Smart Airports Market Infographics Description:
- The global smart airports market is estimated at US$ 13,424.7 Mn in 2020.
- The worldwide smart airports market is projected to reach US$ 29,354.6 Mn in 2029 at a CAGR of 9.1% from 2021 to 2029.
- Among all the technology segments, the security systems segment in the global smart airports market is expected to register the highest CAGR of over 11.9%, followed by passenger-cargo baggage control.
- Amongst solution segments, the terminal side segment in the global smart airports market is estimated to account for a majority revenue share of 54.7% in 2020 end, followed by airside.
- Amongst solution application segments, the aeronautical application segment in the global smart airports market is estimated to account for a majority revenue share of 58.4% in 2020 end, followed by non-aeronautical applications.
- Market in Europe is expected to dominate the global smart airports market, followed by the North America region. It is expected to account for the largest market revenue share as compared to that of markets in other regions.
- Companies profiled in the report are United Technologies Corporation (Collins Aerospace), Honeywell International Inc., SITA, Siemens Aktiengesellschaft (Siemens Logistics GmbH), Amadeus IT Group SA, NEC Corporation, Damarel Systems International Ltd., International Business Machines Corporation, QinetiQ Group plc, Cisco Systems, Inc., Airport Information Systems Limited, Pacific Controls, ISO-Gruppe and others.
Report Overview
Smart airports represent a significant advancement in airport technology and operations. These airports harness advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud computing to enhance the efficiency and safety of airport operations, streamline passenger experiences, and increase overall airport productivity. This integration allows airports to manage resources and handle increased air passenger traffic more effectively, driving the demand for innovations in this space.
Several factors are propelling the smart airports market. The primary drivers include the growing demand for real-time information, an increase in self-service technologies, and heightened security concerns at airports. These elements are crucial in supporting the market’s expansion as they directly improve operational efficiency and passenger satisfaction. Additionally, the rise in global air travel is pushing airports to adopt more sophisticated and scalable solutions to handle increased passenger volumes effectively.
The smart airport market is witnessing a surge in demand due to the increasing number of air travelers and the necessity for airports to update their operational infrastructure. Opportunities in this market are vast, with significant investments in AI, biometric systems, and automated solutions that promise to transform traditional airport operations into more agile and passenger-friendly environments. Technological advancements provide a pathway for airports to enhance security measures, reduce operational delays, and improve the overall travel experience, creating a competitive and innovative market landscape.
Smart Airports Market Scope and Estimation (2023-2033)
- The global smart airport market is projected to gain momentum as it continues its rapid growth trajectory. The market size, valued at approximately USD 17.3 billion in 2023, is anticipated to reach an impressive USD 36.2 billion by 2032, reflecting a robust CAGR of 8.8% between 2024 and 2033.
- Passenger Cargo Baggage Control emerged as a key segment in 2022, commanding over 34.6% of the market share, driven by increasing adoption of automated solutions to enhance efficiency.
- The Airside segment also dominated in 2022, securing more than 44.3% of the market, fueled by advancements in air traffic management and runway optimization technologies.
- The Non-aeronautical segment held a strong position, leveraging innovative revenue streams like retail, parking, and hospitality services within airport premises.
- North America led the market in 2022, capturing over 35.9% share, with revenues exceeding USD 5.7 billion. This dominance can be attributed to early adoption of smart technologies and substantial investments in airport modernization projects.
Driver
Increasing Adoption of Advanced Technologies
The smart airports market is significantly driven by the increasing adoption of advanced technologies such as Artificial Intelligence (AI), the Internet of Things (IoT), and automation. These technologies are revolutionizing airport operations by enhancing the efficiency and effectiveness of resource management, security protocols, and passenger handling services.
For example, AI is used to predict equipment maintenance needs and optimize scheduling, while IoT devices facilitate seamless communication between various operational components. This technological integration not only improves operational efficiency but also elevates the passenger experience by reducing wait times and streamlining airport processes.
Restraint
High Capital Investments
One major restraint facing the smart airports market is the substantial initial investment required to implement advanced technological solutions. The costs associated with upgrading existing infrastructure, integrating complex systems, and maintaining new technologies can be prohibitively high. This financial barrier is particularly challenging for smaller or less financially robust airports. Moreover, the integration of these systems often requires significant downtime and disruption, which can further escalate costs and complicate the transition to smart technologies.
Opportunity
Expansion in Emerging Markets
Emerging markets present significant growth opportunities for the smart airports sector. As air travel demand increases in these regions, there is a pressing need to modernize and expand airport infrastructure to handle the growing passenger and flight volumes efficiently. Countries in regions such as Asia Pacific and the Middle East are rapidly adopting smart airport solutions to improve their operational capabilities and enhance passenger experiences. This trend is driven by the rising middle class, increased urbanization, and supportive government policies aimed at boosting tourism and business travel.
Challenge
Security and Privacy Concerns
A key challenge in the implementation of smart airport technologies is addressing the security and privacy concerns associated with digital and automated solutions. As airports become more connected, they are also more vulnerable to cyber threats, including data breaches and ransomware attacks. Additionally, the use of biometric data and personal information raises privacy issues, necessitating robust cybersecurity measures and compliance with international data protection regulations. Ensuring the security of these technologies while maintaining user privacy remains a critical obstacle that airports must navigate to fully leverage the benefits of smart technologies
Top Key Players in the Market
- Amadeus IT Group SA
- CISCO System Inc
- Collins Aerospace
- Daifuku Co. Ltd.
- Ascent Technologies
- Honeywell International Inc.
- Huawei Technologies Co. Ltd
- IBM Corporation
- Indra Sistemas S.A.
- ITA
- L3Harris Technologies Inc.
- Raytheon Company
- RESA, Rockwell Collins Inc.
- Lufthansa Systems GmbH & Co. KG.
- Sabre Corporation
- Siemens AG
- SITA
- Thales Group
- T-Systems
- Vision-Box
- Wipro Limited
- Ascent Technology Inc.
- Amadeus IT Group
- Huawei Investment & Holding Co. Ltd.
- Ascent technology, inc.
- Other Key Players
