Smart Airport Market Revenue, Opportunity, Segment and Key Trends 2023


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Market Highlights:

The global smart airport market has been segmented based on technology, application, terminal type, airside, landside, and region. The technology market is classified into communication systems, passenger, end devices, cargo and baggage handling, air traffic management systems, security systems, and others. The security system segment is anticipated to dominate the market, in terms of investment, throughout the forecast period. The security systems segment is probably going to be driven by rising demand for bio-metric devices by airports for the identification and checking process. The smart airport market is predicted to expand due to high demand for terminal-side, and land-side services. The terminal type market is anticipated to be driven by rising demand for digital video surveillance and management solutions by airports to boost the safety and productivity of the workplace. Moreover, the increase in penetration of smartphones and tablets is playing a significant role in dynamic of smart airports. Effective customer service and reduction in cost are the two main edges provided by the presence of mobile check-in facilities.

Demand for automated and self-service kiosks has increased. In addition, the increasing number of passengers at airports would lead to effective managing of airport operations. This is, in turn, driving the need for upgraded solutions that may ease and allow automation of the processes at airports. A majority of airports are currently specializing in self-service solutions and adopting new technologies, such as artificial intelligence kiosk, face recognition, automated passport management, and others, to manage airport operations effectively. Companies are introducing advanced technology solutions and systems within the market and are investing heavily in digital technologies and IT to supply value added services to customers. Rising demand for various technologically advanced communication systems, non-aeronautical systems, and security systems is anticipated to drive the market growth throughout the forecast period.

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Major Key Players

Honeywell Corporation Inc (U.S.),

Rockwell Collins, Inc. (U.S.),

IBM Corporation (U.S.),

Cisco Systems Inc. (U.S.),

Raytheon (U.S.),

Kiewit (U.S.),

SITA (Switzerland),

Siemens AG (Germany),

Larsen & Toubro (India), and Amadeus IT Group SA (Spain).

The smart airport market is estimated to grow at a CAGR of more than 12% during the forecast period of 2017-2023. This estimation of a CAGR is due to the rise in usage of digital technologies worldwide, aircraft companies are more focusing towards the digital transformation to enhance personal experience of the passengers.

At present, airports are accumulating traveler data to provide various added advantage to passengers, such as data regarding the nearest retail locations, live updates on flight status, traffic and parking updates, guidance for arrival and baggage drop, directions for immigration check, and live updates on bus and taxi transportation services.

The various application varieties analyzed, within the report, embrace aeronautical and non-aeronautical operations. The non-aeronautical segment is expected to witness important growth throughout the forecast period. Services such as retail outlets, advertising, smart parking, Wi-Fi, restaurants, lounge access, and personalized services are driving the growth in non-aeronautical applications.

Airports, worldwide, have started diversifying their financial gain and are spending huge amount to implement non-aeronautical operations, such as providing parking facilities, lounges, conference rooms, and boarding and lodging facilities. Airports are currently focusing their efforts on traveler satisfaction and have started providing various facilities, such as providing personalized data relating to retail showrooms and related offers, by analyzing the precise habits and wishes of previous visited passengers, so as to make customized user expertise for the new passengers.

The segment, terminal side is predicted to emerge as the largest section during the forecast period. Terminal side updated information is provide to the traveler on their smartphones so as to know the landing field kiosks. It also involves devices that provide location services and alerts for guiding traveler to their terminals and gates with personalized retail and hospitality offerings.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.