The adoption of the aviation analytics by most of the organizations is due to the fact that these solutions help them to develop their operational performance, maintenance, and profitability. In order to cater the upcoming demands such as the requirements of the customer, the organizations are adopting aviation analytics, which offers to improve the analytical resolution and also helps in maximizing the operating revenue of the organizations. The various applications for which the aviation analytics solutions are being utilized in the aviation industry include fuel management, revenue management, customer analytics, and risk management. The solutions of aviation analytics provide the enterprises with facilities such as to monitor, measure, and analyze their business goals, challenges, and future plans regarding the growth of the enterprise.
The market for the aviation analytics is globally fragmented into its verticals and end user. Based on the verticals, the global market is segregated into operations, maintenance & repair, finance, sales & marketing, and supply chain. Based on the end user, the market is categorized into airports and airlines.
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In the current scenario, the market vendors of the aviation analytics are concentrating on improving their analytics and intelligence solutions so that they can improve their business profitability which turns out to be the major factor that will drive the aviation analytics market. There has been an increased emphasis on the management of the jet fuel which is the other factor that is driving the aviation analytics market. The factor that is positively affecting the aviation analytics market is the rise in the demand for the real-time analytics in the industry of aviation. In addition, the growing centricity in the sector of aviation industry will fuel the growth of the market in the coming years. The lack of availability of the analytical skills is the key challenge that is faced by the manufacturers of the aviation analytics market.
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The market for aviation analytics is geographically diversified into the Latin America, Middle East & Africa, Eastern Europe, North America, Western Europe, and Asia Pacific. The region that holds the major market share of the aviation analytics market is North America. The factor that contributes to the market growth includes the increased adoption of the industrial aviation analytics by the different enterprises in order to enhance their operational performance. Asia Pacific and Western Europe are following the footsteps of North America region. The factors that attribute to the slow market growth in these regions are less adoption of the aviation analytics by the organizations and less awareness about the technology.
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The key market players that are involved in the aviation analytics market include Oracle Corporation, General Electric, SAS Institute, Ramco International, Booz Allen Hamilton, IBM Corporation, SAP SE, Aviation analytics Ltd., and Mu-Sigma.