The Global Market for Smart Airports in Terms of Annual Spending is Projected to Exceed US$19 Billion by 2024
Urgent Need to Transform
Airports as Passport to Smart, Seamless, and Stress-free Journeys Drive
Spending on Smart Airport Technologies, According to a New Report by Global
Industry Analysts, Inc.
GIA launches comprehensive analysis of industry segments, trends,
growth drivers, market share, size and demand forecasts on the global Smart
Airports market. The global market for Smart
Airports in terms of annual spending is projected to exceed US$19 billion by
2024, driven by the growing need to elevate passenger experience through
connected, intelligent, digitized, and personalized solutions; increase in passenger
traffic, and rising investments in airport IT infrastructure.
Smart airports represent seamless integration of airport infrastructure
with aircrafts and airlines using networked and connected data driven response
capabilities to create an immersive, personalized and multi-sensory ecosystem. Few
of the many services offered by smart airports include automated self checking,
baggage & document checking; flight booking management, and way finding
services in addition to smart terminal, air and landside solutions; and
automated border control and security checks, among others. Myriad benefits
offered by intelligent smart airports over conventional airports that are
driving robust demand for smart airport solutions include improved revenue
generation, better operational efficiency through improved functionality,
enhanced passenger’s travel experience through self-service facilities, reduced
queue lengths, service innovations, congestion management, event notifications,
and digital navigation, and smarter and more efficient security in terms of
detecting threats faster, responding swiftly, and mitigating associated impact.
Other benefits offered by smart airports include safety benefits in terms of
early warnings, location-specific responses, increased visibility, precision
docking information, and real-time situational awareness; security benefits;
efficiency benefits in terms of reduced energy consumption, cost control,
faster turnaround time, increased airport capacity, decreased air traffic
noise, and reduction in weather-related delays in addition to increased
productivity levels owing to integrated and streamlined information systems and
technology.
Strong growth is projected for the market in the coming years driven by
growing investments in airport IT infrastructure supported by higher focus on
costs reduction, enhancing operational efficiency and enhancing passenger
experience. Smarter airport infrastructure would rely heavily on digitalization
to enable better information flow among the various departments of ticketing,
baggage handling, and security. Another important growth driver is
transformation in traveler experience from the kerbside to the airside through
application of disruptive technologies including but not limited to Internet of
Things (IoT), Virtual Reality (VR), Augmented Reality (AR), Big Data
analytics, cognitive computing, and mobility, among others. Additional
technologies that are leveraged for addressing passenger, operations, and
retail domains and increase non-aeronautical revenues include machine vision,
Business Intelligence, Predictive Analytics, Blockchain, data discovery and
analytics, contextualized advertising, Cloud Services, and mobile/digital
payment, among others. Smart airport technologies such as beacons,
biometrics, and Near Field Communications
(NFC), among numerous other solutions, are also poised to benefit market
prospects in the near term. Pervasive use of smart devices such as tablets,
smartphones and wearables technology for communication and interaction
throughout airport operations offers a strong business case for flexible and
collaborative airport functioning. Continuous growth in passenger traffic
volumes and the resulting demand for automation systems and solutions to ease
the burden on airport infrastructure and workforce represent another important
factor benefiting adoption of smart airport technologies.
As stated by the new market research report on Smart Airports, Europe
represents the largest market worldwide, followed by the United States.
Asia-Pacific ranks as the fastest growing market with a CAGR of 9.1% over the
analysis period. Continuous rise in the number of operational airports, growing
adoption of advanced airport technologies, and rising demand for airport
information systems and improved baggage handling systems represent key growth
drivers in the region. The Middle East is another promising regional market for
smart airports, where a number of airports are pursuing projects that target
provision of seamless operations to passengers whereby smart technology
adoption at airports continue to gain prominence.
Key players in the market include Amadeus IT Group SA, Ascent
Technology, Inc., Cisco Systems, Inc., Daifuku North America Holding Company,
Ericsson AB, Gentrack, Honeywell Building Solutions, International Business
Machines (IBM) Corporation, Indra Sistemas, S.A, NEC Corporation of America,
NICE Systems Ltd., QinetiQ Group PLC, Raytheon Company, Sabre, Inc., Scarabee,
Selex ES S.P.A, Siemens AG, SITA SA, Thales S.A., and Wipro Ltd., among others.
The research report titled “Smart Airports: A Global
Strategic Business Report” announced by Global Industry Analysts Inc.,
provides a comprehensive review of market trends, issues, drivers, mergers,
acquisitions and other strategic industry activities of global companies. The
report provides market estimates and projections for major geographic markets
including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain,
Russia, and Rest of Europe), Asia-Pacific (Australia, China, India, and Rest of
Asia-Pacific), Middle East & Africa, and Latin America (Brazil, and Rest of
Latin America). Key applications analyzed in the report include Terminal-Side
and Others. Technology segments analyzed for the global market include Air
Traffic Management (ATM), Baggage, Building Operations, Check-In, Security, and
Others.
For enquiries
e-mail us at rsd@strategyr.com or info411@strategyr.com
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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