Aviation Asset Management Market 2022: Leading Players, Segments Analysis and Growth Drivers by 2030

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Aviation Asset Management Market Report 2022 and
Growth Forecast by 2030
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Global Market Scenario of Aviation Asset
Management Industry
In view of the increasing demand for air travel
in the last couple of decades and swift strides
in the aviation sector, airports worldwide are
facing intense capacity constraints. The rising
obligation for managing and operating the complex
as well as interconnected infrastructure and
services at airports has necessitated an
intricate collaboration of efficient use of
resources and diverse workforces. In this regard,
the aviation asset management market is
anticipated to be on the cusp of rapid expansion
in the near future. Lately, airports are
leveraging asset tracking solutions for
generating real-time reports, improving
operational efficiencies, and creating better
travel experiences. Aircraft asset management
revolves around proactively managing the
services, parts, and costs of maintaining one and
more aircrafts useful life, starting from
initial acquisition to final disposition. Besides
offering lowered fixed and variable maintenance
costs, this technology assists airports in
monitoring important physical assets, including
inventory, machinery, devices, and personnel and
caters to the rising preference for end-to-end
service providers. When paired with digital
mapping and indoor positioning tools, these
tracking solutions assist facility managers with
an accurate visual representation of the assets
in the airport in real time.
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Continue-
Listed below are some important factors driving
the global aviation asset management market
share, which is expected to exceed USD 300
billion in yearly revenue by 2030. 1 Increasing
adoption of helicopters for emergency
applications In order to serve multiple
emergency management services, including
emergency pregnancy, trauma care, disaster
management, and paediatric transportation, the
demand for helicopters is reaching considerable
heights. In fact, the HEMS (Helicopter Emergency
Medical Services) tool is specially designed for
meeting the needs related to low-altitude VFR
emergency first responders. Because of this
rising application potential, asset tracking
technology has grown significantly prominent in
helicopters as it helps to increase the parts
maintenance efficiency, enhance inventory
management, and reduce costs.
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2 Growing reliance of the logistics sector on
cargo aircraft The aviation asset management
industry is set to witness considerable momentum
with the rapid advances in the logistics sector
and the rising popularity of air shipping as an
efficient and fast means of transport for goods.
According to IATA (International Air Transport
Association), airlines transport more than 52
million metric tons of goods per year. As the
air cargo industry constitutes many manual
processes, the use of asset management solutions
is witnessing a significant rise. The growing
efforts placed by aircraft frontrunners, like
Boeing on expanding the fleet of commercial
aircraft and the rising number of investments
will influence the industry dynamics. Stating an
example, in September 2022, Chorus Aviation sold
8 of its aircraft for 45 million.
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Competitive Analysis
3 Preference for end-to-end asset management
among airline operators As air terminals look
for improved operational performance and
timesaving, airline operators are increasingly
deploying asset management solutions for ideal
outcomes. This technology is also helpful for the
maintenance of lots of equipment as well as
vehicles including aeroplanes. Besides improving
the performance of aeroplanes, aviation asset
management helps with the scheduling, and time
departing for customer satisfaction. The ongoing
technological advancements have pushed leading
digital business contenders to place targeted
efforts on offering effective solutions to
aircraft operators. For instance, GE Digital, in
July 2022, signed an MoU (Memorandum of
Understanding) with Microsoft and Teradata to
combine high-fidelity digital data and analytics
with cloud technologies for standardized
reporting in aircraft operations.
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