What Factors Propelled The Growth Of The Smart Airport Market In The Past?
The smart airport market has seen considerable growth due to a variety of factors.
• The market size of the smart airport has experienced speedy expansion in the preceding years. The projections show an increase from $8.47 billion in 2024 to $9.53 billion in 2025, with a compound annual growth rate (CAGR) of 12.6%.
The rise observed during the historical period was due to the improved passenger experience, decrease in airline expenses, environmental sustainability, efficacy in airport operations, and the advent of remote and self-service check-in.
What Is The Projected Growth And Market Size For The Smart Airport Sector?
The smart airport market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the smart airport market is forecasted to burgeon in the coming years, reaching a market value of $16 billion in 2029 with a compound annual growth rate (CAGR) of 13.8%.
The anticipated growth within this timeframe can be ascribed to advancements in smart parking and transportation, resource management through predictive analytics, optimization of retail and commercial spaces, and improved security measures. Key trends predicted for this period include the introduction of biometric passenger boarding, the implementation of contactless technologies, utilization of blockchain for enhanced security and data integrity, the application of artificial intelligence in managing airport operations and robotic process automation as well as the exploitation of 5g connectivity for improved communication.
What Are The Core Factors Supporting Growth In The Smart Airport Market?
The expansion of airport infrastructure investments is anticipated to push the smart airport market forward. This is stimulated by the increasing need to cater to rising passenger and cargo volumes, boost operational effectiveness, and adhere to contemporary safety and environmental norms. Besides, advances in technology, governmental strategies, and the emergence of smart airport programs further drive infrastructure enhancements to improve the overall passenger experience. For instance, a report issued in March 2023 by the Airports Council International, a Canadian organization aiming to align airport standards through a unified industry approach, the anticipated need for airport infrastructure from 2023 to 2027 is projected to be about $151 billion. This represents a 30.9 percent rise compared to estimates from 2019 to 2023. Thus, surges in airport infrastructure investments will fuel the growth of the smart airport market.
What Are The Major Segments Within The Global Smart Airport Market?
The smart airport market covered in this report is segmented –
1) By Services: Smart Transport And Parking Services, Smart Retail, Hospitality And Entertainment Services, Smart Workplace Services, Smart Airport Processes, Smart Business To Business Services
2) By Infrastructure: Endpoint Devices, Communication Systems, Passenger, Cargo and Baggage Ground Handling Control, Air/Ground Traffic Control, Security Systems, Other Infrastructures
3) By Location: Landside, Airside, Terminal Side
4) By Application: Core Applications, Business Applications
5) By End User: Implementation, Upgrades And Services
Subsegments:
1) By Smart Transport And Parking Services: Intelligent Transportation Systems (ITS), Smart Parking Solutions, Airport Shuttle Services
2) By Smart Retail, Hospitality And Entertainment Services: Mobile Retail Applications, Digital Signage And Advertising, Airport Lounges And Dining Options
3) By Smart Workplace Services: Employee Management Systems, Collaboration And Communication Tools, Security And Access Control Systems
4) By Smart Airport Processes: Automated Check-In Solutions, Baggage Tracking Systems, Security Screening Automation
5) By Smart Business To Business Services: Data Analytics Services, Operational Integration Solutions, Supply Chain Management Services
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Which Trends Are Expected To Transform The Smart Airport Market?
The smart airport market is seeing a significant trend in the utilization of technological advancements like the Internet of Things (IoT) in the production and assembly of aircraft components. Globally, companies have begun to leverage cloud-based platforms for the creation of new designs for aircraft, engines, systems, or components. This platform facilitates streamlining of the design process by uniting suppliers, systems integrators, software developers, and other key players in the manufacturing and design ecosystem on a single virtual platform. As an example, SpaceX, an American aerospace and technology corporation, initiated a new service named Starlink Terminals in October 2022. This service aims to provide its satellite internet network to aircraft, offering internet speeds of up to 350 Mbps per plane while airborne anywhere globally. However, before a plane can be equipped with a Starlink terminal, the aircraft's owner or operator must obtain a supplemental type certificate from the FAA, granting permission for modifications to the aircraft's original design.
Who Are the Key Players in the Smart Airport Market?
Major companies operating in the smart airport market include:
• Amadeus IT Group SA
• CISCO System Inc.
• Collins Aerospace
• Daifuku Co. Ltd.
• Ascent Technologies Inc.
• Honeywell International Inc.
• Huawei Technologies Co. Ltd.
• International Business Machines Corporation
• Indra Sistemas S. A.
• ITALIA TRASPORTO AEREO S. P. A.
• L3Harris Technologies Inc.
• Raytheon Technologies Corporation
• RESA
• Lufthansa Systems GmbH & Co. KG.
• Sabre Corporation
• Siemens AG
• Société Internationale de Télécommunications Aéronautiques
• Thales Group
• T-Systems International GmbH
• Vision-Box Inc.
• Wipro Limited
• Zensors. Inc.
• ADELTE - The Boarding Company
• Ansul
• Deerns Airport System Consultants
• FB TECHNOLOGY
• Gentrack Group Limited
• Beumer Group GmbH & Co. KG
• Bosch security systems GmbH
• Schneider Electric SE
What Is The Most Dominant Region In The Smart Airport Market?
North America was the largest region in the smart airport market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart airport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
