NEW YORK, May 23, 2024 /PRNewswire/ — The global smart airports market size is estimated to grow by USD 6.66 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 12.73% during the forecast period.
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Technavio has announced its latest market research report titled Global Smart Airports Market 2024-2028
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Smart Airports Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.73% |
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Market growth 2024-2028 |
USD 6669.08 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
12.25 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 38% |
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Key countries |
US, Canada, China, UK, and Germany |
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Key companies profiled |
Alvest SAS, Amadeus IT Group SA, Ascent Technology Inc., Cisco Systems Inc., Daifuku Co. Ltd., Deutsche Telekom AG, Honeywell International Inc., Huawei Technologies Co. Ltd., Indra Sistemas SA, Infax Inc., International Business Machines Corp., Kiewit Corp., L3Harris Technologies Inc., NEC Corp., Raytheon Technologies Corp., Sabre Corp., Siemens AG, SITA, Thales Group, and Wipro Ltd. |
Market Driver
Airports are undergoing digital transformations, integrating advanced technologies such as IoT, data analytics, AI, and robotics to optimize operations and enhance passenger experiences. Contactless check-in systems, biometric kiosks, and smart boarding processes are among the digital solutions being implemented for a more efficient and convenient journey.
Advanced technologies like AI-driven technology and facial recognition are used to improve passenger safety and security measures. Airport operators focus on revenue diversification through non-aeronautical offerings, including automated check-in kiosks, baggage drop systems, and autonomous vehicles. Data storage and control systems ensure hygiene standards and support industry expansion.
Digital solutions and electronics are integral to creating a seamless travel experience, with self-service check-in kiosks and automated kiosks streamlining operational processes. Smart airports prioritize passenger experience, traffic levels, and operational efficiency, leveraging technologies like AI, robotics, and blockchain for improved overall performance.
Market Challenges
The smart airports market involves the integration of advanced technologies such as contactless check-in systems, facial recognition, and biometric kiosks, to enhance passenger experience and safety. However, the high initial investment required for implementing these technologies, including data storage systems, control systems, and robotics, can pose financial challenges for airport operators.
Prioritization of investments in safety, security, and infrastructure maintenance may limit budgets for technology upgrades. The complex integration process and potential need for substantial modifications to airport premises further increase costs. Despite these challenges, the adoption of smart technologies is crucial for revenue diversification, operational process efficiency, and passenger traffic level management in the aviation industry.
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Segment Overview
End-user
1.1 Non-aeronautical
1.2 Aeronautical
Application
2.1 Large
2.2 Medium
2.3 Small
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Non-aeronautical- In the smart airports market, end-user segmentation encompasses various entities contributing to the industry’s expansion. Contactless check-in systems and self-service technologies, such as automated kiosks and facial recognition, streamline operational processes for passenger traffic levels. Control systems and data storage solutions ensure efficient and convenient journeys, while digital solutions and endpoint devices facilitate information and support.
Advanced technologies like AI-driven and AI-powered systems, robotics, and autonomous vehicles enhance passenger experiences and safety. Hygiene standards and financial considerations are crucial factors in implementation and integration. Non-aeronautical revenue sources, including advertising spaces, digital signage, and self-service check-in kiosks, offer revenue diversification.
Airport operators invest in advanced technologies, such as automated baggage drop systems, biometric kiosks, and cleaning solutions, to optimize airport operations and cater to passenger safety concerns. The integration of electronics, self-service installation, and security measures further bolsters the industry’s growth.
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Research Analysis
The Smart Airports Market is experiencing significant expansion, driven by the implementation of self-service technologies such as biometric kiosks and automated check-in systems. Touchless solutions, including self-service baggage drop systems and smart boarding processes, are becoming increasingly important in the aviation industry to enhance efficiency and reduce wait times.
Integration of electronics, communication & connectivity, data storage, and software & solutions are crucial for the seamless operation of self-service kiosks and endpoint devices. The use of Aviation Blockchain technology further enhances security and streamlines processes. The integration of these advanced technologies is transforming traditional airport operators into smart airports, providing a touchless and efficient travel experience for passengers.
Market Research Overview
The Smart Airports Market encompasses the latest technologies and innovations in the aviation industry, focusing on enhancing efficiency, passenger experience, and security. Technologies such as Contactless Check-in, Automated Baggage Handling Systems, Facial Recognition, and Real-time Flight Information Displays are transforming the airport experience.
Additionally, the integration of IoT, AI, and Big Data Analytics is enabling predictive maintenance, optimizing resource utilization, and improving overall airport operations. The market is expected to grow significantly due to increasing travel demand, government investments, and the need for seamless and contactless travel experiences.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
End-user
Non-aeronautical
Aeronautical
Application
Large
Medium
Small
Geography
North America
Europe
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio