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Aviation IoT Market Size Worth $22.51 Billion By 2028 | CAGR: 21.4%: Grand View Research, Inc.SAN FRANCISCO, Jan. 20, 2021 /PRNewswire/ -- The global aviation IoT market size is anticipated to reach USD 22.51 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 21.4% from 2021 to 2028. The aviation industry is tectonically shifting toward automated and intelligent systems in line with the continued advances in technology. At this juncture, IoT (internet of things) devices are emerging as crucial devices for the incumbents of the aviation industry to gather real-time data and derive actionable insights. Key suggestions from the report:
Read 104 page research report with ToC on "Aviation IoT Market Size, Share & Trends Analysis Report By Application (Ground Operations, Passenger Experience, Aircraft Operations, Asset Management), By End-use, By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/aviation-internet-of-things-market The aviation industry is continuously adopting a digital ecosystem and is subsequently set to generate large volumes of data. The development of a more recent version of the Internet Protocol (IP), Internet Protocol version 6 (IPv6), has already imprved the data handling capability and the overall functionality. The introduction of low-power terrestrial networks in L-band to support 5G connectivity is expected to further enhance the data transfer capacity, thereby encouraging the deployment of IoT-compatible devices in the aviation industry. IoT is expected to play a critical role in weather forecasting as well as monitoring various systems of the aircraft in real-time. Monitoring the weather using advanced sensors and analyzing the gathered weather data can help airlines in making crucial decisions in real-time and choosing alternative flight routes. Similarly, deploying IoT sensors and devices inside the aircraft can help in monitoring engine performance and subsequently reducing fuel consumption and improving the profit margins. Grand View Research has segmented the global aviation IoT market by application, end-use, and region:
List of Key Players of Aviation IoT Market
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Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg
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