Global Smart Airport Market Record an Opportunity of US$ 25,400 Mn during 2021-2027 | Registering a Growth at a CAGR of 10.9% - Astute Analytica

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Jan 11, 2022, 06:30 ET

NEW DELHI, Jan. 11, 2022 /PRNewswire/ -- The smart airport market generated a revenue of US$ 29,463.1 Mn across the globe in 2021 and it is projected to record a revenue of US$ 54,862 Mn by the end of the year 2027. The market is expected to register a growth at a CAGR of 10.9%.

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Smart airports use advanced technologies such as cyber security, intelligent building management, Internet of Things (IoT), GPS and sensor, Artificial Intelligence (AI), and blockchain. In 2019, the U.S. Transportation Security Administration uses AI to help target threats, at Los Angeles International Airport, John F. Kennedy, and Phoenix airports. Thus, advanced technologies improve airport processing and information efficiency.

Growth of air-travel and tourism industry attributes to the growth of the smart airport market across the globe. The growth of air travel and tourism has been one of the most prominent socio-economic phenomena of the post-financial crisis in 2008. Currently, some 4.5 billion passengers are carried by scheduled international airlines and this figure is projected to double before the end of 2029. Further, the tourism sector in many countries of the world has been profoundly shaped by the continual development of air services. The advances in aircraft technology, enhancements in information and communications technology (ICT), and marketing strategies have improved the quality of air travel, which has doubled the number of tourist arrivals in the world.

System Failure and Privacy Concern in Smart Airport Systems

The rising usage of smart services exposes a broad range of vulnerabilities that can be manipulated by cybercriminals and other malicious activities, which may pose a major threat to the growth of the market during the forecast period. Smart airports are primarily developed to boost productivity and efﬁciency; however, they could potentially present severe risks for authorities and residents when cyber-security is abandoned. As the advent of cybersecurity system in airports also lead to failure that leads to the loss of personal data of passengers if the data collected and transmitted is hacked or not reliable.

In 2019, the World Economic Forum (WEF) estimated that cyber-attacks are considered as the top five risks to global stability. In addition, as per Identity theft resource centers, the number of data breaches observed to be around 1,257 in 2018 and increased to almost 1,473 in 2019. Thus, the presence of various security concerns associated with smart airport systems and their technology is the prime factor restraining the growth of the smart airport market during the forecast period.

Global Smart Airport Market by Region

According to the United Nation World Tourism Organization (UNWTO), in 2019, Middle East region has grown at a rapid rate in international tourism, almost double of global average. Asia Pacific expansion slowed down but still showed an average growth of 5% in international tourism.

North America is accounted to have largest hold, with a share of around 35.3% in the global smart airport market in 2021. This is owing to the large-scale investments for optimizing operations at airport coupled with the implementation of IoT, AI, and Big Data in airport operations has the feasibility to improve visibility and optimize business process. Moreover, the rising preference for improving personalized experience, and higher concentration of the market players are expected to drive the market growth in the region. Further, Asia-Pacific is estimated to grow at a fastest CAGR of 14% during the forecast period, with a market share of 25% in the global smart airport market in the year 2021.

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Covid-19 Impact on Global Smart Airport Market

The covid-19 pandemic adversely affected the whole tourism industry from the major players to minor players. As per the ICAO, total number of domestic and international flights for the passenger and cargo transport accounted for 432,502 in March 2020, decrease from 693,961 in March 2019.

After the exponential increase in COVID-19 cases in China, an immediate and complete ban was imposed on all the domestic and international flights to avoid any further spread of infection. Moreover, as the pandemic continues to spread in other countries of the region such as South Korea, Japan, and India, the countries have started to impose travel restrictions. In addition to this, the visa on arrival was also canceled by various countries of Asia-Pacific.

Competitors Market – Global Smart Airport Market

Global Smart Airport Market is observed to have competitive nature and is projected to shift towards consolidated nature in the forecast period. As the cumulative market share of the five major players is close to 72.2%, hence there is high competition in the market. The need for high capital investment in terms of development cost, business setup cost, legal cost, distribution cost, and other costs, creating an entry barrier for the new entrants, which reduce the overall threat level of a new entrant. However, the government is putting the legal regulations for key players that must comply to deliver smart airport services, which may impact the new market player to enter the market.

The cumulative ratio of the ten major players (Amadeus IT Group SA, Siemens, T-systems, Thales Group, SITA, Honeywell, Collin Aerospace including Raytheon, SABRE, IBM, and Cisco) of the market such as is 72.2%.

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Market Taxonomy

By Component

Infrastructures
Solutions
Applications
Services

By Infrastructure

Endpoint Devices

Sensors
Tags
IP Phone
Video Conferencing (Audio/ Video)

Communication Systems

Wireless Airports
Smart Phones
Near Field Communication
Social Media

Passenger, Cargo and Baggage Ground Handling Control

IoT Enabled Beacons
Robots for Passenger and Baggage Movement
Common-use Self-service (CUSS) Kiosks
RFID Baggage Reconciliation System
E-Gates

Air/Ground Traffic Control

Smart Systems & Scalable Air Traffic Management Solutions (ATM)
Automated Passport Controls

Security Systems

Biometrics
Alerts & Cyber Security
E-Fence & Ground Surveillance Radar
E-Tag System

Others (Navigational, Landing Aids, Digital Signage, Airport Management Software)

By Solutions

Terminal Side

HVAC
Lighting Control
Digital Video Surveillance and Management (DVM)
Fire and Life Safety Solutions
Energy Management
Life Cycle Services
Building Management and Automation Systems

Air Side

Advanced Visual Docking Guidance System (A-VDGS)
Airfield Ground Lighting (AGL)
Surface Movement Guidance
Runway Improvement and Apron Management
Digital and Radar Video Surveillance

Landside

Parking
Access Roads
Perimeter Security
Car Rental
Mass Transit
Airport City

By Application

Core Applications

Content Management
Business Intelligence
Next-Generation Web
Collaboration
Integration

Business Applications

Noise Abatement
Fee Management
Performance Management
Gate Management

By Services

Smart Transport & Parking Services

Real-time Travel Services
Intelligent Transport Services
Trip Concierge

Smart Retail, Hospitality & Entertainment Services

Passenger-Specific Retail and Hospitality
Intelligent Advertising
Lean Retail Solutions
Telepresence Rooms

Smart Workplace Services

Equipment Telematics Solutions
Mobile Worker and Expert Locator

Smart Airport Processes

Location-Based Services
RFID Baggage Tagging
No-queue Check-in Solutions

Smart Business to Business Services

Traffic and Facilities Management
Smart Supply-Chain and MRO Services

By Airport Model

Airport 2.0
Airport 3.0
Airport 4.0

By Airport Size

Small
Medium
Large

By Airport Operation

Commercial Service Airports
Cargo Service Airports
General Aviation Airports

By Region

North America

The U.S.
Canada
Mexico

Europe

The UK
Germany
France
Italy
Spain
Poland
Russia
Rest of Europe

Asia Pacific

China
Taiwan
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific

Middle East & Africa (MEA)

UAE
Saudi Arabia
South Africa
Rest of MEA

South America

Brazil
Argentina
Rest of South America

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