DUBLIN , Sept. 22, 2022 /PRNewswire/ -- The "Smart Airport Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Component and Application" report has been added to ResearchAndMarkets.com's offering.
The Smart Airport Market size is expected to grow from US$ 26,073.62 million in 2022 to US$ 66,763.46 million by 2028. The emerging need for cost-effective and efficient systems across airports is one of the major trends in the smart airport market. According to International Air Transport Administration, the airport operational costs can be as high as US$ 9.95 per passenger aeronautical revenue, US$ 7.08 per passenger non-aeronautical revenues, or US$ 13.69 per passenger total cost. The systems deployed for performing airport operations are expensive and incur recurring costs to airports for servicing, upgrading, and maintenance. The deployment of smart parking in smart airports is one of the major examples of cost-effective airport systems. These systems provide directions to passengers to find available parking spaces. Mobile smart parking apps can also be integrated with e-ticketing for parking to provide a seamless passenger experience and improve operational efficiency and reliability of parking areas, resulting in greater revenue generation at a lower cost for airport administrations. Impact of COVID-19 Pandemic on Smart Airport Market
Following a decade of a constant and substantial increase in global passenger traffic, the COVID-19 pandemic effectively discontinued activities at airports globally in the second quarter of 2020. As a result, the overall number of passengers in 2020 declined dramatically compared to 2019. The Middle East will continue to be one of the most affected area in terms of relative decline in air passengers, as it registered a drop of 69.3% in 2021.
This is owing to the region's reliance on foreign travel and connectivity, which are rebounding at a considerably slower pace than domestic travel. South America , however, is predicted to recover faster than the other regions in 2021. While major challenges exist, the road to recovery is becoming clear.
For instance, Dubai Airports has worked with Huawei to create a smart airport that provides what consumers want: short lines, simple online services, and on-time flights. The UAE intends to expand Dubai International Airport to handle 120 million people annually by 2023, up from the existing capacity of 90 million. Free Wi-Fi, Smart gates, data gathering and sharing, airport apps, requirement projections, asset management and maintenance, and aircraft punctuality rate monitoring have all been emphasized in these smart airports. The UK accounted for the second-largest market in the European smart airport market. The country has two fully operational smart airports i.e., London Heathrow Airport and Edinburgh International Airport. The UK airports are one of the busiest airports across the region as it handles a large volume of passengers annually. These airports are also trying to implement new smart airport technologies to develop an intelligent operational infrastructure in airports.
For instance, in 2021, Heathrow Airport (LHR) initiated a trial of touchless bag drop technology developed by Amadeus - a Spanish IT solution provider. Moreover, the airports across the UK are taking initiatives to recover the revenue loss incurred during the COVID-19 pandemic as many airports and airline operations were suspended from FY 2020 to 2021. However, in 2021, a Border IT failure across the country has caused electronic passport gates to fail across the UK airports. Such IT challenges are expected to hamper the adoption of smart technologies across the UK smart airport market. Asia Pacific (APAC) is expected to be the fastest-growing smart airport market globally during the forecast period. The Asia Pacific smart airport market analysis is conducted on the basis of countries such as Australia , China , India , Japan , South Korea , and the Rest of APAC. The second-largest smart airport market share in the APAC region is expected to be accounted for by the rest of APAC region in 2022. 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 among the players operating in the global smart airport market and profiled in this market study. Key Topics Covered: 1. Introduction 2. Key Takeaways
4. Smart Airport Market Landscape 4.1 Market Overview 4.2 PEST Analysis 4.2.1 North America 4.2.2 Europe 4.2.3 Asia Pacific 4.2.4 Rest of the World 4.3 Ecosystem Analysis 4.4 Expert Opinion
