The inflight entertainment & connectivity market is projected to reach USD 7.65 billion by 2023, at a CAGR of 8.72% from 2018 to 2023, reports Marketsandmarkets. The base year considered for the study is 2017, and the forecast period is from 2018 to 2023.
Based on end user, the IFEC market is segmented into OEM and aftermarket. The OEM segment is estimated to lead the market in 2018. Commercial aircraft manufacturers such as Airbus and Boeing are currently focusing on installing enhanced in-flight entertainment systems, which are currently in production. Hence, the OEM segment is expected to lead the in-flight entertainment & connectivity market during the forecast period.
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Based on aircraft type, the IFEC market is segmented into narrow-body aircraft, wide-body aircraft, very large aircraft, and business jets. The narrow-body aircraft segment is expected to lead the IFEC market during the forecast period. The growth of the narrow-body aircraft segment can be attributed to an increase in narrow-body aircraft deliveries worldwide. Airlines are presently replacing the older fleet of narrow-body aircraft with the introduction of latest aircraft, such as the A320neo and the 737 Max. They are also focused on the procurement of the next-generation narrow-body aircraft to improve profitability.
Based on product, the market is segmented into IFE hardware, IFE connectivity, and IFE content. The IFE hardware segment is projected to lead the IFEC market from 2018 to 2023. Several market players are developing portable equipment to accommodate more seats, thereby reducing the operating cost of aircraft. Additionally, hardware providers of IFEC systems are taking advantage of the connectivity option that offers content streaming solutions.
The geographical analysis of the in-flight entertainment & connectivity market includes regions, such as North America, Europe, Asia Pacific, and Rest of the World. North America is estimated to lead the in-flight entertainment & connectivity market in 2018. The aviation industry is one of the most profitable industries in North America, with major aircraft manufacturers, such as Boeing (US), Bombardier (Canada), Lockheed Martin (US), Bell Helicopter (US), and Sikorsky Aircraft (US) in the region. inflight entertainment market