Smart Airports Market to be Worth $10.16 Billion by 2030

Smart Airports Market to be Worth $10.16 Billion by 2030

Global XXX Market 2016-2022 Meticulous Research a leading global market research company, published a research report titled, 'Smart Airports Market by Offering (Systems, Services), Application (Terminal Side (Baggage Management, Passenger Management, Resource Management, Others), Airside, Ground Side), Technology (AI, IoT, 5G, Others), & Geography - Global Forecast to 2030. According to this latest publication from Meticulous Research , the smart airports market is projected to reach $10.16 billion by 2030, at a CAGR of 7.8% from 2023 to 2030. The growth of this market is driven by the rising investments in advanced technology at airports, the widespread adoption of self-service solutions, and the increased utilization of smart solutions to enhance non-aviation revenue. Moreover, the growing adoption of smartphones for a seamless check-in process and the rising adoption of automated baggage handling systems are expected to create significant growth opportunities for stakeholders in the smart airports market. However, concerns related to data privacy and security may restrain the market s growth. Additionally, issues associated with technology integration are some of the challenges for the growth of the smart airports market. Furthermore, the increasing use of AI and 5G technology in airports and the growing adoption of biometric technology for automated identity verification are notable trends in the market. Based on offering, the global smart airports market is broadly segmented into systems and services. In 2023, the systems segment is expected to account for the larger share of the global smart airports market. The large market share of this segment can be attributed to factors such as the rising adoption of smart airport systems to enhance the overall travel experience for passengers, the rising investments in advanced technology at airports, and the increasing initiatives aimed at implementing top-tier security and cybersecurity measures at airports. For instance, in May 2023, Amadeus IT Group SA (Spain), a technology company dedicated to the travel industry, signed an agreement with Noida International Airport Limited to provide a passenger processing system (PPS). Through this collaboration, Amadeus will design, supply, commission, operate, and maintain the cloud-hosted end-to-end PPS for the airport. Moreover, the systems segment is projected to register the highest CAGR during the forecast period. This growth can be attributed to the growing demand for online and mobile check-in solutions at airports to streamline check-in processes and the increasing adoption of self- service solutions at airports. Furthermore, initiatives by key players to launch airport solutions are expected to contribute to the growth of this segment. For instance, in June 2022, Thales Group (France), a global technology leader, launched HELIXVIEW. This innovative, stationary, compact, and lightweight Cabin Baggage Explosive Detection System (EDS CB) enables passengers to keep items in their luggage during security checkpoints. Page 1 of 5 Meticulous Research| sales@meticulousresearch.com

Global XXX Market 2016-2022 Based on application, the global smart airports market is broadly segmented into terminal side, landside, and airside. In 2023, the terminal side segment is expected to account for the largest share of the global smart airports market. The large market share of this segment can be attributed to the growing integration of baggage handling systems at airports, an increase in passenger traffic, and the increased deployment of digital signage for various purposes, such as advertising, emergency notifications, and way-finding information. Additionally, the rising utilization of smart airport solutions is expected to fuel the growth of this segment. For instance, in October 2023, Munich Airport introduced baggage trolleys equipped with built-in smart technology, enabling travelers to receive flight information and real-time updates via a built-in tablet. Similarly, in August 2023, an intelligent computer vision platform was installed at Bengaluru airport in India. This platform collects images from 500 live camera feeds, allowing airport staff to efficiently track everything from people to unattended luggage and manage passenger flow more effectively at congestion points. Furthermore, the terminal side segment is projected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to several factors, including the increasing demand for smart technology to provide passengers with flight information and real-time updates, the widespread adoption of 5G technology in airports to enhance communication, and the rising deployment of AI robots in passenger terminals. Additionally, the rising investments aimed at digitizing airports are expected to contribute to the growth of this segment. For instance, in August 2022, the Israel Airports Authority (IAA) announced an investment of more than USD 15 million (ILS 50 million) to initiate the digital transformation of Ben Gurion International Airport with the aim of reducing passenger overloads and shortening waiting times. Based on technology, the global smart airports market is segmented into AI, IoT, cloud computing, blockchain, big data and analytics, 5G, and other applications. In 2023, the IoT segment is expected to account for the largest share of the global smart airports market. The large market share of this segment can be attributed to the increased adoption of location tracking and facial recognition solutions, the increasing use of electronic tags and sensors for baggage tracking and tracing, and the growing deployment of IoT cameras equipped with facial recognition features to enhance safety at airports. Furthermore, airports are leveraging the capabilities of IoT to enhance passenger experience and enable smooth operations and inventory management. For instance, in November 2020, GMR Hyderabad International Airport (India) introduced IoT (Internet of Things) enabled Smart Baggage Trolleys to track and maintain the availability of baggage trolleys for passengers in real time across the airport. However, the AI segment is projected to register the highest CAGR during the forecast period. This growth is driven by the increasing adoption of AI to automate and optimize various airport processes, including baggage handling and security screening, and process large amounts of data to provide actionable insights to airport management. Additionally, the rising use of AI solutions for forecasting passenger demand contributes to the segment's growth. For instance, Abu Dhabi International Airport is leveraging big data and AI to implement the 'Smart Page 2 of 5 Meticulous Research| sales@meticulousresearch.com

