PUBLISHER: The Business Research Company | PRODUCT CODE: 1392899
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392899
“Smart Airport Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart airport market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart airport? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The smart airport market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Smart airports leverage connected technologies such as intelligent building management, cybersecurity, GPS and sensors, the Internet of Things (IoT), blockchain, and Artificial Intelligence (AI) to empower operational staff in digitally managing planning and operational tasks. Simultaneously, these technologies optimize passenger flows and streamline staff activities throughout the airport.
The primary categories of smart airport services encompass smart transport and parking services, smart retail, hospitality and entertainment services, smart workplace services, and smart airport processes, including business-to-business services. In terms of infrastructure, smart airport products include endpoint devices, communication systems, control for passenger, cargo, and baggage ground handling, air/ground traffic control, security systems, and other related elements. Smart airport products and services find application in landside, airside, and terminal-side locations, serving core and business applications. The major end-users of smart airports include industries involved in implementation, upgrades, and services.
The smart airport market research report is one of a series of new reports from The Business Research Company that provides smart airport market statistics, including smart airport industry global market size, regional shares, competitors with a smart airport market share, detailed smart airport market segments, market trends and opportunities, and any further data you may need to thrive in the smart airport industry. This smart airport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart airport market size has grown rapidly in recent years. It will grow from $7. 61 billion in 2023 to $8. 66 billion in 2024 at a compound annual growth rate (CAGR) of 13. 7%. The expansion observed in the historical period can be attributed to improvements in passenger experience, cost reduction for airlines, a focus on environmental sustainability, efficient airport operations, and the implementation of remote and self-service check-in options.
The smart airport market size is expected to see rapid growth in the next few years. It will grow to $14. 02 billion in 2028 at a compound annual growth rate (CAGR) of 12. 8%. The anticipated growth in the forecast period can be attributed to the implementation of smart parking and transportation solutions, the use of predictive analytics for resource management, the development of smart retail and commercial spaces, and the enhancement of security measures. Noteworthy trends expected in the forecast period encompass biometric passenger boarding, the adoption of contactless technology, the utilization of blockchain for security and data integrity, the integration of artificial intelligence in airport operations, the implementation of robotic process automation, and the adoption of 5G connectivity for enhanced communication.
Aviation companies worldwide are prioritizing green initiatives to safeguard the environment, with many striving for increased sustainability. According to the International Council on Clean Transportation (ICCT), air travel contributes approximately 3% of global carbon dioxide emissions, making it one of the fastest-growing sources of greenhouse gases. To address this, aviation market players are actively pursuing green initiatives. For instance, in October 2021, All Nippon Airways (ANA), a Japan-based aviation company, launched the SAF Flight Initiative. This initiative builds on ANA's prior efforts and aims to collaborate with key partners across industries to reduce emissions within value chains, expanding the manufacture and use of Sustainable Aviation Fuel (SAF). ANA is committed to meeting the standards outlined in the GHG Protocol, which necessitates corporations to eliminate all emissions, including those indirectly generated by activities beyond their primary business.
The substantial increase in aircraft passenger traffic is a significant driver for the growth of the smart airport market. The term 'increasing aircraft passenger traffic' refers to the rising number of individuals traveling on airplanes. The surge in global passenger traffic and air travel demand is compelling airports to adopt smart solutions for enhanced efficiency and passenger experiences. For instance, according to data from the Airports Council International (ACI), global passenger traffic in aviation is anticipated to reach 9. 4 billion passengers in 2024, up from 8. 6 billion passengers in 2023. Consequently, the upward trend in aircraft passenger traffic is expected to propel the smart airport market.
Technological advancements, such as the integration of the Internet of Things (IoT) in aircraft parts and manufacturing processes, represent a key trend in the smart airport market. Companies globally are implementing cloud-based platforms to facilitate collaboration among suppliers, systems integrators, software developers, and other stakeholders involved in the design and manufacturing ecosystem. For instance, in October 2022, SpaceX, a US-based aviation and technology company, launched Starlink Terminals, providing satellite internet on planes with speeds up to 350 megabits per second (Mbps) worldwide. Major companies in the smart airport market are also incorporating augmented reality (AR) and virtual reality (VR) solutions to enhance customer experiences and wayfinding. AR integrates digital information with the user's environment in real time, while VR uses computer modeling and simulation to create interactive 3D visual or sensory environments. For example, iGA Istanbul Airport, a Turkey-based international travel hub, introduced an AR-based service to guide customers around the International Terminal shopping area, offering information on retail stores and special offers.
In December 2021, ADB SAFEGATE acquired DBT Transportation Services LLC, a company specialized in weather systems, sensor technologies, and services primarily for the aviation industry. ADB SAFEGATE is dedicated to delivering airport performance, particularly in airport ground movement and visual guidance, showcasing unmatched capabilities in these areas.
Major companies operating in the in the smart airport market report are Amadeus IT Group SA, CISCO System Inc., Collins Aerospace, Daifuku Co. Ltd., Ascent Technologies Inc., Honeywell International Inc., Huawei Technologies Co. Ltd., International Business Machines Corporation, Indra Sistemas S. A., ITALIA TRASPORTO AEREO S. P. A., L3Harris Technologies Inc., Raytheon Technologies Corporation, RESA, Lufthansa Systems GmbH & Co. KG., Sabre Corporation, Siemens AG, Societe Internationale de Telecommunications Aeronautiques, Thales Group, T-Systems International GmbH, Vision-Box Inc., Wipro Limited, Zensors. Inc., ADELTE - The Boarding Company, Ansul, Deerns Airport System Consultants, FB TECHNOLOGY, Gentrack Group Limited, Beumer Group GmbH & Co. KG, Bosch security systems GmbH, Schneider Electric SE
North America was the largest region in the smart airport market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart airport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the smart airport market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The smart airport market includes revenues earned by entities by providing products and related services that automate the processes for operational efficiency, ground services, digitalization of infrastructure, digitalization of commercial & passenger flow, enhancing security & surveillance, and handling services to solve and cover control and management needs in airports. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.