Market Highlights:
The global airport management market is poised for growth in the coming years. It is anticipated that this industry will earn up to USD 15.5 billion by the end of forecast period of 2018 – 2023. In terms of CAGR, the market is expected to grow at the rate of 10%.
The development of this market has been brought about by a number of growth factors collectively. One of the major drivers for this market is the increased in the usage of smart phone devices. Because of these, the travelers get to know about their journey time & other details through messages. Additionally, any updates regarding the delay of flight are also conveyed to them through messages.
High demand for refined services at the airport is acts as an added growth booster for the market. Due to this, many big players of the industry have started investing in this market.
Rising passenger traffic, demand for faster information sharing & requirement for risk management at airport systems can be termed as additional growth factors that further boost the growth of the market.
Key Players
The prominent players in airport management market are – IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Siemens AG (Germany), and 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.
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Innovations
One of the recent innovations witnessed by the airport management market is the introduction of camera drones for security. As drone cameras have become affordable now, many airports have started making the use of these to ensure optimal security in their airport facilities. These can be used effectively to single out any suspicious person or element in the vicinity of the airport.
Market Segmentation
The global Airport Management Market is divided into five equal parts. They include, services, software, airport sizes, applications & regions.
On account of services, the market is segmented into professional services & managed services.
On the basis of software, the market can be fragmented into non passenger systems & passenger systems.
When it comes to airport sizes, the market is split into class A, class B, Class C & Class D. Amongst these, the class B sub-division holds the largest market share. Class A is not far behind and expected to grow at a tremendous rate over the forecast period.
The applications segment comprises of content management, security, logistics, integration, business applications, gate management, performance management, collaboration & others.
Geographically, this market is spread across several regions like North America, Europe, Asia Pacific & Rest of the World.
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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.
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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