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Intelligent Airways Transportation Global Market Report 2024 Market Segments 2024-2033 | Size, Share And Insights
Intelligent Airways Transportation Global Market Report
According to The Business Research Company's, The intelligent airways transportation market size has grown strongly in recent years. It will grow from $18.27 billion in 2023 to $19.89 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to early adoption of rfid and barcoding, development of early ai systems, introduction of biometric authentication, emergence of iot in aviation, initial steps in sustainability.
The intelligent airways transportation market size is expected to see strong growth in the next few years. It will grow to $27.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to customer expectations and experience, sustainability and green initiatives, cybersecurity and risk management, data analytics and decision-making, market growth and expansion.. Major trends in the forecast period include automation and robotics, iot and connectivity, ai and predictive analytics, smart infrastructure and sensors, biometrics and security, energy efficiency and sustainability..
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Market Drivers and Trends:
The increasing use of airways transport among all modes of transportation is expected to propel the growth of the intelligent airways transportation market going forward. The increasing use of airways refers to more people choosing air travel as their preferred mode of transportation for both passenger and freight transportation purposes. Intelligent airways transportation provides improved safety, improved efficiency, enhanced customer experience, and saving costs. For instance, in April 2023, according to the International Air Transport Association, a Canada-based trade association of airlines across the globe, in February 2022, the total air traffic has risen 55.5% as compared to 2021. In addition, in 2022, international traffic and domestic traffic rose by 89.7% and 25.2% respectively as compared to 2021. Therefore, increasing the use of airways transport among all modes of transportation is driving the growth of the intelligent airways transport market.
Smart technologies are the key trends gaining popularity in the intelligent airways transportation market. Companies operating in the intelligent airways transportation market are adopting and investing in smart technologies to sustain their position in the market. For instance, in October 2022, Société International de Telecommunications Aéronautiques (SITA), a Switzerland-based information technology services provider company in partnership with Versa Networks launched ITA Connect Go technology. The technology is a multi-tenant edge secure software-defined wide area network (SD-WAN) solution specifically designed for the air transport industry. This technology is a multi-cloud technology that provides virtualized infrastructure and cloud access at airports to ground handlers, several airlines, and other tenants.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Amadeus IT Holding S.A.; Cisco Systems Inc.; Indra Sistemas S.A.; International Business Machines Corporation; Nippon Electric Company Limited; Siemens AG; Rockwell Collins Inc.; Société International de Télécommunications Aéronautiques; Unisys Corporation; Honeywell International Inc.; Zhongxing New Telecommunications Equipment Co. Ltd.; Microsoft Corporation; Oracle Corporation; Thales Group Inc.; Raytheon Technologies Corporation; Saab AB; L3Harris Technologies Inc.; Frequentis AG; ADB SAFEGATE; Northrop Grumman Corporation; Saipher ATC; Lockheed Martin Corporation; Airbus SE; Adacel Technologies Limited; SkySoft-ATM; Threod Systems; Intelcan Technosystems Inc.; Leonardo S.p.A.; ALTYS Technologies; Skygyuide
Intelligent Airways Transportation Market 2024 Key Insights:
• The intelligent airways transportation market will grow to $27.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
• Surging Air Travel Boosts Growth In The Intelligent Airways Transportation Market
• Smart Technologies Spearhead Advancements In The Intelligent Airways Transportation Market
• North America was the largest region in the intelligent airways transportation market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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