Smart Airport Market: Global Industry Analysis and Forecast (2022-2029)

Smart Airport Market was valued at US$ 3.86 Bn in 2021. The Smart Airport Market size is estimated to grow at a CAGR of 18.24 % over the forecast period.
Smart Airport Market Overview:
Smart Airport market is rising because aviation industry is now implementing AI, IoT and more innovative technologies in aviation to give the customer better experience. By using these technologies aviation industry can cut expenses and more productivity which will also help in evolving infrastructure and enormous growth in this sector.



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The report explores the Smart Airport Market's segments. Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Smart Airport Market’s drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Smart Airport Market's contemporary competitive scenario.
Smart Airport Market Dynamics:
Nowadays airports use a variety of digital technology, including self-service kiosks, baggage tracking, and flight information shared via social media sites like Twitter. To provide customers with improved experiences, airports are adopting cutting-edge technology more frequently. By offering a variety of technology-based solutions to their customers, many airports aim to increase the personalization of their current services. This is because a lot of people use their smartphones to look for information about other flights. An existing well-known mobile-based service is flight finding. However, it is also anticipated that information updates on baggage and customer service would play a significant part in resolving the majority of travel-related issues at airports. In the future, beacons and kiosks are also anticipated to be crucial, offering a customized experience to passengers.

The growth of the market is believed to be significantly influenced by the Internet of Things (IoT). Airport IoT applications include automatic check-in, facilities management, luggage systems, and aircraft booking management. The technology also makes airport security more effective. The demand for real-time information to lessen the workload of airport workers and operators is another factor driving market expansion.

Growing passenger and business travel around the world is prompting airport businesses to become more adaptable, entrepreneurial, and proactive in response to shifting aviation dynamics and client needs. This is one of the key factors that is favorably affecting the need for smart airport solutions to better serve the needs of travelers. These solutions include automated immigration procedures, digital wayfinding, health monitoring system, luggage scanning, and weighing, health monitor systems, etc. Facial recognition at checkpoints is also included in this list. Passengers can access system-generated alarms and notifications, robots for remote repair, and on-demand self-service using these applications. Additionally, the incorporation of artificial intelligence (AI) into smart airports encourages the management of waste, water, emissions, and energy, which aids airports in obtaining certification of carbon neutrality.

Govt. in some countries helping those private companies which are associated with the aviation industry in building smart infrastructure which will attract more customers to travel by air and will also give them a better travel experience which is the major factor in growing this industry.

The aviation industry is driving the use of smart technologies due to the rising demand for renewable energy sources. Because airports use a lot of electricity, their pollution and carbon footprint are therefore increased. However, the use of smart technologies aids in the decrease of pollution by utilizing renewable energy sources. Additionally, the creation of new airports, the refurbishment of older airports, and developments in commercial aviation all contribute to the market's expansion.

To apply the appropriate technology for various applications, there must be a significant availability of skilled and experienced employees. Only then will there be a higher acceptance of modern systems in the aviation business. Additionally, managing AI and automated systems can be challenging and call for great software engineering skills, notable experience with dealing with distributed and concurrent programming and knowledge of communication protocol debugging. However, there aren't enough people with these talents in many places, especially in emerging economies. Therefore, one of the key challenges limiting the market's growth is a lack of skilled labor.

When it comes to identifying speech, photos, and faces, AI-powered robots have surpassed humans. AI is being used at smart airports to enhance important customer experience areas, which will lower costs, increase efficiency, and increase customer satisfaction. AI chatbots have successfully replaced customer care in several areas, responding to inquiries and requests in a very quick and efficient way. With the freedom to quickly adapt airport services to emerging needs for a safer, more socially isolating, and contactless airport experience, cloud computing gives airports the chance to change how they serve customers. So, throughout the forecast period, it is also anticipated that rapid advancements in robust and economical cloud computing infrastructures will have a significant impact on the growth potential of the global smart airport market.

Blockchain technology rules and standards, as well as privacy issues over personal data, are projected to hinder market expansion. The market for smart airports is anticipated to face challenges from challenges in data sharing, sluggish integration, and resistance to change in the aviation industry.

COVID-19 Impact on Smart Airport Market:

The airport industry has been severely impacted by the economic downturn and government-imposed travel restrictions due to the COVID-19 outbreak. In order to stop the virus's spread, some airlines have drastically decreased capacity over the previous few months, drastically decreasing air traffic. The deployment of smart airport technologies may face difficulties as a result of the large decline in airport traffic and revenue.

Despite the pandemic's impact on flight volumes, the introduction of cutting-edge technologies and a strong focus on automation at airports may help the smart airport business pick up steam. Biometric technology has become a major priority for airport investment, with 64 percent of airports planning to provide self-boarding gates that accept ID and biometric paperwork by the 2024.
Smart Airport Market Segment Analysis:
Based on Type, the airport 2.0 Segment is dominating the market with the highest CAGR during the forecast period. It is owing to the rise in the demand for smart airports and the huge demand for AI and IoT systems and equipment. Airport 4.0 is expected to grow.



