Smart Airport Global Market 2024 To Reach $14.02 Billion By 2028 At Rate Of 12.8%

The Business Research Company's Smart Airport Global Market 2024 To Reach $14.02 Billion By 2028 At Rate Of 12.8%

LONDON, GREATER LONDON, UNITED KINGDOM, October 9, 2024 /EINPresswire.com/ -- The smart airport market has experienced robust growth in recent years, expanding from $7.61 billion in 2023 to $8.66 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to enhanced passenger experience, airline cost reduction, environmental sustainability, efficient airport operations, and remote and self-service check-in.

What Is The Estimated Market Size Of The Global Smart Airport Market And Its Annual Growth Rate?
The smart airport market is projected to continue its strong growth, reaching $14.02 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to smart parking and transportation solutions, predictive analytics for resource management, smart retail and commercial spaces, and enhancing security measures. Major trends in the forecast period include biometric passenger boarding, contactless technology adoption, blockchain for security and data integrity, artificial intelligence in airport operations, robotic process automation,5g connectivity for enhanced communication.

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Growth Driver Of The Smart Airport Market
Companies in the aviation industry across the world are focusing on green initiatives to protect the environment. Multiple airline companies are trying to become more sustainable in the market. According to the International Council on Clean Transportation (ICCT), air travel produces about 3% of global carbon dioxide emissions, and it is one of the fastest-growing sources of greenhouse gases. In order to reduce the emission of greenhouse gases, companies in the aviation market are focusing on taking green initiatives.

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Who Are the Leading Competitors in the Smart Airport Market Share?
Key players in the smart airport include Amadeus IT Group SA, CISCO System Inc., Collins Aerospace, Daifuku Co. Ltd., Ascent Technologies Inc., Honeywell International Inc., Huawei Technologies Co. Ltd., International Business Machines Corporation, Indra Sistemas S. A., ITALIA TRASPORTO AEREO S. P. A., L3Harris Technologies Inc., Raytheon Technologies Corporation, RESA, Lufthansa Systems GmbH & Co. KG., Sabre Corporation, Siemens AG, Société Internationale de Télécommunications Aéronautiques, Thales Group, T-Systems International GmbH, Vision-Box Inc., Wipro Limited, Zensors. Inc., ADELTE - The Boarding Company, Ansul, Deerns Airport System Consultants, FB TECHNOLOGY, Gentrack Group Limited, Beumer Group GmbH & Co. KG, Bosch security systems GmbH, Schneider Electric SE.

Which Key Trends Are Driving Smart Airport Market Growth?
Technological advances such as the use of Internet of Things (IoT) in aircraft parts and manufacturing procedures a key trend in the market. Companies across the globe have started implementing cloud-based platforms to develop a new aircraft, engine, system, or component design. The cloud platform enables simplification in the design process by bringing the suppliers, systems integrators, software developers, and other stakeholders within the design and manufacturing ecosystem together over a virtual platform.

How Is The Global Smart Airport Market Segmented?
1) By Services: Smart Transport & Parking Services, Smart Retail, Hospitality & Entertainment Services, Smart Workplace Services, Smart Airport Processes, Smart Business to Business Services
2) By Infrastructure: Endpoint Devices, Communication Systems, Passenger, Cargo and Baggage Ground Handling Control, Air/Ground Traffic Control, Security Systems, Other Infrastructures
3) By Location: Landside, Airside, Terminal Side
4) By Application: Core Applications, Business Applications
5) By End User: Implementation, Upgrades and Services

Geographical Insights: North America Leading The Smart Airport Market
North America was the largest region in the smart airport market in 2023. Asia-Pacific is expected to be the fastest-growing region in the smart airport market forecast period. The regions covered in the smart airport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Smart Airport Market Definition
The smart airport market refers to airports that rely on the use of connected technologies such as intelligent building management, cyber security, GPS and sensor, Internet of Things (IoT), blockchain, and Artificial Intelligence (AI) to enable operational employees to perform planning and operational chores digitally while also optimizing passenger flows and staff activities around the airport.

Smart Airport Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global smart airport market report covering trends, opportunities, strategies, and more
The Smart Airport Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on smart airport market size, smart airport market drivers and trends, smart airport major players and smart airport market growth across geographies. The smart airport market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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The Business Research Company
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