Dublin, Oct. 09, 2024 (GLOBE NEWSWIRE) -- The "Smart Airport Market Report by Type, Size, System, Operation, End Market, Application, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global smart airport market size reached US$ 33.9 Billion in 2023 and is forecast to reach US$ 77 Billion by 2032, exhibiting a growth rate (CAGR) of 9.5% during 2023-2032. There are various factors that are driving the market, which include the rising focus on providing seamless and personalized travel experiences to travelers, integration of various advanced technologies, and increasing demand for improved operational efficiency. 
Smart Airport Market Analysis:
- Major Market Drivers: One of the key market drivers include rising air traffic. Moreover, there is an increase in the adoption of green technologies, which is acting as another growth-inducing factor.
- Key Market Trends: The rising focus on enhanced travel experience and integration of advanced technologies are main trends in the market.
- Geographical Trends: North America exhibits a clear dominance, accounting for the biggest market share owing to the strong ecosystem of technology companies, research institutions, and startups.
- Competitive Landscape: Various market players in the smart airport industry report are Amadeus IT Group SA, Ascent Technology Inc., Cisco Systems Inc., Collins Aerospace (Raytheon Technologies Corporation), Honeywell International Inc., Huawei Technologies Co. Ltd., Indra Sistemas S.A., International Business Machines Corporation, Sabre Corp., Siemens AG, T-Systems International GmbH, Wipro Limited, among many others.
- Challenges and Opportunities: High initial investment costs represent a key market challenge. Nonetheless, the rising demand for advanced security solutions, along with partnerships and collaborations among companies, is anticipated to overcome these challenges and offer market opportunities to industry investors.
Technological Advancements
The integration of the Internet of Things (IoT) makes it possible to gather massive amounts of data for monitoring passenger movement and equipment status. Artificial intelligence (AI) is used to handle large volumes of data, support decision-making in real time, and improve operational effectiveness. Additionally, the integration of data analytics systems assists in enabling predictive maintenance and offering insightful data on passenger behavior that helps airports customize their services for optimal impact, thereby supporting the smart airport market growth. As a result, these technologies create an integrated and intelligent system that enhances the capabilities of traditional airports into the realm of smart operations.
On 15 September 2023, Devon-based company Rezcomm, creators of the 'plug-and-play' airport marketplace, harnessed artificial intelligence (AI) technology to optimize airports worldwide, which will transform how passengers travel through airports. Rezcomm's focus is to create a world where AI business solutions provide travelers with a streamlined and efficient journey. Its AI-driven approach will modernize airport operations and how passengers interact with airports and transportation services.
Rising Passenger Expectations
The growing passenger expectations for a seamless and personalized travel experience are offering a favorable smart airport market outlook. These airports aid in meeting these expectations by employing various technologies to provide real time updates on flight status, reduce check-in times through automated kiosks, and assist in navigation via mobile apps. Furthermore, the adoption of facial recognition technology to expedite security processes and customize retail experiences based on individual passenger preferences is influencing the market positively. These technologies not only improve passenger satisfaction but also alleviate stress associated with air travel.
In addition, key players are focusing on catering to passenger expectations for smart technologies, which are providing smart airport market insights. For instance, on 25 April 2023, CGI and Fraport AG partnered to accelerate the airport's digitization under a five-year framework agreement. Fraport AG, one of the world's largest airport operators with business activities at 29 airports on four continents, selected CGI as its digital partner with the aim of further enhancing Frankfurt Airport's user experience and increasing its overall competitiveness through new digital business models and technologies.
Growing Demand for Operational Efficiency
Airports have complex ecosystem with a multitude of operations occurring simultaneously such as luggage handling, flight scheduling, security checks, and retail management. Smart airports utilize data-driven insights to streamline these operations. Furthermore, they use real time monitoring to improve the efficiency of baggage systems, reduce aircraft turnaround time, and optimize resource allocation. In addition, smart airports use predictive maintenance tools to forecast equipment failures before they occur that allow for proactive measures. This improved operational efficiency not only decreases expenditure but also enhances safety, sustainability, and overall performance, thereby catalyzing the smart airport demand.
As a result, top companies are concentrating on improving operational efficiency and sustainability in the aviation industry. For example, on 31 May 2023, Malaysia Airports Holdings Berhad (MAHB), the ground handler of Kuala Lumpur International Airport, commissioned the German provider Materna IPS to provide a state-of-the-art self-bag drop (SBD) solution. Materna IPS system Flex.Go kiosks are equipped with an integrated camera system for automatic conveyability checks and tub detection. With a high degree of accuracy, the shape and dimensions of baggage are measured and used for volume control and classification that assist in maintaining operational efficiency.
