Digital Transformation in Aviation Industry: Introduction
- Digital transformation in aviation industry is growing at a high rate, with increase in competition among players in the aviation industry
- Use of digital technologies provides a competitive edge to users and ensures business growth
- Digital transformation in aviation industry has resulted in increased process automation and improved service speed. Furthermore, it has helped the airlines to offer personalized service to the clients.
- Digital transformation in aviation industry is not an option anymore, it is a necessity. Aviation industry has been at the forefront of adopting digital technologies. However, with continuous increase in passenger traffic and need for cost reduction, demand for digital transformation in aviation industry is expected to increase further at a rapid pace, in the next few years.
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Key Drivers of Digital Transformation in Aviation Industry
Cutthroat Competition among Market Players in Aviation Industry to Boost Digital Transformation in Aviation Industry
- One of the most important drivers of the digital transformation in aviation industry is increased competition among airlines. Number of airlines is continuously increasing. According to IATA (International Air Transport Association), nearly 1300 new airlines were introduced in the last 40 years, across the globe.
- Increase in number of airlines leads to increased cost-based competition. Airlines are making efforts to offer improved and differentiated services to the passengers, in order to differentiate themselves from their competitors.
- The usage of digital technology is expected to increase at a high rate in the next few years, owing to fast and personalized services offered by digital transformation
Rise in Passenger Traffic in Developing Countries to Increase Digital Transformation in Aviation Industry
- Another factor expected to fuel the demand for digital transformation in aviation industry, is the continuously growing passenger traffic, especially in developing countries
- Countries such as India, China, and Indonesia are witnessing significant growth in the passenger traffic due to increased disposable income and improved standard of living. Airlines operating in these countries are making efforts to reduce their operational cost and provide efficient services. This growth in passenger traffic is expected to propel the digital transformation in aviation industry.
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Digital transformation in aviation industry: Competitive Landscape
The top five players are expected to account for 20% to 25% share of the global digital transformation in aviation industry. Key players operating in the global digital transformation in aviation industry include:
- Aeronet Aviation Software Solutions
- Cincom Systems, Inc.
- Complete Aviation Solutions Pty Ltd
- Intersystems Group
- Proavos Labs