Pune, Aug. 04, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report indicates that the Smart Airports Market was valued at USD 7.2 billion in 2022, with an anticipated growth to reach USD 9.34 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.32% during the forecast period spanning from 2023 to 2030.”
Market Report Scope
Smart airports are modern and technologically advanced aviation facilities that leverage cutting-edge technologies to enhance the overall airport experience for passengers, airlines, and airport operators. These intelligent airports integrate various digital solutions, automation, and data-driven processes to improve operational efficiency, safety, security, and passenger satisfaction.
Market Analysis
The smart airports market is poised for remarkable growth in the coming years, driven by advancements in IoT and connectivity, a relentless focus on passenger experience, digital transformation in aviation, heightened security concerns, environmental sustainability, and substantial government support. As airports continue to evolve into technologically advanced hubs, travelers can look forward to a seamless and delightful journey, while the aviation industry benefits from increased operational efficiency and profitability. Embracing these growth drivers will pave the way for a new era of smart airports that revolutionize the way we travel.
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Major Players Included in this Report are:
- Cisco Systems Inc.
- Raytheon Technologies Corporation
- SITA
- Thales Group
- Ascent Technology, Inc.
- Indra Sistemas, S.A.
- L3Harris Technologies Inc.
- Huawei Investment & Holding Co., Ltd.
- International Business Machine Corporation
- Honeywell International Inc & Other Players
Impact of Recession on Smart Airports Market Growth
While a recession can pose challenges for the smart airports market, it also presents opportunities for innovation and adaptation. By offering flexible financial models, emphasizing tangible benefits, focusing on cost reduction and efficiency, and enhancing passenger experiences, stakeholders in the market can weather the storm of economic downturns. As the aviation industry strives for recovery and growth, embracing smart technologies remains a pivotal step toward building a resilient and future-ready air travel ecosystem.
Impact of the Russia-Ukraine War
Yhe Russia-Ukraine War has left its mark on the smart airports market, presenting both challenges and opportunities. While regional disruptions and geopolitical uncertainties may temporarily slow down certainly projects, the increased focus on security solutions, technology innovations, and global connectivity diversification could drive the adoption of smart airport technologies in the long run. It is essential for stakeholders in the industry to remain agile and adaptable to navigate through these turbulent times successfully.
Smart Airports Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 7.2 Billion |
| Market Size by 2030 | US$ 9.34 Billion |
| CAGR | CAGR of 3.32% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Smart Airports Market: Key Segmentation | • By Type (Airport 2.0, Airport 3.0, Airport 4.0) • By Application (Aeronautical Operations and Non-aeronautical Operations) • By System (Communication & Network Systems, Endpoint Devices, Data Storage, and Software & Solutions) • By End User (Implementation and Upgrades & Services) • By Location (Land-side, Air-side, and Terminal Side) |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Regional Developments
The smart airports market is experiencing dynamic growth across different regions, with each area exhibiting unique characteristics and priorities. Factors such as technological advancements, regulatory support, passenger demands, and the overall development of the aviation industry are influencing the pace of adoption. As airports continue to evolve into intelligent and interconnected hubs, the market is expected to witness further advancements and innovations worldwide.
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Key Takeaway from Smart Airports Market Study
- As the aviation industry continues to evolve, smart airports are reshaping the landscape with their data-driven, technology-enabled capabilities. The Data Storage Segment and Air-Side Segment are poised to dominate the market, providing the necessary infrastructure and efficiency enhancements required for seamless airport operations.
- The integration of these segments, along with strong partnerships and collaboration, will unlock the full potential of smart airports, offering a travel experience that is safer, smoother, and more enjoyable for passengers worldwide.
Recent Developments Related to Smart Airports Market
- In a bold move to revolutionize air travel security and passenger convenience, Riyadh Airports Company has commenced trials of cutting-edge facial recognition technology at King Khalid International Airport (KKIA).
- In an unprecedented collaboration, Trip.com Group, Asia's leading online travel platform, has teamed up with Cambodia Angkor Air, the national flag carrier of Cambodia, to revolutionize air travel by building the continent's first-ever smart airport.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Smart Airports Market, by Type
9. Smart Airports Market, by Application
10. Smart Airports Market, by System
11. Smart Airports Market, by End User
12. Smart Airports Market, by Location
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. USE Cases and Best Practices
17. Conclusion
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SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
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