Data is proving to be king in airports, and its presence and use are likely to become even more critical this year as airport management puts more money into new technologies.
FREMONT, CA :The global aviation industry still has much to look for in more advanced technology. The industry expects to return to or pass its pre-pandemic levels year, but some obstacles could still be hard to overcome. The problems in the global supply chain will slow down the rate at which planes are made, just like they did last year when there needed to be more engines and other parts. The demand will again rise above last year's levels, and the world's capacity will likely be higher than before the pandemic. Below are the possible trends that could shape the aviation industry in 2023.
Demand will continue to rise: Last year, when most of the world's restrictions were lifted, the number of people who wanted to fly increased. Airlines could add more flights to their schedules to reach their capacity levels before the pandemic. Even though the same problems that airlines and airports faced last year, like a lack of workers and rising fuel prices, still exist this year and are paired with higher inflation rates. The aviation industry will likely be able to fly through these turbulent factors for an even stronger year.
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Restrictions in the supply chain: Airlines might have more difficulty flying through rough weather this year than last year. There's no doubt that airlines will want to add more seats to their fleets by buying new planes, but the supply chain has been messed up a lot in the past year, and that will stay the same. Even though plane makers might have trouble meeting delivery deadlines, airlines will be stuck with the same capacity. There will be a significant slowdown in plane production due to problems in the global supply chain, just as they did last year.
Prices for renting planes will increase: Even though there are problems with making and delivering planes, airlines still have other ways to improve their fleets, primarily through aircraft lessors. During the pandemic, airlines have cut their owned fleets, but aircraft lessors have increased and now manage the value of the world's passenger aircraft fleet. And because of the pandemic, airlines have learned that it takes less time to get a leased plane than a new one from the factory. Inflation is also significantly affecting the aircraft leasing business; lease rates will likely increase as lessors try to cover capital costs.
Increase in airport data: More data gets collected in airports. Airports had trouble running smoothly because they weren't ready for the demand spikes. Some airports had to limit their capacity as they struggled to keep operations running smoothly. Things improved as data-driven algorithms and Artificial Intelligence (AI) were used more for better resource management. Everyday situations make it easier to collect data, and more accurate "what-if" scenarios are being made on purpose so airports can be better prepared to handle disruptions.
