Research and Markets has launched a new report entitled “In-Flight Entertainment & Connectivity (IFEC) Market by Product Type, Aircraft Type & Fit – Analysis & Global Forecasts to 2020”.
The report predicts the global in-flight entertainment and connectivity (IFEC) market will be valued at $5.8bn by 2020.
This figure is up from $2.85bn in 2015, and is growing at a CAGR of 15.23% from 2015 to 2020.
It says the market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is expected to grow at the fastest rate.
The wireless and seat-centric solutions being adopted by increasing number of airlines in the region has enabled Asia-Pacific to be the fastest-growing during the forecast period.
IFEC and passenger experience
Furthermore, it says enhancing the passenger experience will act as a growth driver in the region.
The report segments the IFEC market on the basis of product type, aircraft type, fit, and region. By product type, the market is categorised into connectivity, content, and hardware.
By fit, the market is segmented into retrofit and linefit. The linefit segment is expected to account for the larger market share during the forecast period.
The factors that are driving the growth of the IFEC market are enhancing the passengers experience, exponential growth in the data usage on the ground and in the air, increase in the demand for large cabin business jets, and wireless and seat-centric solutions being adopted by increasing number of airlines.
Whereas, the factors that are restraining the growth includes high installation cost, and content management and up-gradation. However, increase in the long-haul flight market offers new growth opportunities for the market players.
In 2015, the hardware segment is estimated to account for the largest market share.
Companies mentioned in the 80-page $4,650 report include Digecor, Gogo, Honeywell, Lufthansa Systems, SITAONAIR, Panasonic Avionics, Rockwell Collins, Thales, ViaSat, and Zodiac Aerospace.
For more information visit: http://www.researchandmarkets.com/research/cvpcmh/inflight