The Business Research Company’s Smart Airport Global Market Report 2022 – Market Size, Trends, and Global Forecast 2022-2026
Over a celebratory weekend with Father’s Day, and especially in the US with the new federal holiday, Juneteenth, the 17th of June has been the most popular day for air travel so far in 2022. However, with the airport industry’s deadly trio of a lack of staff, infrastructure challenges, and bad weather conditions – thousands of flights were either delayed or cancelled.[i] While difficult to solve these various issues at once for smooth operations, the implementation of advanced technologies in airports can certainly provide better systems and a safeguard against future holiday travel crowds, which will come up quick this summer.
Smart airports utilize advanced technologies such as intelligent building management, cyber security, GPS and sensor, Internet of Things (IoT), blockchain, and Artificial Intelligence (AI). The main types of smart airport services include smart transport and parking services, smart retail, hospitality and entertainment services, smart workplace services, smart airport processes, smart business to business services. By infrastructure, types of smart airport products include endpoint devices, communication systems, passenger, cargo, and baggage ground handling control, air/ground traffic control, security systems, and others. Smart airport products and services are used in landside, airside, and terminal side locations.
As per data on the Global Market Model, the global smart airport market size is expected to grow from $6.18 billion in 2021 to $6.90 billion in 2022 at a compound annual growth rate (CAGR) of 11.53%. The global smart airports market size is expected to grow to $12.32 billion in 2026 at a CAGR of 15.61%.
Major players in the smart airport market are Amadeus IT Group SA, CISCO System Inc., Collins Aerospace, Daifuku Co. Ltd., Ascent Technologies, Honeywell International Inc., Huawei Technologies Co. Ltd., IBM Corporation, Indra Sistemas S.A., ITA, among others.
With the growing number of air transport passengers, there is an increase in the carbon footprint of the air transport industry as well. 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.
North America is the largest region in the smart airport market. Asia Pacific is expected to be the fastest-growing region in the global smart airport market during the forecast period. The regions covered in TBRC’s global smart airport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Other reports of interest in the Air Transport Industry from The Business Research Company:
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