Market Highlights:
Airport management is also popularly known as airline management. It is concerned with the management airport & airline spaces. Lately, due to the rising awareness amongst the general population, the global airport management market is gaining impetus.
The aviation industry has registered remarkable success over the last four decades. It has undergone a whole lot of positive changes. Due to that even the airport investors & airport related businesses have evolved. They are making the required changes to enhance the customer’s experience while at the airport.
Airport management is of great importance because airports are a potential market for the sellers. They are basically infrastructures where the vendors (sellers) can meet the users of their aviation related services. Hence, it is important for an airport to be in best condition at all times. They act as a crucial connecting link between the sellers & consumers.
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Major Key Players:
IBM Corporation (U.S.),
Cisco Systems, Inc. (U.S.),
Siemens AG (Germany),
Honeywell International Inc. (U.S.),
Raytheon (U.S.),
QinetiQ (U.K.),
Amadeus IT Group (Spain),
SITA (Switzerland),
Rockwell Collins, Inc. (U.S.), Inform GmbH (Germany) and others.
The global airport management market is expected to grow at approx. USD 15.5 Billion by 2023, at 10% of CAGR between 2017 and 2023.
Industry Scenario:
Major giants like IBM Corporation and Siemens AG are investing into airport management market due to increasing need for sophisticated services management at the airports. Increasing adoption of smartphones and tablets is one major factor fueling the growth of airport management market. Owing to this, passengers are well informed about their journey details through messages.
North America region holds the largest market share of global airport management market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand for sophisticated services at the airports and changing consumer preferences in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies.
Airport management market has been segmented on the basis of component, airport size and application. The airport size segment is further bifurcated into class A, class B, class C, class D. Out of which, class B airport size sub segment holds the largest market share of the entire airport management market. Whereas class A airport size is expected to be the fastest growing during the forecast period. Airports despite of their sizes, need proper management of services in order to offer the passengers with a hassle free journeys and better travel experience.
Major factor driving the growth of airport management market is the growing need for sophisticated management at the airports. The airport management enables smooth functioning of operations and better control too. Proper management at the airports ensures that customers don’t have to wait in queues for a long time and are provided with proper services.
Regional Analysis:
The regional analysis of airport management market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in airport management market in North America is attributed to technical advancements and increasing security concerns at the airports in that region. With the increasing adoption of smartphones and tablets, customer engagement has become easy and better service provision is made possible, right from issuing and e-ticket to receiving details about baggage too.
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Intended Audience
- Technology Investors
- Research/Consultancy Firms
- Infrastructure Providers
- Chip designers and fabricators
- Original equipment manufacturers (OEMs)
- OEM technology solution providers
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