ID: MRFR/A&D/2914-HCR | February 2021 | Region: Global | 100 pages
The global airport management market is anticipated to register a CAGR of approximately 10% from 2018 and 2025 owing to growing investments by major giants such as IBM Corporation and Siemens AG in developing smart airport solutions. Furthermore, the increasing adoption of smartphones and tablets is also driving the growth of the global airport management market. The growing need for sophisticated management at airports is driving the market growth. Airport management assists in the smooth functioning of operations. Efficient management at the airports ensures less waiting time for passengers and enhanced services. However, issues related to cybersecurity and stringent government regulations regarding airport security and management might hamper the growth of the market.
Segmentation of the Global Airport Management Market
On the basis of component, the global airport management market has been segmented into software and services. The software segment has been sub-segmented into passenger systems and non-passenger systems. The software segment dominated the market in 2018. However, the services segment is expected to register a higher CAGR during the forecast period. The growing demand for enhanced services by passengers is driving the growth of the segment. On the basis of airport size, the market is segmented into class A, class B, class C, class D. The class B segment dominated the market in 2018 is expected to exhibit the highest CAGR during the forecast period. Increasing air passenger traffic from the small cities is propelling the need to upgrade and expand the capacity of airports. Hence, the segment is expected to register the highest CAGR. Based on application, the market is segmented into security, content management, logistics, integration, collaboration, gate management, performance management, business applications, others. The security segment dominated the market in 2018 and is expected to grow at the highest CAGR during the forecast period from 2019 to 2025. Stringent government regulations regarding airport and passenger safety is driving the segment growth. Based on region, the airport management market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America dominated the market in 2018. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period. Increasing air passenger traffic in the region and rising investments by the governments of countries such as China and India in developing advanced airports are driving the market growth in the region.
The key players in the global airport management market are IBM Corporation (US), Cisco Systems, Inc. (US), Siemens AG (Germany), Honeywell International Inc. (US), Raytheon Company (US), Qinetiq (UK), Amadeus IT Group (Spain), Sita (Switzerland), Rockwell Collins, Inc. (US), and Inform GmbH (Germany).
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Frequently Asked Questions (FAQ) :
The North American region market will be deciding the course of development in the forecast period.
An influential income level is predicted to motivate the market.
A 10% CAGR is estimated to spur the global market in the impending period.
Sita (Switzerland), Rockwell Collins, Inc. (US), Amadeus IT Group (Spain), and Inform GmbH (Germany) are anticipated to add greatly to the market.
The need for sophisticated management at airports due to surging air passenger volumes will decide the market's development.