The demand for the Aviation industry increases every year. The rise of the aviation industry has taken nobody by surprise.
The Aviation industry is often misinterpreted as the airline industry. The airline industry forms only one part of the wider aviation industry. The Aviation industry includes everything from aircraft manufacturers, researchers, air safety specialists, businesses involved with the military, and increasingly companies that design produces, and/or make use of drones.
That is a lot! The impact of the Aviation industry is far more than just travel and tourism.
The modern Aviation industry has given rise to a globalized market. Globalization in businesses across countries and continents isn’t hard at all anymore. The demand for the Aviation industry increases by 4.2% every year.
Isn’t it surprising how the demand for the aviation industry has such low possibilities to drop? The Aviation industry is the sole source to reach a global market. It is also valued at over $2.7 trillion. A market this big can give rise to an array of opportunities across fields and sectors.
Economical Opportunities of the Aviation Industry:
The Aviation Industry alone drives $1.7 trillion in the USA economy activity and 10 million US job opportunities every year. Before getting to know how it leads to these many opportunities, let us understand how important it is globally.
The demand for the aviation industry is high because of the economical growth aspect. Aviation has not only made global trade easier but has also increased the networking ability of businesses across the globe.
The increase in demand has resulted in a drop in travel prices. This results in more flying. There are a large number of businesses that rely on the aviation industry to meet sales. As said before the aviation industry is an opportunity generator in the market.
The aviation industry fuels the engine of the majority of B2B companies. There is intense competition among B2B marketers in the USA to sell to the Aviation Industry. Thanks to data solution providers, who provide companies with the Aviation Industry email List, and marketing strategies, helping them get to the finish line faster.
How is the Aviation Industry, the Power-House of Opportunities?
Innovations and technological advancements in the industry leave them with an unending loop of requirements. These requirements draw manufacturers, producers, and many more businesses to provide for them.
The requirements in the Aviation industry do not stop at raw materials, their growth accelerates sales of technological advancements and many more products and services in a comprehensive volume. That gives the opportunity to many Business to Business marketers in the USA.
Technological Breakthrough in 2020 which can lead to More Opportunities:
The Airport Digital Twin: Digital twin has been around since 2002, but the IoT [Internet of Things] has made it an accessible and easily implementable technology strategy now. A digital twin is a digital representation of a product, service, or setting. It was not until late 2019 that the airport digital twin was announced.
The production of the airport digital twin is still in process in the US east coast airport. Kevin O’Sullivan, the lead engineer of the digital twin said, that a fully functional digital twin can help get a holistic view of past, present, and future airport operations.
AI Implementation [Artificial Intelligence]: Aviation has initiated applications of Artificial intelligence in many ways. They have recently started leveraging AI with Machine learning, computer vision, robotics, and natural language processing.
Leading airline companies are utilizing AI to enhance customer experiences and efficiency in the following way:
- Passenger Identification
- Bag Screening
- Customer Support
- Predictive Maintenance
- And more
The AI revenue from the Aviation Industry amounts to over $89,800 million.
In-flight VR [Virtual Reality]: Many flights have already started using VR for astounding passenger experience, along with marketing and training purposes. Passengers are given a 360° view of the cabin in 4K quality through VR. This does not just end here VR is also used for training and marketing in the aviation industry.
Wrapping it up:
The innovations in the Aviation industry never seem to cease. These are just a few of the numerous. More innovations in the Aviation Industry lead to more demands, which associate with opportunities for other businesses, job-seeking individuals, and the economy. Globally this industry is perceived to see more growth and opportunities in every aspect of the new future.
ABOUT THE AUTHOR: Charles Daniel