Press release
What Is The Leading Driver Behind Rising Investments in Airport Infrastructure to Drive Growth in the Smart Airport Market Market Expansion in 2025
Smart Airport
What Will the Smart Airport Industry Market Size Be by 2025?
The size of the smart airport market has dramatically expanded in the past few years. Its anticipated increase is from $8.47 billion in 2024 to $9.48 billion in 2025, marking a compound annual growth rate (CAGR) of 11.9%. Factors contributing to this historic period growth include improved passenger experience, reduction in airline costs, environmental sustainability, streamlined airport operations, and advances in remote and self-service check-in.
What's the Long-Term Growth Forecast for the Smart Airport Market Size Through 2029?
In the coming years, the smart airport market is projected to witness a substantial expansion. The size of the market is forecasted to reach $15.7 billion in 2029, growing at a compound annual growth rate (CAGR) of 13.4%. This expected growth during the projected period is linked to advancements in smart parking and transport solutions, resource management through predictive analytics, the development of smart retail and commercial spaces, and improved security measures. The period is anticipated to see major trends like the implementation of biometric passenger boarding systems, the adoption of contactless technologies, the use of blockchain for enhancing security and data integrity, the use of artificial intelligence in airport operations, the automation of processes through robotics, and the employment of 5G connectivity for better communication.
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What Are the Key Growth Drivers Fueling the Smart Airport Market Expansion?
The expansion of the smart airport market is anticipated due to increasing investment in airport infrastructure. This investment is motivated by the demand to manage rising passenger and freight traffic, boost operational productivity, and conform to current safety and environmental norms. Moreover, technological progress, governmental regulations, and the emergence of smart airport schemes further encourage infrastructure improvements to enrich the overall passenger journey. For example, a report by Airports Council International, a Canada-based collective of airport authorities aiming to standardize industry practices, suggested in March 2023 that the anticipated requirement for airport infrastructure from 2023-2027 is about $151 billion. This prediction reflects an increase of 30.9 percent compared to the 2019-2023 forecasts. Therefore, the increase in airport infrastructure investments is expected to boost the smart airport market.
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What Are the Key Trends Driving Smart Airport Market Growth?
Advancements in technology such as the application of the Internet of Things (IoT) in aircraft component production and processing protocols constitute a significant trend in the smart airport market. Internationally, businesses have begun to deploy cloud-based platforms for the creation of new planes, engines, systems, or component designs. The cloud platform facilitates the design process simplification by connecting suppliers, system integrators, software developers, and other stakeholders in a virtual platform within the design and manufacturing environment. For example, SpaceX, an aviation and tech company based in the US launched a new service called Starlink Terminals in October 2022. This service proposes to avail its satellite internet network on airplanes, delivering internet speeds of up to 350 Mbps per aircraft irrespective of location globally. Prior to installing a Starlink terminal on an aircraft, the FAA must issue a supplemental type certificate to the aircraft's owner or operator authorizing the plane's modification from its initial design.
How Is the Smart Airport Market Segmented?
The smart airportmarket 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 Companies Are Leading the Charge in Smart Airport Market Innovation?
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
Which Regions Are Leading the Global Smart Airport Market in Revenue?
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
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