Tuesday, May 28, 2024 Technavio estimates that the global market for artificial intelligence in aviation will expand by USD 3.64 billion between 2023 and 2027. During this forecast period, the market is expected to achieve a Compound Annual Growth Rate (CAGR) of 43.
13%. Scope of the Artificial Intelligence in Aviation Market Market Drivers The global AI in aviation market is witnessing significant advancements and innovations. A standout example is Microsoft’s Project AirSim, an extensive autonomous flight platform powered by Azure.
This system leverages high-fidelity simulations to develop, train, and test autonomous aircraft, generating copious amounts of data for AI model training. Development is robust across various areas such as technology, hardware, services, software, virtual assistants, and more. Specific focus areas include dynamic pricing, surveillance, flight operations, training, computer vision, system efficiency, and security.
The market also sees growth in skilled labor, data analysis, baggage screening, passenger identification, maintenance, customer support, facial recognition, fuel efficiency, productivity, pilot efficiency, and various other factors. Market Challenges Artificial Intelligence is revolutionizing the aerospace sector, including applications in cloud-based technologies, airlines, airports, and airways. Companies like Tata Power, Autogrid, SparkCognition, and SkyGrid are leading the deployment of AI in air transport, enhancing customer servic.