Smart Airports Market Growth, Analysis, Latest Trends and Forecast till 2025

Northbrook, USA, 2021-Sep-27 — /EPR Network/ —

The report “Smart Airports Market by Application (Landside, Airside, Terminal Side), End Market (Implementation, Upgrades & Services), Type (Airport 2.0, Airport 3.0, Airport 4.0), Operation, System, Airport Size, Technology, and Region – Global Forecast to 2025″, is projected to reach USD 6.4 billion by 2025 from USD 2.2 billion in 2019, registering a CAGR of 19.8% from 2019 to 2025. Improved passenger experience with the help of real-time information is a significant growth driver for the smart airports market. Optimization of airport operations and increased connectivity also drive this market.

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By application, the airside segment is expected to be the largest contributor to the smart airports market during the forecast period.

The airport industry is one of the most competitive and prominent industries in the world. It generates huge amounts of income as well as employment. Airport areas can be divided into airside, landside, and terminal side. The airside application segment accounted for 62.7% of the smart airports market in 2019. This application segment includes air traffic management and aircraft turnaround management, among others. In recent years, the adoption of smart applications for airside operations has increased. By effectively utilizing IoT, AI, and big data, airports have the potential to greatly reduce the wait time for passengers and address some of the most frequently faced problems, such as lost bags, flight delays, and customer service issues.

By airport size, the medium segment is expected to be the largest contributor to the smart airports market during the forecast period.

Airports are experiencing high passenger traffic, which keeps on growing year-on-year. Thus, airports’ revenue is directly proportional to the passengers they handle. Large and medium airports handle more than 70% of the world’s air passenger traffic. Thus, with increasing air traffic, airports need to upgrade and implement smart systems to facilitate effective airport operations. Medium airports are leading the market as there are large numbers of medium airports across the globe. The immediate need for these airports is to implement self-service check-ins and baggage drop units to minimize the passenger wait time and reduce delays. In small airports, the installation of smart solutions is limited to self-service check-ins.

North America is projected to lead the smart airports market during the forecast period.

The US and Canada are the countries considered for the study of the smart airports market in North America. North America accounted for a share of 28.0% of the smart airports market in 2019, with the US leading the market in the region. The global need for optimizing operations at airports is fueling investments in the areas of smart applications. Implementation of IoT, AI, and big data in airport operations has the potential to bring greater visibility, besides optimizing the business process. Keeping in mind the current passenger growth rate as well as the increase in fleet size of airlines, airports are required to make data-driven decisions by leveraging new technologies, such as IoT, AI, and Blockchain.

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The presence of major airports in the US has resulted in high investments in the field of smart airports in North America. This makes North America one of the prime regions for the implementation of smart applications at airports. The leading smart solution providers in North America include Cisco Systems, Inc. (US), IBM Corporation (US), Collins Aerospace (US), Honeywell International Inc. (US), and Sabre Corp. (US).

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