Global XXX Market 2016-2022 Travel' system, aimed at improving passenger experience. Similarly, Eindhoven Airport in the Netherlands utilizes AI to enhance the turnaround process. Moreover, the increasing investments aimed at integrating AI to enhance operational performance are anticipated to drive the growth of this segment. For instance, major airlines such as Delta Air Lines (U.S.), American Airlines (U.S.), and JetBlue (U.S.) are making substantial investments in AI to optimize their respective operations. Based on geography, the global smart airports market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global smart airports market. North America s major market share can be attributed to the increased spending on technology by airports, the growing implementation of self-service solutions, increased deployment of biometric boarding to manage passenger traffic, and the rising adoption of smart solutions to address flight delays and cancellations. Some of the recent developments are as follows: In May 2023, Honeywell International Inc. (U.S.), a company operating in areas such as aerospace, building technologies, and performance materials and technologies, launched an updated suite of airside solutions, with enhancements to its gate and turnaround and airfield lighting portfolios, including the Honeywell NAVITAS Smart Visual Docking system. In May 2022, Miami International Airport (MIA) announced its plans to implement biometric boarding for international flights across all of its 130+ gates in collaboration with SITA (Switzerland), with the expected completion by 2023. The market in Asia-Pacific is projected to register the highest CAGR during the forecast period. The growth of this regional market is driven by factors such as the increasing investments in the construction of new airports and expansion of existing ones, a rapid surge in passenger traffic in countries like China, India, Japan, and South Korea, the widespread adoption of automation technologies throughout airports, and a growing emphasis on partnerships between airports and key market players for digital transformation. Furthermore, airports in the region are digitizing processes such as online check-ins, e- boarding passes, and real-time flight updates, contributing to the market s growth. For instance, Asiana Airlines, Inc., a South Korean airline, facilitates seamless check-in through its web homepage or mobile app and provides passengers with e-boarding passes in advance. Some of the recent developments are as follows: In July 2021, Bangalore International Airport Limited (BIAL), operator of Kempegowda International Airport, Bengaluru, partnered with IBM Corporation (U.S.) to accelerate Page 3 of 5 Meticulous Research| sales@meticulousresearch.com

Global XXX Market 2016-2022 digital and IT transformation. Under this ten-year partnership, IBM Corporation (U.S.) and Kyndryl Inc. (U.S.) will provide IT solutions to create a new Airport in a Box platform to enhance the end-to-end travel experience for passengers at BLR Airport. In August 2022, Accenture plc (Ireland) and Changi Airport Group (Singapore) extended their collaboration for another three years to transform operations and enhance the experience for travelers visiting Singapore Changi Airport. Key Players: Some of the key players operating in the global smart airports market are Honeywell International Inc. (U.S.), Collins Aerospace (U.S.), SITA (Switzerland), Siemens AG (Germany), Daifuku Co., Ltd. (Japan), Amadeus IT Group SA (Spain), Huawei Technologies Co., Ltd. (China), T Systems International GmbH (Germany), Cisco System, Inc. (U.S.), IBM Corporation (U.S.), Thales Group (France), Schneider Electric SE (France), Wipro Limited (India), Veovo (U.K.), Sabre Corporation (U.S.), Ascent Technology (U.S.), Leidos, Inc. (U.S.), and Gorilla Technology Group Inc. (U.K.). Download @ https://www.meticulousresearch.com/download-sample- report/cp_id=5737 Sample Report Here Key questions answered in the report: What are the high-growth market segments in terms of offering, application, and technology? What is the historical market size for smart airports across the globe? What are the market forecasts and estimates for 2023 2030? What are the major drivers, restraints, opportunities, and challenges in the global smart airports market? Who are the major players in the global smart airports market, and what are their market shares? What is the competitive landscape like? What are the recent developments in the global smart airports market? What are the different strategies adopted by the major players in the market? What are the geographic trends and high-growth countries? Contact Meticulous Email- sales@meticulousresearch.com Us: Research Page 4 of 5 Meticulous Research| sales@meticulousresearch.com

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