New Delhi, Aug. 26, 2024 (GLOBE NEWSWIRE) -- The global Smart airport market was valued at US$ 35.65 billion in 2023 and is projected to reach US$ 92.46 billion by 2032, at a CAGR of 10.9% during the forecast period of 2024-2032.
The smart airport market is undergoing a significant transformation, driven by key factors like burgeoning air travel demand, technological advancements, and a heightened focus on sustainability. In 2023, global passenger numbers reached 4.7 billion, highlighting the need for airports to enhance operational efficiency. To accommodate this increase, over 500 airports worldwide are undergoing modernization projects that incorporate smart technologies. In addition, the global investment in airport infrastructure surpassed $1 trillion, reflecting a commitment to future-proofing operations. The adoption of Artificial Intelligence (AI) in airports is accelerating, with over 200 airports using AI for automated check-ins and security processes. Meanwhile, the number of airports implementing biometric systems for passenger processing has risen to over 800, enhancing both security and convenience.
Request Sample Report: https://www.astuteanalytica.com/request-sample/smart-airport-market
Trends shaping the smart airport market include an intensified focus on passenger experience, sustainability, and technological integration. Passenger satisfaction scores have become a critical metric, with over 1,500 airports now actively gathering feedback to inform service improvements. In 2023, sustainable practices took center stage, with 350 airports achieving carbon neutrality. The shift towards greener operations is marked by the installation of solar panels in 100 airports and the introduction of electric ground support equipment in 200 airports globally. Moreover, the integration of the Internet of Things (IoT) is becoming commonplace, with IoT devices now deployed in over 600 airports to optimize resource management and streamline processes.
Despite these advancements, the smart airport market faces significant challenges, including high implementation costs, complex regulatory environments, and cybersecurity threats. The average cost for developing smart airport infrastructure is estimated at $150 million, posing a substantial financial challenge for many airports. In 2023, regulatory compliance costs amounted to $500 million globally, as airports navigated a complex web of national and international regulations. Cybersecurity remains a pressing concern, with 70% of airports reporting attempted cyber-attacks within the last year. The International Civil Aviation Organization (ICAO) has emphasized the need for robust cybersecurity frameworks, urging over 100 member states to enhance their defences. As the market evolves, collaboration among stakeholders will be crucial to overcoming these hurdles and realizing the full potential of smart airport technologies.
Key Findings in Smart Airport Market
| Market Forecast (2032) | US$ 92.46 billion |
| CAGR | 10.9% |
| Largest Region (2023) | North America (35.3%) |
| By Component | Infrastructure (44.3%) |
| By Solution | Terminal Solutions (60.2%) |
| By Application | Business Applications (55.7%) |
| By Services | Smart Transportation & Parking (34.8%) |
| By Airport Model | Airport 3.0 (52.5%) |
| By Airport Size | Medium (38.7%) |
| By Airport Operation | Commercial Service Airports (52.5%) |
| Top Trends |
|
| Top Drivers |
|
| Top Challenges |
|
Terminals Solutions Generates over 60.2% Revenue of Smart Airport Market
The demand for smart terminal solutions is expected to grow robustly as airports worldwide continue to adopt digital transformation strategies. The global smart airport market is projected to reach US$ 92.04 billion by 2032, driven by the increased penetration of automated and connected processes. The Asia-Pacific region, in particular, is playing a pivotal role, holding a substantial share of the market due to rapid technological adoption and infrastructure development, with China alone planning to build 220 new airports by 2035. In North America, the introduction of RFID/NFC-based baggage tracking systems and smart security gates is leading the way in terminal innovations, with over 30 major airports having implemented these systems.
Key developments highlight the scale and impact of these transformations: major European airports like Heathrow and Schiphol are investing over USD 1 billion each into terminal upgrades aimed at boosting capacity and efficiency. Additionally, the deployment of AI-based systems is expected to streamline operations significantly, with AI-driven passenger flow management systems already operational in over 50 airports globally. The smart airport market in Europe is the second-largest due to these significant investments, with over USD 10 billion committed to smart technology projects over the next five years.
