Aviation Market
The aviation industry is a business dedicated to manufacturing and operating
all types of aircrafts, such as: planes, jets, helicopters for civil and military
divisions. It covers the following markets: airlines, airport operations, air traffic
control, and aircraft manufacturing. The term ‘Aviation’ comes from the Latin
word avis meaning bird, an appropriate translation given that aviation deals
with travel by air, specifically by plane. Aviation is not a modern industry -
it is an established, 100+ year old business. It is not growing rapidly, what’s
more – it does not really generate healthy profits –margins have fluctuated
between 4% to 8% in recent years mainly due to the decreasing prices of
plane tickets and a rising number of flyers. This means that any technological
advancements introducing, even small savings are welcomed. This is where
Big Data comes into play.
like cloud computing, Internet of Things (IoT), or artificial intelligence (AI)
more recognizable. The aviation market, due to its own complexity (E2E
process of transportation), high on-ground and flight security standards
(e.g.: complex security checks before getting on the plane), and general
a business environment: high market competition causing a constant battle
for new customers, presents a high level of adoption of innovative solutions.
These all translate into the emergence of new subindustries built around new
tech: IoT in Aviation, AI in the Aviation market has become a hot topic in recent
years, making Aviation more tech-savvy – transforming the industry into
a digitalised (introduction of cloud computing), automated (implementation
of DL, AI) modern market, aiming to be more customer-oriented with
a number of conveniences (i.e. baggage tracking, virtual assistants) making
the industry more appealing to both frequent and rare flyers
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