The Smart Airports Market Size was valued at USD 7.2 billion in 2022 and is expected to reach USD 9.34 billion by 2030 with a growing CAGR of 3.32% over the forecast period 2023-2030.
During the forecast period, the smart airport market is expected to grow at a significant CAGR. The fundamental purpose of developing the smart airport is to construct digitally equipped and organized systems and processes for process efficiency and connectivity. Various advanced technologies, such as the development of artificial intelligence technology and client identification via a unique heartbeat pattern with the assistance of biometric signatures, are being implemented across airports to aid in the management of massive airport databases.
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The creation and commercialization of advanced intelligent technologies create a digital ecosystem that includes flight booking management, baggage and document checkers, and machine-driven arrivals.
The global aviation industry stands to benefit greatly from the deployment of smart airport technologies. AI technologies such as machine learning, computer vision, and natural language processing have the potential to transform industries such as customer service, resource management, and airport security. Airbus S.A.S. and Boeing have both announced AI-based product launches and research initiatives in recent years. Furthermore, these companies have made significant investments in AI startup firms through their venture arms in order to develop cutting-edge AI-driven solutions.
MARKET DYNAMICS
KEY DRIVERS
Increased demand for real-time data decreases the strain on airport infrastructure and personnel, which is projected to propel market expansion.
Construction of new airports
RESTRAINTS
One of the major factors limiting market growth is a lack of skilled labour.
Management of AI and automated systems can be difficult at times and necessitates exceptional software engineering skills as well as significant experience addressing distributed and concurrent programming or debugging communication protocols.
OPPORTUNITIES
The smart wheelchair system is a wheelchair that is guided by vision-based technology.
Roboto, a prototype robotic chef who prepares Laksa for passengers, and advanced innovative smart robots for increasing workforce productivity.
CHALLENGES
Development of environmentally friendly solutions for increasing baggage management, passenger traffic management, and providing cost-effective passenger services
Frequent failures in the smart system and their repair necessitate a large amount of resources, time, money, and professionals, stifling market growth.
THE IMPACT OF COVID-19
The Covid-19 epidemic has had a profound effect on various sectors around the world. But the smart airport market is well influenced by its new technology. Investments in the integration of technological innovations such as tactile solutions, self-help cookies, and biometric key chains are increasing over the years. Because of the closure and the risk of transmitting the corona virus, people are getting off at airports, and it is easy to install and use new technologies at airports.
After the completion of the closure and reduction of corona cases, passengers resumed their flights to the airport during a major update that required the implementation of advanced technologies such as electricity, control systems, IT, robots, etc. at smart airports to be managed in a sustainable manner. costs. In addition, the growing demand for passenger information at airports encourages the growth of smart airports in the coming years. Customer performance may be enhanced by new technologies such as smart mirrors that help blind people and a biometric passenger identification system. COVID-19, therefore, provides key players with the opportunity to develop new technologies and boost the growth of an intelligent airport market.
The global smart airport market is divided into two types based on application: aeronautical operations and non-aeronautical operations. The non-aeronautical segment is expected to grow significantly because services such as advertising, smart parking, retail outlets, Wi-Fi, and so on are propelling the market's growth.
The airport industry is one of the world's most competitive and prominent industries. It generates significant income as well as employment. There are three types of airport locations: air-side, land-side, and terminal-side. the air-side application segment accounted for 62.7% of the global smart airports market. This application segment includes, among other things, air traffic management and aircraft turnaround management. The use of smart applications for air-side operations has grown in recent years. Airports have the potential to significantly reduce passenger wait times and address some of the most frequently encountered issues, such as lost bags, flight delays, and customer service issues, by effectively utilizing IoT, AI, and big data.
The industry is dynamic and is expected to grow significantly in the near future. Companies in the market are introducing new innovative products and technologies to keep up with airport modernization and effectively address the growing demand for real-time information. To increase their revenue share, key industry players are pursuing merger and acquisition strategies as well as forming alliances with other players across the value chain.
