The worldwide airport asset tracking market was valued at USD 600 million in 2020 and is expected to grow to USD 810 million by 2033, with a CAGR of 4.3% over the forecast period.
Airport asset monitoring systems assist in tracking airport properties such as machine shops, workshops, and storage facilities. The asset tracking system records maintenance history, tracks position, and provides a comprehensive perspective of airport operations. The asset tracking system is software that collects data based on asset performance to determine whether the assets are performing properly. The asset tracking software solution is more efficient than the job done by airport employees. Real-time asset tracking may be provided by a variety of technologies, including RFID (Radio-frequency identification), BLE (Bluetooth low energy), GPS (Global Positioning System), and IoT. For example, radio frequency identification is used to track assets.
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Airport Asset Tracking Market Segmentation
By Application
- Fleet Management
- Luggage Tracking
- Maintenance Management
- Security Management
Key Company
Ctrack (Inseego Corp.), Tri-Logical Technologies Ltd., TracLogik, FLEETCOR Technologies, Inc., Vodafone Group plc, Telematics Wireless Ltd., Litum Group, Ubisense Group plc, Targa Telematics S.p.A., Geotab Inc., RRAMAC Connected Systems, Unilode Aviation Solutions, CTT Systems AB, SITA, Cognosos
Regional Insights
The North American area now dominates the airport asset tracking industry. This is attributed to the region’s high rate of sophisticated technology adoption, as well as the existence of multiple important market participants. The United States and Canada account for the majority of the airport asset tracking market in North America. Europe is also an important market for airport asset tracking, with nations including the United Kingdom, Germany, and France playing prominent roles.
The Asia Pacific region is likely to see considerable expansion in the airport asset monitoring market in the coming years, owing to increased air traffic and a growing need for efficient airport operations in countries such as China and India. Overall, the airport asset monitoring market is likely to expand rapidly in the coming years, driven by rising demand for efficient airport operations and the need to improve the passenger experience.
Airport Asset Tracking Trend
Integration with IoT and Big Data: To facilitate real-time asset monitoring and airport operations optimization, UAE airports are progressively combining asset tracking technologies with the Internet of Things (IoT) and Big Data analytics. Airports can track assets in real time, gather information on asset utilization trends, and spot optimization possibilities by utilizing IoT sensors and devices.
RFID Technology Use: In UAE airports, radio frequency identification, or RFID, technology is extensively employed to track assets such as baggage. Baggage and other assets can be equipped with RFID tags, which enable real-time tracking of their position and status. Airports in the United Arab Emirates are investing in mobile asset monitoring systems to keep an eye on the vehicles and equipment that move about the airport, such as fuel trucks and luggage carts. Airports may maximize asset utilization and minimize downtime by using mobile asset monitoring technologies, which can offer real-time location and use data.
Predictive maintenance: To optimize maintenance schedules and minimize downtime, airports in the United Arab Emirates are utilizing predictive maintenance technologies. Advanced analytics and machine learning algorithms are used by predictive maintenance systems to anticipate equipment breakdowns and plan maintenance in advance.
Airports in the United Arab Emirates are becoming increasingly concerned about asset security, and asset monitoring systems are being employed to strengthen security protocols. Airports can monitor asset movement, identify theft or loss of assets, and set up warnings in the event of any suspicious activity with the use of asset monitoring technologies. Generally, as airports engage in cutting-edge technologies to optimize operations, boost efficiency, and enhance security, the UAE airport asset tracking market is witnessing substantial development and innovation.
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