Based on Application, the Airside segment is dominating the market with highest CAGR during the forecast period. Smart apps have become more widely used for airside activities in recent years. Airports have the ability to significantly cut passenger wait times and address some of the most common concerns, such lost bags, flight delays, and customer service problems, by integrating IoT, AI, and big data efficiently.

Based on Airport Size, Large segment is dominating the market with highest CAGR during the forecast period. Airports must modernize and use smart systems to support efficient airport operations in light of rising air traffic. Since there are many medium airports around the world, they are currently dominating the market. To alleviate delays and customer wait times, these airports urgently need to install self-service check-in kiosks and baggage drop boxes. Self-service check-ins are the only intelligent solutions that can be installed in tiny airports.

Based on Operation, Non-aeronautical segment is dominating the market with highest CAGR during the forecast period. Non-aeronautical revenues pay crucial role here. Due to covid-19 it was in huge loss but again this sector is growing.
Smart Airport Market Regional Insights:
The North America region dominated the market with xx % share in 2021. The North America region is expected to witness significant growth at a CAGR of xx% through the forecast period. In North America, the US dominates the market for smart airports. Investments in smart applications are being driven by the desire to optimize airport operations. IoT, AI, and AV VR deployment have the ability to improve airport operations and deliver transparency. The demand for the integration of IoT technology is driven by the fact that North America has the most airports worldwide. Along with the area's numerous airports, the market in this area is anticipated to be driven by the presence of significant smart solution providers like Collins Aerospace, IBM Corporation, and Honeywell International Inc.

Germany is anticipated to hold the highest market share in the Europe smart airport market in 2022, with Europe likely to hold the second-largest part of the global smart airport market. Frankfurt and Munich Airports are two of Germany's fully intelligent airports. The new mobile and cashless payment system was made available in a retail outlet at Munich Airport in 2020, making it the first airport in Europe to do so. With a self-checkout option, the airport actively promotes simple payments in the airport retail sector. By utilizing an electronic price tag on the shelf, this technology enables customers to pay for their purchases without standing in line at the register.

The objective of the report is to present a comprehensive analysis of the Smart Airport Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Smart Airport Market dynamic, structure by analyzing the market segments and projecting the Smart Airport Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Smart Airport Market make the report investor’s guide.
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Global Smart Airport Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US$ 3.86 Bn.


Forecast Period 2022 to 2029 CAGR:
18.24 %
Market Size in 2029:
US$ 12.47 Bn.


 Segments Covered:
by Type
• Airport 2.0
• Airport 3.0
• Airport 4.0


by System
• Communication & Network Systems
• Wireless
• Near Field Communication, RFID, Bluetooth
• LPWAN & WLAN
• Endpoint Devices
• Sensors
• Tags
• Displays
• Cameras
• Wearables
• Data Storage
• Cloud
• On-premise
• Software & Solutions
• Platforms
• Software & Applications
• Data Analytics
• Managed Services


by Application
• Airside
• Air Traffic Management
• Aircraft Maintenance
• Aircraft Turnaround Management
• Ground Support Equipment Management
• Advanced Visual Docking Guidance System (A-VDGS)
• E-Fence
• Noise Monitoring
• Terminal Side
• Passenger Screening
• Cargo & Baggage Handling
• Digital Video Surveillance & Management (DVM)
• Passenger Experience
• Building Management
• Payment & Tokenization
• Staff & Crew Management
• Landside
• Intelligent Advertising
• Vehicular Parking
• Car Rental & Mass Transit


by Operation
• Aeronautical
• Non-aeronautical


by Airport Size
• Large
• Medium
• Small


by End Market
• Implementation
• Upgrades & Services



Smart Airport Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Smart Airport Market Key Players
• Ascent Technology, Inc.
• Cisco Systems Inc.
• Honeywell International Inc.
• Huawei Investment & Holding Co., Ltd.
• Indra Sistemas, S.A.
• L3Harris Technologies Inc.
• Raytheon Technologies Corporation
• SITA
• Thales Group
• Collins Aerospace
• IBM Corporation
• Sabre Corp.
• Amadeus IT Group SA
• Siemens AG

Frequently Asked Questions:

1] What segments are covered in the Global Smart Airport Market report?
Ans. The segments covered in the Smart Airport Market report are based on Type, System, Application, Operation, Airport Size, End Market.

2] Which region is expected to hold the highest share in the Smart Airport Market?
Ans. North America region is expected to hold the highest share in the Smart Airport Market.

3] What is the market size of the Smart Airport Market by 2029?
Ans. The market size of the Smart Airport Market by 2029 is expected to reach US$ 12.47 Bn.

4] What is the forecast period for the Smart Airport Market?
Ans. The forecast period for the Smart Airport Market is 2022-2029.

5] What was the market size of the Smart Airport Market in 2021?
Ans. The market size of the Smart Airport Market in 2021 was valued at US$ 3.86 Bn.