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Smart Airport Market to Soar to USD 32.64 Billion by 2034, Driven by a Robust 13.3% CAGR
Smart Airport Market
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Market Explanation:
Smart airports utilize digital technologies and data-driven strategies to enhance efficiency, security, and the overall passenger experience, transforming airports into dynamic ecosystems that adapt to evolving needs. These airports leverage technologies like the Internet of Things (IoT), artificial intelligence (AI), data analytics, automation, and cloud computing to improve various aspects of airport operations. Smart airports aim to create a seamless and comfortable journey for passengers, from check-in to boarding, through features like self-service kiosks, biometric identification, and real-time information displays. These airports use data analytics to identify trends, predict passenger behavior, and optimize operations for better resource allocation and decision-making.
Market Drivers:
• The need for cost efficiency in daily operations has led airports to adopt smart technologies, consequently boosting market expansion.
• The increasing shift towards digital transformation and the surge in air passenger traffic is fueling the market growth.
• Improved traveler experience and the increasing use of digital technologies are propelling the demand for smart airports.
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Competitive Landscape :
The market for smart airports is intensely competitive, featuring major companies providing solutions to improve operational efficiency and the passenger experience. A few examples include:
• Amadeus IT Group
• Cisco Systems
• Collins Aerospace
• Honeywell International
• IBM Corporation
• Indra Sistemas
• Siemens AG
• SITA
• Vanderlande Industries
• Zebra Technologies
Smart Airport Industry Developments
April 2024: Honeywell introduced Surface Alert (SURF-A), an advanced software system designed to enhance pilot situational awareness by alerting them to potential runway conflicts. According to Honeywell, SURF-A aims to reduce the risk of runway incursions, thereby improving overall flight safety.
March 2024: Amadeus finalized the acquisition of Voxel, a leading provider of B2B payment and electronic invoicing solutions for hotels and travel sellers. Amadeus stated that this acquisition is expected to streamline payment processes and enhance the payment experience across the travel ecosystem.
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Segmental Overview:
• The smart airport market is segmented basically depending on infrastructure, components, solutions, applications, and region.
• By infrastructure, the passenger segment held the largest share of the market thanks to the rising demand for smooth, efficient, and tailored travel experiences.
By Component Outlook
• Hardware
• Software
• Services
By Infrastructure Outlook
• Communication Systems
• Air/Ground Traffic Control
• Security Systems
• Passenger
• Cargo & Baggage Ground Handling Control
• Endpoint Devices
• Others
By Solution Outlook
• Terminal Side
• Air Side
• Landside
By Application Outlook
• Aeronautical Operations
• Non-Aeronautical Operations
Regional Summary:
• Asia Pacific dominated the smart airport market in 2024 because of rapid urban growth, rising demand for air travel, and significant funding for airport upgrades.
• In 2024, North America captured a significant market share owing to the region's strong emphasis on technological advancements, substantial investments in airport infrastructure, and the existence of major industry leaders.
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