With the pandemic shaking the very core of air travel, the aviation industry has to adapt or go belly-up in this volatile climate. The situation the industry faces is not favourable, and new approaches need to be adopted to address mounting health and security concerns.
Given current circumstances, we see big names in the industry scramble to leverage modern aviation analytics to gauge how they can make the best decisions to move forward amidst this minefield that is the pandemic.
Aviation is undoubtedly one of the industries hit hardest by the pandemic. More than 40 major airlines have grounded their fleets while other airline carriers have suspended over 90% of their flights. International flights have been restricted due to border and entry restrictions around the world. If we rewind to just six months ago, airlines were competing for traffic aggressively. But now, airlines are fighting for survival, thanks to recent events.
Real-time access to aviation analytics in the 21st-century is what powers organisations to form a strategy to help them navigate this crisis. With that in mind, read on to find out the various ways aviation analytics can save the air travel industry from the dark ages.
To cope with the abysmal conditions, airlines around the world have to reduce the size of their staff roster and ground fleets to reduce costs. With revenue and ticket sales being a fraction of what would be expected in a normal market, there are still other major costs to consider, such as maintenance, technology and even marketing.
At this critical juncture, the airline industry needs to capitalise on any revenue-making avenue they have. The overriding issue with this is that most airlines make the vast majority of their profits from international flights, with many domestic routes making losses (especially if the flight flies at 75% capacity), so this does not spark any strong faith in the future.
But lo and behold, aviation analytics has progressed leaps and bounds. Efficient real-time data analytics produces actionable intelligence when curating data on flight schedules, fuel loads and tickets sales, all while searching for patterns that reveal the most profitable options. Each minuscule change in metrics could translate to larger profit margins or avoid bankruptcy during the pandemic.
A technological revolution in the aviation industry was already in motion before the pandemic. However, the medical and material demands of COVID-19 have accelerated the rate of adoption to make air travel safer.
On the ground and in the air, robot cleaners, new PPE uniforms for flight attendants and mandatory medical screenings could become standard aspects of future air travel. We even hear whispers of processes being digitalised to utilise facial recognition and cutting out any contact to avoid the spread of the virus. Aviation analytics is no exception because the insights can be used to inform flight safety.
For example, a single flight generates a lot of data every hour – on average, a 6-hour flight from one country to another produces about 240 terabytes of data from the plane. If this data is efficiently inspected and analysed, it will go a long way in improving flight safety, in light of the recent pandemic.
Aviation analytics software will enable regulators to identify the biggest safety risks and determine whether industry stakeholders are taking the right actions to mitigate them. By combing through terabytes of data, they will be able to locate weak links in the aviation chain and dole out insightful improvements to ensure that the safety of their passengers is a top priority.
Aviation analytics and its revered analysts predict that it could take 3 to 5 years for the market to return to 2019 levels. This year will likely be the worst in modern history for aviation, and a bounce back will be long and arduous. However, if there is one industry that can adapt to shocks, it is aviation.
Aviation analytics will play a critical role in coping with the challenges airline carriers face in the future. With airline carriers constantly collecting data, they can continue making informed decisions as they adapt and grow in the post-pandemic climate by leveraging aviation analytics.
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