Artificial Intelligence in Aviation Market – Global Industry Analysis and Forecast (2017-2026) _ by Offering (Hardware, Software), by Technology (Natural Language Processing (NLP), Context Awareness Computing, and Others), by Application, and by Geography.
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The Artificial Intelligence in Aviation market is expected to grow from USD 109.4 Million in 2017 to USD 3359.05 Million by 2026.
Artificial Intelligence in Aviation Market is segmented by
The key factors driving the development of the AI in aviation market contain the custom of big data in the aerospace industry, major surge in capital investments by aviation companies, and increasing adoption of cloud-based applications.
Machine learning is expected to have maximum number of market share during forecast period.
Machine learning allows systems to automatically increase their performance with involvement. This technology embraces a key share of the AI in aviation market due to its facility to collect and hold big data, with its improved ability to do earlier difficult calculations.
Hardware is expected to grow at highest CAGR rate during forecast period.
The development of the market for hardware can be recognised to the growing need for hardware platforms with great computing power to run several machine learning algorithms both on servers and on devices. AI systems need current hardware to show intelligent capabilities like to the human brain.
Surveillance is expected to have maximum number of share during forecast period
The development of the market for surveillance applications can be credited to the constant developments in the field of AI-enabled drone surveillance, specifically designed for inspection purposes in the aviation industry. Inspection purposes product launches and developments are anticipated to push the development of the AI in aviation market for surveillance applications towards north
North America is expected to have the largest market share
Virtual assistance, smart maintenance, manufacturing, and surveillance are some key application areas in North America. Additional, the US is one of the important countries in the world in terms of accepting AI technologies in many application areas. Continuous development in air travellers is boosting airline companies to accept all.