to touch $4.98 billion by 2020 from $3.12 billion in 2015 at an estimated CAGR of 9.80% over the forecasted period.
Major hurdle for the market is that many carriers, in order to save on running and equipment costs, have removed the infotainment systems in favor of providing Wi-fi and Internet streaming services. Low cost and mid tier airlines are the ones, which are strongly opting for this option. But many full service carriers especially in Middle East and Asia Pacific, where there is high preference for infotainment systems, have upgraded their systems and are planning to spend large sums of money on the same. Further, rising disposable incomes and growing business travel will make the in flight entertainment systems as a standard offering, acting as a major propellant for the global IFE market.
Being the global leader in passenger jet sales, North America is also the market leader for in flight entertainment and connectivity systems in the global scenario. However, the market in Asia Pacific region is expected to witness a faster growth rate due to growing number of flyers and subsequent competition among the airline carriers.
In markets such as India, where carriers barring few, have extremely low profitability, cost cutting trends took over. This forced the carriers to remove the inflight entertainment systems that were employed 5 years ago, completely. But growing customer expectations and competition in the region will force carriers to add such systems in the future, thus providing big boost to the flight entertainment and connectivity market in these markets.
South America on the back of rising trade and tourism, especially from North America, will see one of the fastest rates of growth in the aviation sector, which will contribute positively towards the in-flight entertainment and connectivity market. Asia Pacific region will record the fastest rate of growth in the in-flight entertainment and connectivity market followed by Middle East & Africa and South America.
Panasonic Avionics Corporation, Rockwell Collins and Thales Group S.A are some of the major players in the market. The global in flight entertainment system and connectivity market is segmented by Product Type (Hardware, Content, Connectivity), by Fit (Line Fit, Retro Fit), by Class (First class, Business Class, Economy Class) and by geography (North America, Latin America, Middle East & Africa, Europe, Asia Pacific).
What the report offers
Market analysis for the Global In-Flight Entertainment and Connectivity Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the In-Flight Entertainment and Connectivity Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped