In-Flight Entertainment Market Hits USD 6.13 Billion at 10.00% CAGR by 2032, Latest Technological Advances to Boost Entertainment
Research Reports
Sep 14, 2023
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
Other growth-promoting technology developments include the incorporation of virtual reality with consumer devices for a better onboard entertainment experience. These systems have integrated passenger control units, programmable attendant call buttons, and very accurate 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
Regardless of cabin class, low-cost airlines are preferred by travelers in underdeveloped countries. In order to preserve their market position & boost passenger numbers, low cost carriers are progressively adding in-flight culinary and entertainment facilities as a result of the extremely high fleet demand they are facing. These elements are increasing the demand for the IFE systems and fueling the expansion of the in-flight entertainment market.
Restraints and Challenges
High Costs to act as Market Restraint
The high price of connectivity hardware & networking technologies and increase in security issues & data privacy may act as market restraints over the forecast period. Besides, the COVID-19 impact may also impede market growth.
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Market Segmentation
The global in-flight entertainment market is bifurcated based on service type, technology, product type, and platform.
By platform, narrow-body aircraft will lead the market growth over the forecast period.
By product type, hardware will domineer the market over the forecast period.
By technology, satellite technology will spearhead the market over the forecast period.
By service type, video display systems will command the market over the forecast period.
Regional Analysis
North America to Head In Flight Entertainment Market
Due to the large number of travelers and growing demand for long-range business jets and electric aircraft in the US, the North American industry will dominate. This is mostly due to airlines’ growing reliance on the in-flight entertainment systems as well. Regional airlines in affluent nations may use such technologies more frequently, which are anticipated to keep regional business growing. Few well-known airlines within the area, such as United Airlines, Inc. & Delta Air Lines, Inc., are always attempting to provide customers with medicines or compensatory content over Wi-Fi. Additionally, when the BYOD movement gains traction, airlines may no longer be required to nest back-seat displays, which will reduce overall aircraft weight.
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