Hyderabad, Aug. 08, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "North America Smart Airport Market Report (2023-2028)," the market is estimated at USD 443.84 million in 2023. It is expected to register a CAGR of 13.48% during the forecast period.
Smart airports are becoming the future of airport operations, adapting modern technologies to handle increased air travel demand. They employ various technologies to improve efficiency, like smart baggage tags, biometric check-ins, and cargo warehousing management. Automation and technologies like AI and predictive analysis are changing how airports operate, from customer service to operational efficiency. More people are traveling by air, putting pressure on airports to adopt advanced systems for better efficiency. These systems reduce manual work, speed up operations, and minimize negative environmental impact.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 443.84 million |
| Market Size (2028) | USD 835.27 million |
| CAGR (2023-2028) | 13.48% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The increasing number of air travelers. |
| Automation and technologies like AI and predictive analysis |
Who are the Top Companies in the North America Smart Airport Market?
The market is highly consolidated in nature, with few players holding significant shares. The stringent safety and regulatory policies in the aviation sector are expected to restrict the entry of new players. Economic downturns can adversely affect market dynamics. Business uncertainty may be enhanced by failures or delays in obtaining licenses and certifications. Players need to diversify themselves in different geographical markets to ensure profitability and survival in the long run.
The significant players in the North American smart airport market are,
- Amadeus IT Group SA
- Cisco Systems Inc.
- Honeywell International Inc.
- IBM Corporation
- Raytheon Technologies Corporation
- Sabre GLBL Inc.
- Siemens AG
- SITA
- THALES
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Key Highlights from the North America Smart Airport Market Report:
Air and Ground Traffic Control Segment to Show Remarkable Growth
- The rising air traffic has pushed airports in North America to become adaptable, proactive, and interconnected to handle changes in the aviation industry.
- Airports are evolving into hubs for passengers and are focusing on digitally aware systems that connect all stakeholders and are intelligent.
- The air and ground traffic control segment is expected to grow due to increased spending on modernizing airports and using advanced systems for airport operations in the United States and Canada.
United States to Dominate the Market
- The United States has the most airports in the region and holds the highest market share in the North American smart airport market due to increased investment in the aviation sector.
- Airports are upgrading their operations with IoT-powered systems to handle growing passenger traffic and ensure smooth operations and customer satisfaction.
- The construction of new airports and technological advancements in existing ones to enhance passenger experience are expected to drive the market's growth in the United States in the coming years.
What are the Latest Developments in the North America Smart Airport Market?
- In February 2023, Leidos was awarded a contract by the US Transportation Security Administration (TSA) to upgrade TSA’s full fleet of provision advanced imaging technology (AIT) systems used at airport security checkpoints with a new artificial intelligence (AI)-based algorithm.
- In March 2022, Thales received a contract from the airport management group SEA (Società per azioni Esercizi Aeroportuali) to deliver an innovative digital platform solution that will support the group in enhancing operational efficiency.
Mordor Intelligence has Segmented the North America Smart Airport Market Based on Technology, Airport Location, and Country
- By Technology (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Security Systems
- Communication Systems
- Air/Ground Traffic Control
- Passenger, Cargo & Baggage Control, and Ground Handling Systems
- By Airport Location (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Landside
- Airside
- Terminal Side
- By Country (Market Size and Forecast based on Value (USD billion), 2018-2028)
- United States
- Canada
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the North America Smart Airport Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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