Inflight Advertising Market Trend Strategies, Industry Growth, Global Analysis, Statistical Forecast 2030
Inflight Advertising Market Trend
Inflight Advertising Market size is estimated to grow at a US$ 4.1billion at 11.7% CAGR by 2022-2030.
In-flight advertisings are good way to promote products and, for airlines, it’s a method to earn more revenues. The in-flight magazine advertising is expected to flourish as the number of flights are increasing and it could achieve 11.17% CAGR during the forecast period (2020-2023). Market Research Future (MRFR) in the report on the same market declared possibilities that could take the global market beyond the expected valuation line.
The in-flight advertising market is to gain from various advents of digital media, booming tourism industry, and hike in airline passenger numbers. In addition, airlines are trying to profit more from advertising to meet their financial crunch which is also providing much scope for the advertising companies to join the bandwagon. It is further benefitting from the blend of sight, sound, and motion technologies. The InFlight Advertising Market to gain more from engagement and interactions with customers.
Competitive Landscape:
Several influential companies in the in-flight advertising market are actively participating due to the possibilities of earning more revenues. In the process, they are employing strategies that include merger, acquisition, product launch, innovation, and other methods. For individual progress, these strategies are essential but thy also take the market ahead. MRFR has listed some in their report to understand the trend that is going on and can impact the coming years. These companies are Global Eagle, Zagoren Collective, Panasonic Avionics Corporation, EAM Advertising LLC, IMM International, INK, MaXposure Media Group (I) Pvt. Ltd., Atin OOH, Global Onboard Partners, and Blue Mushroom.
In May 2019, Korean Air and Delta Air Lines started collaborating on advertising campaigns to promote their flight benefits in both South Korea and the U.S. This is an endeavor to celebrate their one-year collaboration. The endeavor would ensure more focus on in-flight advertising and propel the market growth.
Segmentation:
The recent MRFR report deals with a detailed analysis of the global in-flight advertising market by segmenting it on the grounds of product and aircraft type. It is further backed by volume-wise and value-wise understanding of the available data.
Based on the product, the in-flight advertising market is segmented into baggage tags, in-flight apps, display systems, inflight magazines, and others (boarding passes, seatback tray tables, overhead bins, and aircraft wrap). The inflight magazines are gaining grounds as long travels allow passengers to read and get information from such magazines.
Based on the aircraft type, the in-flight advertising market includes business aircraft and passenger aircraft. The passenger aircraft segment is on a fast-track mode as that gets a wider passenger base.
Regional Analysis:
MRFR in their recent analysis of the global in-flight advertising market focused on North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA). This analysis primarily focuses on descriptions to unearth demographic challenges the market faces in these regions.
The APAC market has several emerging economies in the region, and it banks mostly on the small and medium widebody aircraft. Several such airlines have stepped in like Indigo, Tigerair Singapore, Tigerair Australia, and Air Asia, to capitalize on these lucrative opportunities and partnered with in-flight advertising firms in this region. Existing firms like Atin OOH and Maxposure Media Group are also inspiring growth of this market in the region. The rise in aircrafts in use could reach to 16,000 by 2035, which can boost the regional market.
Of late, the MEA region is witnessing substantial growth due to surge in expenditure of air travel and burgeoning tourism industry. The local airlines like Emirates, Qatar Airways, and Etihad Airlines, are benefitting much from the position of the region at the crossroads of Europe and the APAC. The air traffic in the region is bolstering in-flight advertising market.
Latin American market is also expected to bolster this market as its blooming tourism industry is ready to invite more people. Intake of such flights are expected to raise the level of commitment from advertisers which would ensure better growth prospects.
Global Inflight Advertising Market Research Report: Information by Product (Inflight Magazines, Display Systems, Baggage Tags, In-Flight Apps and others), Aircraft Type (Business Aircraft and Passenger Aircraft) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2030 @https://www.marketresearchfuture.com/reports/inflight-advertising-market-5299
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