Albany, NY, March 10, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research “Commercial Aviation Crew Management System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” global commercial aviation crew management system market was valued at US$2.09 bn in 2014, growing at a CAGR of 8.8% from 2015 to 2023 to account for US$4.39 bn by 2023.
The market for crew management system in the global commercial aviation industry is primarily being driven by the escalating emphasis in improving the optimization of resources, which leads to improving operational efficiencies. The growth in demand for real time data and adoption of advancing technologies in order to reduce additional cost are the key driving factors for the global commercial aviation crew management system market. Coupled with the rising air traffic and the positive transformation of the global commercial aviation industry, the demand for advanced automated systems among airlines, airports and other buyers is on escalation worldwide.
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The global market for crew management systems has been segmented on the basis of type and geography. Based on the segmentation by type, the global market for commercial aviation crew management system is categorized into software, hardware and services. The software segment is estimated to dominate the global market throughout the forecast period and register a growth rate of 8.9% from 2015 to 2023 globally. Following software, the hardware segment is currently estimated to account for the second largest share in the global commercial aviation crew management systems market. The fastest growing segment is estimated to be the services, which are expected to experience major surge in demand over the forecast period from 2015 to 2023.
The airlines worldwide are in constant pursuit of expanding their fleet and employee strength to sustain in the competition and improve their market share. The segmentation based on geography includes, North America, Europe, Asia Pacific and Rest of the World (RoW) which comprises of Middle East, Africa and South America. North America is estimated to account for the largest market share in the global commercial aviation crew management system market and is expected to continue its dominance during the forecast period. Factors such as the rising demand for real time data, increasing competition among airlines, airports and IT solution providers in the region and increasing air traffic are considered to be the major drivers of the market for crew management system in the commercial aviation industry of North America. Following North America, the commercial aviation crew management system market in Europe is estimated to be growing at a steady pace over the forecast period. Europe is currently estimated to account for the second largest share in the global commercial aviation crew management system market.
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The Asia Pacific (APAC) is estimated to be the fastest growing market for commercial aviation crew management system. The growth of the APAC commercial aviation crew management system market is attributed to the rising number of low cost carriers, increasing air passengers and improving infrastructural conditions in aviation sector. Similarly, the Rest of the World (RoW) market for commercial aviation crew management system is currently being influenced by the concerns to upgrade the existing operational processes. Middle East is analyzed to be the largest market in the RoW region followed by Africa and South America.
Full Research Report on Global Commercial Aviation Crew Management System Market
The report includes the market revenues of 10 major countries in the global commercial aviation crew management system market. Moreover, the key industry players have been profiled on the basis of company overview, financial overview, business strategies, and key developments in the field of crew management systems. Major market participants profiled in this report include Sabre Corporation, Hexaware Technologies Ltd., AIMS Corporation, IBS Software Services, Hitit Computer Services, Jepessen Sanderson, Inc., Lufthansa Systems, Prolog Development Centre A/S and BlueOne Management S.A./N.V. among others.
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
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Source:Transparency Market Research