North America to Dominate Smart Airport Market due to Presence of Leading Market Players in the Region
The global smart airport market is expected to exhibit a strong CAGR of more than 6% over the forecast period from 2018 to 2025, according to the latest research report from Market Research Future (MRFR). The global smart airport market is profiled in great detail in the research report, providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects.
The historical stats of the smart airport market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory. The historical stats provided in the report also give analysts a solid platform to base future projections about the market. Based on this platform, future projections for the smart airport market’s growth trajectory over the forecast period are provided in the report. The leading players in the global smart airport market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global smart airport market. The major drivers and restraints affecting the global smart airport market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back.
Smart airport technology includes various avenues of technology that enhance the airport experience for customers. The introduction of digital technology has been a gamechanger for the aviation sector, as it has enabled various technologies that help make the airport experience more convenient and comfortable for airline customers. The increasing demand for a streamlined and convenient airport experience from customers is likely to be a major driver for the global smart airport market over the forecast period. The increasing adoption of green initiatives by airport authorities all over the world has also been a major driver for the global smart airport market over the forecast period.
Leading players in the smart airport market include Amadeus IT Group SA, Larsen & Toubro, Kiewit, Raytheon Company, Cisco Systems Inc., IBM Corporation, Siemens AG, SITA, Collins Aerospace, and Honeywell Corporation Inc.
The global smart airport market is segmented on the basis of technology, application, terminal type, airside, landside, and region.
By technology, the global smart airport market is segmented into security systems, communication systems, cargo and baggage handling control, air/ground traffic control, passenger, endpoint devices, and others. Security systems are likely to remain an important part of the global smart airport market over the forecast period, as airport security protocols have become increasingly stringent over the last few decades. Since 9/11, airport authorities have invested significant amounts in security services in order to eliminate the risk of hijacking and other illicit activities. This is likely to remain a major driver for the security systems segment over the forecast period.
By application, the global smart airport market is segmented into aeronautical and non-aeronautical operations. The aeronautical operations segment dominates the global smart airport market at present. However, the non-aeronautical operations segment is likely to grow at a rapid growth rate over the forecast period due to the increasing investment in non-aeronautical operations at airports.
By terminal type, the global smart airport market is segmented into baggage handling, check-in systems, building operations, and sustainable energy management. The sustainable energy management segment is likely to exhibit steady growth over the forecast period due to the growing investment in the field.
By airside, the global smart airport market is segmented into ATM, resource management, aircraft parking, aircraft maintenance, and others.
By landside, the global smart airport market is segmented into vehicular parking, security, and intelligent advertising.
North America is expected to dominate the global smart airport market over the forecast period due to the growing investment in smart airport technologies in the region. Many leading companies in the smart airport market are also situated in North America, particularly the U.S., leading to easy distribution of advanced smart airport technologies in the region.