In-Flight Entertainment (IFE) Market Is Expected To Grow At The CAGR Of 13.07% During The Period 2017 To 2023.
In order to provide better and unique flying experience, airlines are equipping their fleets with advanced In-Flight Entertainment (IFE) systems. Moreover, connectivity within the flight has become an important catalyst in airline’s day-to-day operations and it provides the operator with the opportunity to enhance customer loyalty and satisfaction. Airlines, across the world, are widely adopting Air-to-Ground (ATG) and satellite networks to avail this facility. Meanwhile, the conventional (embedded or seat-back) in-flight entertainment system implementation necessitates sizable investment and extensive cabling that adds bulk and weight to seats, causing the aircraft to burn fuel more quickly, ultimately increasing the cost of air travel. Therefore, owing to these factors, along with the emerging trend of personalization and wireless IFE concept, airlines are focusing on streaming content to passengers’ device.
Market Research Analysis
In terms of platform, narrow-body segment accounted for the largest market share of 66.94% in 2016, with a market value of USD 2,206.4 million. Although the narrow-body aircraft has a lesser capacity than the wide-body aircraft, they are larger in number. Some major narrow-body aircraft are Airbus A318, A319, A320, and A321, and Boeing B727s and B737s. These planes generally fly over short routes and are, thus, suited to cater to budget travelers. Moreover, there has been a rise in the number of low-cost carriers in the recent years, which has propelled the market for narrow-body planes, globally. Therefore, the narrow-body aircraft segment in the in-flight entertainment market is estimated to grow at the highest CAGR of 13.43%.
On the basis of product type, the connectivity & communication segment is poised to grow at the fastest pace during the forecast period. The connectivity & communication segment comprises all the aspects (both tangible and intangible) that aid in establishing in-flight connections. It includes onboard mobile telephony systems, onboard internet, and power access, among others. It is further segmented into wired and wireless. In-flight connectivity was limited to only a few airlines a couple of years ago but now, many airlines are veering towards providing onboard communication and connectivity solutions, so that passengers can stay in contact with people on ground.
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