Smart Airport Market Revenue, Growth, Developments, Size, Share and Forecast 2029

shital chaudhari

The Global Smart Airport Market, valued at USD 5.39 Billion in 2022, is poised for remarkable growth, with revenues projected to surge at a CAGR of 18.24% from 2023 to 2029, reaching nearly USD 17.42 Billion.

Market Overview

As of the most recent Smart Airport Market update, the global economic landscape reflects a dynamic interplay of various factors. Major financial markets continue to navigate the aftermath of the unprecedented events that unfolded in recent years, such as the global pandemic and geopolitical shifts. Equities have demonstrated resilience amid ongoing uncertainties, propelled by technological advancements, innovation, and accommodative monetary policies. However, challenges persist, including inflationary pressures, supply chain disruptions, and regulatory changes in various sectors. Investors are closely monitoring central bank decisions, fiscal policies, and emerging trends to assess potential opportunities and risks. The market’s response to evolving conditions underscores the importance of adaptability and strategic planning for both businesses and investors in this complex and ever-changing environment.

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Report Scope:

The Smart Airport Market is witnessing rapid evolution, driven by technological advancements and increasing demand for enhanced passenger experiences, operational efficiency, and security. The report delves into various components and services, including smart infrastructure, digital signage, biometric authentication, IoT applications, and AI-driven analytics, across Greenfield and brownfield airport projects, as well as retrofits of existing airports.

Research Methodology:

Employing a blend of primary and secondary research techniques, the analysis utilizes analytical tools such as SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to forecast market trends, drivers, challenges, and opportunities. Case studies and industry trend tracking further enrich the insights, aiding strategic decision-making for stakeholders.

Drivers:

The market is propelled by the imperative for streamlined operations, cost reduction, and improved passenger satisfaction, augmented by technological innovations like IoT, AI, and blockchain. Additionally, the COVID-19 pandemic accelerates the adoption of contactless solutions and health screening measures, fostering market growth.

Restraints:

Challenges include the scarcity of skilled professionals, integration complexities, regulatory barriers, privacy concerns, high implementation costs, cybersecurity risks, and environmental considerations.

Segmentation:

  • Type: The airport 2.0 segment dominates, driven by demand for AI and IoT systems.
  • Application: The airside segment leads, leveraging IoT and AI to enhance passenger experiences.
  • Airport Size: Large airports dominate, emphasizing the need for smart systems amid rising air traffic.
  • Operation: The non-aeronautical segment takes precedence, with a focus on revenue diversification.

by Product

Airport 2.0
Airport 3.0
Airport 4.0

by System

Communication & Network Systems
Wireless
Near Field Communication, RFID, Bluetooth
LPWAN & WLAN
Endpoint Devices
Sensors
Tags
Displays
Cameras
Wearables
Data Storage
Cloud
On-premise
Software & Solutions
Platforms
Software & Applications
Data Analytics
Managed Services

by Application

Airside
Air Traffic Management
Aircraft Maintenance
Aircraft Turnaround Management
Ground Support Equipment Management
Advanced Visual Docking Guidance System (A-VDGS)
E-Fence
Noise Monitoring
Terminal Side
Passenger Screening
Cargo & Baggage Handling
Digital Video Surveillance & Management (DVM)
Passenger Experience
Building Management
Payment & Tokenization
Staff & Crew Management
Landside
Intelligent Advertising
Vehicular Parking
Car Rental & Mass Transit

by Operation

Aeronautical
Non-aeronautical

by Airport Size

Large
Medium
Small

by End-Use

Implementation
Upgrades & Services

Regional Insights:

  • North America: Leads in smart airport development, driven by tech innovation and established aviation hubs.
  • Europe: Emphasizes sustainability and advanced infrastructure, fostering smart airport adoption.
  • Asia-Pacific: Witnessing rapid passenger growth, driving investments in smart terminal solutions.
  • Middle East: Experiencing airport modernization, with significant investments in smart technologies.

Market Key Players

1. Amadeus IT Group SA
2. Ascent Technology, Inc.
3. Cisco Systems Inc.
4. Collins Aerospace
5. Honeywell International Inc.
6. Huawei Investment & Holding Co., Ltd.
7. IBM Corporation
8. Indra Sistemas, S.A.
9. L3Harris Technologies Inc.
10. Raytheon Technologies Corporation
11. Sabre Corp.
12. Siemens AG
13. SITA
14. Thales Group

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Key questions answered in the Smart Airport Market report include:

What is Smart Airport?
What factors drive Smart Airport Market growth?
What are the main challenges for Smart Airport Market growth?
What was the Smart Airport market size in 2023?
Which trends are expected to contribute to Smart Airport market growth?
What recent industry trends can generate additional revenue streams for the Smart Airport Market?
What growth strategies are players considering to increase their foothold in the Smart Airport Market?
Who held the largest market share in the Smart Airport Market?

Key Offerings:

Past Market Size and Competitive Landscape (2021 to 2023)
Past Pricing and price curve by region (2021 to 2023)
Market Size, Share, Size & Forecast by different segment | 2023−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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