North America Soars Ahead with Advanced Smart Airport Technologies, Set to Keep Dominating with 35.3% Market Share
North America is strategically positioned to capitalize on the burgeoning smart airport market, driven by its robust infrastructure and technological advancements. The region is home to some of the world's busiest airports, such as Hartsfield-Jackson Atlanta International, which handled over 107 million passengers in 2022, and Los Angeles International, with 88 million passengers. These airports are already integrating smart technologies to enhance efficiency and passenger experience. The Federal Aviation Administration (FAA) supports these advancements with substantial funding, allocating $3.35 billion annually for airport improvements, which includes smart technology integration. Additionally, the U.S. Department of Transportation's Smart City Challenge has spurred innovation, with over $40 million invested in smart transportation solutions, including airport systems.
The North American market benefits from a high level of technological adoption, with airports like Dallas/Fort Worth International implementing biometric boarding and automated security screening systems. The region's airports are also leaders in sustainability, with Denver International investing $1 billion in green initiatives, including smart energy management systems. The presence of major tech companies, such as IBM and Cisco, further accelerates the development of smart airport solutions, providing cutting-edge technologies like IoT and AI for airport operations. Moreover, the region's airports are increasingly using data analytics to optimize operations, with Toronto Pearson International Airport processing over 50 terabytes of data annually to improve passenger flow and reduce wait times.
North America's strategic location and economic strength make it a promising market for smart airport development. The region's GDP, exceeding $25 trillion, supports significant investments in infrastructure and technology. With over 19,000 airports, the U.S. alone offers a vast landscape for smart technology deployment. The Canadian government has also committed $2 billion to modernize its airports, focusing on smart technology integration. As passenger demand continues to grow, with North American airports projected to handle over 1.5 billion passengers by 2030, the region is well-positioned to lead the global smart airport market, leveraging its technological prowess and economic resources to enhance airport efficiency and passenger experience.
Request Free Customization of this report: https://www.astuteanalytica.com/ask-for-customization/smart-airport-market
Highly Consolidated Smart Airport Market: Top 10 Players Capture Over 72% Market Share
The market is an intricate ecosystem predominantly shaped by ten key players who collectively account for a commanding 72% market share. Each of these companies brings its unique strengths, technological prowess, and strategic vision, creating both collaboration and competition. Amadeus IT Group SA and SITA, for instance, leverage their deep-rooted expertise in travel technology solutions, positioning themselves as indispensable partners for airports seeking to enhance passenger experiences through seamless, integrated systems. Their stronghold in reservation systems and airport operations management provides them a competitive edge, particularly in catering to the growing demand for enhanced passenger service innovations.
Siemens, Thales Group, and T-systems differentiate themselves with robust engineering and IT capabilities in the smart airport market, focusing on operational efficiency and security. Siemens, with its prowess in industrial automation, brings cutting-edge technologies to streamline airport logistics and energy management. Meanwhile, Thales Group's emphasis on cybersecurity and aviation safety systems ensures that airports can handle increasing security threats while maintaining operational integrity. T-systems, on the other hand, exploits its telecommunications expertise to advance connectivity solutions, crucial for real-time data integration across airport systems. Together, these companies contribute to creating smarter, more efficient airport infrastructures that cater to the evolving needs of modern air travel.
Honeywell, Collins Aerospace (including Raytheon), SABRE, IBM, and Cisco are pivotal in the technological innovation landscape of smart airport market. Honeywell and Collins Aerospace focus on integrating advanced avionics and surveillance systems, enhancing the safety and efficiency of airport operations. SABRE's strength lies in its comprehensive travel solutions, which complement IBM's advanced AI and data analytics capabilities, offering airports cutting-edge tools for predictive analysis and operational optimization. Cisco’s networking solutions enable the high-speed, secure connectivity essential for the smart airport ecosystem. Collectively, these players are shaping the future of air travel, emphasizing intelligent systems that prioritize passenger experience, safety, and operational efficiency in an increasingly competitive market.
