Press release
Smart Airport Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
The smart airport market is anticipated to grow due to the increasing investments put towards airport infrastructures. These investments are driven by an increasing need to handle more passengers and cargo traffic, boost operational efficiency, and adhere to modern safety and environmental regulations. Technological advancements, governmental strategies, and the emergence of smart airport initiatives are additional catalysts pushing for infrastructure advancement to enhance the overall passenger experience. For example, a March 2023 report by Airports Council International, a Canada-based airport authority body aiming to consolidate industry practices for airport standards, projected a requirement of $151 billion for airport infrastructure over the period of 2023-2027. This marks an increase of 30.9 percent compared to the estimates from 2019 to 2023. As such, the smart airport market is set to thrive due to the escalating investments aimed at airport infrastructures.
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What is the projected compound annual growth rate (CAGR) of the smart airport market from 2025 to 2034, and what factors influence it?
The scale of the smart airport market has experienced swift expansion over the past few years. The market is projected to surge from the size of $8.47 billion in 2024, heightening to $9.53 billion in 2025, with a compound annual growth rate (CAGR) of 12.6%. This growth during the aforementioned period can be credited to factors such as bettered passenger experience, reduced airline costs, effectual airport operations, environmental sustainability, not to mention the advent of remote and self-service check-in.
The projected expansion of the smart airport market should be swift and significant in the coming years, with its value estimated to reach $16 billion by 2029, representing a compound annual growth rate (CAGR) of 13.8%. The anticipated growth during this timeframe can be attributed to factors such as smart parking and transportation solutions, the use of predictive analytics for resource management, smart retail and commercial spaces, and improvements in security measures. Notable trends during the forecast period are projected to include biometric boarding for passengers, the adoption of contactless technology, the use of blockchain for security and data integrity purposes, the implementation of artificial intelligence in airport operations, the introduction of robotic process automation, and the application of 5G connectivity for improved communication.
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How are the latest trends influencing the growth of the smart airport market?
Innovations in technology, including the application of the Internet of Things (IoT) in aircraft parts manufacturing, emerges as a significant trend in the smart airport market. Globally, firms have begun to utilize cloud-based platforms for the creation of new aircraft, engine systems, or component designs. This platform encourages a simpler design process by congregating suppliers, systems integrators, software developers, and other stakeholders from the design and manufacturing ecosystem on a shared virtual platform. For example, in October 2022, SpaceX, a renowned aviation and technology firm in America, inaugurated a brand new service, Starlink Terminals. This service aims to provide its satellite internet network on airplanes, offering internet speeds up to 350 megabits per second (Mbps) per plane in-flight anywhere worldwide. However, to install a Starlink terminal on an aircraft, the plane's owner or operator must secure a supplemental type certificate from the FAA, permitting modifications to the plane's original design.
What are the major segments of the smart airport market and their role in driving growth?
The smart airport market covered in this report is segmented -
1) By Services: Smart Transport And Parking Services, Smart Retail, Hospitality And Entertainment Services, Smart Workplace Services, Smart Airport Processes, Smart Business To Business Services
2) By Infrastructure: Endpoint Devices, Communication Systems, Passenger, Cargo and Baggage Ground Handling Control, Air/Ground Traffic Control, Security Systems, Other Infrastructures
3) By Location: Landside, Airside, Terminal Side
4) By Application: Core Applications, Business Applications
5) By End User: Implementation, Upgrades And Services
Subsegments:
1) By Smart Transport And Parking Services: Intelligent Transportation Systems (ITS), Smart Parking Solutions, Airport Shuttle Services
2) By Smart Retail, Hospitality And Entertainment Services: Mobile Retail Applications, Digital Signage And Advertising, Airport Lounges And Dining Options
3) By Smart Workplace Services: Employee Management Systems, Collaboration And Communication Tools, Security And Access Control Systems
4) By Smart Airport Processes: Automated Check-In Solutions, Baggage Tracking Systems, Security Screening Automation
5) By Smart Business To Business Services: Data Analytics Services, Operational Integration Solutions, Supply Chain Management Services
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Which regions are key players in the growth of the smart airport market?
North America was the largest region in the smart airport market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart airport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the smart airport market?
Major companies operating in the smart airport market include Amadeus IT Group SA, CISCO System Inc., Collins Aerospace, Daifuku Co. Ltd., Ascent Technologies Inc., Honeywell International Inc., Huawei Technologies Co. Ltd., International Business Machines Corporation, Indra Sistemas S. A., ITALIA TRASPORTO AEREO S. P. A., L3Harris Technologies Inc., Raytheon Technologies Corporation, RESA, Lufthansa Systems GmbH & Co. KG., Sabre Corporation, Siemens AG, Société Internationale de Télécommunications Aéronautiques, Thales Group, T-Systems International GmbH, Vision-Box Inc., Wipro Limited, Zensors. Inc., ADELTE - The Boarding Company, Ansul, Deerns Airport System Consultants, FB TECHNOLOGY, Gentrack Group Limited, Beumer Group GmbH & Co. KG, Bosch security systems GmbH, Schneider Electric SE
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What Is Covered In The Smart Airport Global Market Report?
•Market Size Forecast: Examine the smart airport market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart airport market for a structured understanding.
•Key Players Overview: Analyze major players in the smart airport market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart airport market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart airport market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart airport market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart airport market.
•Competitive Landscape: Review strategic developments in the smart airport market, including expansions, agreements, and new product launches.
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