Airport Market to Grow at 19.9% CAGR by 2027
" COVID-19 impact on airport market, size, share, growth, industry analysis, and forecast 2021-2027 "
Airports across emerging economies have increasingly been adopting a smart airport approach which optimizes and strengthens the utilization of airways infrastructure for executing advanced functions. It includes several components such as freight operations information systems, check-in and baggage management, operations, communications, airways analytics, IP-based security monitoring, passenger information & reservation systems, air traffic management, and ticketing.
The increasing adoption of the internet of things and rising security concerns fuels the adoption of smart solutions in the airport. Other factors accelerating the market growth include an increasing requirement to provide personalized services to travelers, escalating demand for real-time information, and the increasing need to simplify and enhance user experience. Moreover, the increasing commercial aviation domain and the increasing preference of *people to travel around the world are projected to compel the growth of the airport market.
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Furthermore, governments in developed countries are designing and developing airports with the collaboration of key companies. The advanced technologies installed at airports will simplify the passenger traveling experience at the airports. Airports are upgrading their traditional systems with highly advanced and automatic systems to reduce the waiting time of passengers. In addition, the rising demand for eco-friendly systems and airports will also drive the demand for green and smart airports in the coming years. Thus, the rising focus of airports on enhancing customer experience will provide opportunities for the airport market.
The Airport Market research report titled “Airport Market based on Technology Type, Solution Application, Location Geography - Forecast up to 2027”
The top-notch competitors competing in the airport market are Amadeus IT Group SA, Huawei Technologies Co., Ltd, T-Systems International GmBH, Honeywell International Inc., and Indra Sistemas S.A.
North America is likely to dominate the market in the future owing to a large number of smart airports and increasing airport modernization programs in the US and Canada. Additionally, most of the companies operating in the development of the airports market are present in the US.
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The report consists of 95 Tables and 65 charts depicting the in-depth market study and the impact analysis of COVID-19 by Vendor name. View detailed TOC here.
Airport Market based on Technology Type
- Security systems
- Communication systems
- Passenger, cargo & baggage handling control
- Air/ground traffic control
- Endpoint Devices
Airport Market based on Solution Application
- Aeronautical operations
- Non-Aeronautical operations
Airport Market based on Location
- Terminal side
- Land Side
Airport Market based on Geography
- North America
- Asia Pacific
- Rest of the World