Authored By: Sarah
23 Aug 2024

Smart Airports Market Size to grow by USD 6669.08 million between 2024-2028

The Smart Airports Market is segmented by End-user (Non-aeronautical and Aeronautical), Application (Large, Medium, and Small), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 6669.08 million, at a CAGR of 12.73% during the forecast period. There are several companies that are contributing to the market as per this report. Increasing digital transformation of airports .

By End-user, the Non-aeronautical segment is projected to dominate the market size in 2024

In the realm of smart airports, non-aeronautical services and revenue sources are indispensable for driving growth and enhancing the passenger experience. These services encompass duty-free shops, retail boutiques, and convenience stores, which generate income and optimize airport operations. Digital signage, mobile apps, and personalized offers are employed to elevate the shopping experience, while advertising spaces, such as digital screens, banners, and promotional campaigns, provide lucrative revenue streams. Data analytics is utilized to target ads to specific passenger demographics, offering valuable sponsorship and advertising opportunities for brands seeking to engage with a captive airport audience.

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Why is North America forecasted to hold the largest regional market size in 2024?

In North America, the demand for smart airports is thriving due to the region's sophisticated technological infrastructure, substantial passenger traffic, and the imperative to elevate the travel experience while maintaining safety and security. With some of the world's busiest airports, such as Hartsfield-Jackson Atlanta International Airport, Los Angeles International Airport, and Chicago O'Hare International Airport, catering to millions of passengers, the necessity for advanced technologies to optimize operations is paramount. Travelers in North America seek a seamless and convenient airport experience, which smart airports deliver through efficient services, contactless processes, and personalized experiences. Innovative ground transportation solutions, including rideshare services, autonomous shuttles, and electric vehicle charging stations, are being adopted by North American airports to enhance accessibility and connectivity.

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Research Analysis Overview

The Smart Airports Industry is experiencing rapid expansion with the integration of automation and self-service technologies. Automated kiosks for check-in, baggage drop systems, and biometric identification are becoming the norm, reducing wait times and increasing efficiency. SITA, a leading technology provider, is at the forefront of this industry evolution, offering Software & Solutions for Data Storage, Communication & Connectivity, and Endpoint Devices. Self-service installation of these systems is a key trend, allowing airport operators to implement touchless solutions with minimal disruption. The implementation of these technologies not only enhances the passenger experience but also offers significant cost savings for airports. Moreover, the integration of electronics such as self-service check-in kiosks, automated boarding processes, and aviation blockchain technology is revolutionizing the industry. Biometric kiosks offer a contactless and quick identification process, streamlining the airport experience. These advancements are transforming airports into smart, connected hubs that offer a seamless and efficient travel experience.

Market Research Overview

According to Technavio, the global smart airports market is included in the broader category of the capital goods market, specifically the aerospace and defense sector. This market encompasses entities involved in the production of commercial and general aviation aerial platforms, defense platforms for naval, land, and air applications, defense electronics, defense logistics equipment, space platforms, and related launch vehicles. Additionally, the aerospace and defense market incorporates MRO activities for both commercial and defense sectors. The global capital goods market size is determined by the collective revenue generated by manufacturers and providers in industries such as aerospace and defense, building and construction, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors. - The Smart Airports Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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