PUBLISHER: The Business Research Company | PRODUCT CODE: 1464030
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464030
Airline route profitability software is specialized software utilized by airlines to assess the financial viability of their routes. This software aids airlines in analyzing the profitability of individual routes by considering various factors such as operating costs, ticket prices, passenger demand, competition, and other pertinent variables.
The primary types of airline route profitability software include fares management and pricing, planning and scheduling, revenue management, and other related solutions. Fares management and pricing software enable airlines to efficiently manage and optimize ticket prices across different routes and service classes, including first class, business class, premium economy, and economy. Such software finds application among domestic airlines, international carriers, and business charter services alike.
The airline route profitability software market research report is one of a series of new reports from The Business Research Company that provides airline route profitability software market statistics, including airline route profitability software industry global market size, regional shares, competitors with an airline route profitability software market share, detailed airline route profitability software market segments, market trends and opportunities, and any further data you may need to thrive in the airline route profitability software industry. This airline route profitability software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The airline route profitability software market size has grown rapidly in recent years. It will grow from $12.40 billion in 2023 to $13.84 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth observed in the historical period can be attributed to several factors, including the rising demand for cost-effective airline route profitability solutions, the expansion of commercial airline operations, an increase in demand for domestic airline services worldwide, the overall growth in global air traffic, and the increasing preference for cloud-based solutions within the aviation industry.
The airline route profitability software market size is expected to see rapid growth in the next few years. It will grow to $20.93 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The forecasted growth is driven by increasing demand for real-time data and insights on airline route profitability, along with a rising preference for cloud-based solutions. Factors such as increased air travel due to rising passenger purchasing power, heightened demand for efficient route management among commercial airlines, and the need for enhanced efficiency in route optimization processes are also contributing. Major trends include the adoption of advanced technologies, particularly cloud-based solutions, efforts to minimize environmental impacts, a growing requirement for cost-management software among airlines, and increasing use of advanced analytics and AI-enabled solutions.
The escalating demand for air freight cargo is poised to drive significant growth within the airline route profitability software market in the foreseeable future. Air freight cargo, encompassing the transportation of goods via air carriers, whether charter or commercial airlines, underscores the critical role played by airline route profitability software in optimizing routes, pricing strategies, and resource allocation to maximize operational efficiency and profitability. This trend is underscored by data from September 2021, as reported by the International Air Transport Association, which indicates a notable 9.1% increase in industry-wide cargo tons (CTKs) compared to the preceding year, indicative of a stable air cargo market. Consequently, the escalating demand for air freight cargo emerges as a key driver propelling the expansion of the airline route profitability software market.
Leading players within the airline route profitability software domain are actively engaged in the development of innovative technologies geared towards enhancing customer satisfaction and operational efficiency. One such innovation is the introduction of route intelligence portals, which serve as data-driven platforms furnishing airlines with invaluable market insights pertaining to regional networks and routes linking the region to global destinations. For instance, in October 2022, the African Airlines Association (AFRAA), a prominent Kenya-based marketing intelligence provider, unveiled the Route Intelligence Portal-a sophisticated data-driven platform tailored to provide airlines and aviation industry stakeholders with comprehensive insights into aviation routes, networks, and market dynamics. This portal serves as a gateway for airlines seeking access to pertinent market intelligence on African networks and routes connecting Africa with the global aviation landscape. Geared towards supporting African carriers, the AFRAA Route Intelligence Portal delivers tailored market intelligence reports aimed at meeting the evolving needs of the burgeoning African aviation market, thereby exemplifying the transformative potential of route intelligence solutions in driving operational excellence and strategic decision-making within the airline industry.
In March 2022, CAE Inc., a Canadian high-technology company, completed the acquisition of Sabre Corporation for $392.5 million. This strategic move enables CAE to broaden its portfolio in flight and crew operations solutions, solidifying its position as a technology pioneer in this sector. Sabre Corporation, headquartered in the United States, specializes in travel technology, offering software and technology solutions crucial for movement and airport management, integral components of the broader airline operations and route profitability software market.
Major companies operating in the airline route profitability software market report are The Boeing Co., International Business Machines Corp., Infosys Limited, Wipro Limited, Amadeus IT Group, Sita Aero, Coforge Ltd., Lufthansa Systems, Pros Inc., Sheorey Digital Systems Pvt. Ltd., Maureva Ltd., Orane Consulting Pvt. Ltd., Optym, Seabury Solutions, Qlikview, Airpas Aviation GmbH, Megabyte Ltd., Laminaar Aviation Pte. Ltd, Aerotrack Systems, G-aero Ltd., Maxamation Pty. Ltd., NIIT Technologies Limited, Sixel Consulting Group, Skymetrix GmbH, GrandTrust Overseas Pvt. Ltd., QlikTech international AB, Travelport Worldwide Ltd.
North America was the largest region in the airline route profitability software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airline route profitability software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the airline route profitability software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The airline route profitability software market consists of revenues earned by entities by providing services such as route analysis, cost analysis, demand forecasting, scenario modeling, reporting and analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. The airline route profitability software market also includes sales of aero profit analyzer, air route navigator, profit pilot airline edition and route sense pro. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
Airline Route Profitability Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on airline route profitability software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for airline route profitability software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The airline route profitability software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.