Smart Airport Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2763
Global Smart Airport Market size is driven by the growth in the tourism industry coupled with the increased air travels by passengers all over the world for faster transportation and travel benefits. They are fortified to handle large passenger volume along with offering ease and comfort to the travelers. These airports incorporate varied intelligent technologies such as convenient baggage solutions, managing customer traffic, and systems integrating smartphones for better customer traveling experience. Increasing demand for quick check-ins and easy boarding facilities provided by these airfields by saving passenger’s time & money is fueling the smart airport market growth.
Growing need for using renewable energy sources at such huge infrastructures is a driving factor for the industry. The power consumption in airfields requires a huge amount of electricity, which increases the carbon footprint and atmospheric pollution. The implementation of intelligent technologies allows using renewable energy sources to reduce pollution and achieve sustainable goals. The growing awareness of government for developing intelligent air depots and evolving regulatory mandates in several countries over the world is driving the smart airport market growth.
Factors such as huge investments required for the construction of these airfields coupled with the difficulty in understanding customer preferences are expected to hinder the smart airport market growth. Conventional airports in several countries require technological upgrades; major challenges for the government authorities are the management issues involved in this process along with carrying out the current operations. Challenges in the smart airport market include the development of environmental-friendly solutions for increasing the passenger traffic management, baggage management, and providing cost-effective services to travelers. In addition, frequent failures in the smart systems are hindering the industry demand and the repair & maintenance require a lot of time, resources, and professionals thereby hindering the operations.
The incorporation of AI into the enquiry systems for providing automated answers to questions asked by passengers reduces the human agent involvement. AI aids several operational areas of airfields such as predictive aircraft maintenance, real-time pricing, and efficiency of airlines. For instance, the Beijing International Airport is making use of Alibaba Group’s AI-enabled “Aviation Brain” to ease congestion. The IoT technology is another trend driving the smart airport market growth. The security of passengers in the airfields and the increased threat of terrorist attacks will fuel the smart airport market growth. The integration of intelligent technologies provides efficient management of the security systems by updating the officers with current situations. The implementation of robotics and augmented reality in the industry is increasing the efficiency by providing exceptional customer experience by performing varied tasks such as luggage transportation and identifying the potential security risks.
The cargo and baggage handling segment in the smart airport market is expected to witness growth over the forecast timeline. The growth can be attributed to the increasing customer demand for ease in carrying and receiving the baggage, self-scanning and security check, and direct transfer to the final segment. This process reduces the customer time and efforts as compared to the traditional systems. In the smart airport market, the security system segment is rapidly growing. It can be credited to the rising need for efficient security due to the high risk of terrorist attacks and smuggling of illegal products.
In the smart airport market, the non-aeronautical operations segment is expected to witness a rapid growth over the forecast timeline. The growth is attributed to high investments in the digitization of airfield ecosystem. This segment is the maximum revenue generator at these places and aids in enhancing the customer experience by providing personalized services.
Asia Pacific smart airport market is anticipated to witness a substantial growth over the forecast timespan. The growth in the emerging economies in the region including China, India, Singapore, etc., is increasing due to high government investments in infrastructure transformation and providing world-class services and facilities to passengers. The increased popularity of the tourism industry in India and the emergence of industrialization are encouraging the consumption of air travel facilities. The growth in the disposable income of individuals and their willingness to spend more on leisure provided in air travel are further fueling the smart airport market demand.
Key players operating in the smart airport market include Rockwell Collins, Honeywell International Inc., Siemens AG, IBM Corporation, SITA, T-Systems International GmbH, Cisco Systems, and Amadeus IT Group SA. Several companies have adopted strategies such as new product development & innovations, mergers, and acquisitions in the smart airport market. For instance, Huawei has partnered with Dubai Airport to build world’s first Tier 3 modular data center that will provide a stable and reliable environment for the airports to host its private cloud.
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