In the most recent analysis presented by Report Ocean entitled “Smart Airport Market Analysis and Forecast of Key Trends from 2023 to 2031,” the industry is currently undergoing substantial expansion, showcasing considerable potential for both investors and stakeholders. This comprehensive report delves deeply into the market, encompassing a wide array of factors that intricately influence the trajectory of its growth.
The global smart airport market held a market value of USD 27,485.5 Million in 2020 and is estimated to reach USD 54,862.1 Million by the year 2027. The market is anticipated to register a CAGR of 10.9% during the forecast period.
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Immerse yourself in this all-encompassing report that delivers an exclusive and profound exploration of this specialized sector. Packed with elaborate tables, enlightening figures, and insightful charts, you’ll gain access to pivotal statistics, prevailing trends, and invaluable insights into the competitive landscape. This resource serves as an indispensable toolkit for industry executives, marketing and sales professionals, product managers, consultants, analysts, and stakeholders, offering easily accessible documents rich in lucidly presented tables and graphs. The research not only encapsulates historical data spanning 2017 to 2020 but also projects trends up until 2030.
On June 8th, 2022, the Bureau of Economic Analysis and U.S. Census Bureau released a report detailing the recovery of the U.S. market and international trade. The report highlighted the significant growth in exports and imports, with exports reaching $300 billion in April 2022, an increase of $13.4 billion, and imports amounting to $294.5 billion, increasing by $17.4 billion. Despite the impact of COVID-19 on the global economy, the U.S. market is showing signs of recovery.
Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War.
The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
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Segments Overview:
The global smart airport market is segmented into infrastructure, solutions, application, services, airport model, airport size, and airport operation.
By Infrastructure,
? Endpoint Devices
o Sensors
o Tags
o IP Phone
o Video Conferencing (Audio/ Video)
? Communication Systems
o Wireless Airports
o Smart Phones
o Near Field Communication
o Social Media
? Passenger, Cargo, and Baggage Ground Handling Control
o IoT Enabled Beacons
o Robots for Passenger and Baggage Movement
o Common-use Self-service (CUSS) Kiosks
o RFID Baggage Reconciliation System
o E-Gates
? Air/Ground Traffic Control
o Systems & Scalable Air Traffic Management Solutions (ATM)
o Automated Passport Controls
? Security Systems
o Biometrics
o Alerts & Cyber Security
o E-Fence & Ground Surveillance Radar
o E-Tag System
? Others (Airport Management Software, Navigational, Digital Signage, Landing Aids)
The passenger, cargo, & baggage handling control segment accounted for the largest market share of over 27% owing to the rapidly growing passenger traffic, which is also increasing pressure on airport operators to boost their passenger handling capacity. The security systems segment is anticipated to grow at the fastest rate of 10.7%. Within the communication systems segment, the smartphones segment is expected to grow at a CAGR of 10.2% during the projected period.
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By Solutions,
? Terminal Side
o HVAC
o Lighting Control
o Digital Video Surveillance and Management (DVM)
o Fire and Life Safety Solutions
o Energy Management
o Life Cycle Services
o Building Management and Automation Systems
? Air Side
o Advanced Visual Docking Guidance System (A-VDGS)
o Airfield Ground Lighting (AGL)
o Surface Movement Guidance
o Runway Improvement and Apron Management
o Digital and Radar Video Surveillance
? Landside
o Parking
o Access Roads
o Perimeter Security
o Car Rental
o Mass Transit
o Airport City
The terminal side is estimated to hold the largest market share of about 60% owing to the rising demand for installation of artificial intelligence-based advanced equipment and systems on the terminal side of the airports. Within the terminal side, the energy management segment is anticipated to grow at the CAGR of 13% and within the landside segment; the perimeter security segment is estimated to grow at a CAGR of 11.9%.
By Application,
? Core Applications
o Content Management
o Business Intelligence
o Next-Generation Web
o Collaboration
o Integration
? Business Applications
o Noise Abatement
o Fee Management
o Performance Management
o Gate Management
The business applications segment is expected to hold the largest market share, as well as is expected to witness the highest growth rate owing to the increasing focus of market players on applications, such as noise abatement and performance management.
