Airline IoT Market
Research methodology defines a series of logical steps that are followed to accomplish the desired research objective. For this market research report, Market Research Future (MRFR) has opted for the following methodology which consists of primary, and secondary research coupled with a few other factors.
Primary Research
For the preparation of the market report, the primary research involves collecting necessary information from various market players (manufacturers, vendors, suppliers, distributors, service providers, etc.). The primary research is divided into two segments which include an introduction to the market and going deeper in secondary research.
The preliminary research was conducted with the support of a wide variety of researchers, extensive libraries, a comprehensive portfolio of industry-leading companies, magazines, reports, journals, government sources, trade associations and surveys, which were conducted in-house.
In the primary research process, surveys and interviews were conducted with industry experts, key opinion leaders and professionals. Primary information was collected from sources such as original equipment manufacturers (OEMs), original design manufacturers (ODMs), industry associations and institutions dealing with aerospace and defence, industry experts, and other stakeholders.
Secondary Research
Secondary research involves obtaining secondary data (already existing data), collected from various sources such as industry association publications, proprietary databases, industry databases, government databases, academic journals, company press releases, industry and technology magazines, etc. Secondary data provides a deep insight into the segmentation, competitive landscape and market share analysis of the airline IoT market.
The secondary research process was conducted by analyzing financial statements and other income documents such as annual reports for different companies operating in the market. After secondary research, an outline was drawn and it was further filled with details by primary research.
Approaches Used
To understand the airline IoT market size and the nature of the market dynamics, MRFR used several approaches to identify the market trend, market size, segmentation, competitors' market shares, and other significant dimensions. The approaches used to analyze details included the bottom-up approach, top-down approach, factor analysis, time-series analysis and demand-side and supply-side data triangulation.
Bottom-Up Approach
The bottom-up approach was used to estimate the global airline IoT market size. This was done by the sum of sales of every company operating in the airline IoT market. Secondary research was used to identify the size of the airline IoT market by segment and region.
For underlying technology trends, the bottom-up approach was also the basis for segmenting the market into sub-segments and regions.
Top-Down Approach
In the top-down approach, the market size was estimated based on the market share analysis of the leading players in the airline IoT market. Following this approach, an algorithm was developed. Top-down and bottom-up approaches were combined to come up with a reliable and accurate market size estimation for the global airline IoT market.
Time-Series Analysis
Time-series analysis technique was used to track past market prices and market trends for the market size and market structure in various parts of the world. After collecting data for the base year, several key market parameters were collected to project the future market size. MRFR used several forecasting methods to project the size of the market in terms of value and volume.
Factor Analysis
The data collected through primary research was analyzed with the help of factor analysis. Factor analysis, which involves using statistical methods and quantitative techniques, helped in identifying the sensitivity of the airline IoT market to various factors.
Demand-side and Supply-side Data Triangulation
Data triangulation was done by collecting data from both the demand and supply side. The demand side data collected includes but is not limited to, end-user interviews, survey responses from various customers, retail audits, surveys, mystery shopping, and exit polls. The supply side data was obtained from key opinion leader interviews, channel/distributor interviews, distributors, and other manufacturers.
Research Assumptions
During the research process, the main assumptions made are:
- Major companies in the airline IoT market were considered and the market dynamics were obtained from them.
- The availability of key personnel to provide the necessary information and data required was assumed.
- Data triangulation was done by collecting data from both the demand and supply sides.
- A full market analysis was conducted and the final numbers were authenticated by the industry experts.
- The historical data and the current market size were taken into consideration to forecast the market size for 2023 to 2030.
The research study conducted by MRFR was based on the financial information and news collected from various sources available in both the public and private domains.
