The penetration of AI has opened up a plethora of opportunities in the aerospace industry, specifically. Reports that explore the information and communication technology industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. A CAGR of 46.83 % is expected to lead the market to revenues worth 1014.81 Mn by the end of 2023.The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.
Detailed Regional Analysis
The regional study of Covid 19 AI In Aviation Market has been segmented into regions such as Europe, North America, Asia Pacific, and others. The North American region is governing the AI in aviation market due to the speedy expansion of the aviation industry, easy implementation of technologically advanced solutions in numerous industrial sectors and present advances in the artificial intelligence technology in this region. The European region is foreseeing momentous growth in the AI in aviation market owing to the augmented research and progress in the domain of artificial intelligence technology in this region. The AI in aviation market in the APAC region is increasing at the fastest progress rate due to the amplified investment for the advance of aviation industry in this region. The absence of progressive technology and underprivileged economic conditions are restricting the development of the AI in aviation market in the MEA region.
Competitive Analysis
The foremost companies functioning in the AI in aviation market are Garmin Ltd., IBM Corporation, Airbus SE, Boeing, General Electric, Amazon, Microsoft Corporation, Micron Technology, Intel Corporation, Lockheed Martin Corporation, NVIDIA Corporation, Neurala Inc., Samsung Electronics, Xilinx, Thales S.A., Innovative Binaries, Northrop Grumman Corporation, Pilot AI Labs, IRIS Automation, Cognitive Code and Searidge Technologies.
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