The smart airport market size is projected to reach US$ 116.80 billion by 2031 from US$ 30.01 billion in 2023. The market is expected to register a CAGR of 18.5% during 2023–2031. Emerging need for cost-effective airport systems is likely to remain a key trend in the market.
Smart Airport Market Analysis
The airports take solutions and services from smart airport system manufacturers. The demand for automated systems for smart airports is increasing owing to rising investments in the deployment of AI & ML-based systems across different airports. Component manufacturers in the smart airport ecosystem have signed short-term and long-term contracts with the manufacturers of smart technology devices, such as intelligent data handling systems, artificial intelligence biometrics, IoT sensors, modems, routers, and peel & stick sensors. Amadeus IT Group SA; Cisco System, Inc; Huawei Technologies Co., Ltd; Honeywell International Inc.; Indra Sistemas SA; SABRE GLBL Inc.; Jeppesen; Zensors; and SITA are the smart airport systems providers. These companies provide end-to-end smart devices, services, and solutions to target end users. Major end users of smart airport systems include Singapore Changi Airport, Seoul Incheon Airport, Houston Airports, Tokyo Haneda Airport, Hong Kong International Airport, Doha Hamad International Airport, Munich Airport, and London Heathrow Airports.
Smart Airport Market Overview
Major stakeholders in the smart airport market ecosystem include component manufacturers and suppliers, software developers and integrators, smart airport system manufacturers, and end users. Component manufacturers and suppliers include Astronics Corporation, TE Connectivity, Molex, Panduit, Honeywell, and Schneider Electric, among others. Increasing government investments in setting up smart airports are accelerating the digitization of airports. Security is crucial in smart airports; thus, many smart airport authorities are working together to secure these facilities and improve their operational efficiencies.
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Smart Airport Market: Strategic Insights
Market Size Value in US$ 26.073 billion in 2022 Market Size Value by US$ 66.763 billion by 2028 Growth rate CAGR of 17.0% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Smart Airport Market: Strategic Insights
| Market Size Value in | US$ 26.073 billion in 2022 |
| Market Size Value by | US$ 66.763 billion by 2028 |
| Growth rate | CAGR of 17.0% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Smart Airport Market Drivers and Opportunities
Increasing Focus of Market Vendors on Customer-Centric Offerings
Companies in the smart airport industry are focusing on providing customer-centric solutions to boost the adoption of smart airport technologies. Passengers' demand for baggage tracking is on the rise worldwide, which is one of the main focus areas for airport authorities. According to the Civil Aviation Administration of China (CAAC), in 2021, ~75% of the air passengers in China wanted to know their baggage tracking details and collection time. As per the same research, ~86% of airlines in China focus on providing baggage tracking notifications, and 57% of the airlines also provide baggage collection information to their passengers across China. Thus, vendors in the smart airport market focus on providing Smart Airline Baggage Management Systems to airlines to automate their business operations and provide a better experience to passengers. Such systems are integrated with cloud-based airline applications and databases, cloud-based analytics, and a machine-to-machine (M2M) and IoT platform to connect, manage, and secure real-time data and events from smart luggage. Moreover, the deployment of baggage management systems in airports also helps to reduce the overall operational costs, along with boosting overall operational efficiencies.
New Airport Construction Projects
The rise in the number of airport construction projects across emerging countries such as China and India is likely to generate new opportunities for market vendors in the coming years. Several government plans related to the construction of new airports and expansion/upgrade of existing airports is another major factors likely to support the deployment of smart airport systems in the coming years. . For instance, the Indian government in 2022 has already announced its plans to build 220 airports by the end of 2025. Moreover, in 2018, the Civil Aviation Administration of China (CAAC) announced their plans to construct 216 new airports by the end of 2035 makes the total airport count to 450 airports by 2035 (234 airports currently in 2023). Such projects are likely to generate new opportunities for smart airport technology companies in the coming years.
Smart Airport Market Report Segmentation Analysis
Key segments that contributed to the derivation of the smart airport market analysis are component and application.
- Based on components, the smart airport market is bifurcated into hardware and software. The hardware segment is further segregated into security systems, communication & navigation systems, endpoint devices, and data storage systems. The hardware segment held a larger market share in 2023.
- Based on application, the smart airport market is segmented into terminal side, airside, and landside. The terminal side segment held a larger market share in 2023.
Smart Airport Market Share Analysis by Geography
The geographic scope of the smart airport market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Asia Pacific has dominated the market in 2023 followed by Europe and North America. Further, Asia Pacific is likely to witness highest CAGR in the coming years. The main driver for the Asia Pacific smart airport market is the presence of large number of smart airport projects across the region. For instance, Some of the major smart airports located in the Asia Pacific region are Hong Kong International Airport, Shenzhen Airport, Beijing Daxing International Airport, Tokyo Haneda Airport, Centrair Nagoya International Airport, New Delhi International Airport, Hyderabad International Airport, Seoul Incheon Airport, Jeju Airport, Singapore Changi Airport, Kuala Lumpur International Airport, and Indonesia Airport. Moreover, the countries such as China and India are likely to construct more than 400 airports by the end of 2035 which is further likely to drive the market in the coming years.
Smart Airport Market Report Scope
Smart Airport Market News and Recent Developments
The smart airport market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the smart airport market are listed below:
Thales has been awarded a contract by airport management group, SEA (Società per azioni Esercizi Aeroportuali) to deliver an innovative digital platform solution that will support the group in enhancing operational efficiency. (Source: Thales, Press Release, Mar 2022)
- During the first Airports Innovate Exhibition, which takes place from November 20 to 22 in Muscat, Oman, Huawei launched a series of brand-new smart airport solutions for international markets, including the Fully Connected Fiber Network Solution and Smart Airport Perimeter Security with Fiber Sensing Solution. (Source: Huawei, Press Release, Nov 2023)
Smart Airport Market Report Coverage and Deliverables
The “Smart Airport Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Smart airport market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Smart airport market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed porter’s five forces analysis
- Smart airport market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the smart airport market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Canada, China, France, Germany, India, Italy, Japan, Mexico, Middle East and Africa, Russian Federation, South America, South Korea, United Kingdom, United States
Frequently Asked Questions
Asia Pacific region dominated the smart airport market in 2023.
Growing investments from airport authorities for deployment of smart connected systems and increasing focus of vendors on customer-centric offerings are some of the factors driving the growth for smart airport market.
Emerging need for cost-effective airport systems is one of the major trends of the market.
Honeywell International Inc, Cisco Systems Inc, Huawei Technologies Co Ltd, Indra Sistemas SA, Amadeus IT Group SA, SITA, Collins Aerospace, Daifuku Co Ltd, Thales Group, and T-Systems International GmbH are some of the key players profiled under the report.
The estimated value of the smart airport market by 2031 would be around US$ 116.80 billion.
The smart airport market is likely to register of 18.5% during 2023-2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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