Global Smart Airports Market to Exhibit a Decent CAGR of 9.2% by 2031

The global Smart Airports market is forecast to grow at 9.2% annually from USD 12.4 Billion in 2019 to USD 29.35 Billion in 2029.

Growing Demand

Introducing devices with new features, such as customer identification by unique heartbeat patterns with biometric signatures or biodynamic signatures, and the deployment of artificial Intelligence technology across airports supports the management and control of large airport databases.

One trend in the industry today is to commercialize and develop new intelligent technologies. These include automatic check-in, flight book management, document and baggage check, and a digital ecosystem. Airports are becoming more tech-enabled, using devices like intelligent luggage systems and on-site IoT applications to improve customer experience.

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New technologies are being used by the industry to increase automation in various airport processes, including near-field communication (NFC), Augmented Reality(AR), and Quick Response (QR) codes. Over the forecast period, there will be new market opportunities due to increased demand for biometric airport devices.

Driving Factors

To Increase Growth, Air Passengers Needed to Travel to Developed Countries are Growing

The market for smart airports will grow due to the increasing commercial aviation industry and the rising preference for air travel throughout the globe. According to IATA, an additional 44% of air passenger traffic will likely come from India or China within the next ten years. The Asia Pacific is predicted to be the fastest-growing area for air passenger traffic in the coming decade. To minimize the environmental impact, developed country governments are eager to invest in greener airports and smarter airport initiatives. Smart parking is an emerging concept in these airports. This will accelerate the growth of this market.

To promote the growth of the market, there is a growing focus on customer-centric approaches

With the support of critical companies, governments in developed countries are creating intelligent airports. Modern technologies at airports will improve the passenger travel experience. To speed up passenger waiting times, airports have replaced their older systems with more advanced and automated ones. The demand for eco-friendly systems and airports is expected to increase. This will fuel the growth of smart airports.

Restraining factors

High-end Smart Airports, Components, and Costs that Hinder Growth

Modern and automated security systems simplify boarding an airplane at an airport. However, the high prices involved in developing and implementing digitalized systems would limit the market growth. They need a mixture of different subsystems and electronic components to provide real-time data to the airport authority. The cost of developing, launching, and maintaining these digital systems is high. These systems and services are expensive, so airport authorities outsource their security services to third-party providers, such as Securitas AB, G4S Plc, etc. The high cost and the lengthy time needed to install, develop, and deploy digital technologies at airports will hinder growth in this market.

Recent Development

May 2019 – Hamad International Airport HIA has launched the second phase of its innovative smart airport program. This program focuses heavily on the digital transformation of passenger journeys via facial biometric identification across all key passenger locations.

October 2019 – Japan Airlines (JAL) has announced its plans to bring self-service bag drop machines and facial recognition technology into Tokyo’s Narita Airport. This technology will decrease the operational time needed to board an airliner.

Key Companies

  • Honeywell International Inc.
  • United Technologies Corporation (UTC)
  • SITA
  • Siemens
  • Amadeus IT Group SA
  • NEC Corporation
  • Damarel
  • International Business Machines Corporation

Key Market Segments

Type

  • Technology Type
  • By Solution

Application

  • Aeronautical Application
  • Non-Aeronautical Application

Frequently Asked Questions

  • How big is the smart airport market?
  • What are the most recent developments in intelligent aviation?
  • Where can I find sample reports/company profiles on the smart airport industry?
  • What are the following trends in smart airport marketing?
  • What are the market trends in smart airports?
  • How do I get company profiles for the top ten players within the smart-airport industry?
  • Who holds the most significant market share at smart airports?
  • Which mature markets are growing fastest in the smart aviation industry?
  • What are the most critical factors affecting the smart-airport market?

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About the author

Avatar of Linda Hohnholz

Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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