Smart Airport Market Precise Outlook 2021 – Honeywell Corporation Inc., Rockwell Collins, Inc., SITA, Siemens

The Global Smart Airport Market size is estimated to be USD 14.96 billion in 2019 and is predicted to reach USD 46.69 billion by 2030 with a CAGR of 10.9% from 2020-2030.

The adoption of smart technology in airports has enabled to provide hassle-free passenger journey for the passengers. The motive for constructing a smart airport is to have systems and processes in a well-organized manner to provide efficiency and connectivity with the processes. This growing connectivity with technologies has helped to improve the accessibility. The use of devices with innovative features such as customer identification, biometric recognition, automated check-in have increased and are supporting the management and control of large airport databases.

The airports around the world are updating with smart technologies to have security and communication systems and real-time air/ground traffic control management. The smart airport accumulates passenger information and provides them the real-time information about the flight status, parking updates, nearest retail locations, and other value-added benefits to the passenger. The implementation of queue management systems using CCTV to predict the waiting time required for check-in can be provided. Also, the airports are focusing on the enhancement of passenger travel experience and are adopting the smart airport approach.

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Top Companies: Honeywell Corporation Inc., Rockwell Collins, Inc., SITA, Siemens, IBM Corporation, Amadeus IT Group SA, Larsen & Toubro, Raytheon, Kiewit, and Cisco Systems Inc and others.

Market Dynamics and Trends:

The key factors including increasing users of smartphone globally, demand for real-time information, and adoption of self-service technologies at airports are driving the smart airport market. Further, increasing focus on customer-centric approach is supplementing the market growth. The difficulties in data collaboration and stringent governmental regulations about airport may limit the growth the smart airport market. The trends for personalized services are increasing and this will create new opportunities for the market growth in future.

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Market Segmentations and Scope of the Study:

Global Smart Airport Market share is analysed on the basis of technology, airside, terminal side, landside, application, and geography. On the basis of technology, the market is segmented into communication systems, security systems, cargo & baggage handling, air/ground traffic control, endpoint devices, and other. On the basis of airside, the market covers air traffic management, aircraft parking, resource management, aircraft maintenance, and others. On the basis of terminal side, the market is classified into check-in systems, baggage handling, building operations, and sustainable energy management. On the basis of landside, the market is divided into security, vehicular parking, and intelligent advertising. On the basis of application, the market is segmented into aeronautical operations and non-aeronautical operations. The regional analysis of the market comprises of North America, Europe, Asia Pacific, and Rest of the World.

Geographical Analysis:

North America denotes a higher adoption of the smart airport and is anticipated hold the highest market share during the forecast period. The rapid developments at smart airports across the U.S., technological development, presence of leading players in this region, and government initiatives for implementing advanced solutions at airports are key driving reasons that has increased the regional share of the North America in this market.

Asia-Pacific region would witness increasing market size and is expected to grow with highest CAGR during the forecast period owing to increasing improvement in airports, adoption of technologies such as artificial intelligence, biometric-enabled bag drop facilities, and robotics in Japan and China.

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