ID: MRFR/A&D/4426-HCR | February 2021 | Region: Global | 100 pages
Smart Airport Market is expected to grow at a Significant CAGR During Forecast Period. The main theme of constructing the smart airport is to create systems and processes which are digitally equipped and arranged in terms of process efficiency and connectivity. Various advanced technologies like the preparation of artificial intelligence technology and client identification through a unique heartbeat pattern using the assistance of biometric signatures are introduced across airports for supporting the management of huge airport databases.
The development and commercialization of advanced intelligent technologies provides digital ecosystem like flight booking management, baggage & document checkers, machine-driven arrival
The Covid-19 pandemic has drastically affected various sectors around the world. But the smart airport market is positively impacted by its new technologies. The investments towards the integration of technological innovations like touchless solutions, self-service check-in kiosks, and biometric kiosks are increased than the previous years. Due to the lockdown and risk of spreading coronavirus, people are decreased in the airports, and is easy to install and implement the new advanced technologies in the airports.
After the completion of lockdown and the reduction of corona cases, passengers restarts to increase in the airports during the review period which highly needs the implementation of advanced technologies like electronics, control systems, IT, robotics, etc in smart airports for efficient management at low cost. Moreover, the increased need for the passenger’s experience in airports propels the growth of the smart airport in the forthcoming years. The customer experience may be enhanced by the new technologies like smart glasses that are helpful to blind people and the biometric system for passenger identification. Hence the COVID-19 gives opportunities to the key players to innovate the new technologies and increase the growth of the smart airport market.
Increasing the demand for real-time data reduces the burden on airport infrastructure and manpower is expected to accelerate the growth of the market. The establishment of new airports, modernization of existing airports, rise in green initiatives by the airports, and the development of commercial aviation are some of the growth factors that boost the global smart airport market.
Moreover, airports across the globe are adopting smart baggage systems and on-site applications of the Internet of Things (IoT) for the customer experience. Development of queue management system, security checkpoints, predict the waiting time in arrival areas, taxi lanes, and passport management will help the passengers to travel comfortably which propels the growth. In September 2020, the Bangalore International Airport (BIAL) collaborated with Xovis and installed a Queue Management System at Kempe Gowda International Airport located in Bengaluru which reduces waiting time, manages passenger flow, and enhance operational efficiency.
A large number of investments are required for the construction of airfields and difficulty in understanding customer preferences are the restraining factors of the smart airport market. Moreover, in most countries, the conventional airport requires technological upgrades and this process involves management issues that are hindering the global market.
Wheelchair guided by the vision-based technology is the smart wheelchair system which is to be implemented in the coming years may be expected to be an opportunity to increase the market growth. The advanced innovative smart robots for the rise of productivity of the workforce and Roboto, a prototype robotic chef that prepares Laksa for passengers
The development of environment-friendly solutions for growing baggage management, passenger traffic management, and providing cost-effective services to the passengers are the major challenges of the smart airport market. Apart, frequent failures in the smart system and its repairing requires a lot of resources, time, money, and professionals which are hampering the growth of the market.
The global smart airport market has been divided into segments based on application, technology, terminal type, airside, landside, and region.
Based on Application
The global smart airport market by application is segmented into two types as aeronautical operations and non-aeronautical operations. The non-aeronautical segment is expected to hold a significant growth for the services like advertising, smart parking, retail outlets, Wi-Fi, and so on are propelling the growth of the market.
Based on Technology
Based on the technology, the smart airport market is classified into various segments like security systems, communication systems, air/ground traffic control, cargo & baggage handling control, endpoint devices, passenger, and others. Out of these, the cargo & baggage segment holds the largest demand in the forecast period for its rising customer demand for the process of carrying and receiving the baggage, self-scanning, and security check which directly transfer to the final segment.
Based on Terminal Type
By terminal type, the smart airport market is bifurcated into building operations, baggage handling, check-in systems, and sustainable energy management.
Based on Airside
The smart airport market trends based on the airside are divided into ATM, resource management, aircraft parking, aircraft maintenance, and others.
Based on Landside
The global market outlook based on the landside is classified into two types as vehicular parking and security & intelligent advertising.
Based on Region
Regionally, the smart airport market is globally analyzed into five regions like North America, Asia-Pacific, Europe, Middle East & Africa, and Latin America. Out of these, North America dominates the largest smart airport market share for its presence of a huge number of smart airports and growing airport modernization programs in the US and Canada.
Globally, the smart airport market analysis based on region is divided into Asia-pacific, Europe, North America, Middle East & Africa, and Latin America. Among these regions, North America is said to be in the leading position in the global market owing to its large number of smart airports and increasing airport modernization program in the US and Canada. Along with the presence of huge smart airports, there is the presence of major smart solution providers like Collins Aerospace, Honeywell International Inc., and IBM Corporation is propelling the growth of the market in this region. Based on the US, most of the companies operate in the smart airport market. To optimize the operations at airports, a huge number of investments are needed in smart applications. The technologies implemented like IoT, AI, and AV VR are having the capacity to optimize airport operations and can bring transparency.
Due to the increase in rising initiatives related to smart airports in countries like Germany, France, and Spain, Europe holds the second largest market share during the forecast period. Owing to its growing number of air passengers and the development of international airports, the Asia-Pacific region is said to be the fastest-growing region.
The prominent key players in the smart airport market trends are the following:
This global smart airport market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the smart airport market drivers, restraints, challenges, and opportunities. The smart airport market forecast segments are application, technology, terminal type, airside, landside, and region.
The smart airport market outlook has been segmented globally based on the application, landside, airside, technology, terminal type, and region.
Aeronautical operations and non-aeronautical operations.
Security systems, communication systems, air/ground traffic control, cargo & baggage handling control, endpoint devices, passenger, and others.
By Terminal Type
Building operations, baggage handling, check-in systems, and sustainable energy management.
ATM, resource management, aircraft parking, aircraft maintenance, and others.
Vehicular parking and security & intelligent advertising.
Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa are the four main geographies included in this market.
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.