Companies all over the world are focusing on technological innovation to generate new revenue streams by transitioning to digital platforms and smart technologies that enable self-service processes. The key players account for a sizable market share.
By Type
Airport 2.0
Airport 3.0
Airport 4.0
By Application
Aeronautical Operations
Non-aeronautical Operations
By System
Communication & Network Systems
Endpoint Devices
Software & Solutions
By End User
Implementation
Upgrades & Services
By Location
Land-side
Air-side
Terminal Side
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REGIONAL ANALYSIS
During the forecast period, North America is expected to be the largest market for smart airports. North America's smart airports market is led by the United States. The need to optimize airport operations is driving investments in smart applications. The use of IoT, AI, and AV VR has the potential to improve airport operations and increase transparency. North America has the most airports in the world, which drives the demand for IoT technology integration. The presence of major smart solution providers such as Collins Aerospace, IBM Corporation, and Honeywell International Inc, in addition to its various airports, is expected to drive the market in this region.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Key Players are Cisco Systems Inc., Raytheon Technologies Corporation, SITA, Thales Group, Ascent Technology, Inc., Indra Sistemas, S.A., L3Harris Technologies Inc., Huawei Investment & Holding Co., Ltd., International Business Machine Corporation, Honeywell International Inc & Other Players
Ascent Technology, Inc-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 7.2 Billion |
| Market Size by 2030 | US$ 9.34 Billion |
| CAGR | CAGR of 3.32% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Airport 2.0, Airport 3.0, Airport 4.0) • By Application (Aeronautical Operations and Non-aeronautical Operations) • By System (Communication & Network Systems, Endpoint Devices, Data Storage, and Software & Solutions) • By End User (Implementation and Upgrades & Services) • By Location (Land-side, Air-side, and Terminal Side) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Cisco Systems Inc., Raytheon Technologies Corporation, SITA, Thales Group, Ascent Technology, Inc., Indra Sistemas, S.A., L3Harris Technologies Inc., Huawei Investment & Holding Co., Ltd., International Business Machine Corporation, Honeywell International Inc |
| DRIVERS | • Increased demand for real-time data decreases the strain on airport infrastructure and personnel, which is projected to propel market expansion. • Construction of new airports |
| RESTRAINTS | • One of the major factors limiting market growth is a lack of skilled labour. • Management of AI and automated systems can be difficult at times and necessitates exceptional software engineering skills as well as significant experience addressing distributed and concurrent programming or debugging communication protocols. |
Ans: The Smart Airports Market size was valued at US$ 7.2 billion in 2022.
Ans: The Smart Airports Market is to grow at a CAGR of 3.32% over the forecast period 2023-2030.
Yes, this report covers top-down, bottom-up Quantitative Research.
Qualitative Research, Fundamental Research, data triangulation, IDs & FGD’s
Analytical research, And others as per report requirement.
According to SNS insiders, the global market size was USD 3.16 billion in 2021 and is expected to reach USD 11.26 billion by 2028.
The non-aeronautical segment is expected to grow significantly
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Smart Airports Market Segmentation, By Type
8.1 Airport 2.0
8.2 Airport 3.0
8.3 Airport 4.0
9. Smart Airports Market Segmentation, By Application
9.1 Aeronautical Operations
9.2 Non-aeronautical Operations
10. Smart Airports Market Segmentation, By System
10.1 Communication & Network Systems
10.2 Endpoint Devices
10.3 Data Storage
10.4 Software & Solutions
11. Smart Airports Market Segmentation, By End User
11.1 Implementation
11.2 Upgrades & Services
12. Smart Airports Market Segmentation, By Location
12.1 Land-side
12.2 Air-side
12.3 Terminal Side
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14. Company Profiles
14.1 Honeywell International Inc.
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Cisco Systems Inc.
14.3 Raytheon Technologies Corporation
14.4 SITA
14.5 Thales Group
14.6 Ascent Technology, Inc.
14.7 Indra Sistemas, S.A.
14.8 L3Harris Technologies Inc.
14.9 Huawei Investment & Holding Co., Ltd.
14.10 International Business Machine Corporation
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
16. Conclusion
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