The aviation industry has rapidly grown over the decades. It is one of the most flourishing domains in the world. 2018 was especially quite advantageous and profitable for the airline industry. There are multiple reasons for it, including record returns, modest fuel costs, as well as exciting technological advancements. Scott Beale Aviation additionally mentions that diverse types of technological developments taking place in this domain would continue to play a great role in its future growth. Scott Beale is an extremely renowned and reputed aviation professional, as well as a business developer and entrepreneur.
Scott Beale Aviation highlights important emerging trends relating to the domain of aviation travel
In 2018, the airline industry saw a few lows and many highs. The year 2019 subsequently promises to be quite an exciting, even though a bit uncertain for the airline service industry. Scott Beale Aviation says that various types of cutting-tech technological initiatives like in-flight connectivity and biometric self-boarding, as well as the introduction of the elements of Artificial Intelligence, Robotics and Data Analytics in this domain, would have a major influence on its future prospects. Scott Beale has worked with a number of aviation firms over the years and hence is a perfect candidate to shed some light on the trends relating to airline services. In addition to the advanced technologies, segmented classes of services and security issues are also expected to influence aviation travel trends to a great extent. Here are a few emerging trends belonging to the sphere of airline travel:
- Probable airline consolidation: In the coming years, further consolidation of airlines in the regions of North America and Europe are expected to take place. These consolidations can either take place with the help of mergers or through strategic partnerships. Such airline consolidation can prove to be extremely beneficial for diverse types of aviation companies and enable them to enjoy a minimized network exposure and high return on investment (ROI).
- Emphasis on “value for money”: Fall in the airline prices typically is witnessed due to the increase in the number of seats in planes. In the year 2019, a great increase is expected to be seen in the seating capacity of various planes. In addition to this, multiple new airlines having low-cost bases may also be expected to enter and compete in the airline industry. Diverse types of established airline service carriers may start to use the New Distribution Capability (NDC) for the purpose of providing their customers with simplified services and products, so as generate superior ancillary revenue.
- Economic challenges: There has been a great surge witnessed in the prices of fuel in this year. This rise in fuel expenses is one of the biggest concerns faced by contemporary aviation companies and may significantly affect their bottom like. Apart from this factor, the likelihood of global economic problems is expected to be one of the key concerns that companies dealing with aviation services may have to face in the future.
Scott Beale Aviation underlines that certain new sector definitions in the airline industry may also emerge in the coming year.