In-flight advertising basically refers to advertising that is targeted toward potential consumers, on board an aircraft. In-flight advertising entails advertising through in-flight magazines, overhead storage bins, and setback tray tables, and sales pitches by flight attendants. With the advent of digital media in-flight advertising market has witnessed significant changes. Introduction of targeted advertising through live television and in-flight apps are expected to have a positive impact on the in-flight advertisement market. Increasing number of aircraft fleets and increasing passenger traffic, are some of the major driving factors for the in-flight advertising market.
According to a new report by Market Research Future (MRFR), the global in-flight advertising market is expected to expand at 11.17 % CAGR during the forecast period (2017-2023) due to the advent of digital media. Inflight advertising involves advertising through overhead storage bins, in-flight magazines, setback tray tables, and sales pitches by the flight attendants. Development of live television, inflight applications, Wi-Fi based entertainment systems, and e-commerce platforms has enabled firms to advertise targeted audiences.
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The Turkish Airlines has launched a completely new animated video on safety, with LEGO minifigures in surprising new roles in partnership with Warner Bros. The safety video will be shown on all flights and will also debut online.
Major Key Players
Some of the major players operating the global in-flight advertising market are Global Eagle, IMM International, Blue Mushroom, EAM Advertising LLC, MaXposure Media Group (I) Pvt. Ltd., Panasonic Avionics Corporation, Global Onboard Partners, Zagoren Collective, Atin OOH, and others.
Drivers and Trends
Advertisers have witnessed an upsurge in the volume of advertising content individuals consume on a daily basis with the advent of digital media. Digital media advertising is expected to make traditional in-flight advertising techniques obsolete. Personal mobile phone and personal computing enable the advertisers to deliver advertisements to the passengers right to their personal devices which is effective compared to any traditional methods of in-flight advertising. Such advertisements add a dimension of interaction to motion, sight, and sound which is estimated to fuel the market growth over the assessment period.
Moreover, the demand for customization of airline passenger experience is increasing from passengers and airlines owing to the customized lives we lead. For instance, Apple Music’s “For You” and Netflix’s “recommended for you” are offering music list and movies based on an individual’s personal taste. Airlines and in-flight advertising firms are also trying to bring the same concept. This in turn is driving the market for in-flight advertisements. With in-flight advertising market shifting towards targeted advertisers through e-commerce, Wi-Fi connectivity, and live TV services, the airline hardware is likely to become obsolete.
Despite such driving factors, the in-flight advertising Market is anticipated to experience certain setbacks. The problems airlines might face in the coming years is the ability to adapt to the pace at which technological advancements take place every day. Besides, new techniques of advertising might not be fruitful if the hardware required for additional revenue requires to be changed every day. Moreover, the cost associated with publishing the advertisements in different mediums is one of the key challenges faced by the companies.
Global In-Flight Advertising Market Segmentation
The global market for in-flight advertising has been segmented into three key dynamics such as product, aircraft type, and region.
By product: The market has been segmented into display systems, baggage tags, in-flight apps, in-flight magazines, and others such as seatback tray tables, overhead bins, aircraft wrap, and boarding passes.
By mode of aircraft type, the market has been segmented into passenger aircraft and business aircraft.
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