Smart Airports Market By Technology Type (Security Systems, Communication Systems, Passenger, And Others), By Solution Application (Aeronautical Operations, And Non-Aeronautical Operations), And By Region - Global Forecast To 2029
25th July 2019
- find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global smart airports market is estimated to be valued at nearly US$ 13 Bn in 2020 and is projected to register a CAGR of 9.1%. The global smart airports market report has been segmented on the basis of technology type, solution, solution application, and region.
The air transport industry has seen massive growth in the last few decades due to deregulations and regulatory reforms. As the airline sector is becoming more and more economical, the emerging economies are registering a humungous traffic growth, and options in airlines. As this sector is becoming highly competitive, the airports are becoming receptive and responsive to the requirements and demands of passengers. This is giving rise to an innovative R&D focusing on cost reduction accompanied by increased choices and value. Rising passenger air traffic has given rise to smart airport solutions by elevating passenger experience through connected, intelligent, digitized, and personalized solutions. In traditional airports, all the tasks are done manually, and it can be quiet burdensome to keep up with the rising air traffic with these conventional methods. Smart Airports, on the other hand, are based on the concepts of smart cities, buildings, factories, etc. The work is minimized using various methods like communication systems, cargo and baggage handling, security systems, vehicle parking, solutions ground handling, aircraft hangars, air traffic management, the area falling within the airport, and aircraft parking. The other processes in the terminal side segment include staff and passenger notification system, information display system, lighting system, and announcement system. Innovative technologies such as quick response (QR) codes, near-field communication (NFC), augmented reality (AR), and other related services are expanding the potential of smart airports.
Dynamics: Global Smart Airports Market
The tourism sector has witnessed a massive growth aided with increased air travel by tourists for a faster and convenient option. To cope with this increased traffic, conventional airports should be upgraded to smart airports. This factor is a major driver for the smart airports market as it will bolster the market in developed as well as developing nations.
There is an increasing need for using non-conventional energy sources for huge infrastructures like airports, and it will be a driving factor for the smart airports market. The conventional airports use a tremendous amount of energy to run on full scale and hence leave a massive carbon footprint and causing atmospheric pollution. Smart airports implement intelligent technologies using conventional energy sources and reducing the carbon footprint.
Governments of developing as well as developed nations are becoming aware of the increasing pressure on airports due to greater passenger air traffics and are focusing on modernizing the existing airports to smart ones and making new ones. This will fortify the smart airports market.
The growing employment of self-service booths at airports, along with swelling costs accompanied by high energy usage, increases the demand for smart airport solutions.
One of the major concerns is in understanding the different preference of a large number of people travels through flights. Moreover, increasing difficulty in data collection is another factor that can hinder the growth of smart airports.
Orthodox airports in several nations require technological advancements; key challenges for the government establishments are the management problems involved in this process along with carrying out the current operations.
Segment Analysis: Global Smart Airports Market
Analysis, by Technology Type:
The passenger, cargo baggage control segment is estimated to be the most lucrative segment in the global smart airports market with an attractiveness index of 3.2 and is expected to grow by a CAGR of over 10.3%.
Analysis, by Solution:
The terminal side segment is estimated to be the most lucrative segment in the global smart airports market with an attractiveness index of 6.5 and is expected to grow by a CAGR of over 8.6%.
Analysis, by Solution Application:
The aeronautical application segment is estimated to be the most lucrative segment in the global smart airports market with an attractiveness index of 6.7 and is expected to grow by a CAGR of over 8.2%.
Regional Analysis: Global Smart Airports Market
The market in Europe is estimated to account for major revenue share in the target market, followed by the market in North America. The Europe market is projected to register CAGR of over 9.3% over the 10-year forecast period.
Key Developments in the Market by Players:
Cisco Systems Inc. (Year 2019)
- Acquisitions/Mergers/Takeovers; In July, Cisco announced intent to buy Acacia Communications which is an existing Cisco supplier and a public fabless semiconductor company based in Maynard.
- Acquisitions/Mergers/Takeovers; In June, Cisco announced intent to acquire Sentryo, a company based in Lyon, France that provides device visibility and security solutions for industrial control system (ICS) networks.
- Acquisitions/Mergers/Takeovers; In January, Cisco announced intent to acquire Singularity Networks, is a privately-held network infrastructure analytics company.
QinetiQ Group plc (Year 2019)
- Exhibitions/Participation; In July, QinetiQ apprentices Giant Hawker Typhoon Sculpture - Sentinel of the 2019 Chalke Valley History Festival.
- Contracts/Agreements; In June, QinetiQ signs new 5-year contract with the Royal Navy to optimize gunnery training.
- New Product/Services; In May, QinetiQ unveiled world’s first in-its-class Unmanned Air Vehicle (UAV) supersonic target that can be attached to its jet Banshee aerial target and launched during flight.
- Awards/Participation; In May, QinetiQ wins C$51m Contract with the Canadian Armed Forces’ Unmanned Aircraft System Service program.
- Contracts/Agreements; In April, QinetiQ has signed a ground-breaking agreement with the UK Ministry of Defense (MOD) to modernize 16 of the country’s critical defense facilities, firmly positioning the UK as a world-leader in the generation and assurance of military capability.
- Focus; In March, QinetiQ increases focus in Asia Pacific region, opening office in Kuala Lumpur.
- Contracts/Agreements; In March, QinetiQ North America Wins U.S. Army CRS(I) contract for small ground robots.
Global Smart Airports Market Segmentation:
Segmentation by Technology Type:
- Security Systems
- Communication Systems
- Passenger, Cargo & Baggage Handling Control
- Air/Ground Traffic Control
- Endpoint Devices
Segmentation by Solution:
- Air Side
- Terminal Side
- Land Side
Segmentation by Solution Application:
- Aeronautical Operations
- Non-Aeronautical Operations
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Honeywell International Inc.
- United Technologies Corporation (UTC)
- Siemens Aktiengesellschaft (Siemens Logistics GmbH)
- Amadeus IT Group SA
- NEC Corporation
- Damarel Systems International Ltd.
- International Business Machines Corporation
- QinetiQ Group plc
- Cisco Systems, Inc.
- Chapter 1 Global Smart Airport Market Overview
- 1.1 Introduction
- 1.2 Taxonomy
- 1.3 Drivers for Global Smart Airports Market
- 1.4 Restraints for Global Smart Airports Market
- 1.5 Opportunities for Global Smart Airports Market
- 1.6 Trends for Global Smart Airports Market
- 1.7 Macro-economic Factors
- 1.8 Opportunity Orbits
- 1.9 Opportunity Map Analysis
- 1.9.1 Optimistic Scenario:
- 1.9.2 Likely Scenario:
- 1.9.3 Conservative Scenario:
- 1.10 Market Investment Feasibility Index
- 1.11 Pest Analysis
- Chapter 1 Global Smart Airport Market Overview
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