Competitive Landscape:
- The smart airport market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the smart airport industry include Amadeus IT Group SA, Ascent Technology Inc., Cisco Systems Inc., Collins Aerospace (Raytheon Technologies Corporation), Honeywell International Inc., Huawei Technologies Co. Ltd., Indra Sistemas S.A., International Business Machines Corporation, Sabre Corp., Siemens AG, T-Systems International GmbH, and Wipro Limited.
- Top players in the market are investing in technologies to enhance the passenger journey. This includes implementing self-service kiosks, mobile apps, and digital signage to provide real time flight information, wayfinding, and personalized notifications to passengers. Additionally, they are focusing on collecting and analyzing data from various airport operations to gain insights into passenger behavior, flow patterns, and operational inefficiencies to make informed decisions and optimize processes.
- Apart from this, major companies are implementing advanced security solutions, including automated security checkpoints, explosive detection systems, and video analytics, to enhance security while minimizing passenger inconvenience. They are collaborating with airlines, technology providers, and other stakeholders to create integrated solutions that enhance the overall airport ecosystem and passenger experience. These initiatives by key players shows smart airport market dynamics.
- Furthermore, on 13 April 2023, GMR Group launched the Robotics Centre of Excellence (CoE) as part of the expansion of GMR Innovex. It will serve as a hub for innovation, research and development (R&D), and collaboration in the field of robotics. The Robotics COE will identify and incubate startups working in the field of robotics and co-develop innovative robotic products for the airport and aviation eco-system. It will drive innovation and provide the necessary infrastructure, a specially designed robotic lab for the robotic startups and drive thought leadership, and collaboration with industry partners.
Smart Airport Market News:
- 16 May 2023: Noida International Airport (NIA) signed an agreement with Amadeus for the provision of a world-class passenger processing system (PPS) including common use check-in, boarding, baggage reconciliation, and DigiYatra enabled biometric capabilities. Under the agreement, Amadeus will design, supply, commission, operate, and maintain the cloud-hosted end-to-end PPS for NIA.
- 7 February 2023: Smiths Detection, a global leader in threat detection and security inspection technologies, has been awarded a contract to supply New Zealand's Aviation Security Service (AvSec) with advanced checkpoint security technology for its five major international airports, Auckland, Christchurch, Dunedin, Queenstown, and Wellington.
- On 30 January 2023: Kyzylorda Airport in Kazakhstan awarded a contract to Alstef Group to design and deploy the baggage handling system (BHS) at its new terminal. Under the contract, Alstef will be responsible for installing the outbound and inbound systems. The outbound system will feature seven-scale and induct check-in conveyors and a collector conveyor, including an outbound conveyor system with Automatic Tag Readers (ATR integration), X-ray screening integration, a new screening room, and a make-up lateral.
Key Questions Answered in This Report
- What was the size of the global smart airport market in 2023?
- What is the expected growth rate of the global smart airport market during 2024-2032?
- What has been the impact of COVID-19 on the global smart airport market?
- What are the key factors driving the global smart airport market?
- What is the breakup of the global smart airport market based on the type?
- What is the breakup of the global smart airport market based on the size?
- What is the breakup of the global smart airport market based on the operation?
- What is the breakup of the global smart airport market based on end market?
- What is the breakup of the global smart airport market based on the application?
- What are the key regions in the global smart airport market?
- Who are the key players/companies in the global smart airport market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 137 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $33.9 Billion |
| Forecasted Market Value (USD) by 2032 | $77 Billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Smart Airport Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Airport 2.0
6.2 Airport 3.0
6.3 Airport 4.0
7 Market Breakup by Size
7.1 Large
7.2 Medium
7.3 Small
8 Market Breakup by System
8.1 Wearables
8.2 LPWAN and WLAN
8.3 Tags and Sensors
8.4 Platforms
8.5 NFC, RFID and Bluetooth
8.6 Wireless
8.7 Others
9 Market Breakup by Operation
9.1 Aeronautical
9.2 Non-Aeronautical
10 Market Breakup by End Market
10.1 Implementation
10.2 Upgrade and Services
11 Market Breakup by Application
11.1 Airside
11.2 Air Traffic Maintenance
11.3 Aircraft Maintenance
11.4 Passenger Screening and Experience
11.5 Digital Video Surveillance and Management
11.6 Building Management
11.7 Intelligent Advertising
11.8 Others
12 Market Breakup by Region
13 SWOT Analysis
14 Value Chain Analysis
15 Porters Five Forces Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Key Players
17.3 Profiles of Key Players
- Amadeus IT Group
- Ascent Technology
- Cisco Systems
- Collins Aerospace
- Honeywell International
- Huawei Technologies Co.
- Indra Sistemas
- IBM
- Sabre Corp.
- Siemens AG
- T-Systems International
- Wipro
For more information about this report visit https://www.researchandmarkets.com/r/vowe86
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