The aviation business is changing due to 5 main factors: society, environment, politics, economy, and technology. Unfortunately, technology is starting to overshadow societal, environmental, political, and economic concerns in the aviation business, which are beyond our ability to influence.
The aviation industry is in more of a dynamic state, with futuristic, alternative transport modes like Hyperloop and the prominence of advanced AR/VR technology. Although air travel remains the favored method for long-distance trips, the situation could change if the industry adapts to trailblazing technologies, such as AI, Big Data, Biometrics, Blockchain, and In-flight connectivity.
Regarding winglets, composite materials, propulsion systems, and other advancements in aviation technology, business aviation has long been at the vanguard. Promising aviation technologies like eVTOL, advanced air mobility, unmanned traffic management, unmanned aircraft systems, and commercial space now have the potential to help businesses and communities greatly.
A study predicts that the market for aviation software will increase from $4 billion in 2022 to $10 billion in 2033, growing at a CAGR of 12% between 2023 and 2033. The market for software includes airline reservation systems, flight planning and navigation software, crew and fleet management systems, and air traffic control software.
Additionally, new flight planning software solutions that can aid airlines and airports in enhancing productivity, lowering costs, and improving the passenger experience are being developed due to the adoption of digital technologies.
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