PUBLISHER: Orion Market Research | PRODUCT CODE: 1215746
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215746
Title:Global Airport Information Systems Market Size, Share & Trends Analysis Report by Application (Maintenance, Ground handling, Finance and Operations, Security, and Passenger Information), by Software (Passenger Systems, and Non-Passenger Systems), and by Type (Airside, and Terminal Side) Forecast Period (2022-2028).
The global airport information systems market is anticipated to grow at a substantial CAGR of 3.3% during the forecast period. One of the core factors that is driving the market is the large spending on the Information Technology (IT) infrastructure in the airports which shows the demand for new Information Systems. For instance, as per the Airports Council International (ACI), airports have significantly enhanced information technology spending. As of 2018, Airport IT spending was the highest at $10 Billion, which was reduced to $8.8 billion in 2019, and further with a steep fall to $4.1 billion by 2020 owing to the COVID-19 pandemic. However, with the rising need for smart systems and the result of COVID-19, the expenditure grew back up to $5.1 billion by 2021 and is anticipated to increase significantly, leading to numerous opportunities for the information systems market in the upcoming years.
The global airport information systems market is segmented based on application, software, and type. Based on the application, the market is segmented into maintenance, ground handling, finance and operations, security, and passenger information. Based on the software, the market is sub-segmented into passenger systems and non-passenger systems. Based on the type, the market is sub-segmented into the airside, and terminal side. Based on application, the security segment is anticipated to grow significantly in the market during the forecast period owing to the increasing crime rate across the globe. This has increased the demand for information systems for the safety and security of passengers. For instance, in November 2021, Viisights, a creator of innovative behavioral recognition systems for real-time video intelligence, had been nominated for airport cargo security evaluation by Raytheon Security (RTX), the global defense contractor. The Transportation Security Administration (TSA) assigned Raytheon Technologies for selecting and evaluating next-generation security solutions for airports.
Geographically, the global airport information systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is anticipated to hold a prominent share in the market during the forecast period owing to the presence of the highest aircraft fleet with a great number of airlines across the US. A huge number of airports and high expenditure from airlines for the up-gradation of airports drive the growth of the market in the region. Moreover, the presence of key system integrators such as IBM, Collins Aerospace, and others is also contributing via actively participating in the market. For instance, in March 2021, OSI Systems, Inc. informed that its Security division awarded an order for nearly $16 million for providing maintenance and support for the US aviation checkpoint inspection systems.
The major companies serving the global airport information systems market include Amadeus IT Group, S.A., Honeywell International Inc., Raytheon Technologies Corp., SITA, THALES Group, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2021, Airport Information Systems (AIS) finished advancing of City of Derry Airport's Airport Management System to the newest version of Flight Information Display System (FIDSnet), providing the City of Derry Airport a solution, cost-effective, by using Android Smart and Boxes for controlling Display.
Research Methodology
The market study of the global airport information systems market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: