Globally, the size of the Intelligent Airways Transportation System Market is expected to reach USD US21.5 billion at a CAGR of 11.6% during the forecast period of 2016-2022 driven by many more people flying (for the first time) because airlines now offer free WIFI and other Internet of Things (IoT) services.
The CAGR for the Intelligent Airways Transportation System Market is projected to be 11.5% for the next year (until 2022.) The Intelligent Airways Transportation System (IATS) helps airlines use Information Technology (IT) to manage airplane operations better.
The main goal of Intelligent Airways Transportation System technologies is to provide a great flying experience for passengers while keeping them safe.
The COVID-19 virus appeared on the global scene in March 2020. Many governments imposed temporary quarantines (USA) and even indefinite lockdowns (India) to try to contain the spread of the virus.
This negatively impacted the Intelligent Airways Transportation System Industry by making it harder for companies of these technologies to obtain the raw goods for them. Many of the companies that were able to find raw goods were paying a premium price for them. They were forced to pass this onto airline companies in the form of higher prices.
The main factors that are driving Intelligent Airways Transportation Growth is a strong emphasis on passenger safety and security and superior general service. However, many more people are flying (for the first time) because airlines now offer free WIFI and other Internet of Things (IoT) services.
More and more people are flying to get to different places. This has driven growth and created new opportunities in the Intelligent Airways Transportation Industry. Some of these are passenger empowerment system services and solutions. These have the secondary benefit of making flying a much more pleasant and comfortable experience.
The Intelligent Airways Transportation System Industry does not have enough capacity to meet growing demand from passengers and airlines. Congestion and the high cost of upgrading these systems are some of the factors that are holding growth in this industry back.
One of the challenges that this industry faces is the ability to provide enough real-time (information being disseminated as events occur) to airlines and passengers.
Cumulative Growth Analysis:
The CAGR for the Intelligent Airways Transportation System Market is projected to be above 10% by the end of 2022. The market is projected to be worth USD 21.5 billion by then.
New technologies in the Intelligent Airways Transportation System Market are helping it apply these technologies to other sectors. Some of these include smart roads, airstrips, water systems, railway systems, and cities.
Intelligent Airways Transportation System Technologies use radio signals, radio networks, and GPS systems and networks to operating. It is also increasingly channeling these technological capacities into IoT products and services.
The Intelligent Airways Transportation System is incorporating cloud and edge computing technologies to bring a new generation of products to the market. These are designed to transform data into meaningful, useful, and predictive insights.
This industry is divided into many segments. These are components and deployment and technology. The component segment is comprised of sensors, display units, ccc, networking devices, etc... Deployment can be further segmented into passenger empowerment, smarter bagging solutions, biometric-enabled self-service, data science, robotics, artificial intelligence, etc... Deployment is powered by cloud and on-premises technologies.
The North American region is expected to have the strongest Intelligent Airways Transportation System Market Growth Rate. The main driver is R&D in the areas of smart technology as it pertains to airlines and IoT. The USA and Canada have been adopting these technologies the most zealously.
Many European governments have mandated that airports automate facilities and services. This has been a large driver behind the increased market growth.
The fastest-growing market is going to be in Asia-Pacific. The reasons why are the dramatic increase in the building and usage of airports, greater demand for airport information, the fact that more and more airports are using these new technologies, and better baggage handling systems.
The Intelligent Airways Transportation System Market is very competitive due to the large number of companies that are in the industry. These companies are surviving with new product launches, mergers and acquisitions, and joint ventures.
Denso Corporation is a US/Canada-based firm. It is surviving through innovation. This company is introducing a new generation of IoT technologies that operate off the cloud. These solutions accurately replicate situations that are common in cities. They help city planners manage traffic conditions better.
Some Major Companies are:
The Intelligent Airways Transportation System Industry is growing at a rapid pace. It is expected to have a high market value and share by the end of 2022. The increasing incorporation of its technologies, combined with technological innovations, is driving its adaptation and incorporation into cars and cities. The industry is very competitive. This is the reason why the major companies are always launching new products to market.
|Market Size||USD 49 Billion (2015)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Product,|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Roper Technologies, Inc. (US), Hitachi Ltd (Japan), Siemens AG (Germany), Thales Group (France), Xerox Corporation (US), BRISA (Portugal), Kapsch Trafficcom (Austria), Q Free (Norway), Efkon AG (Austria), Lanner Electronics Inc. (Taiwan), Denso Corporation (Japan), TomTom International BV (Netherlands), Savari Inc. (US), Nuance Communication Inc. (US) and Garmin Ltd (US).|
|Key Market Opportunities||Increasing demand for ITS is expected to show the significant growth in the wireless application (that includes device and application) offers a lucrative opportunity to the key players in the global market.|
|Key Market Drivers||The growing demand for successful implementation of connected cars technology opening doors for the intelligent transportation system.|
An intelligent airways transport system helps facilitate the utilization of information technology to manage the services that are offered by the airways. It offers high security to the passengers as well as high service quality to the customers.
Roper Technologies, Inc. (US), Hitachi Ltd (Japan), Siemens AG (Germany), Thales Group (France), Xerox Corporation (US), BRISA (Portugal), Kapsch Trafficcom (Austria), Q Free (Norway), Efkon AG (Austria), Lanner Electronics Inc. (Taiwan), Denso Corporation (Japan), TomTom International BV (Netherlands), Savari Inc. (US), Nuance Communication Inc. (US) and Garmin Ltd (US).
The trend of increasing use of internet across regions around the world is boosting the market growth.
The global market for intelligent airways transportation system was worth US 11.18 Billion in 2016 and can reach a valuation of US21.5 Billion by 2022.
Mounting disposable income of individuals coupled with the rising demand for a variety of technological solutions among airlines is giving rise to various growth opportunities for the market.
The market is projected to grow lucratively on the basis of factors like increasing adoption of internet of things within the airways system.