In-Flight Entertainment Market size, demand analysis, growth rate and 2023 forecast scrutinized in new research
Global In-flight Entertainment (IFE) Market Scenario
As per a detailed analysis by Market Research Future (MRFR), the global in-flight entertainment (IFE) market is anticipated to garner USD 7,756.8 million, registering a CAGR of 13.07% during the forecast period (2014-2023). The market is gaining prominence due to advanced technologies like in satellites, and air-to-ground networks, which are augmenting onboard connectivity. In-flight entertainment can be defined as the entertainment which generally targets the potential consumers, onboard an aircraft to improve their flying experience. It entertains in the form of videos, e-books, movies, games, and others.
Global In-flight Entertainment (IFE) Market Potential and Pitfalls
The onboard connectivity is gaining momentum in aircraft and has become a necessity rather luxury due to the advancing technologies in air-to-ground networks and satellites. With the surging passenger traffic and the rising number of aircraft deliveries, the in-flight entertainment market is likely to gain prominence. The airline industry has undergone drastic changes and influenced by the changes in technologies over the past few years.
Airline technology not only transports travelers from one destination to another but also provides an entertaining travel experience to their customers. There is increased use of personal devices for availing in-flight entertainment service. Most of the North Asian passengers prefer using their own devices over the embedded ones for viewing digital content. The increase in long-distance flights is also considered a driving factor as entertainment devices make long journeys enjoyable and comfortable. The market is soon expected to enter the next phase with the incorporation of virtual reality. For instance, companies like Skylights and Inflight VR are teaming up with airline bigshots like Airbus and are developing innovative technologies in order to improve the customer experience.
On the contrary, gadgets increase the weight of the flight, which hurts the consumption of fuel. Also, extensive care is required for the maintenance as arcing, and voltage leaks can act as major restraining factors curbing the growth of in-flight entertainment market across the globe.
Global In-flight Entertainment (IFE) Market: Segmental Analysis
The global in-flight entertainment (IFE) market has been segmented on the basis of platform, product type, and service type.
By mode of the platform, the in-flight entertainment (IFE) market constitutes of wide-body, narrow-body, and business jets. Among these, the narrow-body segment occupied the largest share of 66.94%. The market touched a valuation of USD 2,206.4 million in 2016 and is anticipated to expand at a CAGR of 13.43% in the long run.
The product-type segment of in-flight entertainment (IFE) market comprises connectivity & communication and hardware. Among these, the hardware segment acquired the largest market share of 61.02% in 2016. The segment is anticipated to expand at a CAGR of 12.55% in the long run.
Video display systems, flight tracker, data connectivity, and others comprise the service type segmentation of in-flight entertainment (IFE) market. Among these, the video display systems bag the largest share. The segment acquired a share of 51.94% in 2016 with a valuation of USD 1,711.9 million in 2016. The segment will expand at a CAGR of 13.17% in the foreseeable future.
Geographically, the in-flight entertainment (IFE) market span across regions namely, Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Considering the global scenario, North America acquired the largest market share of 32.99%. The regional market touched a valuation of USD 1,087.3 million in 2016 and is likely to expand at 13.05% CAGR in the foreseeable future. The presence of prominent in-flight entertainment companies like Panasonic Avionics Corporation, Global Eagle, and Gogo is encouraging the market growth. The high availability of technologies to deliver in-flight solutions with the help of different platforms is considered to favor the market growth in the coming years. It is also anticipated that around 10,000 aircraft will be in service by the end of 2035. This is likely to create growth avenues for the regional market.
The Asia Pacific region is likely to register a significant growth rate due to the presence of emerging nations like China and India. These regions have showcased tremendous in airline transportation due to privatization.
April 28, 2019: National airline, Air India has recently planned to install WiFi-based in-flight entertainment (IFE) across its entire fleet. This will further help to reduce its dependence on offering IFE through seatback screens.
The prominent players operating the global in-flight entertainment (IFE) market comprises Global Eagle Entertainment Inc. (U.S.), FDS Avionics Corp. (U.S.), Honeywell International Inc. (U.S.), Gogo Inc. (U.S.), Lufthansa Systems (Germany), Inmarsat Plc (U.K), Rockwell Collins, Inc. (U.S.), Panasonic Avionics Corporation (U.S.), Thales Group (France), SITAONAIR (Switzerland), Zodiac Aerospace (France), and Viasat Inc. (U.S.).
Global In-Flight Entertainment industry Research Report: Information by Platform (Narrow-Body Aircraft, Wide-Body Aircraft and Business Jets), Product Type (Hardware and Connectivity & Communication), Technology (Air-to-Ground Technology and Satellite Technology), Service Type (Video Display Systems, Data Connectivity, Flight Tracker and others) and Region (North America, Europe, Asia-Pacific, the Middle East & Africa and Latin America) - Forecast till 2025 @ https://www.marketresearchfuture.com/reports/in-flight-entertainment-market-5808