Smart Airport Market Analysis | 2022-2026

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".

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Market Dynamics

Introduction

The Smart Airport Market refers to the use of advanced technologies and innovative solutions to enhance various aspects of airport operations, passenger experiences, security, and efficiency. Smart airports leverage technologies such as the Internet of Things (IoT), artificial intelligence (AI), biometrics, big data analytics, and automation to improve processes and provide seamless travel experiences.

Market Drivers

Surge in Air Passenger Travel in Developed Countries:

The global commercial aviation market is expected to grow rapidly due to the expanding industry and increasing global air travel preferences. China and India are predicted to account for 44% of air passenger traffic in the next decade, with the fastest growth in the Asia Pacific region. Governments in industrialized nations are investing in green airports and smart airport initiatives to reduce environmental impact. Smart parking is also a developing concept in airports, which will fuel market growth over the study period.

Increasing Focus on Customer-Centric Approaches:

Governments in developed countries are collaborating with key companies to design and develop smart airports, aiming to simplify passenger travel experiences and reduce waiting times. The growing demand for eco-friendly systems and airports is driving the demand for smart and green airports, thereby driving market growth.

COVID-19 IMPACT

The COVID-19 pandemic significantly impacted the aviation market between 2020 and 2021, leading to a decline in passenger traffic and income for airlines. The closure of global borders and increased international travel led to a decline in passenger numbers, forcing operators to find alternative income sources. As of March 2020, airlines were losing money due to reduced passenger numbers, aircraft hangars, maintenance, insurance, and operating expenses. Strict rules, border closures, and travel phobias have forced airlines to focus on cargo, causing significant financial losses.

Segment Analysis

System Trends

"Communication & network systems segment accounted for the largest market share in 2020"

Based on the 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.   

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Regional Trends

"North America region accounted for the largest market share in 2020"

The market in the 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 the widespread adoption of advanced technologies in the airports coupled with the presence of key market players such as Ascent Technology, Inc. (US) and Cisco Systems (US). The market growth in the Asia-Pacific region is likely to be driven by an increasing focus on the development of smart airports particularly in developing countries including China and India.       

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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)

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

What Deliverables Will You Get in this Report?

Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories. 

By System

• Communication & Network Systems
• Endpoint Devices
• Data Storage
• Software & Solutions

By Location

• Landside
• Airside
• Terminal Side

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.