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Role of Artificial Intelligence in the current market
The 2020 Annual Artificial Intelligence in Aviation Market offers 100+ charts exploring and Analyzing AI from critical angels, 10+ profiles of top AI with the highlight of market conditions, Benchmark wholesale prices for raw materials.
Key Segments of Artificial Intelligence in Aviation
By reaching to USD 2222.5 million in 2025 artificial intelligence market forecasted to 2000 times advance from 2018. The major factors behind AI growth in the aviation market subsume a rise in capital investments in the aviation market, and big data use in the aerospace industry and the rising adoption of cloud-based applications and services in the aviation industry.
Besides this it is must to know the following elements make Artificial Intelligence achievable in the Aviation Industry:
- Hardware, Software, and Services
- Equipment including Autocollimator, Measuring Microscope, Profile Projector, ODS, CMM, VMM
- Geographically it covers North America, South America, Europe, Asia-Pacific, Middle East, and Africa;
- Applications cover Smart Maintenance, Virtual Assistants, Manufacturing, Surveillance, Training, Flight Operations, Dynamic Pricing
Besides this, some other secondary sources referred to forecast the prospectus of Artificial intelligence is known as the association: European Association for Artificial Intelligence, Canadian Artificial Intelligence Association. However, we inspire other vendor offerings to determine market behaves. By Resulting in the overall market size, the verifications are being done with key people such as CEOs, VPs, directors, and executives.
Top AI Companies Working Consistently in the Aviation Industry
The moderately fragmented aviation market gives a big hope in global artificial intelligence. It offers a detailed analysis of the competitive landscape of the market alongside several products offered, and the AI report will help everyone in identifying and designing new growth strategies.
Several AI companies in aviation, including Amazon, Intel, Airbus, IBM, Microsoft, and many more, are working towards AI in the aviation market.
- Application of Artificial Intelligence
- Airport and Airline Operations
- MRO and Manufacturing Activities
In the year 2017, the largest segment of the global AI application was covered by airport and airline operations. This segment will surely dominate the market in the upcoming years as the market share of it will hike up further.
Key Highlights of Forecast Years 2018-22
As per the estimations, AI (Artificial Intelligence) will grow 46.65% CAGR from 2018 to 2025. In the year 2018, the value of AI in the aviation market was USD 152.4 million, and it will reach USD 2222.5 million expectedly in the year 2025. So, CAGR during the forecast period would be 46.65%.
The factors pushing the growth of AI in the aviation market are:
- Big data in the aviation market
- Rising adoption of cloud-based services & application
- Considerable increase in capital investments
The only issue that this market is facing is the limited experts available for the growth of AI in the aviation market.