Smart Airports Market To Register Lucrative Growth, Revenue To Surge To US$17.19 Billion by 2022

05-Oct-2017 | Zion Market Research

With the presence of a large pool of participants, the Global smart airports market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Honeywell Corporation Inc., Siemens AG, IBM Corporation, and Rockwell Collins are some of the key vendors of smart airports across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the smart airports market study.

Citing an instance, in June 2018, Huawei Technologies launched its Smart Airport 2.0 Solution that is expected to offer airports with one-stop information and communication technologies tool. Reportedly, the new solution features cloud-pipe device collaboration and covers all the aspects including airport IoT services, visualized operational procedures, and safety solutions.

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Browse the full " Smart Airports Market by Technology (Security Systems, Communication Systems, Passenger, Cargo & Baggage Handling Control, Air/Ground Traffic Control, Endpoint Devices), by Airside (Air Traffic Management, Resource Management, Aircraft Parking, Aircraft Maintenance), for Aeronautical Operations and Non-aeronautical Operations. Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022." report at http://www.zionmarketresearch.com/report/smart-airports-market
 

As estimated in this report, the global smart airports market stood at US$ 12.40 billion in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this smart airports market is expected to reach US$ 17.19 billion by the end of the forecast period.

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Need For Real-Time Information To Augment Smart Airports Market Size

“Smart airports market is anticipated to rapidly gain traction over the coming years, subject to escalation in the demand from travelers along with the massive requirement for real-time information from customers,” says the author of this study. With customer-centric approach becoming the need of the moment,   smart airport concept is fast gaining momentum across the globe. In addition, the massive popularity of value added services such as customer servicing, improving customer airport experience, and need to enhance operational efficiency of airports are few of the key growth drivers of smart airports market.

Apart from this, an unprecedented rise in the number of Smartphone users along with the necessity for accruing information pertaining to boarding, flights, and flight timings is projected to drive the expansion of smart airports market in the years ahead. Furthermore, emerging economies are projected to create profitable growth avenues for smart airports market as compared to developed nations with advanced infrastructural facilities.

Massive Demand For Commercial Aircrafts To Spur APAC’s Regional Dominance

Regionally, Asia Pacific has been leading the worldwide smart airports market and is anticipated to continue on the dominant position in the years to come, states the smart airports market study.  Growing demand for upgrading airport services and technologies such as security systems, communication systems, and baggage & cargo handling systems is the main factor behind the dominance of the Asia Pacific smart airports market. Immense rise in air traffic and humungous demand for commercial aircrafts is another significant factor that is supporting the growth of this regional smart airports market. Reportedly, India, Japan, and China are the regional revenue pockets.

The global smart airports market is segmented as follows:

By Technology

  • Security Systems
  • Communication Systems
  • Passenger, Cargo & Baggage Handling Control
  • Air/Ground Traffic Control
  • Endpoint Devices
  • Other Technologies

By Airside

  • Air Traffic Management
  • Resource Management
  • Aircraft Parking
  • Aircraft Maintenance
  • Others

By Terminal

  • Baggage Handling
  • Check-in Systems
  • Building Operations
  • Sustainable Energy Management

By Landside

  • Vehicular Parking
  • Security
  • Intelligent advertising

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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