Smart Airport Market to be worth US$ 67,330 Mn by 2026 - TMR

The global smart airport market is expected to witness high growth, as the key players in the market are investing heavily in research and development activities, observes Transparency Market Research. Key players are using innovative ways to strengthen their position in the market, which will increase competition among them. Entry of new players in the market is also projected to increase competition in this market. The players to stay abreast also use other growth strategies such as product development, innovation, and expansion. Moreover, players are innovating and implementing advanced technologies to address the growing demand for real-time information effectively. The report analysis some of the key players including Amadeus IT Group SA, Siemens AG, Thales Group, S.A.S., CISCO System, Inc., Lufthansa Systems GmbH & Co. KG. RESA, and IBM Corporation in the global smart airport market.

According to the TMR’s report, the global smart airport market is projected to progress at 13.0% CAGR over the forecast period 2018 to 2026. Based on infrastructure, the security systems segment is likely to lead the market, as there is high demand for biometric devices in airport for checking and identification processes.

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Geographically, North America is likely to hold maximum share in the global smart airport market due to the presence of large number of players in the region. Moreover, growing efforts in changing existing services and solutions has further augmented demand for smart airport in developed regions. Asia Pacific is also projected to contribute in the growth of this market owing to high demand for automated processes at airports in several emerging economies. Rising government support for the implementing advanced solutions at the airports to expand Asia Pacific smart airport market.