Pune, India, June 26, 2023 (GLOBE NEWSWIRE) -- The global smart airport market size was valued at USD 2.29 billion in 2022 and is projected to grow from USD 4.05 billion in 2023 to USD 11.56 billion by 2030, exhibiting a CAGR of 16.1%. Fortune Business Insights™ mentioned this in a report titled “Smart Airport Market, 2023-2030.” The increasing need for real-time data is propelling the growth of the market. The main growth drivers comprise of development in commercial aviation, upgrading of previous airports, the launch of new airports, and growth in the number of green initiatives by the airports.
Get a Free Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/sample/smart-airport-market-101799
List of Key Players Present in the Smart Airport Market Report:
- SITA (Switzerland)
- Huawei Technologies Co., LTD. (China)
- Smart Airport Systems (SAS) (France)
- Infax, Inc. (U.S.)
- IBM Corporation (U.S.)
- Honeywell International Inc. (U.S.)
- Thales Group (France)
- Daifuku Co., LTD. (Japan)
- Siemens AG (Germany)
- Amadeus IT Group SA (Spain)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 16.1%. |
| 2030 Value Projection | USD 11.56 billion |
| Market Size in 2023 | USD 4.05 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 180 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Smart Airport Market Growth Drivers | Growing Air Passenger Traveling in Developed Countries to Boost Growth |
| Rising Focus on Customer-Centric Approaches to Propel Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/smart-airport-market-101799
COVID-19 Impact:
Decline in Passenger Travel and Lockdown Implemented in Various Regions
Since the sudden outbreak of COVID-19 in December 2019, the virus has spread in more than 100 countries and impacted the smart airport market growth negatively. Due to the strict regulations imposed by the government on people’s movement, the market has witnessed a negative impact. Numerous airlines and other aircraft witnessed reduced passenger traffic. Hence, the market’s growth has slowed down due to the pandemic.
Segmentation:
Growing Demand for AI-based Systems to Impel Growth of Terminal Side Segment
On the basis of application, the market is segregated into data visualization, AI/ machine learning, cyber security, anomaly detection, asset/resource management, and others. The AI/machine learning segment is projected to dominate the market and grow with the highest CAGR during the projected period.
Rise in Demand for Advance Hardware Systems in Airports for Various Applications to Drive the Segment Growth
As per the platform, the smart airport market share is divided into hardware systems, data management, and software systems. The hardware segment is projected to hold the largest share during the projected period. The software systems segment will show subsequent growth during the forecast period.
Airport 3.0 Segment to Hold the Largest Share Due to the Increase in Adoption in North America Region
According to the airport model, the market is divided into Airport 1.0, airport 2.0, airport 3.0, and Airport 4.0. Airport 3.0 is anticipated to drive market growth during the projected period, whereas Airport 4.0 is anticipated to grow with the highest CAGR during the projected period.
Get a Quote Now:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/smart-airport-market-101799
Report Coverage-
This report covers the synopsis of this market that provides the market analysis, knock of COVID-19, segmentation, drivers, regional insights, competitive landscape, new growth, and presence of achievers in the market. Changes in the market are subjected to demand changes in the forecast period.
Drivers & Restraints-
Increasing Air Passenger Travelling Developed Countries to Drive Growth
The growing preference for air travel globally is expected to drive the market's growth. In the next ten years, more than 44% of air passenger traffic is anticipated to come from India and China. Governments in their developed countries are looking forward to investing more in smart airports and green airports initiatives to reduce the adverse effects on the environment. Automated and advanced security systems make easy the process of boarding at airports. The security systems involve the high costs of developing and implementing digitalized systems, and design at the airports would restrain the market growth.
Regional Insights-
North America to Hold the Largest Share in the Market Growth
North America is predicted to hold the largest share in the market growth and will continue to dominate during the projected period. Increasing investments in R&D and the growing number of companies will augment market growth.
Europe’s autonomous aircraft market share is anticipated to elevate significantly during the projected period owing to the rising demand from the military sector for combat operations and surveillance applications.
Asia Pacific will witness the fastest growth in the market owing to an increase in the expenditure on developing advanced next-generation products from emerging economies such as India, China, and others.
The Middle East & Africa, and Latin America show moderate growth due to the development of infrastructure for autonomous aircraft.
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/smart-airport-market-101799
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Global Smart Airport Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Platform
- Hardware Systems
- Data Management
- Software Systems
- Others
TOC Continued…!
Speak to Our Expert:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/smart-airport-market-101799
Competitive Landscape-
Increasing Collaborations of Key Companies and Government Agencies to Drive Growth
The key players in the market such as Honeywell International Inc., Thales Group, Raytheon Technologies Inc., Cisco Systems, Collins Aerospace, and others. These companies focus on developing and designing advanced autonomous eco-friendly solutions for airports. They are actively participating in collaborating with the government authorities to make smart airports in the respective countries. Furthermore, European agencies have been dynamically designing airports in a decade.
Read Related Insights:
Reusable Launch Vehicle Market to Be Worth USD 5.41 Billion By 2030; Increased Usage of High Payload Rockets to Drive Market Forward
LiDAR Drone Market is projected to grow USD 455.0 million by 2028, at a CAGR of 17.98%
Aero Wing Market Size to grow USD 20.35 billion in 2028 with exhibiting a CAGR of 8.98%
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner,
Mahalunge Road, Baner, Pune - 411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Follow Us: LinkedIn | Facebook | Twitter
