Smart Airport Market Analysis 2024 - Global Insights, Industry Demand, Growth Trends And Outlook By 2033

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The Smart Airport 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 (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Smart Airport , The smart airport market size has grown rapidly in recent years. It will grow from $7.61 billion in 2023 to $8.66 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to enhanced passenger experience, airline cost reduction, environmental sustainability, efficient airport operations, remote and self-service check-in..

The smart airport market size is expected to see rapid growth in the next few years. It will grow to $14.02 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to smart parking and transportation solutions,predictive analytics for resource management, smart retail and commercial spaces, enhancing security measures. Major trends in the forecast period include biometric passenger boarding, contactless technology adoption, blockchain for security and data integrity, artificial intelligence in airport operations, robotic process automation,5g connectivity for enhanced communication..

Companies in the aviation industry across the world are focusing on green initiatives to protect the environment. Multiple airline companies are trying to become more sustainable. According to the International Council on Clean Transportation (ICCT), air travel produces about 3% of global carbon dioxide emissions, and it is one of the fastest-growing sources of greenhouse gases. In order to reduce emission of greenhouse gases, companies in the aviation market are focusing on taking green initiatives. For example, in October 2021, All Nippon Airways (ANA) a Japan-based aviation company launched SAF Flight Initiative, The SAF Flight Initiative builds on ANA’s previous work blank in this area and wants to collaborate with key partners from a variety of industries to support their efforts to reduce emissions in value chains while also expanding SAF manufacture and use. ANA is adhering to the standards specified in the GHG Protocolblank, which demands corporations to eliminate all emissions, even those created indirectly by activities outside of their primary business.

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The smart airport market covered in this report is segmented –

1) By Services: Smart Transport & Parking Services, Smart Retail, Hospitality & Entertainment Services, Smart Workplace Services, Smart Airport Processes, Smart Business to Business Services

2) By Infrastructure: Endpoint Devices, Communication Systems, Passenger, Cargo and Baggage Ground Handling Control, Air/Ground Traffic Control, Security Systems, Other Infrastructures

3) By Location: Landside, Airside, Terminal Side

4) By Application: Core Applications, Business Applications

5) By End User: Implementation, Upgrades and Services

Technological advances such as the use of Internet of Things (IoT) in aircraft parts and manufacturing procedures a key trend in the smart airport market. Companies across the globe have started implementing cloud-based platforms to develop a new aircraft, engine, system, or component design. The cloud platform enables simplification in the design process by bringing the suppliers, systems integrators, software developers, and other stakeholders within the design and manufacturing ecosystem together over a virtual platform. For instance, in October 2022, SpaceX, a US-based aviation and technology company, launched new service Starlink Terminals that will make its satellite internet network available on planes. This service will deliver internet speeds up to 350 megabits per second (Mbps) per plane while it flies anywhere in the world. Before a Starlink terminal can be put on a plane, the jet’s owner or operator must get a supplemental type certificate from the FAA, which allows the plane to be modified from its original design.

The smart airport market report table of contents includes: