Promising Growth Opportunities Shaping the Commercial Aerospace Digital Solutions Sector
Data-centric next-generation technologies to enhance the future growth potential of commercial aerospace
Digitalization is a ubiquitous strategy essential to sustain business and growth in a post-pandemic economy. High penetration and improvement of digital solutions and accompanying hardware have made digitalization affordable and customizable. The commercial aerospace digital solutions market is captured by identifying digital R&D investment and the annual digital expenditure for each stakeholder. Digital investment is broadly considered a part of Information Technology (IT) investment, except for a few major industry stakeholders that have dedicated digital investment and teams for implementing and monitoring progress. Digitalization covers the investments and efforts by a firm to move toward digital processes, reduce cost overheads, and identify new revenue streams. Investments in mobile solutions, cloud computing, the Internet of Things, and Artificial Intelligence are some of the major focus areas for digitalization.
The study is segmented into 4 key commercial aviation segments: airlines; airports; maintenance, repair, and overhaul (MRO); and original equipment manufacturer (OEM).
Growth factors were identified for each airline type. The parameters for full-service carriers were economic strength (in terms of GDP percentage growth) and levels of passenger traffic and tourism; for low-cost carriers, levels of domestic passenger traffic and smartphone/internet penetration; and for cargo carriers, the level of international freight movement.
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