By Services,
? Smart Transport & Parking Services
o Real-time Travel Services
o Intelligent Transport Services
o Trip Concierge
? Smart Retail, Hospitality & Entertainment Services
o Passenger-Specific Retail and Hospitality
o Intelligent Advertising
o Lean Retail Solutions
o Telepresence Rooms
? Smart Workplace Services
o Equipment Telematics Solutions
o Mobile Worker and Expert Locator
? Smart Airport Processes
o Location-Based Services
o RFID Baggage Tagging
o No-queue Check-in Solutions
? Smart Business to Business Services
o Traffic and Facilities Management
o Smart Supply-Chain and MRO Services
The smart transport & parking services segment is expected to hold the largest market share of around 34%, owing to the increasing passenger traffic. The smart airport processes segment is estimated to grow at the fastest rate of 15.7% over the forecast period.
By Airport Model,
? Airport 2.0
? Airport 3.0
? Airport 4.0
The airport 3.0 segment accounts for the largest share while the airport 4.0 segment registered the fastest growth rate. Airport 4.0 assists in managing connectivity as well as real-time information by connecting stakeholders in an integrated digital ecosystem, which promotes market growth.
By Airport Size,
? Small
? Medium
? Large
The large airport size segment accounted for the largest market share owing to the high demand for advanced systems at these airports. They also experience high demand for customization of systems, which also contributes to the market growth.
By Airport Operation,
? Commercial Service Airports
? Cargo Service Airports
? General Aviation Airports
The commercial service airports segment is expected to grow at the fastest rate owing. Commercial service airports provide personalized services and assist in enhancing customer experiences, which contributes to the market growth.
Regional Overview
On a regional basis, the global smart airport market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The North American region accounted for the largest market share of more than 34% in the global market owing to the rising spending on modernizing their airports. Furthermore, according to the Airports Councils International, the U.S. is expected to hold 21% of the total air cargo traffic in the world by 2040. This is also estimated to boost market growth.
The Asia Pacific region is anticipated to hold the second-largest market size. According to the Airports Councils International, 6 of the top 10 fastest growing countries for passengers from 2018 to 2040 are situated in the Asia Pacific region. These countries with their annual passenger growth rate are Vietnam (6.2%), India (6.1%), Philippines (5.3%), Indonesia (5.2%), China (4.7%), and Malaysia (4.4%). This also positively impacts the region?s growth.
Competitive Landscape
Key players operating in the global smart airport market include Adelte, Ascent Technology Inc., Amadeus IT Group SA, Ansul, Cisco System, Collins Aerospace, Deerns Airport System Consultants, Daifuku Co., Ltd., Sensec Solution AS (Initially DSG Systems), FB Technology, Honeywell International, Inc., Huawei Technologies Co., Ltd., IBM Corporation, Indra, SITA, Lufthansa Systems GmbH & Co. KG., QinetiQ, RESA, S.A.S., Sabre Corporation, Selex ES, Siemens AG, T-Systems, Thales Group, Vanderlande Industries, Vision-Box, Wipro Limited, and Zensors, among others.
The research provides in-depth details about important industry players, supply chain trends, financials, significant events, and technical advancements. It discusses upcoming tactics, purchases, and mergers in the bulletproof jacket sector. In order to provide a thorough, global perspective on the market, the study has been divided into segments based on type, distribution channel, and geography. It also examines historical and projected growth trends.
Report Includes:
Introduction: This section gives background information on the research issue and explains the need for and rationale for the study’s conduct.
Literature Review: In this section, we give a summary of earlier research on the topic, including pertinent theories, models, and findings from more recent studies.
Methodology: The research design, data collection techniques, and sample size are all fully described in this section. Semi-structured interviews and surveys were employed in this study’s qualitative research design.
Results: The analysis’s findings are given in this part along with tables, graphs, and other visual aids that effectively and succinctly communicate the information.
Discussion: This section’s goal is to offer an explanation of the findings and make comparisons between them and findings from related earlier studies and hypotheses.
Conclusion: The main findings of the study are outlined in this part, along with recommendations for future research and ideas for additional study.
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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