Intelligent Airways Transportation System Market To Expand At A Noteworthy CAGR Of 11.5% During 2024-2032

Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Intelligent Airways Transportation System Market Research Report

Market Overview:

Rapid technological advancement is resulting in continuous upgrading of airport equipment to facilitate safety and efficiency of the airways. The intelligent airways transportation system uses information technology in order to manage airway services. Market Research Future (MRFR) has published a report asserting that the global intelligent airways transportation system market is marked to expand remarkably at a CAGR of 11.5% during the forecast period of 2024-2032 and reach the valuation of USD 21.5 Bn by the end of 2032 from USD 11.18 Bn in 2016.

Market Drivers and Restraints:

Increasing adoption of advanced technology and rapid development in artificial intelligence technology are majorly aiding in air traffic organization by maintaining the critical elements of airways transportation systems. Growing trend of internet of things and the benefits of intelligent airways transportation system for enhancing security and service quality are contributing to the significant growth of the global intelligent airways transportation system market. Increasing aircraft fleets and air traffic are inducing high demand for advanced management solutions that provide real-time data, which in turn is propelling the growth of the global intelligent airways transportation system market.

Implementation of intelligent airways transportation system to enhance customer experience and security by making the travel more personalized and for timely managing of services are propelling the growth of the global intelligent airways transportation system market. The features of intelligent airways transportation system that aid in simplifying the complexities regarding the working of airports and airways are inducing demand for advanced solutions, resulting in the expansion of the global intelligent airways transportation system market. However, high cost of upgrades and lack of resources are some of the primary factors that are likely to restrain the growth of the global intelligent airways transportation system market during the forecast period.     

Market Segmentation:

The global intelligent airways transportation system market has been segmented on the basis of component, deployment and technology. Based on component, the intelligent airways transportation system market has been segmented into hardware and software. The hardware segment has been sub-segmented into sensor, display units, closed circuit cameras, networking devices and others. The software segment has been sub-segmented into backend integration various device. Based on deployment, the intelligent airways transportation system market has been segmented into on-cloud and on-premises. Based on technology, the intelligent airways transportation system market has been segmented into passenger empowerment, smarter baggage solutions, biometric-enabled self-service, data science, robotics and artificial intelligence and others.

Regional Analysis:

Geographically, the global intelligent airways transportation system market has been segmented into four major regions such as North America, Asia Pacific, Europe and the rest of the world. The North America region is forecasted to expand at a noteworthy growth rate owing to the increasing adoption of artificial intelligence technology and easy adoption of advanced solutions for airport management. Increasing emphasis on airport automation and easy adoption of advanced technology are fueling the growth of the intelligent airways transportation system in the Europe region. The Asia Pacific region is projecting fastest growth in the global intelligent airways transportation system market owing to the adoption of technologically advanced solutions to manage rapidly increasing air traffic in this region.

Key players:

The service providers in the global intelligent airways transportation system market are focusing on business expansion by introducing advanced solutions in the global intelligent airways transportation system market. The strategic mergers and acquisition

The prominent players profiled by MRFR that are operating in the global intelligent airways transportation system market are Amadeus IT Holding S.A. (Spain), Cisco Systems Inc. (the U.S.), Indra Sistemas S.A. (Spain), International Business Machines Corporation (IBM) (U.S.), NEC Corporation (Japan), Rockwell Collins Inc. (the U.S.), Siemens AG (Germany), SITA (Switzerland), Unisys Corporation (the U.S.), Honeywell Corporation Inc. (the U.S.) and others.