Smart Airport Market Report

Market Insights

The Smart Airport market is projected to grow from USD 2.2 billion in 2020 to USD 4.4 billion by 2026 at a CAGR of around 12.5% during the forecast period.

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the Smart Airport market. The historic years considered for the study are 2016-2019, base year is 2020, and forecast period is 2021-2026.

Figure: Smart Airport Market Size, 2020-2026 (USD Billion)

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Smart Airports can be defined as airports which rely on the use of advanced technologies such as GPS, internet of things (IoT) devices, and sensors for various purposes including planning and operations tasks digitally, optimising passenger flows, and supporting operational staff among others.

Key Players

Key players operating in the Smart Airport market are-

• Ascent Technology, Inc. (US)
• Cisco Systems (US)
• Honeywell International Inc. (US)
• Huawei Investment & Holding Co., Ltd. (China)
• International Business Machines Corporation (US)
• Indra Sistemas, S.A. (Spain)
• L3Harris Technologies Inc. (US)
• Raytheon Technologies Corporation (US)
• SITA (Switzerland)
• Thales Group (France)

Market Dynamics

The growth of the smart airport market is driven by growing integration of advanced technologies such as machine learning, internet of things and artificial intelligence in airports across geographies. Superior benefits of smart airports such as increased efficiency, security and productivity is expected to drive the market growth at a significant rate during the review period. In addition to this, development of smart airports in the developing countries is expected to create lucrative growth opportunities for the players operating in the global market.

Segment’s Analysis

System Trends

Based on system, the market has been segmented into communication & network systems, endpoint devices, data storage and software & solutions. Among these, the communication & network systems segment accounted for the largest market share in 2020 and is expected to propel the market growth at a significant rate during the review period.       

Regional Trends

The market in North America region accounted for the largest market share in 2020 and is expected to grow at a healthy CAGR during the review period. The regional market growth can be attributed to widespread adoption of advanced technologies in the airports coupled with presence of key market players such as Ascent Technology, Inc. (US) and Cisco Systems (US). The market growth in Asia-Pacific region is likely to be driven by increasing focus on development of smart airporta particularly in the developing countries including China and India.                       

COVID-19 Impact on Smart Airport Market

The outbreak of COVID-19 virus has impacted the growth of the smart airport positively as adoption of advanced technologies increased significantly to optimize operation efficiency and support working staff.

Critical Questions Answered in the Report

• What are the key trends in the Smart Airport market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on Smart Airport market?
• What are the key strategies adopted by the major vendors to lead in the Smart Airport market?
• What is the market share of the top vendors?

Target Audience

The target audience of Smart Airport Market includes-

• Smart airport distributors
• Smart airport suppliers
• Smart airport manufacturers
• Logistics organizations
• Government bodies