In-flight Entertainment Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022
Albany, NY -- (SBWIRE) -- 11/03/2017 -- The global in-flight entertainment market is foretold to enhance its growth on the back of new technological development and improving passenger experience. In-flight entertainment is studied to be a considerable source of ancillary revenue for airlines. Major airliners focusing on the facilitation of advanced in-flight entertainment and the growing prominence of narrow body aircrafts could up the growth of the market in the coming years. Aviation being one of the most profitable industries in North America could help the region to post an astounding growth in the foreseeable future. Trends such as the introduction of Wi-Fi services in aircrafts could push the market further.
The global in-flight entertainment market, according to Transparency Market Research (TMR), is expected to be valued at a US$6.4 bn by the completion of 2022 at a 12.7% CAGR that could be maintained during the forecast period 2017-2022. In 2017, the market achieved a valuation of US$3.5 bn.
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Global In-flight Entertainment Market: Major Insights
The international in-flight entertainment market is forecast to gain a boost in its growth due to technological evolution brought about by top companies such as Rockwell Collins and Panasonic Avionics. Currently, Airbus uses Paves on-demand in-flight entertainment systems developed by Rockwell Collins. Other services such as live TV and audio-video on demand are popularly provided by Panasonic Avionics through its eXO systems. Substantial improvements made in in-flight entertainment connectivity, such as the adoption of satellite and air-to-ground (ATG) networks, could help the market to up the demand in the coming years.
The international in-flight entertainment market is foreseen to be cataloged according to component, fit, and application. With respect to component, the market could be segregated into in-flight entertainment hardware, communication system, connectivity system, and support services. As per the analysts, in-flight entertainment hardware is predicted to account for a lion's share in the market. It could expand at a 15.2% CAGR. By fit, the market could include two segments, viz. line fit and retrofit. In terms of application, moving map system, audio system, video system, in-flight games, and network connectivity are expected to be among the primary segments.
By region, North America is anticipated to grab the spotlight while making a massive revenue in the international in-flight entertainment market. By 2022, the region could earn a US$2.2 bn. Japan and Asia Pacific Excluding Japan (APEJ) are foretold to exhibit a strong growth in the market. Japan secured a 15.4% share in 2017. APEJ, on the other hand, is envisioned to gain 33 basis points (BPS) by 2022 over 2017. However, the Middle East and Africa (MEA) and Europe could struggle in the market. By the end of the forecast period, Europe is projected to be valued at a US$1.5 bn.
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Global In-flight Entertainment Market: Vendor Landscape
The world in-flight entertainment market is envisaged to witness the presence of leading players such as Thales Group, Rockwell Collins, Inc., Gogo LLC, Honeywell International, Inc., Zodiac Aerospace, Global Eagle Entertainment, ViaSat, Inc., Panasonic Avionics Corporation, and FDS Avionics Corp. New product launch and product extension could intensify the competition in the market.