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

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Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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