ID: MRFR/A&D/4426-HCR | February 2021 | Region: Global | 100 pages
The global smart airport market has grown drastically with innovative technologies that have enhanced user experiences. The rise in demand for real-time data is anticipated to drive the market growth, as it helps to ease the burden on airport infrastructure and manpower. The key growth drivers include modernization of previous airports, establishment of new airports, development in commercial aviation, and increase in green initiatives by the airports. The aim of constructing a smart airport is to create systems and processes that are digitally equipped and arranged, in terms of process efficiency and connectivity.
The introduction of various devices with innovative options, such as client identification through a unique heartbeat pattern with the assistance of biometric signatures and preparation of artificial intelligence technology, across airports are supporting the management of huge airport databases.
Smart robots are set to rise the productivity of the workforce, working at Singapore Changi airport. A smart wheelchair system, wheelchairs guided by vision-based technology is the latest technology which is to be implemented at the airport in the upcoming years. Different technologies include Roboto, a prototype robotic chef, which prepares ‘laksa’ for passengers in SATS Premier Lounge.
A rising trend within the industry is the development and commercialization of recent intelligent technologies that provide a digital ecosystem, such as machine-driven arrival, flight booking management, and baggage and document checks to the passengers. Airports across the globe are progressively adopting technology-enabled devices, such as smart baggage system and on-site application of Internet of Things (IoT) to transform customer experiences. Moreover, development of queue management systems that utilize existing CCTV systems and predict the waiting time in arrival areas, security checkpoints, taxi lanes, and passport management will help to locate the passenger in less time. Queue management system counts the number of passengers captured within the CCTV cameras, calculate the waiting time, and predict the time spent by a traveler in a queue.
At present, airports are accumulating traveler data to provide various added advantage to passengers, such as data regarding the nearest retail locations, live updates on flight status, traffic and parking updates, guidance for arrival and baggage drop, directions for immigration check, and live updates on bus and taxi transportation services.
Segmentation of the Global Smart Airport Market
The smart airport market is segmented based on technology, application, terminal type, airside, landside, and region. The various application varieties analyzed, within the report, embrace aeronautical and non-aeronautical operations. The non-aeronautical segment is expected to witness important growth throughout the forecast period. Services such as retail outlets, advertising, smart parking, Wi-Fi, restaurants, lounge access, and personalized services are driving the growth in non-aeronautical applications.
Airports, worldwide, have started diversifying their financial gain and are spending huge amount to implement non-aeronautical operations, such as providing parking facilities, lounges, conference rooms, and boarding and lodging facilities. Airports are currently focusing their efforts on traveler satisfaction and have started providing various facilities, such as providing personalized data relating to retail showrooms and related offers, by analyzing the precise habits and wishes of previous visited passengers, so as to make customized user expertise for the new passengers.
The segment, terminal side is predicted to emerge as the largest section during the forecast period. Terminal side updated information is provide to the traveler on their smartphones so as to know the landing field kiosks. It also involves devices that provide location services and alerts for guiding traveler to their terminals and gates with personalized retail and hospitality offerings.
The smart airport market is estimated to grow at a CAGR of more than 6% during the forecast period of 2018-2025. This estimation of a CAGR is due to the rise in usage of digital technologies worldwide, aircraft companies are more focusing towards the digital transformation to enhance personal experience of the passengers.
Based on the region, the market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latine America. The North America is expected to dominate the market in future due to the large number smart airports and rising airport modernization program in US and Canada. Mprepver, a majority of the companies operating in the smart airports market are based in the US. Europe is second largest market due to rise in the increasing smart airport initiatives in countries, such as Germany, France, and Spain. Asia-Pacific region is the fastest growing region in smart airport market due to increasing number of air passengers and development of international airports in the region.
The key players in the global Smart Airport market are Honeywell Corporation Inc., Collins Aerospace, SITA, Siemens AG, IBM Corporation, Cisco Systems Inc., Raytheon Company, Kiewit, Larsen & Toubro, and Amadeus IT Group SA.
The market values and forecast are derived using the Market Research Future (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.
MRFR offers report customization to valued customers. Below are the options available for customization: Company Profiles In-depth profiling of additional market players (3 to 4 companies)
Country-Level Analysis Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Frequently Asked Questions (FAQ) :
Smart Airport Market is expected to attain a CAGR of roughly 12% in the near future.
The key types of technologies listed in the report include Communication Systems, Endpoint Devices, Air/Ground Traffic Control, Passenger, Security Systems, Cargo & Baggage Handling Control, and more.
A key market trend that is gaining traction across the world is the rising commercialization of the latest intelligent technologies that make a digital ecosystem, including flight booking management, machine-driven arrival and document and baggage checks for the passengers.
The Smart Airport Market is growing on the backing of rising number of innovative and advanced technologies that improve the user experience. Increased demand for real-time data since it eases the burden on the airport infrastructure as well as manpower also benefits the market. The growing modernization of the existing airports, surge in new airports, advancements in commercial aviation, and the rise in green initiatives by airports also boost the market growth.
North America can expect to attain the top position in the global market.