HOME › Press Releases › Smart Airport Market worth 14.87 Billion USD by 2021
Smart Airport Market worth 14.87 Billion USD by 2021
The report "Smart Airports Market by Technology (Communication, Security, Cargo & Baggage Handling, Traffic Control, Endpoint Devices), Landside, Airside, Terminal Side, Application, Region - Global Forecast to 2021", The smart airports market is projected to grow from USD 11.31 Billion in 2016 to USD 14.87 Billion by 2021, at a CAGR of 5.64% during the forecast period. The base year considered for the study is 2015, and the forecast period is from 2016 to 2021.
Browse 118 market data tables and 67 figures spread through 199 pages and in-depth TOC on “Smart Airports Market - Global Forecast to 2021”
Early buyers will receive 10% customization on reports.
Factors such as travelers’ growing needs for real-time information and airports moving towards customer centric approach are expected to drive the growth of the smart airports market.
The passenger, cargo & baggage ground handling control segment accounted for the largest market share in 2016
Based on technology, the passenger, cargo & baggage ground handling control segment of the smart airports market accounted for the largest market share in 2016. The increase in the adoption of new systems such as automated collection of fees at the self-bag drop, self-scanning, and direct transfer to the final destination is driving this segment. Furthermore, increased concern for safety and improved customer service are also the driving the passenger, cargo & baggage ground handling control segment.
The non-aeronautical operations segment of the smart airports market is expected to witness higher growth during the forecast period
Based on application, the non-aeronautical segment of the smart airport is anticipated to witness higher growth during the forecast period. The constant drive to increase non-aeronautical revenue opportunities has been a priority for airport business models. Services such as food-and-beverages, advertising, retail outlet, smart parking, personalized services, Wi-Fi, and lounge access are key resources for generating overall airport profitability. This increasing demand for non-aeronautical operations and revenues are expected to propel the growth of non-aeronautical operations segment during the forecast period.
The smart airports market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period
The smart airports market in Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period. The rise in passenger movement has led the airports to upgrade services and technologies such as security systems, communication systems, and baggage & cargo handling systems, among others for secure and hassle free operations. Moreover, airport authorities have approved the major development of greenfield airport which led to the increase in investments in countries such as India and China.
Key players in the smart airports market include Honeywell Corporation Inc (U.S.), Rockwell Collins (U.S.), SITA (Switzerland), Siemens AG (Germany), IBM Corporation (U.S.), and Amadeus IT Group SA (Spain) among others.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India