Commercial Aerospace Digital Solutions: What Are the Significant Growth Opportunities?
Digital solutions are experiencing transformational growth due to the increasing focus on sustainability
Overview
In 2023, the global commercial aerospace digital solutions sector generated a revenue of $28,974.6 million, and it is anticipated to grow at a compound annual growth rate (CAGR) of 7.0% and reach $57,032.4 million in 2033. This analysis analyzes digital R&D investment and annual digital expenditure.
Air travel demand increased in 2023, and by the end of 2024, air traffic numbers will equal 2019, pre-COVID 19 levels. This is a major driver that will foster the digital transformation journeys of airports, airlines, OEMs, and MRO (Maintenance, Repair, and Overhaul) suppliers. The higher the demand for air travel, the higher the aircraft utilization rate, leading to a substantial increase in demand for new aircraft and aftermarket services. As a result, spending on digital transformation will rise.
How can your company leverage digital expenditure in the airline and airport industries to capture new opportunities?
How is the demand for air travel influencing the digital transformation journeys of airlines, airports, and MRO service providers?
How is the digitalization of aerospace operations enhancing overall industry growth and efficiency?
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