Global Smart Airports Market Forecast 2026
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The “Global Smart Airports Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026” research study presented on Decisiondatabases.com gives a detailed description of the market growth, trends, and forecast for the global smart airports market. The report predicts that the global smart airports market would reach USD 24 BN by 2026 along with a CAGR of 9% within the forecasted period between 2020 to 2026. The smart airports market was valued close to USD 13.5 BN in 2019.
Airports are the passageways to a country or city they are located in thus creating the first impression of those locations for the visitors. Airports are no longer just a venue of waiting and passing through in order to board flights, but they provide passengers the feel of being in the city with areas reserved for entertainment, gathering and information portals. Smart airports provide high-resolution imaging and advanced data processing for facial recognition, offering improved flow management and security processing. It provides guidance to passengers with the involvement of several components such as passenger reservation and information systems, freight operations information systems, air traffic management, operations and baggage and check-in management, security monitoring based on IP, communications, ticketing and airways analytics.
The increase in the expenditure on IT for airport infrastructure, the introductionofautomated& connected airport processes and increased awareness on IoT are the key drivers responsible for the growth of the global smart airports market. Besides, these airports now also have commercial spaces, transportation hubs, shopping centers, recreational spots and other hospitality elements that help attract tourists and travelers around the globe thus leading to the growth of the global smart airports market. However, the high investment required initially may act as a hindrance towards the growth of the global smart airports market.
Based on technology, security systems, communication systems, passenger, cargo & baggage ground handling control and air/ ground traffic control are the segments of the global smart airports market.
By application, aeronautical operations and non-aeronautical operations are the segments of the global smart airports market as per the report.
By location, the global smart airports market is classified based on landside, airside and terminal side. They are further sub-classified into vehicular parking, security and advertisement based on landside. Airside is sub-classified into air traffic management (ATM), resource management and aircraft parking & maintenance. The terminal side is further sub-classified into building operations, baggage handling and check-in systems.
By geography, North America, Europe, Asia Pacific, Latin America and Middle East & Africa are the segments of the global smart airports market as per the report.
The report also covers the complete competitive landscape of the worldwide market with the company profiles of key players such as Amadeus IT Group SA, Cisco Systems Inc., Honeywell International Inc., International Business Machines Corporation (IBM), QinetiQ Group Plc., Rockwell Collins Inc., Sabre Corporation, Siemens AG, T Systems International GmbH and Thales Group. Information in terms of H.Q, future capabilities, key mergers & acquisitions, financial outlines, partnerships and new product launches & developments have been given for each company profile in the report.
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