PUNE, India, March 23, 2020 /PRNewswire/ -- The global in-flight entertainment & connectivity market is predicted to reach USD 9.92 billion by 2026, exhibiting a CAGR of 8.18% during the forecast period. The growing advancements in IFEC technologies to enhance the overall aircraft performance will accelerate in-flight entertainment & connectivity market trends. The rising focus of manufacturers towards safety operations to benefit passengers will have a positive impact on the in-flight entertainment & connectivity market growth during the forecast period. In addition, the increasing demand for hassle-free internet access, web browsing, and video streaming in flights will spur new opportunities for the in-flight entertainment & connectivity market in the forthcoming years.
According to the report, published by Fortune Business Insights, titled "In-Flight Entertainment & Connectivity (IFEC) Market Size, Share and Global Trend by Product (IFE Hardware, IFE Connectivity, and IFE Content), By Class (First Class, Business Class, Premium Economy Class, and Economy Class), By Aircraft Type (Narrow Body Aircraft, Wide Body Aircraft, Business Jets and Regional Aircraft), By End User (OEM and Aftermarket), and Regional Forecast, 2019-2026" the market size stood at USD 5.40 billion.
The in-flight entertainment & connectivity market report focuses on demonstrating a complete assessment of the market. It contains facts, thoughtful insights, historical information, industry-validated market information, and projections with a suitable set of assumptions and methodology. It offers valuable insights into all the notable developments of the market. It shares a complete overview of all the segments and parts of the in-flight entertainment & connectivity market analysis, while providing statistical data on all the regions. It is created after extensive research followed by an all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. Moreover, it also includes product launches, acquisitions, collaborations and partnerships, and industry developments.
List of Major Companies Operating in the In-Flight Entertainment & Connectivity Market Include;
Acquisition of Collins by digEcor to Aid Market Expansion
digEcor, a passenger solutions service company announced the acquisition of Collins' commercial inflight entertainment (IFE) business, making it the third biggest IFE player in the market. The deal between the two companies will bolster healthy growth of the market during the forecast period. The Collins' PAVES family of seatback and overhead IFE systems, as well as PAVES On-demand, Total Entertainment System (TES), Enhanced Total Entertainment System (ETES) and content services, along with the combination of digEcor's GLIDE, Engage, power, PSS and lighting products will boost the in-flight entertainment & connectivity market revenue in the foreseeable future.
Moreover, CEO of digEcor, David Withers, said in a statement, "Collins deal will position us as "the number three player in the IFE market – and we are not stopping there. We will achieve our vision of taking the passenger experience to the next level by collectively bringing the right new technology to market and leveraging our engineering expertise and proven ability to rapidly develop and certify new products."
High Complexities of IFEC System to Restrict Market Growth
One of the biggest challenges faced by the OEMs to deliver in-flight entertainment & connectivity system at minimum weight, minimum volume, along with less maintenance cost. This factor will subsequently dampen the growth of the market in the forthcoming years. The IFEC systems. The IFEC systems include expensive hardware, which comprises of wires, displays, monitors, actuators, gaming consoles, and others. Likewise, the high cost of the aircraft hardware and product innovation will consequently restrict the growth of the market.
Presence of Hefty Manufacturers to Encourage Growth in North America
The market in North America stood at USD 1.70 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the presence of major OEMs in the region. Europe is predicted to witness high demand for IFEC systems in the foreseeable future owing to the rising emphasis for the advancement of in-flight entertainment & connectivity by manufacturers. Asia Pacific is predicted to grow significantly during the forecast period due to the surge in commercial aircraft deliveries in developing countries such as India and China.
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