What Has Been the Growth of the Intelligent Airways Transportation Market So Far?
The intelligent airways transportation market has seen considerable growth due to a variety of factors.
•The market size for intelligent airways transportation has experienced a significant expansion in the most recent years. The market is forecast to increase from a value of $19.49 billion in 2024 to $21.1 billion in 2025, leading to a compound annual growth rate (CAGR) of 8.3%.
Several factors that have contributed to this growth during the historic period include the early adoption of technologies such as RFID and barcoding, the initial development of AI systems, the application of biometric authentication, the integration of IoT in aviation, and foundational steps towards sustainability.
What Are the Future Growth Projections for the Intelligent Airways Transportation Market?
The intelligent airways transportation market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the size of the intelligent airways transportation market is predicted to increase exponentially. The growth is estimated to reach $28.96 billion by 2029 at a compound annual growth rate of 8.2%.
The anticipated development can be credited to factors such as client demands and experiences, environmental initiatives, cybersecurity and risk control, data analysis and strategic decision-making, market development, and expansion. The main trends for the future include the use of automation and robotics, IoT and connectivity, AI and predictive analytics, smart infrastructure and sensors, biometrics and security, and energy efficiency and sustainability.
What Factors Are Driving Growth In The Intelligent Airways Transportation Market?
The surge in air travel as the chosen mode of transportation for both passengers and freight is anticipated to fuel the expansion of the intelligent airways transportation market. This growing preference for air travel underscores the increasing use of improved safety measures, efficiency, enhanced customer service, and cost savings offered by intelligent airways transportation. For example, the International Air Transport Association, a global trade group of airlines based in Canada, noted in April 2023 that total air traffic in February 2022 had jumped 55.5% compared to 2021. Furthermore, in 2022, both international and domestic traffic increased by 89.7% and 25.2% respectively compared to 2021. Consequently, the growing use of air travel over other modes of transportation propels the development of the intelligent airways transportation market.
What Are The Main Segments Of The Global Intelligent Airways Transportation Market?
The intelligent airways transportation market covered in this report is segmented –
1) By Component: Hardware, Software
2) By Technology: Robotic And Artificial Intelligence, Data Science, Biometric Enables Self-Services
3) By Deployment: On Cloud, On Premises
4) By Application: Passenger Empowerment, Smarter Baggage Solutions, Biometric-enabled Self-service, Other Applications
Subsegments:
1) By Hardware: Sensors, Cameras, RFID Tags, Communication Systems, Display Systems
2) By Software: Air Traffic Management Software, Airport Operations Management Software, Passenger Management Software, Security Management Software, Data Analytics Software
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What Emerging Trends Are Influencing The Growth Of The Intelligent Airways Transportation Market?
The intelligent airways transportation market has been seeing a surge in popularity for smart technologies. With firms in this sector keen on maintaining their market standing, they are embracing and pouring investments into intelligent technologies. Take for instance the October 2022 partnership between Société International de Telecommunications Aéronautiques (SITA), a Switzerland-based IT services provider, and Versa Networks, which resulted in the launch of ITA Connect Go technology. Geared toward the air transport industry, this unique multi-tenant edge secure software-defined wide area network (SD-WAN) solution offers virtualized infrastructure and cloud access at airports. This is beneficial to ground handlers, various airlines, and other tenants.
Who Are the Key Players in the Intelligent Airways Transportation Market?
Major companies operating in the intelligent airways transportation market include:
• Amadeus IT Holding S.A.
• Cisco Systems Inc.
• Indra Sistemas S.A.
• International Business Machines Corporation
• Nippon Electric Company Limited
• Siemens AG
• Rockwell Collins Inc.
• Société International de Télécommunications Aéronautiques
• Unisys Corporation
• Honeywell International Inc.
• Zhongxing New Telecommunications Equipment Co. Ltd.
• Microsoft Corporation
• Oracle Corporation
• Thales Group Inc.
• Raytheon Technologies Corporation
• Saab AB
• L3Harris Technologies Inc.
• Frequentis AG
• ADB SAFEGATE
• Northrop Grumman Corporation
• Saipher ATC
• Lockheed Martin Corporation
• Airbus SE
• Adacel Technologies Limited
• SkySoft-ATM
• Threod Systems
• Intelcan Technosystems Inc.
• Leonardo S.p.A.
• ALTYS Technologies
• Skygyuide
What Is The Most Dominant Region In The Intelligent Airways Transportation Market?
North America was the largest region in the intelligent airways transportation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global intelligent airways transportation market during the forecast period. The regions covered in the intelligent airways transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
