Smart Airport Market Share

Global Smart Airport Market Overview

Smart Airport Market Size was valued at USD 37.9 billion in 2022. The Smart Airport market is projected to grow from USD 42.9028 Billion in 2024 to USD 90.28 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.20% during the forecast period (2024 - 2030). AI is increasingly being used to ensure airport safety and increases in the number of passengers flying are the key market drivers enhancing market growth.

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Smart Airport Market Trends

• AI is used to ensure airport safety, driving’s driving market growth.

The aviation industry is poised for great potential with the implementation of smart airport technologies. Customer service, resource management, and airport are areas where AI technologies like machine learning, computer vision, and natural language processing ring about significant changes. Major aircraft producers like Airbus S.A have recently. Boeing disclosed the introduction of AI-based products and research projects. Additionally, in creating innovative AI-powered solutions, these businesses have made sizable investments in startup AI companies through their venture arms. For businesses in the aerospace industry, AI is anticipated to provide excellent solutions that will boost productivity, efficiency, and safety.

These new solutions are expected to redefine the primary capabilities of the upcoming generation of aviation professionals. Airports are implementing systems that can communicate with passengers and boost productivity as the use of smart technologies in modern airports increases worldwide. As threats to airport security have increased over the past ten years, airport authorities worldwide have significantly tightened their security. Systems created by artificial intelligence assist airport authorities in addressing safety concerns. The UK government committed about $2 million in February 2018 to creating new AI systems that will improve security and shorten wait times at the busiest airports in the country. The preference for air travel and the expanding commercial aviation industry is anticipated to fuel the growth of the smart airport market during the anticipated time frame. The International Air Transport Association (IATA) predicts that China and India will account for an additional 44% of air passenger traffic over the next ten years. In addition, over the next ten years, air passenger travel is anticipated to grow the fastest in the Asia-Pacific region. Governments in developed nations are eager to invest in green airports and smart airport initiatives to lessen the negative environmental effects.

Additionally, in these airports, smart parking is a developing concept. As a result, the market will grow. Thus, driving the Smart Airport market revenue.

Smart Airport Market Segment Insights

Smart Airport Technology Insights

Based on technology, the passenger information system market segmentation includes security systems, communication systems, cargo &amp baggage handling control, air/ground traffic control, passenger and endpoint devices, and others. The passenger segment dominated the market, and In the upcoming decades, air passenger traffic is expected to double. Developing state-of-the-art solutions will be necessary to meet that demand and guarantee that improved customer experience has enhanced the Smart Airport market CAGR ly in recent years.

Smart Airport Application Insights

based on application, the  passenger information system market segmentation includes aeronautical and non-aeronautical operations. The non-aeronautical operations segment held the majority share in 2022 concerning the Smart Airport market revenue. According to our study, in the first quarter of 2020, airports worldwide saw a sharp decline in passenger traffic due to the COVID-19 pandemic. Since they cannot cover all airport operations and capital costs, non-aeronautical revenues are critical. Non-aeronautical revenues are the main source of income for a few significant airports in the Asia-Pacific region. For instance, Asia-Pacific airports receive more than 45% of their revenue from non-aeronautical sources. The sudden decline in passenger volume greatly impacts the ecosystem of airports, airlines, suppliers, and service providers. However, in 2019 the aeronautical segment was the biggest.

Smart Airport Terminal Type Insights

Based on the terminal type, the  Smart Airport market data includes Baggage Handling, Check-in Systems, Building Operations, and Sustainable Energy Management. The Baggage Handling category generated the most income. Moving a passenger's luggage from a check-in counter at the airport of departure to the cargo hold of an airplane, then to a collection point at the airport of arrival, is known as baggage handling. Numerous procedures and inspections comprise a baggage handling system (BHS). Greater use of airplane implants for Smart Airports positively impacts market growth.

Smart Airport Airside Insights

Based on the Airside, the Smart Airport industry includes ATM, Resource Management, Aircraft Parking, Aircraft Maintenance, and Others. ATM dominates the market holding the maximum market share during the forecasted period. IATA coordinates activities among aviation stakeholders to ensure that Air Traffic Management (ATM) standards are uniform worldwide. Around the world, several regional ATM programs have been started or introduced without alignment. They cannot be long-term fixes.

