According to a new report published by UnivDatos Markets Insights, the Airline Route Profitability Software Market is expected to grow at a CAGR of around 7% from 2022-2028. The analysis has been segmented into Software (Fares Management and Pricing, Planning and Scheduling, Revenue Management, and Other Software); End-Use (Domestic Airlines, International Airlines, and Business Charters); Region/Country.
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The airline route profitability software market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the airline route profitability software market. The airline route profitability software market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the airline route profitability software market at the global and regional levels.
Market Overview
The Airline Route Profitability Software Market is expected to grow at a steady rate of around 10% owing to the increased adoption of technologies such as artificial intelligence, mobile and conversational commerce coupled with business analytics and market intelligence. Thus, helping airlines to identify demand trends and increase profit margins by calculating and evaluating the cost of currently operated routes. Moreover, the rising need to find shorter as well as faster air routes, to save fuel and time and rising air traffic across the globe are also contributing to the growth of the market. For instance, according to the Federal Aviation Administration, in 2021, Air Traffic Organization (ATO) handled a total of 16,405,000 flights.
Some of the major players operating in the market include SITA, International Business Machines Corporation, Amadeus IT Group S.A., Sabre GLBL Inc., Orane Consulting Pvt. Ltd., Damarel Systems International Ltd., Airport Information Systems Limited, Wipro Limited, Laminar Aviation Pte. Ltd., and QlikTech International AB.
COVID-19 Impact
The dramatic drop in demand for passenger air transport (and freight, to a lesser extent) due to the COVID-19 pandemic and containment measures has negatively impacted many firms in both the air transport sector and the rest of the aviation industry. According to The World Bank, the total number of passengers carried hit a 15-year low with carrying only 1.81 Bn passengers in 2020. The airline industry faced a huge loss during Covid-19. Since governments all over the world have lifted restrictions on traveling, the civil aviation industry is expected to recover quickly hence the demand for the airline route profitability software market is also expected to rise.
The global airline route profitability software market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on software, the market is classified into fares management and pricing, planning and scheduling, revenue management, and other software. Among these, the planning and scheduling segment is expected to witness a robust CAGR during the forecast period owing to the need to generate a flight schedule that achieves the most effective use of an airline's resources
· Based on end-use, the market is divided into domestic airlines, international airlines, and business charters. International airlines are expected to be the prominent shareholder of the global airline route profitability software market during the forecast period. Factors such as the growing demand from the middle class, growth in population and tourism, higher disposable incomes, favorable demographics, rising aircraft penetration, and aviation infrastructure growth are contributing to the growth of this segment
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Airline Route Profitability Software Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of the airline route profitability software industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia-Pacific is expected to grow at a strong growth rate during the forecast period. The region is the center of a rapidly growing aviation industry, with China and India being major aviation hubs. Growing tourism countries such as Indonesia, Singapore, South Korea, Malaysia, Thailand, and others are leading to increased passenger numbers in the region. To capitalize on the demand in the region, the aviation industry has made strategic investments and plans to expand its presence in the region. The aviation industry use route profitability software to assess existing routes, understand profit margins, plan and budget for route profitability, and enable the addition of new routes in the future.
The major players targeting the market include
· SITA
· International Business Machines Corporation
· Amadeus IT Group S.A.
· Sabre GLBL Inc.
· Orane Consulting Pvt. Ltd.
· Damarel Systems International Ltd.
· Airport Information Systems Limited
· Wipro Limited
· Laminar Aviation Pte. Ltd.
· QlikTech International AB
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the airline route profitability software market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the airline route profitability software market?
• Which factors are influencing the airline route profitability software market over the forecast period?
• What are the global challenges, threats, and risks in the airline route profitability software market?
• Which factors are propelling and restraining the airline route profitability software market?
• What are the demanding global regions of the airline route profitability software market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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