Smart Airports Market to Register CAGR of 9.1% Over Forecast Period – Market.us
“Global Smart Airports Market: Types, Pet Types, Growth Rates and Revenue Shares, and Forecast from 2020 to 2029” is a recently produced report by Market.us. The global smart airports market is projected to reach a value of US$ 29.3 Billion in 2029, from a value of US$ 12.4 Billion in 2019. The global market is projected to register a substantial growth rate of 9.1%.
Smart airports comprise various devices and systems including baggage handling system, security check device, CCTVs, etc. Some of the technologies are explained below:
Security systems: A system used to detect intrusion, unauthorized entry of a person or material into a building or area which in this case is an airport. Security systems used various technologies such as CCTV, Facial recognition, bag scanning, risk-based analytics, etc.
Communication systems: A communication system is a collection of individual communication networks, transmission systems, relay stations, tributary stations, and data terminal equipment usually capable of interconnection and interoperation to form an integrated whole.
Passenger, cargo & baggage handling control: A baggage handling control system is a type of conveyor belts installed in airports that enable easy transportation of checked bags from ticket counters to luggage areas for loading bags onto planes, as well as transportation of checked bags coming from planes to luggage claim area or zone where the luggage can be loaded onto another plane.
Air/ground traffic control: Air traffic control (ATC) is a service provided by a ground-based air traffic controller who directs plane on the ground and by controlled airspace, and can provide advisory services to aircraft in non-controlled airspace.
Dynamics and Analysis:
The introduction of numerous devices with advanced options, such as client identification via a unique heartbeat pattern with the help of biometric signatures and introduction of Artificial Intelligence technology, across airports are supporting the management of huge airport databases. Deployment of such technologies in airports is creating opportunities for players in the global smart airports market.
Incorporation of AI into the inquiry systems for giving automated replies to questions asked by travelers reduces human involvement. AI aids in smooth functioning of several operational areas of airports such as real-time pricing, predictive aircraft maintenance, and airlines efficiency. For instance, the Beijing International Airport is using Alibaba Group’s AI-enabled ‘Aviation Brain’ to ease congestion. Such AI software is projected to present huge opportunities for players in the target market.
Increasing adoption of technologically-enabled units such as smart luggage systems has also gained enormous attention. The application of robotics and augmented reality in the airports is enhancing efficiency and aiding in providing extraordinary customer experience by performing varied tasks such as identifying the potential security risks and luggage transportation using high-end technologies.
Developed regions are expected to account for major revenue shares in the global smart airports market as air traffic is higher in these regions as compared to developing countries. However, due to increasing disposable incomes of individuals in developing economies including India, China, and Brazil, among others, the air traffic is continuously increasing in regions such as the Asia Pacific and South America. As a result, governments of these countries and regions are focusing on upgrading existing airports and this, in turn, is expected to increase adoption of smart airports in the developing regions in the upcoming years.
Major players profiled in the final report include United Technologies Corporation, Honeywell International Inc., SITA, Amadeus IT Group SA, Siemens Aktiengesellschaft (Siemens Logistics GmbH), Damarel Systems International Ltd., Cisco Systems, Inc., QinetiQ Group plc, International Business Machines Corporation, and NEC Corporation.
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