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The Market

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Incorporating AI into Applications Opens New Market Opportunities

  • AI-driven computer vision enabling systems to recognize and interpret their environment —both people and objects.

  • Smart predictive analytics with built-in AI that detects anomalies, corrects errors, and anticipates future outcomes.

  • Leverage AI-powered predictive credit modeling to gain unparalleled insights into every consumer, accelerating deal closures and maximizing profitability.

Air Travel Market Rebounding

ICAO forecasts that global RPK (Revenue Passenger Kilometers) as a key metric for measuring the total air passenger traffic volume worldwide will reach 8.8 trillion in 2024, with most routes recovering or exceeding pre-pandemic levels.

Source 1: ACI Aero – World ICAO Passenger Traffic Report – Link

  • FUTURE GROWTH

    ACI World estimates that 2024 will be the first year for global passenger volume to fully recover and surpass 2019 levels, reaching 9.5 billion passengers (104% of 2019). In its early 2023 short-term forecast, ICAO predicted that most route groups would return to or exceed pre-pandemic levels by the end of 2023.

  • GROWING DEMAND

    While this was largely achieved, the overall recovery remained slightly below expectations, at 94% of 2019 levels, primarily due to underperformance in certain route groups, particularly those involving Asia and especially routes to and from China.

  • ICAO FORECASTS

    ICAO forecasts that global RPK will reach 8.8 trillion (101% of 2019) in 2024, with most routes recovering or exceeding pre-pandemic levels. By 2025, ICAO projects global RPK to rise to 9.4 trillion (108% of 2019), driven by the recovery of these lagging routes, further solidifying the overall market rebound.

Source 1: ACI Aero – World ICAO Passenger Traffic Report – Link

U.S. Aviation
Market Insights

The Top 10 busiest airports account for 35.3% of capacity per year.

  • Atlanta remains the biggest airport with 108M passengers

  • Chicago O’Hare at 80M passengers

  • Miami International Airport at 56M passengers1

Every day, FAA’s Air Traffic Organization (ATO) provides service to more than 44,000 flights and more than 3 million airline passengers across more than 29 million square miles of airspace.

Source 1: OAG – US Aviation Market – Link 

Top 10 busiest airports in the U.S.

Top 10 Airports in the US by departing seats (one-way) this month.1

Source 1: OAG – US Aviation Market – Link 

2024 Report By The Numbers:

0

Flights handled
by the FAA yearly

0

Average daily flights handled by the FAA

M+

Scheduled passenger flights yearly

U.S. airports1

Source 2: FAA – Air Traffic By The Numbers – Link

Shipping Volume is Growing

US Parcel Volume is on the Rise

In 2024, U.S. parcel volume saw significant growth, reaching 22.37 billion shipments, a 3.4% increase from 2023’s 21.65 billion. This growth trend is expected to continue, with projections showing volumes reaching 30 billion by 2030.

Source 1: Pitney Bowes –Shipping Index – Link

US-parcel-volume-infographic

Global Movement is Accelerating

Concerts, Live Events & Venues

  • Live Nation reported the biggest year in company history in 2023—145M fans, up 20% YoY, and trend continuing into 2024–20251

  • Pollstar Global Concert Pulse Year-End Reports shows industry revenue at all-time highs, driven by stadium tours, festivals, citing a clear surge in attendance2

Further Growth Is Expected

The global events industry is projected to grow from USD $1.1 trillion in 2019 to over $2.1 trillion by 2032 (CAGR ~6.5%)

Corporate conferences and large gatherings are returning to multi-year highs6

Major Events: Sports, Conferences, Stadiums Show Compelling Growth.

  • NFL 2023 attendance hit 19.98 million —the highest since 2016, up +9.3% year-over-year. Average per-game attendance reached 69,442, the highest in NFL history3

  • F1 set an all-time attendance record in 2023 with 6.04 million fans —up +21% vs 2022, and more than double 2018 levels4

  • The 2022 FIFA World Cup drew 3.4 million in-stadium spectators —surpassing the 2014 World Cup and marking one of the highest-attended global sporting events ever5

  • Global conferences and exhibitions have fully rebounded, with UFI reporting that industry attendance and economic activity now surpass pre-COVID levels worldwide

Source 1: Live Nation – Investors – Link     Source 2: Pollstar-News – Link    Source 3: ESPN – NFL Attendance – Link    Source 4: Formula 1 – Investors – Link     Source 5: Fifa – Finance – Link    Source 6: –Statista – Event Industry – Link

2024 Parcel Shipping Index Report By The Numbers: 

22.37

Billion Parcels
Shipped Yearly

66

Parcels Shipped
Per Person

710

Parcels Generated
Every Second 

167

Parcels Shipped
Per Household 

U.S. Air Cargo Market

01

E-Commerce
Expansion

The explosive growth of e-commerce in the United States is a major driver of the air freight market. Consumers increasingly expect fast, often next-day delivery for online purchases, putting pressure on supply chains to shorten transit times.

02

Supply Chain Disruptions & Demand For Speed

The United States air freight market trend is also fueled by ongoing global supply chain disruptions. Congestion at major seaports, labor shortages, and geopolitical tensions have made ocean freight less reliable.

03

Transportation of High-Value + Time-Sensitive Goods

High-value, sensitive, or perishable goods that require tight control over transit times, further influencing the U.S. airfreight market trend. Sectors like electronics, pharmaceuticals, aerospace, and automotive manufacturing depend heavily on air cargo to ensure quick, safe delivery.

Source 1: Market Research Future – Air Cargo Market – Link

Air freight is essential for transporting high-value and time-sensitive goods, including electronics, pharmaceuticals, and automotive parts, in industries where delays can be extremely costly.

BILLION

$ 130.9

The global air cargo market was valued at USD $140.94 billion in 2023.

BILLION

$ 106.12

Projected growth: USD $216.29 billion by 2032.

CAGR

4.57 %
CAGR of 4.97% from 2024 to 2032.1 delays can be extremely costly.

Source 1: Statista – Artificial Intelligence Worldwide – Link
Source 2: Statista – AI Index Report – Link

Expansive Market Opportunity

Movement tracking technologies apply across an exceptionally wide range of sectors, from large-scale transportation networks to high-density public environments. Rail systems, logistics hubs, and cargo terminals rely on precise movement data to improve flow, reduce delays, and optimize asset utilization.

The same core capabilities support crowd visibility and safety at concerts, stadiums, and major entertainment venues. Conferences, airports, and urban events also require real-time movement intelligence to manage congestion, enhance operational efficiency, and maintain seamless experiences for attendees.

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