The Smart Airports market size is projected to grow from USD 7.0 Billion in 2022 to USD 8.3 Billion by 2027, at a CAGR of 3.5% from 2022 to 2027. The increased usage of self-service technology, as well as the growing need for real-time information, are projected to fuel the expansion of the smart airports market.
Smart airports are airports that use new technology capabilities to improve passenger experience and overall operational efficiency. They include intelligent infrastructure, which combines technologies such as the Internet of Things (IOT), augmented reality, virtual reality, block chain, artificial intelligence (AI), big data analytics,5G, Cybersecurity, and robotics to improve security, baggage handling, passenger service, and operational efficiency. These smart airports aim to build a linked eco-system by integrating processes among airlines, retailers, service providers, ground crew, parking facilities, and airport operators by using IoT, data science, and mobile technology advancements.
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Major players operating in the smart airports market include SITA (Switzerland), Siemens AG (Germany). THALES (France), Honeywell International Inc. (US), IBM (US), Cisco System Inc. (US), Amadeus IT Group (Spain), and SITA (Switzerland) Raytheon Technologies Corporation (US), Contracts, partnerships, agreements, new product & service launches, mergers, and acquisitions are among some of the key strategies adopted by the leading market players to strengthen and sustain their position in the smart airports market.
SITA (Switzerland) is a global IT solutions and services provider to the air transport industry. Originally founded by 11 airlines, its members today comprise aerospace manufacturers, tour operators, and airport authorities, among others. The company was created to reduce the shared infrastructure cost by combining airline data and resources. The company has three subsidiaries, which ensure the continuous development of its capabilities, technologies, and resources Most of its production, sales, services, and R&D operations are based in North America, Europe, and Asia Pacific.
THALES (France) is another major player in the smart airports market. It has a strong product portfolio to cater to the needs of the aviation and defense sector. The company is focusing on R&D to develop new products and have a competitive advantage over its competitors. The company is also focusing on securing contracts to enhance its customer base and global market share. The company operates through 4 business segments: aerospace, transport, defense & security, and digital I&S. THALES has developed smart solutions for airports that can increase the operations, in terms of security and efficiency, of airports.
Siemens AG (Germany) is a global electrical engineering and electronics company. It is one of the largest producers of home appliances in Europe. The company functions in the areas of electrification, automation, and digitalization and has production and manufacturing plants situated all over the world. The company operates through various segments, such as Siemens Healthiness, Digital Industries, Smart Infrastructure, Mobility, Portfolio Companies, Siemens Financial Services. The smart infrastructure segment connects energy systems and building technologies. The company has operations in more than 190 countries across the globe.
Cisco Systems Inc.
Cisco Systems Inc. (France) is a global provider of networking solutions. It offers hardware, software, and services to create internet-based solutions. It also manufactures and sells telecommunication equipment and high-technology services and products. Cisco operates through four business segments, namely, Infrastructure Platforms, Applications, Security, Services, and Other Products. The smart infrastructure segment connects energy systems and building technologies. The company has created value and opportunity for its customers, employees, investors, and ecosystem partners by incorporating solutions that leverage technologies such as IoT. Cisco has successfully installed smart airport solutions at Istanbul Grand Airport and Frankfurt Airport, among others.
Smart Airports Market by System, Application ( Landside, Terminal Side, and Airside), Airport Size ( Small, Medium, and Large), End Market, Airport Technology ( Airport 2.0 , Airport 3.0 and Airport 4.0), Operation and Region - Global Forecast to 2027
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