Figure 1 Smart Airport Market by Airport, 2022 & 2030 (USD billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Smart Airport Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North America Smart Airport market will dominate this market. The U. S. has recently increased spending on updating its airport systems significantly. Additionally, significant manufacturers like Honeywell International Inc. and Raytheon Technologies Inc. drive market growth in the U.S. and governmental organizations like the Transportation Security Administration (TSA). S. Furthermore, the Hartsfield-Jackson Atlanta International Airport (ATL), the largest international airport in the world, will help this region's market growth. Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2 SMART AIRPORT MARKET SHARE BY REGION 2022 (%)

Europe’s Smart Airport market accounts for the second-largest market share due to the significant investments in replacing outdated systems with more modern ones and the anticipated demand for smart and environmentally friendly airports in the coming years. These airports' cyber-security-based systems are actively being designed, developed, and implemented by the European Union Agency for Cyber-Security (EUAC). It will accelerate market expansion in this area. Further, the German Smart Airport market held the largest market share, and the UK Smart Airport market was the fastest-growing market in the European region.

The Asia Pacific, Smart Airport Market, is expected to grow at the fastest CAGR from 2023 to 2030 during the forecast period and is anticipated to have the fastest growth. Due to a significant increase in air traffic in nations like China, Singapore, and India, the region is anticipated to experience strong market growth during the forecast period. The region is anticipated to experience market growth over the long term. Moreover, the India Smart Airport market held the largest market share, and the China Smart Airport market was the fastest-growing market in the Asia Pacific region.

Smart Airport Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Smart Airport market grow even more. Market participants are also undertaking various strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Smart Airport industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the  Smart Airport industry to benefit clients and increase the market sector. The Smart Airport industry has recently offered some of the most significant medical advantages. Major players in the Smart Airport market, including Honeywell Corporation Inc, Collins Aerospace, SITA, Siemens AG, IBM Corporation, Cisco Systems Inc, Raytheon Company, Kiewit, Larsen &Toubro Amadeus IT Group SA and others, are attempting to increase market demand by investing in research and development operations.

IBM Corporation With its headquarters in Armonk, New York, and operations in more than 175 nations, International Business Machines Corporation (IBM), also known as Big Blue, is an American multinational technology company. It focuses on computer hardware, middleware, and software and offers to host and consult services in fields like mainframe computing and nanotechnology. With 19 research facilities spread across 12 nations, IBM is the largest industrial research organization in the world and has held the record for the most annual U.S. S. patents produced by a company for 29 years, from 1993 to 2021.

Cisco Systems Inc is a multinational corporation with a San Jose, California, headquarters that deals in digital communications technology. Cisco creates, produces, and markets networking hardware, software, telecommunications gear, and other high-tech services and goods. Cisco is an industry leader in niche tech markets, including the Internet of Things (IoT), domain security, videoconferencing, and energy management. Some of its top products include Webex, OpenDNS, Jabber, Duo Security, and Jasper. With over $51 billion in revenue and close to 80,000 employees, Cisco ranks as one of the top 100 technology companies in the world.

Key Companies in the Smart Airport market include

• Honeywell Corporation Inc


• Collins Aerospace


• SITA


• Siemens AG


• IBM Corporation


• Cisco Systems Inc


• Raytheon Company


• Kiewit


• Larsen &Toubro Amadeus IT Group SA

Smart Airport Market Segmentation

Smart Airport Technology Outlook

• Security Systems


• Communication Systems


• Cargo &amp Baggage Handling Control


• Air/Ground Traffic Control


• Passenger


• Endpoint Devices


• Other

Smart Airport Application Outlook

• Aeronautical Operations


• Non-aeronautical Operations

Smart Airport Terminal Type Outlook

• Baggage Handling


• Check-in Systems


• Building Operations


• Sustainable Energy Management

Smart Airport Airside Outlook

• ATM


• Resource Management


• Aircraft Parking


• Aircraft Maintenance

Smart Airport Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America
  
  
  
  

Smart Airport Industry Developments

For instance, September 2022 Self-service bag drop machines and facial recognition technology will be implemented at Tokyo's Narita Airport, according to a plan announced by Japan Airlines (JAL) in October 2019. This technology's introduction will reduce the time it takes to board an aircraft.

For instance, August 2021 The second stage of the ground-breaking smart airport program at Hamad International Airport (HIA) has begun. Facial biometric recognition across all significant passenger locations is a key component of this program's focus on the digital transformation of the passenger's journey.