Global Smart Airport Market previsioned to expand with 12% CAGR between 2017 and 2023
Just like smart cities and smart buildings, the world today is witnessing smart airports. At smart airports, there is efficient management of industrial processes such as the handling of thousands of pieces of luggage coming to airports on a daily basis. Due to rapid technological advancement and innovations, the global smart airport market has grown drastically.
The factors that drive the growth of this market include a rise in demand for real-time data. Real-time data would ease the burden on manpower and airport infrastructure. Other important factors include development in commercial aviation, the establishment of new airports, increase in green initiatives by the airports and modernization of old airports. Constructing a smart airport creates systems and processes that are digitally equipped and arranged, in terms of connectivity and process efficiency.
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Market Research Future (MRFR) has published a research report about the global smart airport market that previsions the market expansion with 12% CAGR in this market between 2017 and 2023. This estimation is due to the rise in the usage of digital technologies worldwide, with aircraft companies focusing more towards the digital transformation to enhance the personal experience of the passengers.
This report contains extensive primary research that presents the detailed analysis of qualitative as well as quantitative aspects of this market by various industry experts. It evaluates current market scenario that includes historical and projected market size in terms of macroeconomic and governing factors in the market, technological advancement, and value and volume. This report also profiles the key players in the market.
Latest Industry News
- SK Telecom (SKT), the top mobile carrier in South Korea, has plans to push for a smart airport project regarding Incheon International Airport. SKT has signed a memorandum of understanding with Incheon to use its (SKT’s) advanced information and communications technology. 1 JUL 2018
- San Francisco International Airport (SFO) has chosen Park Assist’s Parking Guidance System (PGS) in its Long Term Parking 1 and Long Term Parking 2 garage. Park Assist’s M4 camera-based smart-sensor powered technology with a set of features will help SFO create new revenue opportunities, create an innovation-driven parking system, and reduce costs. 26 JUL 2018
Smart Airport Market – Key Players
The key players in global smart airport market include :
- Amadeus IT Group SA (Spain)
- Cisco Systems Inc. (USA)
- Honeywell Corporation Inc (USA)
- IBM Corporation (USA)
- Kiewit (USA)
- Larsen & Toubro (India)
- Raytheon (USA)
- Rockwell Collins Inc. (USA)
- Siemens AG (Germany)
- Société Internationale de Télécommunications Aéronautiques (SITA) (Switzerland)
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Smart Airport Market – Segments Analysis
The global smart airport market has been segmented into airside, application, landslide, technology, terminal type, and lastly region. Segmentation by airside comprises ATM, resource management, aircraft parking, and aircraft maintenance. On the basis of application, this market has been segmented into aeronautical operations and non-aeronautical operations. Aeronautical operations comprise of operations via group or the entirety of applications that used for communication of an aircraft with its airline or service partner pendants on the ground. The significant growth of non-aeronautical segment is expected throughout the forecast period. Services via non-aeronautical applications that are expected to drive this growth include advertising, lounge access, restaurants, retail outlets, smart parking, Wi-Fi, and personalized services. Non-aeronautical operations also include boarding and lodging facilities, conference rooms, lounges, and parking facilities.
On the basis of landslide segmentation, the Smart Airport Market has been segmented into vehicular parking and security & intelligent advertising. Vehicular parking is about space where visitors to airport and cab drivers park their vehicles. Security & intelligent advertising include airport surveillance activities.
The technology-based segmentation segments the market into air/ground traffic control, cargo & baggage handling control, communication systems, endpoint devices, passenger, security systems, and other technologies. Air/ground traffic control helps pilots to know their direction in the air and their distance with other planes in the sky. Cargo & baggage handling control ensures that all the luggage is kept in the aircraft safely and properly after security check. Communication systems enable contact between the pilot and officers in the control room. Security systems supervise security arrangements at the airport and inside aircraft too. An endpoint device is an Internet-capable computer hardware device on a transmission control protocol (TCP) /internet protocol (IP) network. This can include desktop computers, laptops, printers, smartphones, tablets, thin clients, or other specialized hardware such point of sale (POS) terminals and smart meters. Given the rapid technology advancement, today smart robots are raising the productivity of the workforce in airports like Changi in Singapore. The smart wheelchair system activates, wheelchairs guided by vision-based technology that go to people who need them. Different technologies include Roboto, a prototype robotic chef, which prepares ‘laksa’ for passengers in Sats Premier Lounge. With more intelligent technologies providing a digital ecosystem on airports, passengers can witness machine-driven arrival, baggage and document checks, and smart baggage system. On-site application of the Internet of Things (IoT) has made this possible. Utilizing existing CCTV systems and predicting the waiting time in arrival areas, passport management, security checkpoints, and taxi lanes is aiding the development of queue management system via IoT. This is going to make airport procedures smooth for passengers.
By Terminal Type, the market has been segmented into baggage handling, building operations, check-in systems, and sustainable energy management.
Smart Airport Market – Geogrpahic Overview
The regional segmentation of global smart airport market segments the market into regions namely North America, Europe, Asia Pacific, and the rest of the world (RoW). Due to technological advancement, North America is the biggest regional market, and in this region, the biggest chunk of revenue comes from the United States of America (USA), Canada and Mexico. In the recent years, the European Union witnessed a rise in the number of air passengers. During the forecast period, it is expected that the air passenger volume will expand. Therefore, smart airport construction rising in Europe. In addition, the European countries are well-liked tourist destinations and are widely preferred by tourists around the world. The biggest markets in Europe are France, Germany, Italy and the United Kingdom (UK).
Although technologically advanced countries like Singapore and Japan have introduced the concept of the smart airport in the Asia Pacific, the market is slowly growing in this region due to slow adoption of the latest technology. The biggest market apart from Japan and Singapore includes China and India. Segmentation by terminal types includes baggage handling, check-in systems, building operations and sustainable energy management.
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Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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