The Airport Technologies Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Airport Technologies Global Market Report 2024, The airport technologies market size has grown strongly in recent years. It will grow from $13.02 billion in 2023 to $13.74 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to air travel growth, security enhancements, passenger experience, sustainability initiatives.
The airport technologies market size is expected to see strong growth in the next few years. It will grow to $16.71 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to smart airports, biometrics and contactless travel, automation and robotics, sustainable practices. Major trends in the forecast period include digital transformation, biometrics and facial recognition, smart security systems, artificial intelligence (ai).
Rise in illegal immigration is a key driver of the airport technologies market. For instance, in May 2023, according to the European Commission, the Belgium-based executive arm of the European Union (EU), focused on policies and regulations, irregular border crossings in Europe surged to 331,400 in 2022, marking a 66% increase compared to 2021. To curb illegal immigration, advanced airport technologies are being increasingly used. In this regard, airport technology in the form of facial recognition has led to many arrests for illegal immigration at airports. Similarly, technologies such as Mobile Passport Control (MPC) and radio-frequency identification (RFID) based tracking solution have been deployed in many airports. The MPC technology uses a mobile app that allows US citizens or visitors from Canada to expedite their entry into the USA. This app has been approved by the U.S. Customs and Border Protection (CBP).
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The airport technologies market covered in this report is segmented –
1) By Type: Airport Digital Signage Systems; Car Parking Systems; Airport Communications; Landing Aids; Guidance and Lighting; Passenger; Baggage and Cargo Handling Control Systems; Airport Management Software
2) By Airport Size: Small; Medium; Large
3) By Application: Domestic Airport; International Airport
The airport technologies market report table of contents includes:
- Executive Summary
- Airport Technologies Market Characteristics
- Airport Technologies Market Trends And Strategies
- Airport Technologies Market – Macro Economic Scenario
- Global Airport Technologies Market Size and Growth
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- Airport Technologies Market Competitive Landscape And Company Profiles
- Global Airport Technologies Market Competitive Benchmarking
- Global Airport Technologies Market Competitive Dashboard
- Key Mergers And Acquisitions In The Airport Technologies Market
- Airport Technologies Market Future Outlook and Potential Analysis
Top Major Players
- Thales ATM S.A.
- Honeywell Airport Solutions Inc.
- Siemens Airports LLC
- Raytheon Technologies Corporation
- Cisco Systems Inc.
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