Press release
Smart Airport Market is Estimated to Slowly Expand at 3.30% CAGR through 2031; Growing Demand for Better Air Travel Experience to Aid Growth
Skyquest Technology
Smart Airport Market [https://www.skyquestt.com/report/smart-airport-market] size was valued at USD 6.90 billion in 2022 and is poised to grow from USD 7.13 billion in 2023 to USD 322.01 billion by 2031, growing at a CAGR of 3.30% in the forecast period (2024-2031).
Rapidly increasing penetration of smart technologies across all industry verticals sets the tone for smart airport market growth going forward. Increasing investments in improving airport operations and growing adoption of smart technologies in the aviation industry are also projected to bolster the demand for smart airports over the coming years. Growing number of air travelers around the world are also expected to play a crucial role in governing the smart airport demand outlook.
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Top Player's Company Profiles
* Honeywell International Inc. (US)
* Siemens AG (Germany)
* Cisco Systems Inc. (US)
* Thales Group (France)
* IBM Corporation (US)
* Amadeus IT Group SA (Spain)
* Collins Aerospace (US)
* SITA (Switzerland)
* NEC Corporation (Japan)
* Huawei Technologies Co. Ltd. (China)
* Rockwell Collins (US)
* Indra Sistemas S.A. (Spain)
* Gentrack (New Zealand)
* T-Systems International GmbH (Germany)
* Vanderlande Industries (Netherlands)
* Wipro Limited (India)
* Infosys Limited (India)
* Intelsat SA (Luxembourg)
* Daifuku Co., Ltd. (Japan)
* NEC Display Solutions (Japan)
Evolving consumer preferences and growing acceptance and demand for smart technologies among air travelers are slated to empower smart airport market growth. Tackling the high costs of smart airport development and operations is a challenge that all market players are trying to overcome. Advancements in IoT (Internet of Things) and smart connected technologies are also expected to alter the global smart airport market growth trajectory in the long run.
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Segments covered
System
Communication & Connectivity (Wireless, Near-field Communication RIFD Bluetooth and LPWAN & WLAN), Endpoint Services (Cameras, sensors Displays, Tags, Wearables and Beacons), Data Storage (Cloud and On-Premises) and Software & Solutions (Software & Applications, Data Analytics, Platforms and Managed Services)
Application
Landside (Intelligent Advertising, Vehicle Parking and Car Rental & Mass Transit), Terminal Side (Building Management, Passenger Screening, Passenger Experience, Staff & Crew Management, Behavioural Analytics, Cargo & Baggage Handling and Payment & Tokenization), and Airside (E-Fence, Ground Support Equipment Management, Aircraft Maintenance, Air Traffic Management, Noise Monitoring, Aircraft Turnaround Management and Advanced Visual Docking Guidance System)
Airport Size
Large, Medium and Small
Airport Technology
Airport 2.0, Airport 3.0 and Airport 4.0
Operation
Aeronautical (Content Management, Business Intelligence, Real-time Services and Supply Chain Management), and Non-Aeronautical (Real-time Services, Business Intelligence, Intelligent Transport Services, Inventory Management, Fee Management and Resource Management)
Upgradation of Existing Airports with Smart Technologies Creating Opportunities for Smart Airport Companies
Rapidly increasing number of air travelers are rendering existing airport infrastructure inadequate for an ideal travel experience. This is why most airports are investing in the development of their infrastructure and opting for smart technologies. From luggage checking to passenger arrival and departure, smart airport companies can target almost any operation of an airport to develop a new smart technology or product for the same. Solving the current challenges and improving travel experience for passengers are two main factors that create endless opportunities for smart airport market players. Government contracts for airport development will also be a prime focus for smart airport providers to maximize their revenue generation potential in the future.
* Cochin International Airport Limited in Kochi, India, announced its plans to add smart gates and self-immigration facilities to the airport in July 2024. International passengers will be able to complete their immigration process themselves at smart gates using the Union Ministry of Home Affairs (MHA) portal in 20 seconds.
* Efforts are underway to transform the Dubai International Airport (DXB) into a smart airport over the next decade. With the flourishing tourism industry of Dubai, the DXB airport will reach its maximum capacity soon and this is why the authorities are focusing on opting for smart technologies to enhance their operations and improve travel experience.
* In July 2024, the Berlin Brandenburg Airport took one step in the direction of becoming a smart airport by introducing BER Biometrics. This new smart feature will allow passengers to depart from Terminal 1 without having to show their boarding pass and use facial recognition for contactless departure.
* In a collaboration between the Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) and Abu Dhabi Airports, a new Smart Travel initiative was launched in July 2024. The project is expected to help improve the travel experience by optimizing travel processes using smart technologies at Zayed International Airport.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/smart-airport-market
Smart airports are projected to be huge in the future and most airports around the world are already investing in becoming smart. High investments in smart infrastructure development and a growing number of smart cities will also supplement the demand for smart airports. New companies need to focus on innovation to compete with the leading market players. Collaborations are also expected to emerge as popular strategies for smart airport providers looking to expand their business potential in the future.
Related Reports:
Blockchain Market [https://www.skyquestt.com/report/blockchain-market]
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Media Contact
Company Name: Skyquest Technology
Contact Person: Mr. Jagraj Singh
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=smart-airport-market-is-estimated-to-slowly-expand-at-330-cagr-through-2031-growing-demand-for-better-air-travel-experience-to-aid-growth]
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Country: United States
Website: https://www.skyquestt.com/report/smart-airport-market
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