The global airport asset tracking market was valued at US$ 349.3 million in 2019 and is expected to reach US$ 892.2 million by 2027 with a CAGR of 13.1% from 2020 to 2027. The growing investments toward the construction of newer airports and expansion of the existing ones are encouraging the adoption of enhanced solutions for better operations, which is contributing to the airport asset tracking market growth. Airports nowadays are focused on deploying and integrating advanced technologies to enable passengers, airline crews, airport staff, and other individuals to operate smoothly. Apart from managing passenger movement, numerous other tasks are performed at airports, including cargo handling, baggage management, loading, and ramp management; to ensure an ease flow of these operations, airport management seeks advanced solutions and technologies. Further, with the rising number of air travellers, there has been an increase in the expansion of existing airport facilities with a greater number of terminals. Therefore, a globally growing number of airports is supporting the growth of airport asset tracking market.
As per the International Air Transport Association (IATA), China is anticipated to surpass the US as the world’s largest aviation market in the mid-2020s. To be the largest aviation market, the country needs to deploy advanced technologies with an aim to improve the airport and passenger experience. Additionally, the country’s airports are experiencing significant investment in sophisticated technologies which is expected to propel the growth of airport asset tracking market.
The global airport asset tracking market is segmented on the basis of offering and asset type. Based on offering, the airport asset tracking market is segmented as hardware and software. Based on asset type, the airport asset tracking market is segmented as fixed assets, portable assets, and mobile assets. The airport asset tracking market is competitive in nature with the presence of a large number of players.
Abeeway SAS, Adveez SAS, Asset Fusion Limited, Ctrack, Litum, SteerpathOy, Telemetry Systems Ltd, Undagrid B.V., Targa Telematics S.p.A., Geotab Inc., Inseego Corp., Unilode Aviation Solutions, and Trilogical Ltd. are among the key players operating in the global airport asset tracking market, which are profiled in this market study.
The global airport asset tracking market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the airport asset tracking market. The process also serves the purpose of obtaining overview and forecast for the airport asset tracking market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data as well as to gain more analytical insights into the airport asset tracking market. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the airport asset tracking market.