Global Smart Airport Market Key Players
- Adelte
- Ascent Technology Inc.
- Amadeus IT Group SA
- Ansul
- Cisco System
- Collins Aerospace
- Deerns Airport System Consultants
- Daifuku Co., Ltd.
- Sensec Solution AS (Initially DSG Systems)
- FB Technology
- Honeywell International, Inc.
- Huawei Technologies Co., Ltd.
- IBM Corporation
- Indra
- SITA
- Lufthansa Systems GmbH & Co. KG.
- QinetiQ
- RESA
- S.A.S.
- Sabre Corporation
- Selex ES
- Siemens AG
- T-Systems
- Thales Group
- Vanderlande Industries
- Vision-Box
- Wipro Limited
- Zensors
- Other Prominent Players
Market Segmentation Overview:
By Component
- Infrastructure
- Solutions
- Applications
- Services
By Infrastructure
- Endpoint Devices
- Sensors
- Tags
- IP Phone
- Video Conferencing (Audio/ Video)
- Communication Systems
- Wireless Airports
- Smartphones
- Near Field Communication
- Social Media
- Passenger, Cargo and Baggage Ground Handling Control
- IoT Enabled Beacons
- Robots for Passenger and Baggage Movement
- Common-use Self-service (CUSS) Kiosks
- RFID Baggage Reconciliation System
- E-Gates
- Air/Ground Traffic Control
- Smart Systems & Scalable Air Traffic Management Solutions (ATM)
- Automated Passport Controls
- Security Systems
- Biometrics
- Alerts & Cybersecurity
- E-Fence & Ground Surveillance Radar
- E-Tag System
- Others (Navigational, Landing Aids, Digital Signage, Airport Management Software)
By Solutions
- Terminal Side
- HVAC
- Lighting Control
- Digital Video Surveillance and
- Management (DVM)
- Fire and Life Safety Solutions
- Energy Management
- Life Cycle Services
- Building Management and Automation Systems
- Air Side
- Advanced Visual Docking Guidance System (A-VDGS)
- Airfield Ground Lighting (AGL)
- Surface Movement Guidance
- Runway Improvement and Apron Management
- Digital and Radar Video Surveillance
- Landside
- Parking
- Access Roads
- Perimeter Security
- Car Rental
- Mass Transit
- Airport City
By Application
- Core Applications
- Content Management
- Business Intelligence
- Next-Generation Web
- Collaboration
- Integration
- Business Applications
- Noise Abatement
- Fee Management
- Performance Management
- Gate Management
By Services
- Smart Transport & Parking Services
- Real-time Travel Services
- Intelligent Transport Services
- Trip Concierge
- Smart Retail, Hospitality & Entertainment Services
- Passenger-Specific Retail and Hospitality
- Intelligent Advertising
- Lean Retail Solutions
- Telepresence Rooms
- Smart Workplace Services
- Equipment Telematics Solutions
- Mobile Worker and Expert Locator
- Smart Airport Processes
- Location-Based Services
- RFID Baggage Tagging
- No-queue Check-in Solutions
- Smart Business to Business Services
- Traffic and Facilities Management
- Smart Supply-Chain and MRO Services
By Airport Model
- Airport 2.0
- Airport 3.0
- Airport 4.0
By Airport Size
- Small
- Medium
- Large
By Airport Operation
- Commercial Service Airports
- Cargo Service Airports
- General Aviation Airports
By Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
Inquire Before Buying This Research Report: https://www.astuteanalytica.com/inquire-before-purchase/smart-airport-market
About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
Contact Us:
Astute Analytica
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
For Sales Enquiries: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/
LinkedIn | Twitter | YouTube
