Smart Airport Market: Key Development Opportunities Hidden In Emerging Economies

Posted by Harshad Borde on February 5th, 2020

The global smart airport market is slated to expand at a sound pace in the years to follow. The need for digitalizing airports stems from the increasing volume of traffic across international and domestic airports. Furthermore, the aviation industry is characterised by the presence of several digital nodes meant to accelerate processes at airports. Therefore, the need for converting traditional airports into smart airports has become indispensable in recent times. Furthermore, use of digital technologies ensures that the passengers can easily pass through the various nodes on airports. In the contemporary times of increasing air traffic, the global smart airport market is set to attract new growth opportunities.

In a report published by Transparency Market Research, the analysts predict the global smart airport market to expand at a CAGR of 13% over the period between 2018 and 2026. The total volume of revenues pertaining to the smart airport market is also expected to touch new heights. The high growth rate of this market can be attributed to advancements in the aviation industry.

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Need for Expediting Processes across Airports

Management of airports is an important consideration for national and regional authorities. In order to do this, state planning authorities are resorting to the use of digital technologies. Therefore, the total volume of revenues within the global smart airports market is expected to rise perpetually in the years to come. Furthermore, airport authorities are focusing on expediting check-in and scanning processes in order to avoid flight delays. This factor, coupled with the premium benefits offered by providers of smart airport services, has aided market growth. The use of online check-in facilities and self-check-in booths across airports is an important driver of market demand.

Moreover, airports are equipped with smart facial recognition features that can help in controlling accessing of unauthorised personnel in security areas. Besides, smart scanning tools can be a means to accelerate the process of baggage scanning.

Efforts of FAA to Aid Market Growth

The Federal Aviation Administration (FAA) has launched a fresh initiative to invite fresh college graduates towards improving the fettle of airport. The FAA is persuading college students to present their ideas for the development of improve airports. Besides, the organization has a goal to digitize airports, and wants to integrate smart technologies with the infrastructure of all major airports. Therefore, the global smart airport market is slated to attract increased demand in the years to follow. The need to improve travel experiences has led airlines to push airport authorities towards inducting smart technologies.

Some of the leading vendors in the global smart airport market are Siemens AG, Amadeus IT Group SA, Thales Group, CISCO System, Inc., S.A.S., and Lufthansa Systems GmbH & Co. These vendors are expected to focus on improving their integration procedures in order to attract consumers.