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Artificial Intelligence in Aviation Market Size

Report ID: GMI6442
Published Date: Aug 2023
Report Format: PDF

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AI in Aviation Market Size

The AI in aviation market size was valued at USD 686.4 million in 2022 and is projected to register a CAGR of over 20% between 2023 and 2032. AI can analyze vast amounts of data to identify potential safety risks, predict equipment failures, and assist in proactive maintenance, thereby enhancing overall safety in aviation operations.

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For instance, Searidge Technologies' DATMS (Digital Airport Traffic Management System) uses AI to automate traffic control at airports, reducing the risk of human error. The system uses radar and video cameras to track aircraft and vehicles on the ground and can automatically activate or deactivate traffic lights based on the current situation, helping reduce tarmac incidents at airports that use DATMS

AI in Aviation Market Report Attributes
Report Attribute	Details
Base Year:	2022
AI in Aviation Market Size in 2022:	USD 686.4 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	20.5%
2032 Value Projection:	USD 4.04 Billion
Historical Data for:	2018 – 2022
No. of Pages:	200
Tables, Charts & Figures:	278
Segments covered:	Offering, Technology, Application
Growth Drivers:	Growing adoption of smart airports Increasing use of big data in aerospace industry Growing adoption of artificial intelligence to enhance customer services The rapidly increasing investments by the aerospace companies Increasing demand for autonomous systems in aviation
Pitfalls & Challenges:	Lack of skilled professionals Data privacy and security

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Manufacturers worldwide are focusing on developing AI-enabled autonomous drones and aircraft for specific tasks, such as cargo delivery or surveillance, stimulating AI in aviation market revenue streams. Quoting an instance, in January 2023, Aurora Flight Sciences completed the first test flight of an all-electric autonomous passenger aircraft, eFanX. It is a fixed-wing aircraft that can carry up to six passengers, is powered by two electric motors, and has a range of up to 200 miles.

However, the aviation industry is heavily regulated for safety reasons, and the introduction of AI systems raises concerns about their reliability, accountability, and potential to make critical decisions. Ensuring that AI systems meet stringent safety standards and obtaining regulatory approvals can be a complex and time-consuming process, limiting their rapid adoption. Besides, implementing AI technologies requires significant investments in infrastructure, data collection, software development, and staff training. Many aviation companies, particularly smaller ones, may face challenges in allocating resources for AI integration, thereby slowing down its widespread adoption.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of AI in aviation reached USD 686.4 million in 2022 and is set to register a CAGR of over 20% between 2023 and 2032, as it can identify potential safety risks and assist in proactive maintenance, thereby enhancing overall safety in aviation operations.

The machine learning segment held a market share of around 32% in 2022, due to its ability to analyze vast datasets and improve decision-making.

The North America market recorded over 39% of revenue share in 2022, backed by the region's advanced technological infrastructure, strong emphasis on innovation, and significant investments in R&D.

Samsung Electronics, Intel, Xilinx, Thales, IBM, Amazon, Nvidia, Microsoft, Garmin, Lockheed Martin, Boeing, Micron, Airbus, General Electric.