Global Information Inc. would like to present a new market research report,"The Global Market for Advanced Airport Technologies" by BCC Research.
Airport operators expect to spend hundreds of billions of dollars over next 20 years on new airport construction, modernization, and expansion.
Technological, security, regulatory, and economic trends are placing new demands on airports. There is an ongoing need for airport expansion and high-quality services as the sector undergoes rapid growth. The worldwide market for advanced airport technologies was approximately $8.2 billion in 2009. According to a new report from BCC Research, this market is expected to approach $10.3 billion in 2010 and "exceed $13.7 billion in 2015, a compound annual growth rate (CAGR) of 5.9% over the next 5 years.
How will the advanced airport technologies market perform by segment?
In 2009, the largest segment in this market was security, fire and emergency services, representing 22% of the total market share. However, this segment is predicted to experience a negative compound annual growth rate (CAGR) of -7.1% ultimately falling to $2 billion in 2015. Meanwhile, the communications segment is expected to post faster growth than the total market itself at a compound annual growth rate (CAGR) of 11.9% to reach $2.6 billion in 2015.
Regulatory developments frequently linked to technological developments
The Federal Aviation Administration (FAA) is an example of a regulatory authority that is working towards implementation of Global Positioning System (GPS)-based approach and landing control systems (i.e. LAAS, Local Area Augmentation System). Such developments will lead to some future requirement for some airports to install LAAS or a similar system. Similarly, new technological developments are forcing airports to introduce new technologies. For example, "the introduction of new super-jumbo aircraft such as the Airbus 380. The A380, which can carry up to 850 passengers in some configurations, will require many airports to upgrade their baggage-handling systems and other ground infrastructure."