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Smart Airport 4.0 Market Market Size Outlook, Supportive Judgments
It leverages big data and Internet of Things (IoT) technologies to provide real-time insights and enable paperless operations, leading to enhanced operational efficiency and reduced costs.
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One of the key drivers of market growth is the increasing air passenger traffic globally, especially in the post-COVID era with the resurgence of tourism. For example, Asia-Pacific airlines experienced a significant rise in passenger traffic in September 2022 compared to the same period in 2021.
Europe also witnessed growth in air traffic during that time. This increased air travel activity contributes to the demand for smart airport solutions. Additionally, the adoption of smart applications for airside operations and investments in greenfield airports further drive market growth.
However, the high deployment costs associated with IoT and AI solutions pose a challenge to market growth throughout the forecast period.
In terms of regional analysis, North America dominates the Global Smart Airport 4.0 Market due to the presence of leading aviation IoT and AI solutions providers and the digitalization efforts across airports in the region. On the other hand, Asia Pacific is expected to exhibit the highest growth rate during the forecast period.
The region benefits from increasing investments in the development of greenfield airports, advancements in existing airport infrastructure, and the penetration of key market players.
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Some of the major players in the Global Smart Airport 4.0 Market include Collins Aerospace, IBM Corporation, Huawei Technologies Co. Ltd., Cisco Systems Inc., Sabre Corp., Amadeus IT Group SA, Honeywell International Inc., Siemens AG, Thales Group, and Indra Sistemas S.A.
In a recent development in September 2022, Malaysia Airports partnered with Maxis to develop a digital transformation roadmap for Smart Airport operations. This partnership aims to digitize Malaysia Airports' operations under the Airports 4.0 initiative, with Maxis managing connectivity services for the airports.
The report covers historical data from 2019-2021 and provides a forecast period from 2022 to 2029. It includes revenue forecasts, company rankings, competitive landscape analysis, growth factors, and trends. The market is segmented based on operation (aeronautical and non-aeronautical), application (airside, air traffic maintenance, aircraft maintenance, passenger screening, and others), size (large, medium, and small), end market (implementation and upgrade & services), and region.
The objective of the study is to define market sizes, analyze driving factors and challenges, and identify potential opportunities in micro markets. The report incorporates both qualitative and quantitative aspects of the industry and provides detailed analysis of the competitive landscape and product offerings of key players.
The global Smart market report answers questions such as:
• What is the market size and forecast of the Global Smart airport Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Smart airport Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Smart airport Market?
• What is the competitive strategic window for opportunities in the Global Smart airport Market?
• What are the technology trends and regulatory frameworks in the Global Smart airport Market?
• What is the market share of the leading players in the Global Smart airport Market?
• What modes and strategic moves are considered favorable for entering the Global Smart airport Market?
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