According to the current analysis
of Reports and Data, the global Smart
Airport Market was valued at USD 12.5 Billion in 2018 and is expected
to reach USD 28.0 Billion by year 2026, at a CAGR of 10.0%.
Smart airport market highlights
the growth and transformation of conventional airport to a intelligent
transport hub. Airports are not just a boarding and travelling hub for
passengers now, it has become more of a transport hub. The different
innovations in technology and its applications in the smart airport market have
transformed the conventional airports into smart and intelligent transportation
hubs. These airports now have commercial spaces, transportation hubs, shopping
centers, recreational spots, and other hospitality elements that attract
tourists and travellers around the globe. The use of BYOD and IoT generate
massive data that is collected from different touch points and processed to turn
into actionable insights is a driving factor for the smart airport market.
These intelligent transport hubs
are generating huge revenue and attracting massive public and private
investments that are contributing to the economic growth of the country. With increasing
number of passengers yearly the airports are implementing various solutions to
handle operations, maintained, air traffic control, communications, security,
and many more. Use of emerging technologies such as IoT, automation, big data,
robots, AI and virtual reality has now become a part of the ecosystem that
assist in day to day operations, along with integrated data collection from
numerous touch points and devices and creating better real-time communications
channels.
To identify the key trends in
the industry, click on the link below:
Further key findings from
the report suggest:
- The smart airport markets fastest growing at a CAGR
of 9% in Asia Pacific owing to modernization of conventional
infrastructure in developing countries such as India and China
- Communication Systems segment is accounted to be the
leading segment in smart airport market which is valued at USD 3.0 Billion
in 2019, due to the increasing use of connected devices and need for
secured communications
- North America is the largest region with a share of
35.5% in smart airport market due to the presence of technologically
advanced infrastructure and communication technology
- Terminal side solutions segment is the fastest
growing at a CAGR of 12.5% due to the increasing adoption of Smart Airport
solutions for simplifying baggage and terminal operations and reducing
human errors
- Check-in systems in the terminal side solutions to
have the largest market share in the smart airport market due to the
growing number of air travellers and decrease in the air fares
- The sustainable energy management segment in the
terminal side solutions to have the fastest growth rate owing to the
increased focus on green and sustainable future by the regional and
government bodies
- Air traffic management is accounted for the largest
share in the airside solutions due to the need for better air traffic
control and management solutions at the airport
- Europe is expected to account for the 29.1% of the
market, rising investments for smart infrastructure, implementing PPP models,
government investments and recent innovations
- AI based intelligent Airports is the latest
innovation in the global Smart Airport Market.
- Some of the key players are Honeywell Corporation
Inc., Collins Aerospace, ITA, Siemens AG, IBM Corporation, Cisco Systems
Inc., Raytheon Company, Kiewit, Larsen & Toubro, and Amadeus IT Group
SA.
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Segments covered in the
report:
For the purpose of the study,
this Reports and Data have segmented the Global Smart Airport Market on the
basis of application, end user and the regional outlook:
Technology (Revenue, USD
Billion; 2016–2026)
- Communication Systems
- Traffic Control
- Passenger Information System
- Cargo & Baggage Handling
- Security System
- Others
Application (Revenue, USD
Billion; 2016–2026)
- Aeronautical Operations
- Non-Aeronautical Operations
Solution (Revenue, USD
Billion; 2016–2026)
- Terminal Side
- Baggage Handling
- Check-In Systems
- Building Operations
- Sustainable Energy Management
- Air Side
- Air Traffic Management
- Aircraft Maintenance
- Aircraft Parking
- Landside
- Vehicle Parking Solutions
- Smart Marketing Techniques
- Security
Regional Outlook: (Revenue,
USD Billion; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- Latin America
- Brazil
- Middle East and Africa (MEA)
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