[199 Pages Report] 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.
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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. Factor such as increasing passenger traffic, need for up gradation of check-in services, baggage handling services, security system among others are driving the smart airports market. In addition, the need for real-time information is further expected to drive the smart airports market. The market has been segmented based on technology, airside, terminal, landside, application, and region.
Based on technology, the smart airport market has been segmented into Security Systems, Communication Systems, Passenger, Cargo & Baggage Handling Control, Air/Ground Traffic Control, Endpoint Devices, and Other technologies. The communication systems segment is anticipated to grow at the highest CAGR during forecast period. Rising need for real-time information is one of the factor, airports are adopting smart technologies for smooth flow of communication between disparate systems and end users.
Based on airside, the market has been segmented into Air Traffic Management, Resource Management, Aircraft Parking, Aircraft Maintenance, and Others. The air traffic management segment accounted for the largest share in 2016, owing to the investments and developments made to overcome airspace congestions and high adoption rate of ground-based augmented system (GBAS) in airports.
The terminal side segment of the smart airport market includes Baggage Handling, Check-in Systems, Building Operations, and Sustainable Energy Management. The lower installation costs involved in upgrading self-check-in system as compared to other subsegments is likely to drive this segment
Based on landside, the market has been segmented into Vehicular Parking, Security, and Intelligent advertising. The vehicular parking segment is anticipated to witness a higher growth, since vehicle parking is one of the key sources of income for majority of airports.
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