Smart Airport Market Size 2019: Global Industry Growth, Key Players, Trends, Applications, Opportunity Assessment and Forecast to 2023

Smart Airport Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Technology (Security Systems, Communication Systems, Cargo & Baggage Handling Control, and Other technologies), Application, Terminal type, Airside, Landside, and by Region- Forecast to 2023

pune, India - July 9, 2019 /MarketersMedia/ —

The global smart airport market is anticipated to expand at a CAGR of 12% during the forecast period (2017-2023), Market Research Future (MRFR) unveils in a detailed report. The world is witnessing the development of smart airports besides smart cities and smart buildings. Efficient management of industrial processes like handling luggage daily is performed at smart airports. Building a smart airport creates processes and systems that are arranged and digitally equipped in terms of proves and connectivity efficiency.

The top players operating in the global smart airport market include Rockwell Collins, Inc. (U.S.), Honeywell Corporation Inc (U.S.), Siemens AG (Germany), SITA (Switzerland), Cisco Systems Inc. (U.S.), IBM Corporation (U.S.), Kiewit (U.S.), Raytheon (U.S.), Amadeus IT Group SA (Spain), and Larsen & Toubro (India).

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Industry Updates

May 2019: Hamad International Airport has recently revealed the second phase of its innovative Smart Airport program. Facial biometric recognition will be implemented across passenger touchpoints. The system is presently under trial and is a prime piece of the airport’s digital strategy. It combines passport, passenger’s flight, and facial biometric information in a single electronic record through the mobile app or at the self-service check-in kiosk.

Market Potential and Pitfalls

The global smart airport has witnessed a tectonic surge over the past few years, the growth in innovative technologies that have enhanced user experience. The surging demand for real-time data is likely to trigger the demand from the Smart Airport Market. Development in commercial aviation, the establishment of new airports, and growth in green initiatives are considered to contribute to the market growth. Several devices implemented with innovative options, like identification of client with the help of heartbeat pattern with the assistance of biometric signatures, and the preparation of AI technology are supporting the management of airport databases. Smart robots implemented across airports are likely to increase the productivity of the workforce. One of the latest technologies includes smart wheelchair system, wheelchairs guided by vision-based technology. This technology will be implemented at the Singapore Changi airport in the coming years. Technologies like Roboto, a prototype robotic chef, which prepares laksa for their passengers, will revolutionize the market in the foreseeable future.

Airports across the world are extensively adopting technology-based devices, like the on-site application of IoT and smart baggage system to improve customer experiences. A recent trend is the commercialization and development of intelligent technologies offering a digital ecosystem, like flight booking management, machine-driven arrival, and baggage and document checks to the passengers. Such trends are likely to push the market growth uphill.

On the contrary, the development of environmental-friendly solutions to increase baggage management, passenger traffic management, and providing cost-effective services to travelers are some of the major challenges faced by the market. Moreover, failures in the smart systems are estimated to vitiate the market growth in the foreseeable future.

Global Smart Airport Market: Segmental Analysis

The global smart airport market is segmented on the basis of technology, terminal type, application, airside, and landslide.

By technology, the smart airport market is segmented into security systems, cargo & baggage handling control, communication systems, passenger, air/ground traffic control, endpoint devices, and others. Among these, the passenger and cargo & baggage ground handling control segments are likely to gain prominence due to the increased adoption of new systems like an automated collection of fees, self-scanning, and direct transfer to the destination.

By application, the smart airport market is segmented into aeronautical operations and non-aeronautical operations. Of these, the non-aeronautical segment is likely to experience important growth, with services like advertising, retail outlets, Wi-Fi, smart parking, lounge access, restaurants, and personalized services are propelling the growth.

By terminal type, the smart airport market is segmented into check-in systems, baggage handling, sustainable energy management, and building operations.

By airside, the market is segmented into ATM, aircraft parking, resource management, aircraft maintenance, and others.

By landside, the market is segmented into vehicular parking and security & intelligent advertising.

Regional Frontiers

Geographically, the smart airport market spans across Europe, North America, Asia Pacific, South America, and the Middle East and Africa.

Considering the global scenario, North America is predicted to command the biggest share due to technological advancements. The major portion of revenue comes from the U.S.A., Mexico, and Canada due to advancing technology. Improvements made in the existing services and solutions, coupled with the existence of a large number of airport solution and service providers are propelling the growth of the market in the foreseeable future.

The European Union has noticed a considerable increase in the number of air passengers. With the growing volume of air passengers across the globe, the construction of the smart airport will gain mileage in this region. Moreover, countries across Europe are well-liked tourist destinations. This is further likely to create growth opportunities for the market.

The Asia Pacific is experiencing high investments from the government for the expansion of airports, along with implementing the advanced solution. The increased demand for automated and self-service processes are propelling the growth of smart airports in the region. The increased IT spending on airports to enhance passenger experience is likely to encourage the growth of the market.

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List of Tables

Table 1 Global Smart Airport Market: by Region, 2017-2023
Table 2 North America Smart Airport Market: by Country, 2017-2023
Table 3 Europe Smart Airport Market: by Country, 2017-2023
Table 4 Asia Pacific Smart Airport Market: by Country, 2017-2023
Table 5 Row Smart Airport Market: by Country, 2017-2023
Table 6 Global Smart Airport Market, by Technology, by Regions, 2017-2023
Table 7 North America Smart Airport Market, by Technology, by Country, 2017-2023
Table 8 Europe Smart Airport Market, by Technology, by Country, 2017-2023

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List of Figures

Figure 1 Research Process of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Smart Airport Market Share, by Technology, 2016 (%)
Figure 9 Global Smart Airport Market, by Technology, 2015-2023 (Usd Million)

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