“Increased air traffic passenger is the prime factor expected to drive the growth of the smart airports market”
The smart airports market is projected to grow from USD 11.31 billion in 2016 to USD 14.87 billion by 2021, at a CAGR of 5.64% from 2016 to 2021. This growth can be mainly attributed to factors such as travelers’ growing needs for real-time information and airports moving towards customer centric approach. However, stringent governmental regulations about the airport may restrain the growth of this market.
“The communication systems segment is anticipated to be fastest growing segment in the smart airports market during forecast period”
Based on technology, the communication systems is anticipated to be fastest-growing segment in the smart airports market during forecast period. With the rising need of real-time information, airports are adopting smart technologies for free-flow of communication. This adoption of technologies includes airside wireless and terminal side wireless solutions, innovations to integrate smartphones for information at every point of a passenger’s journey, and increased usage of social media and near field communication technology.
“Air traffic management is the largest segment”
Based on airside, air traffic management is the largest segment in the smart airports market. Major investments of the airport are in air traffic management due to increased safety regulations laid by ACI, ICAO, EASA among others. Technological developments in air traffic management such as Ground Based Augmentation System in the recent past also lead to up gradation of existing airside equipment. Moreover, the global mandate by Eurocontrol and International Civil Aviation Organization (ICAO) to replace the existing air traffic equipment by new equipment is also expected to drive the demand for air traffic management segment during the forecast period.
“North America was the largest market in 2016 and Asia-Pacific is projected to be the fastest-growing market for smart airports during the forecast period”
Based on region, North America was largest market for the smart airports in 2016. According to Airport Council International (ACI), the world’s 20 busiest airports are based in this region. North America handles more cargo and passengers as compared to any other region, globally.
Asia-Pacific is projected to be the fastest-growing market for the smart airports during the forecast period. Upcoming new greenfield airport projects and expansion of existing airports are the key factors driving the market in this region. In addition, smart technologies are expected to be implemented in upcoming airports, owing to its high efficiency. This is further expected to propel the market growth during the forecast period
Break-up of profile of primary participants in the smart airports market:
- By Company Type - Tier 1 – 30%, Tier 2 – 35%, and Tier 3 – 35%
- By Designation – C Level – 32%, Director Level – 38%, and Others – 30%
- By Region – North America - 27%, Europe – 18%, Asia-Pacific – 46%, and RoW – 9%
Major companies profiled in the report include Honeywell Corporation Inc. (U.S.), Rockwell Collins (U.S.), SITA (Switzerland), Siemens AG (Germany), IBM Corporation (U.S.), and Amadeus IT Group SA (Spain) among others.
This research report categorizes the smart airports market on the basis of technology (Security Systems, Communication Systems, Passenger, Baggage & Cargo Handling, Air/Ground Traffic Control, Endpoint Devices, Other technologies), Airside (Air Traffic Management, Resource Management, Aircraft Parking, Aircraft Maintenance, and Others), terminal side (Baggage Handling, Check-in Systems, Building Operations, and Sustainable Energy Management), Landside (Vehicular Parking, Security, and Intelligent advertising), application (Aeronautical Operations and Non-aeronautical Operations). These segments and subsegments are further mapped across major regions, namely, North America, Europe, Asia-Pacific, Middle East, South America, and Africa.
Reasons To buy this report:
From an insight perspective, this research report has focused on various levels of analyses ?industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles. The basic views on the competitive landscape, emerging and high-growth segments of the market, high-growth regions, and market drivers, restraints, challenges, and opportunities are also covered in the report.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on smart airports offered by top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the smart airports market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the smart airport market across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the smart airports market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the smart airports market