Smart Airport Market Revenue Trends, Company Profiles, Revenue Share Analysis, 2021-2028
Rising demand for real-time data and developing connectivity advancements in smart airports are driving market revenue growth
Market Size – USD 2,609.3 Million in 2020, Market Growth
– at a CAGR of 18.2%, Market Trends – Advancements in airport connectivity
solutions
The global smart
airport market size is expected to reach USD 10.07 Billion in 2028 and
register a revenue CAGR of 18.2% over the forecast period, according to the
latest report by Reports and Data. Growing focus on smart city development
globally is a key factor driving smart airport market revenue growth.
Communication systems, cargo and baggage handling, ground handling, security
systems, vehicle parking solutions, and air traffic management are all part of
the smart airport infrastructure. Passenger and staff notification systems,
information display systems, lighting systems, and announcement systems also
are among functions that are expected to fuel demand for smart airports.
Growing demand for real-time information and increasing
advancement in connectivity technologies are projected to propel smart airports
market growth. The major objective of establishing a smart airport is to
develop systems and processes that are digitally equipped and
organized for maximum efficiency and connectivity. Various modern
technologies, such as the artificial intelligence and client identification
utilizing a unique pulse rhythm and biometric signatures, are being used
throughout airports to help with the administration of large airport databases.
Rising need for intelligent systems for functions like flight ticket
management, and baggage and document inspections, is propelling market growth.
Companies profiled in
the global market report include Collins Aerospace, Siemens AG, Thales Group,
Ascent Technologies, Daifuku Co. Ltd., Wipro Limited, Zensors, Smart Airport
System (SAS), Infax Inc., IBM Corporation.
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Some Key Highlights from the Report
- By
application, airside application segment accounted for the largest revenue
share of the global smart airport market in 2020. Airside applications of
smart airport infrastructure include air traffic control and aircraft
turnaround management. Smart apps for airside operations have become more
popular in recent years. Airports have the ability to substantially reduce
passenger wait times and handle some of the most common concerns, such as
lost baggage, flight delays, and customer service difficulties, by
successfully leveraging Internet of Things (IoT), Artificial Intelligence
(AI), and Big Data.
- By
type, Airport 4.0 segment is expected to be the fastest-growing segment in
terms of revenue share over forecast period. Airport 4.0 focuses on
connectivity and real-time information by connecting all stakeholders in
an integrated digital environment.
- Smart
airport market in North America accounted for largest revenue share in
2020. The effort to enhance airport operations is driving investments in
smart airports. The use of internet of things (IoT), artificial
intelligence (AI), and Virtual Reality (VR) and Augmented Reality (AV) in
airport operations has the potential to improve efficiency and
transparency. Presence of key smart solution providers like Collins
Aerospace, IBM Corporation, and Honeywell International Inc. is also
expected to fuel market growth in this region.
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Summary
For the purpose of this report, Reports and Data has
segmented the Smart Airport Market based on system, application, airport size,
end use, type, operation, and region:
System Type Outlook (Revenue, USD Million;
2018–2028)
- Communication
& Network systems
- End
devices
- Data
storage
- Software
& solutions
Application Outlook (Revenue, USD Million;
2018–2028)
- Landside
- Terminal
side
- Airside
Airport size Outlook (Revenue, USD Million;
2018–2028)
- Large
- Medium
- Small
End Use Material Outlook (Revenue, USD Million;
2018–2028)
- Implementation
- Upgrades
& Services
Type Outlook (Revenue, USD Million; 2018–2028)
- Airport
2.0
- Airport
3.0
- Airport
4.0
Operation Outlook (Revenue, USD Million; 2018-2028)
- Aeronautical
- Non-aeronautical
Regional Outlook (Revenue, USD Million; 2018–2028)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- Middle
East & Africa
Key Questions Answered In The Report
1. What will be the market size and growth
rate in the forecast year?
2. What are the key factors driving the
global Smart Airport market?
3. What are the risks and challenges in
front of the market?
4. Who are the key players in the global Smart
Airport market?
5. What are the trending factors
influencing the market shares?
6. What are the key outcomes of Porter’s
five forces model?
7. Which are the global opportunities for
expanding the global Smart Airport market?
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Table of Contents:
- Global Smart Airport Market
Overview
- Economic Impact on Industry
- Market Competition by
Manufacturers
- Production, Revenue (Value) by
Region
- Market Effect Factors Analysis
- Industrial Chain, Sourcing
Strategy and Downstream Buyers
- Supply (Production), Consumption,
Export, Import by Regions
- Production, Revenue (Value), Price
Trend by Type
- Global Smart Airport Market
Forecast
- Global Smart Airport Market
Analysis by Application
- Manufacturing Cost Analysis
- Marketing Strategy Analysis,
Distributors/Traders
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