Luton, Bedfordshire, United Kingdom, March 17, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Smart Airport Market.
The global smart airport market was valued at 7.30 billion in 2022, and is projected to reach 9.35 billion by 2029, growing at a CAGR of 3.5% from 2023 to 2029.
Smart Airport Market Growth in upcoming years
Smart Airport growth is expected to be driven by new buildings, more passengers and better accessibility. The Smart Airport growth in upcoming years will create new possibilities for travelers and airports that they have never experienced before. As the number of airports grows and more people take to the sky, we believe that there is a need for better solutions to manage aircraft landings, departures and other aspects of airport operations. Smart Airport will bring innovations to help improve air travel efficiency by using AI and blockchain technology. Smart Airport is evolving to better serve the needs of its customers, with more features, new products and added value. We're working with our airport partners to continue to make sure that you can access up-to-date information on what each terminal has to offer and how best to travel between them.
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Smart Airport Market Driving Forces
- Growing desire for real-time data reduces
- Development of additional airports
Smart Airport Market Trends
The market was dominated by the passenger, cargo and baggage, and ground handling segments.
The passenger, cargo and baggage, and ground handling segments currently hold the majority of the market share, and this is anticipated to continue throughout the forecast period. The rapid increase in passenger traffic has increased the pressure on airport operators to increase passenger handling capacity and incorporate digital solutions to control passenger flow, cargo, and baggage handling capabilities at airports. In May 2022, for example, Veovo collaborated with Aeropuertos Argentina 2000, an airport operator in Argentina, to incorporate new passenger flow solutions at Aeroparque Jorge Newbery (AEP) and Aeropuerto Internacional Ezeiza. (EZE). To optimize operations and improve passenger flow, the business implemented Veovo's Passenger Predictability solution, an AI-powered cloud software.
Competitive Insight
Some of the notable market players operating in the global Smart Airport Market covered in this report is:
- Collins Aerospace
- Siemens
- Thales Group
- Ascent
- Daifuku Co., Ltd.
- T-Systems International Gmbh.
- Wipro Limited
- Zensors
- Infax, Inc.
- Ibm
- Amadeus It Group Sa
- Honeywell International Inc.
- Sita
- Cisco
- Huawei Technologies Co., Ltd. *The Company List Is Indicative
Recent Developments
10 January 2023: China Southern and Collins Aerospace agreed to provide air materiel support services. Collins Aerospace is extending its long-standing support contract for the Boeing 787 fleet operated by China Southern. The added contract expands upon the current DispatchSM flight hour support contract for the avionics installed in the airline’s aircraft.
8 December 2022: NASA received fresh spacesuits from Collins Aerospace for flights to the International Space Station. Collins’ next-generation suit is smaller and lighter to increase astronaut comfort, efficiency, and range of motion. It has an open architecture design that enables the suit to be quickly updated as missions evolve or become more complex and is made to fit almost any body shape.
Browse the full “Smart Airport Market by Application (Landside, airside, Terminal side), By Airport Size (Large, Medium, Small), Airport technology (Airport 2.0, Airport 3.0, Airport 4.0) and by Region, Global trends and forecast from 2023 to 2029” Report and TOC at https://exactitudeconsultancy.com/reports/13602/smart-airport-market/
Segment Overview
The Smart Airport market is segmented By Application, By Airport Size, and By Airport Technology.
| By Application | By Airport Size | By Application |
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To learn more about this report, request a free sample copy
Regional Insights
North america is expected to have the greatest rate of growth in the smart airport market.
In North America Smart airport market accounted for largest revenue share in 2020. The effort to improve airport operations is driving investments in smart airports. Use of Some megatrends like artificial intelligence (AI), internet of things (IoT), and Virtual Reality (VR) and Augmented Reality (AV) in airport operations has the potential to advance efficiency and transparency. Presence of key smart solution providers like IBM Corporation, Collins Aerospace, and Honeywell International Inc. is also expected to fuel market growth in North America.
Quantitative Analysis
- Market size, estimates, and forecasts from 2023 - 2029
- Market size and revenue estimates for product up to 2029
- Market revenue estimates for application up to 2029
- Market revenue estimates for type up to 2029
- Regional market size and forecast up to 2029
- Company financial
What are the Key Data Covered in this Smart Airport Market Report?
- CAGR of the market during the forecast period 2023-2029
- Detailed information on factors that will drive Smart Airport Market growth during the next Six years
- Precise estimation of the Smart Airport Market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour.
- The growth of the Smart Airport industry across North America, Europe, APAC, South America, the Middle East, and Africa
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of Smart Airport Market vendors
To know an additional revised 2023 list of market players, request a sample report: https://exactitudeconsultancy.com/reports/13602/smart-airport-market/#request-a-sample
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