Smart Airports Market to be Worth $10.16 Billion by 2030-by Meticulous Research®

According to a new market research report titled, 'Global Smart Airports Market by Offering (Systems, Services), Application (Terminal Side (Baggage Management, Passenger Management, Resource Management, Others), Airside, Ground Side), Technology (AI, IoT, 5G, Others), and Geography-Forecast to 2030, the smart airports market is projected to reach $10.16 billion by 2030, at a CAGR of 7.8% from 2023 to 2030.

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Smart airports are characterized by the implementation of intelligent systems, including sensors and purpose-configured devices strategically placed in various areas. These systems are designed to control, manage, and plan airport operations within a centralized digital environment. The integration of technologies like the Internet of Things (IoT), artificial intelligence (AI), and cloud computing has transformed airports into interconnected ecosystems, enhancing passenger experience, optimizing passenger flow, and improving overall operational efficiency.

The growth of this market is driven by the rising investments in advanced technology at airports, the widespread adoption of self-service solutions, and the increased utilization of smart solutions to enhance non-aviation revenue. Moreover, the growing adoption of smartphones for a seamless check-in process and the rising adoption of automated baggage handling systems are expected to create significant growth opportunities for stakeholders in the smart airports market.
However, concerns related to data privacy and security may restrain the market's growth. Additionally, issues associated with technology integration are some of the challenges for the growth of the smart airports market.

Furthermore, the increasing use of AI and 5G technology in airports and the growing adoption of biometric technology for automated identity verification are notable trends in the market.

The smart airports market is segmented by offering (systems [security systems, communication & network systems, information management systems, air and ground traffic control systems, passenger, cargo, and baggage handling systems, information display systems, building management systems, asset management, and parking management systems], and services [consulting services, integration & deployment services, support & maintenance services]), application (terminal side [baggage management, passenger management, retail operations, and resource management], airside [air traffic management, parking management, building operation, runway management, and other airside applications], and landside [parking management, and security]), and technology (IoT, AI, cloud computing, blockchain, big data and analytics, 5G, and other technologies)

Based on offering, the global smart airports market is broadly segmented into systems and services. In 2023, the systems segment is expected to account for the larger share of the global smart airports market. Moreover, the systems segment is projected to register the highest CAGR during the forecast period. This growth can be attributed to the growing demand for online and mobile check-in solutions at airports to streamline check-in processes and the increasing adoption of self-service solutions at airports. Furthermore, initiatives by key players to launch airport solutions are expected to contribute to the growth of this segment. For instance, in June 2022, Thales Group (France), a global technology leader, launched HELIXVIEW. This innovative, stationary, compact, and lightweight Cabin Baggage Explosive Detection System (EDS CB) enables passengers to keep items in their luggage during security checkpoints.

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Based on application, the global smart airports market is broadly segmented into terminal side, landside, and airside. In 2023, the terminal side segment is expected to account for the largest share of the global smart airports market. Moreover, the terminal side segment is projected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to several factors, including the increasing demand for smart technology to provide passengers with flight information and real-time updates, the widespread adoption of 5G technology in airports to enhance communication, and the rising deployment of AI robots in passenger terminals. Additionally, the rising investments aimed at digitizing airports are expected to contribute to the growth of this segment. For instance, in August 2022, the Israel Airports Authority (IAA) announced an investment of more than USD 15 million (ILS 50 million) to initiate the digital transformation of Ben Gurion International Airport with the aim of reducing passenger overloads and shortening waiting times.

Based on technology, the global smart airports market is segmented into AI, IoT, cloud computing, blockchain, big data and analytics, 5G, and other applications. In 2023, the IoT segment is expected to account for the largest share of the global smart airports market.

However, the AI segment is projected to register the highest CAGR during the forecast period. This growth is driven by the increasing adoption of AI to automate and optimize various airport processes, including baggage handling and security screening, and process large amounts of data to provide actionable insights to airport management. Additionally, the rising use of AI solutions for forecasting passenger demand contributes to the segment's growth. For instance, Abu Dhabi International Airport is leveraging big data and AI to implement the 'Smart Travel' system, aimed at improving passenger experience. Similarly, Eindhoven Airport in the Netherlands utilizes AI to enhance the turnaround process.
Moreover, the increasing investments aimed at integrating AI to enhance operational performance are anticipated to drive the growth of this segment. For instance, major airlines such as Delta Air Lines (U.S.), American Airlines (U.S.), and JetBlue (U.S.) are making substantial investments in AI to optimize their respective operations.

Based on geography, the global smart airports market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global smart airports market.

However, the market in Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is driven by factors such as the increasing investments in the construction of new airports and expansion of existing ones, a rapid surge in passenger traffic in countries like China, India, Japan, and South Korea, the widespread adoption of automation technologies throughout airports, and a growing emphasis on partnerships between airports and key market players for digital transformation.

Furthermore, airports in the region are digitizing processes such as online check-ins, e-boarding passes, and real-time flight updates, contributing to the market's growth. For instance, Asiana Airlines, Inc., a South Korean airline, facilitates seamless check-in through its web homepage or mobile app and provides passengers with e-boarding passes in advance.

Some of the recent developments are as follows:
• In July 2021, Bangalore International Airport Limited (BIAL), operator of Kempegowda International Airport, Bengaluru, partnered with IBM Corporation (U.S.) to accelerate digital and IT transformation. Under this ten-year partnership, IBM Corporation (U.S.) and Kyndryl Inc. (U.S.) will provide IT solutions to create a new "Airport in a Box" platform to enhance the end-to-end travel experience for passengers at BLR Airport.
• In August 2022, Changi Airport Group (Singapore) extended their collaboration for another three years to transform operations and enhance the experience for travelers visiting Singapore Changi Airport.

Key Players:
Some of the key players operating in the global smart airports market are Honeywell International Inc. (U.S.), Collins Aerospace (U.S.), SITA (Switzerland), Siemens AG (Germany), Daifuku Co., Ltd. (Japan), Amadeus IT Group SA (Spain), Huawei Technologies Co., Ltd. (China), T Systems International GmbH (Germany), Cisco System, Inc. (U.S.), IBM Corporation (U.S.), Thales Group (France), Schneider Electric SE (France), Wipro Limited (India), Veovo (U.K.), Sabre Corporation (U.S.), Ascent Technology (U.S.), Leidos, Inc. (U.S.), and Gorilla Technology Group Inc. (U.K.).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/smart-airports-market-5737

Scope of the Report:
Smart Airports Market Assessment-by Offering
• Systems
o Security Systems
o Communication & Network Systems
o Information Management Systems
o Air and Ground Traffic Control Systems
o Passenger, Cargo, and Baggage Handling Systems
o Information Display Systems
o Building Management Systems
o Asset Management
o Parking Management Systems
• Services
o Consulting Services
o Integration & Deployment Services
o Support & Maintenance Services

Smart Airports Market Assessment-by Application
• Terminal Side
o Baggage Management
o Passenger Management
o Retail Operations
o Resource Management
• Airside
o Air Traffic Management
o Parking Management
o Building Operation
o Runway Management
o Other Airside Applications
• Landside
o Parking Management
o Security

Smart Airports Market Assessment-by Technology
• AI
• IoT
• Cloud Computing
• Blockchain
• Big Data and Analytics
• 5G
• Other Technologies

Smart Airports Market Assessment-by Geography
• North America
o U.S.
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific
• Europe
o Germany
o U.K.
o Italy
o France
o Spain
o Rest of Europe
• Latin America
• Middle East & Africa

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This release was published on openPR.