5. Smart Airport Market - Key Industry Dynamics 5.1 Market Drivers 5.1.1 Growing Investments from Airport Authorities for Deployment of Smart Connected Systems 5.1.2 Focus of Vendors on Customer-Centric Offerings 5.2 Market Restraints 5.2.1 Threat of Cyberattacks to Smart Airport Systems 5.3 Market Opportunities 5.3.1 Airport Construction Initiatives Expected to Drive Future Demand 5.4 Future Trends 5.4.1 Emerging Need for Cost-Effective Airport Systems 5.5 Impact Analysis of Drivers and Restraints
6. Smart Airport Market - Global Market Analysis 6.1 Smart Airport Market Overview 6.2 Smart Airport Market Forecast and Analysis 6.3 Market Positioning - Global Key Players 6.4 Competitive Benchmarking 6.5 Growth Matrix
7. Smart Airport Market Analysis - By Component 7.1 Overview 7.2 Smart Airport Market, By Component (2021 and 2028) 7.3 Hardware 7.3.1 Overview 7.3.2 Hardware: Smart Airport Market Revenue and Forecast To 2028 (US$ Million) 7.3.3 Security Systems 7.3.3.1 Overview 7.3.3.2 Security Systems: Smart Airport Market Revenue and Forecast To 2028 (US$ Million) 7.3.4 Communication and Network System 7.3.4.1 Overview 7.3.4.2 Communication and Network System: Smart Airport Market Revenue and Forecast To 2028 (US$ Million) 7.3.5 Endpoint Devices 7.3.5.1 Overview 7.3.5.2 Endpoint Devices: Smart Airport Market Revenue and Forecast To 2028 (US$ Million) 7.3.6 Data Storage 7.3.6.1 Overview 7.3.6.2 Data Storage: Smart Airport Market Revenue and Forecast To 2028 (US$ Million) 7.4 Software 7.4.1 Overview 7.4.2 Software: Smart Airport Market Revenue and Forecast To 2028 (US$ Million)
8. Global Smart Airport Market Analysis - By Application 8.1 Overview 8.2 Smart Airport Market, By Application (2021 and 2028) 8.3 Terminal Side 8.3.1 Overview 8.3.2 Terminal Side: Smart Airport Market Revenue and Forecast To 2028 (US$ Million) 8.4 Landside 8.4.1 Overview 8.4.2 Landside: Smart Airport Market Revenue and Forecast To 2028 (US$ Million) 8.5 Airside 8.5.1 Overview 8.5.2 Airside: Smart Airport Market Revenue and Forecast To 2028 (US$ Million)
9. Smart Airport Market - Geographic Analysis
10. Smart Airport Market- COVID-19 Impact Analysis 10.1 Overview 10.2 North America : Impact Assessment of COVID-19 Pandemic 10.3 Europe : Impact Assessment of COVID-19 Pandemic 10.4 APAC: Impact Assessment of COVID-19 Pandemic 10.5 Rest of the World: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape 11.1 Overview 11.2 Market Initiative 11.3 New Product Development 11.4 Merger and Acquisition
12. Company Profiles 12.1 Honeywell International Inc. 12.1.1 Key Facts 12.1.2 Business Description 12.1.3 Products and Services 12.1.4 Financial Overview 12.1.5 SWOT Analysis 12.1.6 Key Developments 12.2 Cisco Systems, Inc. 12.2.1 Key Facts 12.2.2 Business Description 12.2.3 Products and Services 12.2.4 Financial Overview 12.2.5 SWOT Analysis 12.2.6 Key Developments 12.3 Huawei Technologies Co., Ltd. 12.3.1 Key Facts 12.3.2 Business Description 12.3.3 Products and Services 12.3.4 Financial Overview 12.3.5 SWOT Analysis 12.3.6 Key Developments 12.4 Indra Sistemas, S.A. 12.4.1 Key Facts 12.4.2 Business Description 12.4.3 Products and Services 12.4.4 Financial Overview 12.4.5 SWOT Analysis 12.4.6 Key Developments 12.5 Amadeus IT Group SA 12.5.1 Key Facts 12.5.2 Business Description 12.5.3 Products and Services 12.5.4 Financial Overview 12.5.5 SWOT Analysis 12.5.6 Key Developments 12.6 SITA 12.6.1 Key Facts 12.6.2 Business Description 12.6.3 Products and Services 12.6.4 Financial Overview 12.6.5 SWOT Analysis 12.6.6 Key Developments 12.7 Collins Aerospace 12.7.1 Key Facts 12.7.2 Business Description 12.7.3 Products and Services 12.7.4 Financial Overview 12.7.5 SWOT Analysis 12.7.6 Key Developments 12.8 Daifuku Co., Ltd. 12.8.1 Key Facts 12.8.2 Business Description 12.8.3 Products and Services 12.8.4 Financial Overview 12.8.5 SWOT Analysis 12.8.6 Key Developments 12.9 Thales Group 12.9.1 Key Facts 12.9.2 Business Description 12.9.3 Products and Services 12.9.4 Financial Overview 12.9.5 SWOT Analysis 12.9.6 Key Developments 12.10 T-Systems International GmbH. 12.10.1 Key Facts 12.10.2 Business Description 12.10.3 Products and Services 12.10.4 Financial Overview 12.10.5 SWOT Analysis 12.10.6 Key Developments
For more information about this report visit https://www.researchandmarkets.com/r/6y510g
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