The global smart airport market held a market value of USD 27,485.5 Million in 2020 and is estimated to reach USD 54,862.1 Million by the year 2027. The market is anticipated to register a CAGR of 10.9% during the forecast period.
Smart airports use connected technologies, such as GPS, sensors, and the internet of things for performing planning & operations digitally and also support operational staff as well as optimize passenger flows and the activities of the airport staff across the airport.
Request To Download Sample of This Strategic Report: - https://www.astuteanalytica.com/request-sample/smart-airport-market
The market is anticipated to grow owing to the growth of the air travel & tourism industry, increase in the passenger & cargo traffic, and rising rate in the development of smart cities are the factors driving the market growth. Furthermore, the increasing investment in the development or augmentation of the airports and technological advancements leading to process optimization are also expected to boost the market growth.
The market is expected to be negatively influenced by the high initial and maintenance cost for the development of smart airports. In addition to this, the risk of system failure and privacy concerns in smart airport systems is also expected to restrain the market growth during the forecast period.
Growth of the air travel & tourism industry
The air travel and tourism industry is growing at a tremendous rate. According to the Air Transport Action Group, around 58% of all international tourists travel by air. Therefore, the tourism and aviation industries are sustainably dependent on each other for their growth. The same source also stated that the tourism sector provided around 319 million jobs in 2018 and is expected to provide 421 million jobs by 2029, globally. This demonstrates that the tourism industry is rapidly growing, which is also anticipated to increase demand for enhanced customer experiences as well as tools & systems for managing the airports efficiently. This is expected to boost the adoption of smart airport features, hence driving the market growth.
Increase in passenger and cargo traffic
The rapidly increasing passenger as well as cargo traffic is expected to drive the market growth for smart airports. According to the Airports Council International, the air cargo traffic and passenger traffic are expected to grow at an average annual growth rate of 2.3% and 3.7%, respectively from 2018 to 2040. It also stated the regional contribution to international passenger traffic growth from 2018 to 2040. These contribution growth rates were 37.3%, 31.5%, 12.2%, 8.8%, 7%, and 3.2% in the Asia Pacific, Europe, Middle East, North America, Latin America Caribbean, and Africa, respectively. Such high growth rates are also expected to boost market growth.
The global smart airport market is segmented into infrastructure, solutions, application, services, airport model, airport size, and airport operation.
- Endpoint Devices
- IP Phone
- Video Conferencing (Audio/ Video)
- Communication Systems
- Wireless Airports
- Smart Phones
- Near Field Communication
- Social Media
- Passenger, Cargo, and Baggage Ground Handling Control
- IoT Enabled Beacons
- Robots for Passenger and Baggage Movement
- Common-use Self-service (CUSS) Kiosks
- RFID Baggage Reconciliation System
- Air/Ground Traffic Control
- Systems & Scalable Air Traffic Management Solutions (ATM)
- Automated Passport Controls
- Security Systems
- Alerts & Cyber Security
- E-Fence & Ground Surveillance Radar
- E-Tag System
- Others (Airport Management Software, Navigational, Digital Signage, Landing Aids)
The passenger, cargo, & baggage handling control segment accounted for the largest market share of over 27% owing to the rapidly growing passenger traffic, which is also increasing pressure on airport operators to boost their passenger handling capacity. The security systems segment is anticipated to grow at the fastest rate of 10.7%. Within the communication systems segment, the smartphones segment is expected to grow at a CAGR of 10.2% during the projected period.
- Terminal Side
- Lighting Control
- Digital Video Surveillance and Management (DVM)
- Fire and Life Safety Solutions
- Energy Management
- Life Cycle Services
- Building Management and Automation Systems
- Air Side
- Advanced Visual Docking Guidance System (A-VDGS)
- Airfield Ground Lighting (AGL)
- Surface Movement Guidance
- Runway Improvement and Apron Management
- Digital and Radar Video Surveillance
- Access Roads
- Perimeter Security
- Car Rental
- Mass Transit
- Airport City
The terminal side is estimated to hold the largest market share of about 60% owing to the rising demand for installation of artificial intelligence-based advanced equipment and systems on the terminal side of the airports. Within the terminal side, the energy management segment is anticipated to grow at the CAGR of 13% and within the landside segment; the perimeter security segment is estimated to grow at a CAGR of 11.9%.
