The global smart airports market report provides an analysis of the market for the next five years. It discusses industry and technological trends that are currently prevailing in the smart airports market, along with the drivers, restraints, challenges, and opportunities. The smart airports market is projected to grow from USD 11.31 billion in 2016 to USD 14.87 billion by 2021, at a CAGR of 5.64% from 2016 to 2021.
The rise in air passenger traffic across the globe, increasing use of smartphones, enhanced internet connectivity, rise in prominence of self-service technologies, and growing need of the passengers for real-time information are expected to drive the market during the forecast period.
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Based on technology, the smart airports market is segmented into security systems, communication systems, passenger, cargo & baggage ground handling control, air/ground traffic control, endpoint devices, and other technologies. Communication systems is anticipated to be the fastest-growing segment in the smart airports market. The increasing concept of wireless airports, near field communication, social media, and smartphones are the key factors to drive the communications segment in the smart airports market.
Based on landside, vehicular parking is anticipated to be the fastest-growing segment during the forecast period. The increasing need to efficiently manage traffic flows at the airport, rising safety of vehicles, and providing ease and convenience to the passengers in vehicle parking areas are the key drivers for investments in the vehicular parking segment.
On the basis of airside, air traffic management is projected to be the fastest-growing segment during the forecast period. Increasing number of Greenfield airport projects and runway extension projects in existing airports are driving the growth of air traffic management.
In terms of terminal side, check-in systems is projected to be fastest-growing segment during the forecast period. The low installation cost involved in upgrading self-check-in systems as compared to other installations in the terminal side segment such as automated baggage handling system, building operations, is the key factor to drive the check-in systems segment.
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Based on application, the non-aeronautical operations segment is projected to grow at a higher during the forecast period. The non-aeronautical operations include real-time services, intelligent transport services, smart supply chain management, smart traveler services, and smart cities integration.
Based on region, North America, Europe, Asia-Pacific, the Middle East, South America, and Africa are considered for the study. The smart airports market in Asia-Pacific is expected to grow at the highest CAGR from 2016 to 2021. New greenfield airport projects and extension of existing airports are the key factors driving the market in this region. In addition, huge investments made on airport infrastructure development in India and China is also one of the key factors expected to propel the market growth in next five years.
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