Global NEWS: The Smart Airport Market is
projected to reach USD 14.9 billion by 2021, at a CAGR of 5.6% 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”
Know more about the Global 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 self-scanning, automated
collection of fees at the self-bag drop, and direct transfer to the final
destination are major factors driving this segment. Furthermore, increased
concern for safety and improved customer service are also the driving the
passenger, cargo & baggage ground handling control segment.
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| Smart Airports Market |
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 projected to
have a high growth rate 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 drive 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 estimated 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 in countries such as India and China which led to the
increase in investments in this region. Heavy investment in upgrading existing
airports, developing new airports with advanced features such as facial
recognition software for immigrations, advanced baggage handling systems and
advanced security systems such as Computed Tomography (CT) scanners and Full
Body Scanners will have an impact on the smart airports market.
Press Release:
Key players in the
smart airports market include Honeywell Corporation Inc (US), Rockwell Collins
(US), SITA (Switzerland), Siemens AG (Germany), IBM Corporation (US), and
Amadeus IT Group SA (Spain) among others.
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