The global market for 5G in aviation was valued at USD 0.35 billion in 2020. However, due to the impact of the COVID-19 pandemic, there was a decrease in demand for 5G aviation services across all regions. Despite this setback, the market is projected to grow significantly, with an estimated value of USD 0.54 billion in 2021 and a compound annual growth rate (CAGR) of 47.03% from 2021 to 2028. The negative impact of the pandemic caused a temporary decline in the market, but it is expected to recover and return to pre-pandemic levels once the situation improves. The year 2020 witnessed a year-on-year growth of 25.40%, which is higher than the average growth rate observed between 2017 and 2019.
Informational Source:
https://www.fortunebusinessinsights.com/industry-reports/5g-in-aviation-market-101778
Major Top Key Companies Covered in 5G in Aviation Market are:
5G, the fifth generation of wireless technology, has the potential to revolutionize the aviation industry. With its ultra-high speeds, low latency, and massive connectivity, 5G can enable a wide range of applications in aviation, including enhanced connectivity for passengers, improved operational efficiency, enhanced safety measures, and advanced maintenance and monitoring systems.
Enhanced Passenger Connectivity:
One of the key benefits of 5G in aviation is the ability to provide passengers with seamless and high-speed connectivity during flights. With 5G networks, passengers can enjoy faster internet access, HD video streaming, and real-time communication services. This enables an enhanced in-flight entertainment experience, facilitates productivity during flights, and allows for seamless connectivity with ground-based services.