- Core Applications
- Content Management
- Business Intelligence
- Next-Generation Web
- Business Applications
- Noise Abatement
- Fee Management
- Performance Management
- Gate Management
The business applications segment is expected to hold the largest market share, as well as is expected to witness the highest growth rate owing to the increasing focus of market players on applications, such as noise abatement and performance management.
- Smart Transport & Parking Services
- Real-time Travel Services
- Intelligent Transport Services
- Trip Concierge
- Smart Retail, Hospitality & Entertainment Services
- Passenger-Specific Retail and Hospitality
- Intelligent Advertising
- Lean Retail Solutions
- Telepresence Rooms
- Smart Workplace Services
- Equipment Telematics Solutions
- Mobile Worker and Expert Locator
- Smart Airport Processes
- Location-Based Services
- RFID Baggage Tagging
- No-queue Check-in Solutions
- Smart Business to Business Services
- Traffic and Facilities Management
- Smart Supply-Chain and MRO Services
The smart transport & parking services segment is expected to hold the largest market share of around 34%, owing to the increasing passenger traffic. The smart airport processes segment is estimated to grow at the fastest rate of 15.7% over the forecast period.
By Airport Model,
- Airport 2.0
- Airport 3.0
- Airport 4.0
The airport 3.0 segment accounts for the largest share while the airport 4.0 segment registered the fastest growth rate. Airport 4.0 assists in managing connectivity as well as real-time information by connecting stakeholders in an integrated digital ecosystem, which promotes market growth.
By Airport Size,
The large airport size segment accounted for the largest market share owing to the high demand for advanced systems at these airports. They also experience high demand for customization of systems, which also contributes to the market growth.
By Airport Operation,
- Commercial Service Airports
- Cargo Service Airports
- General Aviation Airports
The commercial service airports segment is expected to grow at the fastest rate owing. Commercial service airports provide personalized services and assist in enhancing customer experiences, which contributes to the market growth.
On a regional basis, the global smart airport market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The North American region accounted for the largest market share of more than 34% in the global market owing to the rising spending on modernizing their airports. Furthermore, according to the Airports Councils International, the U.S. is expected to hold 21% of the total air cargo traffic in the world by 2040. This is also estimated to boost market growth.
The Asia Pacific region is anticipated to hold the second-largest market size. According to the Airports Councils International, 6 of the top 10 fastest growing countries for passengers from 2018 to 2040 are situated in the Asia Pacific region. These countries with their annual passenger growth rate are Vietnam (6.2%), India (6.1%), Philippines (5.3%), Indonesia (5.2%), China (4.7%), and Malaysia (4.4%). This also positively impacts the region’s growth.
Key players operating in the global smart airport market include Adelte, Ascent Technology Inc., Amadeus IT Group SA, Ansul, Cisco System, Collins Aerospace, Deerns Airport System Consultants, Daifuku Co., Ltd., Sensec Solution AS (Initially DSG Systems), FB Technology, Honeywell International, Inc., Huawei Technologies Co., Ltd., IBM Corporation, Indra, SITA, Lufthansa Systems GmbH & Co. KG., QinetiQ, RESA, S.A.S., Sabre Corporation, Selex ES, Siemens AG, T-Systems, Thales Group, Vanderlande Industries, Vision-Box, Wipro Limited, and Zensors, among others.
Major 10 players in the market hold approximately 72.2% of the market share. These market players are investing in product launches, collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in July 2021, Collins Aerospace collaborated with the International Air Transport Association for supporting their Travel Pass digital health platform. The pass assists passengers to store, share, and manage the verified test results and information, which may be required for traveling to other countries.
Request Full Report- https://www.astuteanalytica.com/request-sample/smart-airport-market
The global smart airport market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Smart airport market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Smart airport market report answers questions such as:
- What is the market size and forecast of the Global Smart airport Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Smart airport Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Smart airport Market?
- What is the competitive strategic window for opportunities in the Global Smart airport Market?
- What are the technology trends and regulatory frameworks in the Global Smart airport Market?
- What is the market share of the leading players in the Global Smart airport Market?
- What modes and strategic moves are considered favorable for entering the Global Smart airport Market?
About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
Get in touch with us:
Phone number: +18884296757
More Report Here-