Press release
Smart Airports Market Explosion: $10.16 Billion by 2030 | Meticulous Research®
The Smart Airports Market is anticipated to reach $10.16 billion by 2030, with a compound annual growth rate (CAGR) of 7.8% from 2024 to 2030. This growth is fueled by increasing investments in advanced airport technologies, the widespread use of self-service solutions, and the growing implementation of smart solutions aimed at boosting non-aviation revenue. Additionally, the rising use of smartphones for seamless check-in processes and the growing adoption of automated baggage handling systems are set to provide substantial growth opportunities for stakeholders in the smart airports market.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
Growing Investments in Advanced Technology at Airports to Propel Market Growth
Airports are strategically channeling investments into key technologies to enhance the passenger experience at every stage of their journey, aiming to reduce bottlenecks and tackle workforce challenges. The 2022 Airport IT Insights Survey indicates that the airport industry's IT spending is expected to continue its steady year-on-year growth, with 93% of airports projecting that their IT budgets will either remain stable or increase in 2024 compared to 2022.
Both airlines and airports are focusing their investments on technologies that streamline the passenger experience, allowing staff to be redirected toward more complex tasks. As a result, the adoption of biometrics and self-service technologies is on the rise.
Airlines view self-service technologies as crucial for managing irregular operations, making them a top investment priority. These innovations include touchless solutions and biometric identification management. For example, in June 2024, JFK International Air Terminal, LLC (U.S.) implemented Amadeus' Auto Bag Drop and Next Generation Kiosk self-service technology. Consequently, the surge in investments in advanced technologies at airports is poised to drive significant growth in the smart airports market during the forecast period.
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Key Findings in the Global Smart Airports Market Study:
Based on Offering, the Systems Segment to Account for the Larger Share of the Smart Airports Market
Based on offering, the global smart airports market is broadly segmented into systems and services. In 2024, the systems segment is expected to account for the larger share of the global smart airports market. The large market share of this segment can be attributed to factors such as the rising adoption of smart airport systems to enhance the overall travel experience for passengers, the rising investments in advanced technology at airports, and the increasing initiatives aimed at implementing top-tier security and cybersecurity measures at airports.
Based on Application, the Terminal Side Segment to Account for the Largest Share of the Smart Airports Market
Based on application, the global smart airports market is broadly segmented into terminal side, landside, and airside. In 2024, the terminal side segment is expected to account for the largest share of the global smart airports market. The large market share of this segment can be attributed to the growing integration of baggage handling systems at airports, an increase in passenger traffic, and the increased deployment of digital signage for various purposes, such as advertising, emergency notifications, and way-finding information.
Additionally, the rising utilization of smart airport solutions is expected to fuel the growth of this segment. For instance, in October 2024, Munich Airport introduced baggage trolleys equipped with built-in smart technology, enabling travelers to receive flight information and real-time updates via a built-in tablet. Similarly, in August 2024, an intelligent computer vision platform was installed at Bengaluru airport in India. This platform collects images from 500 live camera feeds, allowing airport staff to efficiently track everything from people to unattended luggage and manage passenger flow more effectively at congestion points.
Based on technology, the IoT Segment to Account for the Largest Share of the Smart Airports Market
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 2024, the IoT segment is expected to account for the largest share of the global smart airports market. The large market share of this segment can be attributed to the increased adoption of location tracking and facial recognition solutions, the increasing use of electronic tags and sensors for baggage tracking and tracing, and the growing deployment of IoT cameras equipped with facial recognition features to enhance safety at airports.
North America: The Largest Regional Market
Based on geography, the global smart airports market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the global smart airports market. North America's major market share can be attributed to the increased spending on technology by airports, the growing implementation of self-service solutions, increased deployment of biometric boarding to manage passenger traffic, and the rising adoption of smart solutions to address flight delays and cancellations.
Some of the recent developments are as follows:
• In May 2024, Honeywell International Inc. (U.S.), a company operating in areas such as aerospace, building technologies, and performance materials and technologies, launched an updated suite of airside solutions, with enhancements to its gate and turnaround and airfield lighting portfolios, including the Honeywell NAVITAS Smart Visual Docking system.
• In May 2022, Miami International Airport (MIA) announced its plans to implement biometric boarding for international flights across all of its 130+ gates in collaboration with SITA (Switzerland), with the expected completion by 2024.
Key Players:
Key Players:
Honeywell collins okinyo Siemens Daifuku Amadeus Huawei Cisco IBM Jason Hales Schneider Electric Wipro Sabre Corporation ASCENT GorillaTech Records
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Scope Of The Report
By Offering
• Systems
o Security Systems
o Communication & Network Systems
o Information Management Systems
o Air & 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
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
By Technology
• IoT
• AI
• Cloud Computing
• Blockchain
• Big Data And Analytics
• 5G
• Other Technologies
Related Report
Airport Logistics Systems Market : https://www.meticulousresearch.com/product/airport-logistics-systems-market-4390
Airport Security Market: https://www.meticulousresearch.com/product/airport-security-market-5772
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