Smart Airport Market
Smart Airport Market Size was valued at USD 37.9 billion in 2022. The Smart Airport market is projected to grow from USD 42.9028 Billion in 2023 to USD 90.28 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.20% during the forecast period (2023 - 2030).
The global Smart Airport Market has been segmented based on technology, application, terminal type, airside, landside, and region. The technology market is classified into communication systems, passenger, end devices, cargo and baggage handling, air traffic management systems, security systems, and others. The security system segment is anticipated to dominate the market, in terms of investment, throughout the forecast period. The security systems segment is probably going to be driven by rising demand for bio-metric devices by airports for the identification and checking process. The Smart Airport Market is predicted to expand due to high demand for terminal-side, and land-side services.
Demand for automated and self-service kiosks has increased. In addition, the increasing number of passengers at airports would lead to effective managing of airport operations. This is, in turn, driving the need for upgraded solutions that may ease and allow automation of the processes at airports. A majority of airports are currently specializing in self-service solutions and adopting new technologies, such as artificial intelligence kiosk, face recognition, automated passport management, and others, to manage airport operations effectively. Companies are introducing advanced technology solutions and systems within the market and are investing heavily in digital technologies and IT to supply value added services to customers. Rising demand for various technologically advanced communication systems, non-aeronautical systems, and security systems is anticipated to drive the Smart Airport Market throughout the forecast period.
The terminal type market is anticipated to be driven by rising demand for digital video surveillance and management solutions by airports to boost the safety and productivity of the workplace. Moreover, the increase in penetration of smartphones and tablets is playing a significant role in dynamic of smart airports. Effective customer service and reduction in cost are the two main edges provided by the presence of mobile check-in facilities.
Key Players
The key players in Smart Airport Market are Cisco Systems Inc. (U.S.), Honeywell Corporation Inc. (U.S.), Rockwell Collins, Inc. (U.S.), Siemens AG (Germany), SITA (Switzerland), Raytheon (U.S.), Kiewit (U.S.), IBM Corporation (U.S.), Larsen & Toubro (India), and Amadeus IT Group SA (Spain).
Market Segmentation
This study provides an overview of the global Smart Airport Market, tracking five market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC), Middle East and Africa, and South America . The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Smart Airport Market by its technology, application, terminal type, airside, landside and region.
By Technology
- Security Systems
- Communication Systems
- Cargo & Baggage Handling Control
- Air/Ground Traffic Control
- Passenger
- Endpoint Devices
- Other technologies
By Application
- Aeronautical Operations
- Non-aeronautical Operations
- By Terminal Type
- Baggage Handling
- Check-in Systems
- Building Operations
- Sustainable Energy Management
By Airside
- ATM
- Resource Management
- Aircraft Parking
- Aircraft Maintenance
- Others
By Landside
- Vehicular Parking
- Security and Intelligent advertising
By Regions
- America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
Regional Analysis:
The smart airport market industry analysis based on region is divided into Asia-pacific, Europe, North America, Middle East & Africa, and Latin America. Among these regions, North America is said to be in the leading position in the global market owing to its large number of smart airports and increasing airport modernization program in the US and Canada. Along with the presence of huge smart airports, there is the presence of major smart solution providers like Collins Aerospace, Honeywell International Inc., and IBM Corporation is propelling the growth of the market in this region. Based on the US, most of the companies operate in the smart airport market. To optimize the operations at airports, a huge number of investments are needed in smart applications. The technologies implemented like IoT, AI, and AV VR are having the capacity to optimize airport operations and can bring transparency.
In the recent years, the European Union witnessed a rise in the number of air passengers. It is expected that the air passenger volume is going to expand in the coming years. This increase in air traveler volume in the Europe region is one of the key drivers for smart airport construction. In addition, the European countries are well-liked tourist destinations and are widely preferred by tourists around the world. Similarly, developments in the Middle East are increasing at a steady pace, catered by strong developments of the tourism sector, and as a result, the demand for smart airports will increase in this region throughout the forecast period.
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