The Smart airports market size is projected to grow from USD 7.0 Billion in 2022 to USD 8.3 Billion by 2027, at a CAGR of 3.5% from 2022 to 2027. The growing need for real-time information and the increasing usage of self-service technologies are projected to fuel the growth of the smart airport industry. The market will be driven by the expansion of existing airports, the adoption of smart airport solutions at new airports, and an increase in the number of green initiatives by airports. Furthermore, airports are implementing self-service kiosks, biometric passenger identification, and artificial intelligence technologies to boost market development.
Upgrades & Services segment is expected to account for the largest share in 2022
Based on End Market, the Upgrades & Services are projected to lead the smart airports market during the forecast period.Airports are implementing digital transformation to differentiate their visitor experiences.
To enhance the passenger experience and operational effectiveness, existing systems and solutions are being modernized with cutting-edge technology and solutions. The need for enhanced upkeep and services to guarantee their ongoing operation is driving the market.
The Endpoint Devices is projected to dominate the market share in the System segment during the forecast period
Based on System, the Endpoint Devices segment is projected to dominate the market share during the forecast period.The market is further segmented into Communication & Connectivity, Endpoint Devices, Data Storage, and Software & Solution.
To speed up the screening process, airports use trustworthy endpoint devices like as biometrics, RFID, beacons, and so on.End point devices have enhanced airport operations and consumer satisfaction.
Furthermore, developments in endpoint devices have increased security standards and streamlined the airport screening procedure.
The Airside is projected to dominate market share in the application segment during the forecast period
Based on application, the smart airports segment is projected to dominate the market share during the forecast period.Rapid growth in global passenger traffic is expected to increase demand for smart solutions on the airside.
Additionally, the market has been driven by the growing requirement for smart solutions for airside operations, such as sophisticated aircraft parking solutions and cutting-edge maintenance and health monitoring systems.
The Airport 3.0 segment is projected to lead smart airports market during the forecast period
Based on airport technology, the airport 3.0 segment is projected to lead the smart airport market during the forecast period. The industry is expanding rapidly due to increased air traffic passengers worldwide. Furthermore, airport modernization plans are likely to drive the worldwide smart airport 3.0 market growth.
Non-Aeronautical Segment is projected to account for the largest share in 2022
Based on Operation, the non-aeronautical segment is projected to lead the smart airports market during the forecast period.The expansion in air passenger travel will propel the aviation sector, which will boost the market for smart airport accordingly.
In addition to intelligent transportation services and inventory management, airports are concentrating on specific digital advertising to meet customer preferences and boost the growth of the non-aeronautical sector.
Asia Pacific is expected to account for the largest market share in 2022
The smart airports market industry has been studied in North America, Europe, Asia Pacific, and Rest of the World.Asia Pacific accounted for the largest market share in 2022, and North America is projected to witness the highest CAGR during the forecast period.
The Asia Pacific market is likely to develop rapidly over the forecast period, owing to considerable increases in air traffic in countries such as China, Singapore, and India. As the number of passengers increases, so will the demand for automation of procedures such as luggage handling and self-check-in services.
The break-up of the profile of primary participants in the smart airports market:
• By Company Type: Tier 1 – 55%, Tier 2 – 25%, and Tier 3 – 20%
• By Designation: C Level – 50%, Director Level – 25%, Others-25%
• By Region: North America – 45%, Europe – 25%, Asia Pacific – 20%, Middle East – 5%, and Latin America – 5%
Prominent companies include SITA (Switzerland), THALES (France), Siemens AG (Germany), Amadeus IT Group SA (Spain), IBM Corporation (US), Cisco Systems Inc. (US), Indra Sistemas S.A. (Spain), Honeywell International Inc. (US), L3Harris Technologies Inc (US).
The report segments the Smart airports market based on System, Application, Airport Size, End Market, Airport Technology, Operation and Region.Based on System, the market is segmented into Communication & Connectivity, Endpoint devices, Data Storage, Software & Solution.
Based on application, the market is segmented into landside, terminal side, and air side.Based on airport size, the smart airport market is segmented into large, medium, and small.
Based on end market, the market is segmented into implementation, upgrades & services. Based on airport technology, the market is segmented into airport 2.0, airport 3.0, airport 4.0. Based on application, the market is segmented into aeronautical and non-aeronautical. The smart airport market has been studied for North America, Europe, Asia Pacific, and Rest of the World. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the smart airports market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements. new product & service launches, mergers and acquisitions, and recent developments associated with the smart airports market. Competitive analysis of upcoming startups in the smart airports market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall smart airports market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on smart airports offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the smart airports market
• Market Development: Comprehensive information about lucrative markets – the report analyses the smart airports market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the smart airports market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players in the smart airports market