Global Smart Airports Market Projected to Touch US$19.33 bn by 2024

An insightful study, titled “Smart Airports Market” has been freshly broadcasted to the vast research repository of Market Research Reports Search Engine (MRRSE). This research study provides detailed comprehensions and forecasts future growth of the global market with an in-depth study of the factors impacting revenue growth throughout the mentioned forecast period. Further, a deep analysis on the major players from diverse regions is also present in the report.

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Some of the leading players operating in the global smart airports market are Siemens AG, Cisco Systems, Inc., and IBM. Top companies in the market are currently developing new and innovative products by integrating physical and digital infrastructures. These players mainly opt for strategic partnerships and acquisitions in order to consolidate their shares. A number of emerging players are developing products that are focused on transforming airport operations as well customer experience, in a move to explore new revenue streams in the market. Some of the players fast emerging in the market are QinetiQ, Amadeus IT Group, and The Raytheon Company. Companies anticipated to grow at a medium pace and have a robust standing include SITA and Honeywell International Inc.

The global market for smart airport solutions stood at US$7.56 bn in 2015 and is projected to expand at a CAGR of 10.8% from 2016 to 2024. The market is anticipated to reach US$19.33 bn by the end of the forecast period.

Based on application, the market is mainly segmented into core and business applications. Of these, the core application segment held the leading share in the market. The segment is anticipated to remain dominant, rising at the leading CAGR of 18.4% during the forecast period. The growth is majorly fueled by substantial investments by airport operators and airlines in various core applications, including next-generation web technologies. Regionally, the market is segmented into North America, Europe, the Middle East & Africa, Asia Pacific, and Latin America. Of these, North America presently leads the global market.

The intensifying demand for automated services in the airline industry to enhance passenger experience and bring vast process improvements is a key factor driving the smart airports market. The rising demand for self-service solutions at airports for a variety of tasks such as bag recovery, check-in, and flight rebooking is expected to boost the market. The growing need for boosting passenger touch-points is a key factor bolstering the adoption of smart airport solutions among various stakeholders. The need for continuous, real-time communication is a key factor propelling the demand for smart airport solutions. In addition, the rising need for advanced security capabilities is a key factor catalyzing the demand for smart airports solutions.

The soaring passenger traffic in various parts of the world and the burgeoning IT spending to constantly improve operations are the key factor expected to accentuate the smart airports market. In addition, the rise in IT spending toward the adoption of smart, real-time communications anytime, is a key factor expected to boost the smart airports market. The growing popularity of the self-service solutions at airports such as bag recoveries, check-ins, and flight re-bookings is a prominent trend bolstering the uptake of smart airport solutions. Furthermore, the growing adopting of digital grids that enable real-time operations and process integration in the airline industry is a key trend boosting the market.

The high upfront cost required for maintaining high connectivity and the high investment required for a robust infrastructure are the key factors likely to hinder the market to an extent. Nevertheless, the need for lowering operating expenditure (OPEX) of the airline industry and explore new revenue streams are the key factors stimulating the demand for smart airport solutions. A number of emerging and maturing communications technologies are propelling the demand for new business models and strategies, to sustain a high growth in the airline industry.

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The emergence of new corporate governance requirements in various developing and developed nations is a crucial trend anticipated to create lucrative avenues in the coming years. The demand for personalized and media-rich passenger services by unleashing next generation web technologies is further expected to throw up exciting opportunities for vendors.

The report includes an overview of the market strategies, annual revenues, and the recent developments of key companies operating in the market. The key market participants profiled in this study include Amadeus IT Group SA, IBM Corporation, Vision-Box, Siemens AG, Honeywell International, Inc., CISCO System, Inc., Thales Group, SITA, QinetiQ Group PLC, and Raytheon Company.

Market Segmentation:

Smart Airport Infrastructure Analysis

Endpoint Devices
Sensors
Tags
IP Phone
Video Conferencing
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
E-gates
Air/Ground Traffic Control
Smart Systems & Scalable Air Traffic Management Solutions (ATM)
Automated Passport Control
Security Systems
Biometrics
Alerts & Cyber Security
E-Fence & Ground Surveillance Radar
E-Tag System
Others (Navigational, Landing Aids, Digital Signage, Airport Management Software)

Smart Airport Solutions Analysis

Terminal Side
HVAC
Lighting Control
Digital Video Surveillance and Management (DVM)
Fire and Life Safety Solutions
Energy Management
Life Cycle Services
Building Management and Automation Systems
Airside
Advanced Visual Docking Guidance System (A-VDGS)
Airfield Ground Lighting (AGL)
Surface Movement Guidance
Runway Improvement and Apron Management
Digital and Radar Video Surveillance
Landside
Parking
Access Roads
Perimeter Security
Car Rental
Mass Transit
Airport City

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