Smart Airport Market Focus On Challenges, Opportunities And Growth Factor 2028

According to Premium Market Insights new research study on "Smart Airport Market size is expected to grow from US$ 26,073.62 million in 2022 to US$ 66,763.46 million by 2028; it is expected to grow at a CAGR of 17.0% from 2022 to 2028.

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Some Of the Major Players Influencing are Honeywell International Inc.; Cisco Systems Inc.; Huawei Technologies Co., Ltd; Indra Sistemas SA; Amadeus IT Group SA; SITA; Collins Aerospace; Daifuku Co. Ltd.; Thales Group; and T-Systems International GmbH. are among the players operating in the global smart airport market and profiled in this market study.

One of the significant trends in the smart airport market is the increasing demand for economical and streamlined systems in airports. The International Air Transport Administration reports that airports' operational expenses can reach up to US$ 13.69 per passenger, including aeronautical and non-aeronautical revenues. However, the current systems used in airport operations can be costly and require regular maintenance, upgrades, and servicing, resulting in additional expenses for the airports.

Smart parking is an excellent illustration of a cost-effective airport system that is gaining momentum in smart airports. These systems guide passengers to available parking spaces and can be integrated with e-ticketing for a seamless passenger experience. By improving the operational efficiency and reliability of parking areas, these mobile smart parking apps help airports generate higher revenue while keeping costs low.

Impact of COVID-19 Pandemic on Smart Airport Market

The global passenger traffic witnessed a significant and steady increase over the past decade, but the COVID-19 pandemic disrupted activities at airports worldwide in the second quarter of 2020, resulting in a sharp decline in the overall number of passengers in 2020 compared to 2019. The Middle East region was severely impacted, with a 69.3% drop in air passengers in 2021 due to its dependence on foreign travel and connectivity, which is recovering at a slower pace than domestic travel. In contrast, South America is expected to recover more quickly than other regions in 2021. Despite facing significant challenges, the path to recovery is gradually becoming clear, and smart airports are playing a crucial role. For instance, Dubai Airports collaborated with Huawei to develop a smart airport that delivers what consumers desire: short queues, seamless online services, and punctual flights. Smart airports in the UAE are emphasizing features such as free Wi-Fi, smart gates, data collection and sharing, airport apps, demand forecasting, asset management and maintenance, and monitoring of aircraft punctuality rates. Furthermore, Dubai International Airport plans to expand its capacity to accommodate 120 million passengers per year by 2023, up from the current capacity of 90 million.

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The UK holds the second-largest market share in the European smart airport market, with London Heathrow Airport and Edinburgh International Airport being the country's two fully operational smart airports. These airports are among the busiest in the region, catering to a significant volume of passengers every year, and are constantly exploring new smart airport technologies to enhance their operational infrastructure. For example, Heathrow Airport recently conducted a trial of Amadeus' touchless bag drop technology in 2021. Although the airports in the UK are taking measures to recover from the revenue loss caused by the COVID-19 pandemic, the recent Border IT failure in 2021 disrupted electronic passport gates across all UK airports. This and other similar IT challenges could impede the adoption of smart technologies in the UK's smart airport market.

During the forecast period, the Asia Pacific (APAC) region is projected to experience the highest growth rate in the global smart airport market. The market analysis for smart airports in the APAC region covers countries such as Australia, China, India, Japan, South Korea, and the remaining countries. In 2022, the rest of the APAC region is expected to hold the second-largest share in the smart airport market in the APAC region.

Singapore, Malaysia, Indonesia, and Thailand are included in the Rest of the APAC region, home to some of the world's largest smart airports, such as Singapore Changi Airport. Kuala Lumpur International Airport and Indonesia International Airport also implement intelligent systems to reduce boarding time and enhance the passenger experience. In an effort to deploy various smart airport systems, airports across the region are implementing several initiatives. For example, SITA installed 100 biometric-enabled self-service Smart Path kiosks - the TS6 and SITA Smart Path Bag Drop at Kuala Lumpur International Airport in December 2021. Furthermore, in 2020, the Thai government announced its partnership with a Chinese telecommunications company to provide 5G networking and services as part of the country's 'smart airport' initiative, starting with Krabi airport as a pilot project. These developments are expected to propel the growth of the smart airport market in the Rest of APAC region in the near future.

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The smart airport market size has been determined through a comprehensive approach that combines primary and secondary research. The research process commenced with extensive secondary research from various internal and external sources to gather qualitative and quantitative data on the smart airport market. This approach aimed to provide an overview and forecast of the smart airport market growth across all segments. In addition, several primary interviews were conducted with key industry participants and experts, such as VPs, business development managers, market intelligence managers, national sales managers, valuation experts, research analysts, and key opinion leaders, to verify the collected data and obtain valuable analytical insights on the market.

Table Of Contents

Introduction
1.1 Study Scope

1.2 Research Report Guidance

1.3 Market Segmentation

Key Takeaways
Research Methodology
3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

Smart Airport Market Landscape
4.1 Market Overview

4.2 PEST Analysis

4.2.1 North America

4.2.2 Europe

4.2.3 Asia Pacific

4.2.4 Rest of the World

4.3 Ecosystem Analysis

4.4 Expert Opinion

Smart Airport Market - Key Industry Dynamics
5.1 Market Drivers

5.1.1 Growing Investments from Airport Authorities for Deployment of Smart Connected Systems

5.1.2 Focus of Vendors on Customer-Centric Offerings

5.2 Market Restraints

5.2.1 Threat of Cyberattacks to Smart Airport Systems

5.3 Market Opportunities

5.3.1 Airport Construction Initiatives Expected to Drive Future Demand

5.4 Future Trends

5.4.1 Emerging Need for Cost-Effective Airport Systems

5.5 Impact Analysis of Drivers and Restraints

Continued…...!

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