Airport Information System Market To Reach US$ 70 Bn Valuation By 2030

The global airport information system market is expected to grow at a CAGR of 7% during the forecast period of 2020 to 2030. The global airport information system market is expected to reach US$ 70 Bn by 2030 from US$ 30 Bn in 2020. Increasing adoption of digitized technology at airports and IoT connected devices by end users is expected to drive the growth of the market.

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Key Growth Drivers of Airport Information System Market

Rising IT spending on airports - The continuously growing IT spending on airports is identified as a key factor bolstering the airport information system market worldwide. Rising IT spending on airports can be construed as increasing investment by companies to lower their operating expenditure (OPEX) and deploy modern technologies such as wireless connectivity, automated solutions, and check-in kiosks.

With rising investments in IT & telecommunications, airport authorities intend to provide various infrastructural services in order to deliver higher-control, connected, and convenient travel experiences to their passengers. This growth driver is predicted to have a high impact in the medium and long-term of the forecast period due to high IT & telecommunication spending in the airport sector.

Increasing number of air passengers leading to high airport traffic - The growing number of air passengers worldwide is acting as a major catalyst for rising investment in smart airports. Rising incomes with increasing competition and liberalization in emerging aviation markets is expected to boost the global airport traffic in the coming decades, which in turn is encouraging the deployment of various new technologies and solutions at airports to improve passenger experience. According to the International Civil Aviation Organization, in 2018, approximately 8,200 billion passenger kilometers were travelled at a YoY of 7.1% in comparison to the previous year. This growth driver is projected to have a high impact in the short and medium term of the forecast period.

In airport information systems, everyone needs to be able to access the data and applications from any location. This requires airports to have a reliable, secure, and robust IT and communications infrastructure. Creating this robust infrastructure requires high initial investment and also needs several critical airport processes to be optimized, so that the heavy workload requirements needed by airport users are met.

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The mobile devices of airport passengers have to be connected to all the relevant airport systems most of the time to grab the benefits of various end-to-end self-services. This is driving the need to deploy airport information systems with continuous high connectivity and robust infrastructure, which is gaining traction due to increasing demand for customer centricity, commercialization, and collaboration and to fulfil the requirements of all upcoming smart airports with all such facilities. This is identified as a challenge to the market due to high investment required.

Asia Pacific Region to Showcase Maximum Rate of Growth

The adoption of robots is significantly high at airports in the Asia Pacific region followed by Europe. Robotics is expected to play a pivotal role in redefining baggage handling due to which, autonomous baggage handling carts or baggage robots are currently being tested. Due to giant strides taken by novel technologies such as artificial intelligence and machine learning, modern-day robots are likely to offer accurate information to passengers– a major innovation in the airport information system market that is expected to boost market growth during the forecast period.

The research study includes profiles of leading companies operating in the global airport information system market. Key players profiled in the report include Amadeus IT Group SA, Honeywell International, Inc., INFORM Software, Intersystem Pty. Ltd., Lockheed Martin Corporation, Lufthansa Systems GmbH & Co. KG, RESA, S.A.S., Siemens Industry Inc., SITA, Velatia, S.L. and Vision-Box.

Global Airport Information System Market: Segmentation

Airport Information System Market, by Airport Category

Commercial Service Airport
Cargo Service Airport
Reliever Airport
Airport Information System Market, by Operation

Airside
Terminal Side
Airport Information System Market, by Solution

ACDM
Resource Management Solutions
P.A. System
Baggage Processing
Passenger Processing
Airport Operations
Airport Information
AODB
Others

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This release was published on openPR.