US IFEC market is estimated to grow significantly at a CAGR of 9.1% during the forecast period. High disposable income, a large proportion of high-income groups are some of the key factors that are continuously propelling the number of passengers traveling via airplanes. The US is home to the second most millionaires across the globe. As per the Credit Suisse report, around 40% of the global millionaires are in the US, which was around 18.6 million in 2019, with an increment of 675,000 millionaires over the past year. The high population base provides a potential customer base for the airplane.
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The market is segmented on the basis of type, and class. Based on type, the market is segregated into in-flight entertainment and in-flight connectivity. The in-flight entertainment segment is anticipated to hold considerable market share during the forecast period. The growth of the in-flight entertainment segment is attributed to the surge in demand for continuous entertainment, such as video streaming, by the passengers onboard. The in-flight connectivity segment is driven by the increasing use of smartphones and the rising trend of connectivity solutions in airlines among others. Based on class, the market is segmented into first class, business class, and economy class. These are classified on the basis of different characteristics that include the cost of travel, available amenities, and ambience. In terms of market share, the business class segment is anticipated to hold a considerable share in the in-flight entertainment and connectivity market.
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The companies which are contributing to the growth of the US IFEC market include Astronics Corp., Global Eagle Entertainment, Inc., Satcom Direct (SD), Inc., Gogo Inc., Honeywell International, Inc., Iridium Communications Inc., Panasonic Aviation Corp., Rockwell Collins Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. For instance, In December 2017, Astronics Corp. acquired substantially all of the assets of Telefonix Inc. and a related company, Product Development Technologies, LLC and its subsidiaries, to become CSC, primarily located in Waukegan and Lake Zurich, Illinois. CSC designs and manufactures advanced in-flight entertainment and connectivity equipment and provides industry-leading design consultancy services for the global aerospace industry.
Market Segmentation
US IFEC Market by Type
- In-Flight Entertainment
- In-Flight Connectivity
US IFEC Market by Class
- First Class
- Business Class
- Economy Class
Company Profiles
- Astronics Corp.
- Global Eagle Entertainment, Inc.
- Satcom Direct (SD), Inc.
- Gogo Inc.
- Honeywell International, Inc.
- Iridium Communications Inc.
- Panasonic Aviation Corp.
- Rockwell Collins Inc.
- SmartSky Networks, LLC
- Viasat Inc.
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