AI in aviation market is anticipated to grow at a CAGR of 42.1% during the forecast period. The growing start-up initiatives across the globe is the major factor driving the growth of the market. To reduce the global challenges caused by fossil fuels and pollution, start-up companies are developing aircraft powered by AI. For instance, in June 2022, BON V Technology, a start-up in Odisha developed the AI-powered electric aircraft RM001, which is a smart, sustainable, and safe mode of transportation. RM001 can carry up to 200kg of cargo to more than 40km. The aircraft is equipped with AI technology to navigate itself during flight, avoid obstacles, and communicate with ground stations and across the globe through 4G and 5G connectivity. Moreover, it does not require to be operated once the destination location is entered which in turn drives the overall AI in the aviation market.
Additionally, in May 2021, Merlin Labs, Inc., an aviation technology start-up company partnered with Dynamic Aviation Group Inc., a provider of modified aircraft. Both companies’ partnership to put a fleet of 55 King Air planes in the sky without humans aboard by building software that creates a think-for-itself pilot, a fully-autonomous flight. In addition, this technology could have applications in numerous other fields including military transport, agriculture, and firefighting. Both companies aim to roll out an artificially intelligent pilot in companies such as Amazon, the US Air Force, the California department of forestry and firefighting, and others to implement an artificially intelligent pilot to their existing fleets.
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AI in Aviation Market Segmentation
By Offering
- Hardware
- Software
- Services
By Technology
- Context Awareness
- Machine Learning
- NLP (Natural Language Processing)
- Computer Vision
By Application
- Virtual Assistants
- Dynamic Pricing
- Smart Maintenance
- Manufacturing
- surveillance
- Flight Operations
- Training
- Others
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Airbus SE
- Amazon Web Services, Inc.
- Garmin Ltd.
- Intel Corp
- International Business Machines Corp (IBM)
- IRIS Automation Pvt. Ltd.
- Kitty Hawk Corp.
- Lockheed Martin Corp.
- Micron Technology, Inc.
- Microsoft Corp.
- Northrop Grumman Corp.
- Nvidia Corp.
- Pilot AI Labs, Inc.
- samsung electronics co., ltd.
- Thales Group
- The Boeing Company
- The General Electric Company (GE Group)
- Xilinx, Inc.
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- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
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