Smart Airports Market Size, Share and Competitive Landscape 2021-2025

Posted on 2021-11-03 by researchinsights in Technology // 0 Comments

San Jose, California , USA, Nov 03, 2021 — /EPR Network/ —

The Smart Airports Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.

Market Insights

The global smart airports market size was estimated at USD 10.09 billion in 2016 and is anticipated to reach USD 25.09 billion by 2025, with a CAGR of 10.7%. Initially, traveling by air was an expensive business and was predominantly used by executive class business professionals, political leaders, and high-income earners to travel to places. Only a few companies provided facilities for air transport owing to the moderately smaller passenger traffic. The major factor responsible for the expansion of the aviation industry is considered to be the high rate of globalization.

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The global aviation industry transformed eventually giving rise to a new aviation era of smart airports. Greater than before air passenger traffic and rising demand for air travel are the two foremost causes for the revolution in airports all over the world. In the present scenario, the airports are considered to be service providers offering new facilities as opposed to the earlier times when they were known to be infrastructure providers.

A smart airport system encompasses components, solutions, services and devices which optimize and powers the utilization of airways infrastructure for implementing advanced functions. It comprises of various components such as freight operations information systems, operations, check in and baggage management, communications, airways analytics, passenger information and reservation systems, air traffic management, IP-based security monitoring, and ticketing.

Smart Airport Technology Outlook (Revenue, USD Million; 2014 – 2025)

Security Systems
Communication Systems
Passenger, Cargo, & Baggage Ground Handling Control
Air/Ground Traffic Control
Others

Smart Airport Application Outlook (Revenue, USD Million; 2014 – 2025)

Aeronautical Operations
Non-Aeronautical Operations

Key Players Analysis covered in these report

Siemens
Amadeus
Honeywell
Delair Air Traffic Systems
IBM
Deerns Airport System Consultants and many others

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Europe market for smart airports accounted for the majority of the overall market in the past few years. Europe has been benefitted mainly due to the extensive initiatives for airport automation. Asia Pacific market is expected to witness the fastest growth rate over the next eight years. Factors responsible for its high growth rate includes a steady rise in the number of operating airports, increasing demand for airport information systems, rising adoption of innovative airport technologies, and enhanced system of baggage handling.

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