Press release
Global Airport Technologies Market Comprehensive Study: Forecasted Market Size And Growth Rate | Thales ATM S.A., Honeywell Airport Solutions Inc., Siemens Airports LLC
Airport Technologies Market Size
The Business Research Company offers in-depth market insights through Airport Technologies Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The airport technologies market size has grown strongly in recent years. It will grow from $13.02 billion in 2023 to $13.74 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to air travel growth, security enhancements, passenger experience, sustainability initiatives.
The airport technologies market size is expected to see strong growth in the next few years. It will grow to $16.71 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to smart airports, biometrics and contactless travel, automation and robotics, sustainable practices. Major trends in the forecast period include digital transformation, biometrics and facial recognition, smart security systems, artificial intelligence (ai).
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Market Segmentation:
The main types of airport technologies are airport digital signage systems, car parking systems, airport communications, landing aids, guidance and lighting, passenger, baggage and cargo handling control systems, and airport management software. Landing aids help aircraft in an approach and landing, flashing light, radio beacon, communicating device or radar device or any system are some landing aids. Airport technologies are used in small, medium and large domestic airport and international airports.
Major Driver - Rising Concerns Over Illegal Immigration Drive Adoption Of Advanced Airport Technologies
Rise in illegal immigration is a key driver of the airport technologies market. For instance, in May 2023, according to the European Commission, the Belgium-based executive arm of the European Union (EU), focused on policies and regulations, irregular border crossings in Europe surged to 331,400 in 2022, marking a 66% increase compared to 2021. To curb illegal immigration, advanced airport technologies are being increasingly used. In this regard, airport technology in the form of facial recognition has led to many arrests for illegal immigration at airports. Similarly, technologies such as Mobile Passport Control (MPC) and radio-frequency identification (RFID) based tracking solution have been deployed in many airports. The MPC technology uses a mobile app that allows US citizens or visitors from Canada to expedite their entry into the USA. This app has been approved by the U.S. Customs and Border Protection (CBP).
Competitive Landscape:
Major companies operating in the airport technologies market include Thales ATM S.A., Honeywell Airport Solutions Inc., Siemens Airports LLC, Raytheon Technologies Corporation, Cisco Systems Inc., Hitachi Ltd., Bosch Security Systems Inc., Rockwell Automation Inc., Analogic Corporation, Smiths Detection International Ltd., Oshkosh Corporation, MATRIX SYSTEMS Inc., DSG SYSTEMS AG, Airport Information Systems Ltd., Garrett Metal Detectors LLC, KUKA Aktiengesellschaft, Pensher Skytech Limited, Vanderlande Industries Holding B.V., Syagen Technology Inc., Arinc Inc., A4 Vision Inc., American LaFrance LLC, Amadeus IT Group S.A., International Business Machines Corporation, Indra Sistemas S.A., ISO-Gruppe GmbH, Leidos Holdings Inc., NEC Corporation, Société Internationale de Télécommunications Aéronautiques, ADB SAFEGATE Holding AG, AirIT Inc., Avinor AS, Boon Edam Inc., Damarel Systems International Ltd., Daifuku Co. Ltd., EASIER Inc., Fentress Architects Ltd., Gentrack Group Limited, Gunnebo AB
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Top Trend - Automated Baggage Handling Systems Enhance Efficiency In The Airport Technologies Market
The implementation of automated baggage handling systems is an emerging trend in the airport technologies market. Automated baggage handling systems involve the use of small robotic vehicles that carry baggage from the conveyor belt, through the security system, and finally to the respective aircraft carriers. The use of this technology is expected to reduce the number of bags lost at airports. For instance, in May 2021, UK-based Stansted Airport completed a £70 million upgrade to its baggage handling system, adding 180 automated carts, 2.4 km of conveyor belts, and track to increase efficiency.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Airport Technologies Market Characteristics
3. Airport Technologies Market Trends And Strategies
4. Airport Technologies Market - Macro Economic Scenario
5. Airport Technologies Market Size And Growth
…..
27. Airport Technologies Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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