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% during the forecast period. The base year considered for the study is 2015, and the forecast period is from 2016 to 2021.
The report analyzes the smart airport market on the basis of technology (Security Systems, Communication Systems, Passenger, Cargo & Baggage Handling Control, Air/Ground Traffic Control, Endpoint Devices, Other technologies), Airside (ATM, Resource Management, Aircraft Parking, Aircraft Maintenance, and Others), terminal side (Baggage Handling, Check-in Systems, Building Operations, and Sustainable Energy Management), Landside (Vehicular Parking, Security and Intelligent advertising), application (Aeronautical Operations and Non-aeronautical Operations). These segments and subsegments are mapped across major regions, namely, North America, Europe, Asia-Pacific, Middle East, South America, and Africa.
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The report provides an in-depth market intelligence regarding market dynamics and major factors, such as drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the smart airports market, along with an analysis of micromarkets on individual growth trends, prospects, and their contribution made to the overall market. The report also covers competitive developments, such as long-term contracts, new product launches & agreements, and research & development activities in the smart airport market.
The ecosystem of the smart airports market comprises technology vendors, IT solution providers, system integrators, and end users. Some of the key market players operating in the market include Honeywell Corporation Inc (U.S.), Rockwell Collins (U.S.), SITA (Switzerland), Siemens AG (Germany), IBM Corporation (U.S.), and Amadeus IT Group SA (Spain) among others. These players have adopted strategies such as contracts, new product developments, and agreements to strengthen their position in the smart airports market.
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Based on technology, the smart airport market has been segmented into Security Systems, Communication Systems, Passenger, Cargo & Baggage Handling Control, Air/Ground Traffic Control, Endpoint Devices, and Other technologies. The communication systems segment is anticipated to grow at the highest CAGR during forecast period. Rising need for real-time information is one of the factor, airports are adopting smart technologies for smooth flow of communication between disparate systems and end users.
Based on airside, the market has been segmented into Air Traffic Management, Resource Management, Aircraft Parking, Aircraft Maintenance, and Others. The air traffic management segment accounted for the largest share in 2016, owing to the investments and developments made to overcome airspace congestions and high adoption rate of ground-based augmented system (GBAS) in airports.
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