(Aviation-NewsWire.Com, June 21, 2019 ) 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
According to the new market research report "Smart Airports Market by Technology (Communication, Security, Cargo & Baggage Handling, Traffic Control, Endpoint Devices), Landside, Airside, Terminal Side, Application, Region - Global Forecast to 2021", The smart airport market is projected to reach USD 14.9 billion by 2021, at a CAGR of 5.6% from 2016 to 2021. Factors such as travelers’ growing needs for real-time information and airports moving towards customer centric approach are expected to drive the growth of the smart airports market.
Browse 118 market data tables and 67 figures spread through 199 pages and in-depth TOC on “Smart Airports Market - Global Forecast to 2021”
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.
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.
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.
Don’t miss out on business opportunities in Smart Airports Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including: