Global Airport IT Market Overview:
Airport IT means the use of technological solutions for airport operation and management. In today’s time, airport authorities are rapidly adopting advanced technologies and IT solutions to become more passenger-friendly, smooth airport operation, and offer a high level of security and safety. As the number of air traffic has been increasing day-by-day, the airport authorities are seeking new technological solutions to control and manage traffic. However, the key players are investing in R&D of innovative solutions like robotic assistance, kiosk connect solutions, etc. The evolution of 5G network across the globe will also fuel the growth in the airport IT market.
- Surging Demand for Technological Solutions to Improve Airport Operation and Reduce Cost
- Growing Preference towards the Air Transportation Mode for Smooth, Fast and Safe Travel
- High Initial Cost of Advanced Solutions and Maintenance Cost to Reduce Disruptions
- Rise in Construction of High-Tech Airports in the Developing Countries
- Availability of Appropriate IT Infrastructure
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Amadeus IT Group (Spain), Siemens (Germany), Thales Group (France), Honeywell International (United States), Rockwell Collins (United States), Saab AB (Sweden), Atos (France), Northrop Grumman (United States), Damarel Systems (United Kingdom), Capgemini (France) and NudgeNext (India). Analyst at AMA Research see United States Players to retain maximum share of Global Airport IT market by 2026. Considering Market by Airport, the sub-segment i.e. Domestic will boost the Airport IT market. Considering Market by Component, the sub-segment i.e. Hardware will boost the Airport IT market.
Latest Market Insights:
In 2019, Amadeus announced the acquisition of ICM Group Holding Limited to design, configure, implement, operate and support airport systems required to manage passengers and baggage. ICM is an Australia-based leading provider of passenger automation and self-service bag drop solutions. The acquisition will help Amadeus to strengthen its position in re-imagine check-in, boarding, and security to improve operational efficiency at a low cost.
In 2020, Rockwell Collins introduced a new kiosk connect solution to eliminate the need of touching airport kiosks. The new kiosk solution enables passengers to use their phones for check-in and baggage drop. There is no requirement to install any application, the user can use the kiosk by scanning QR code from mobile devices and connect to the kiosk by using the airport's public Wi-Fi or the kiosk's built-in Wi-Fi.
What Can be Explored with the Airport IT Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Airport IT Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Airport IT
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Airport IT market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Airport IT market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Airport IT Solutions & Service Providers, Airport IT Products Manufacturers & Suppliers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Airport IT Market?
The Airport IT market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Airport IT Market?
Top performing companies in the Global Airport IT market are Amadeus IT Group (Spain), Siemens (Germany), Thales Group (France), Honeywell International (United States), Rockwell Collins (United States), Saab AB (Sweden), Atos (France), Northrop Grumman (United States), Damarel Systems (United Kingdom), Capgemini (France) and NudgeNext (India), to name a few.
3. What trending factors would impact Airport IT Market growth most?
"Evolution of Robotic Assistance and Digitalization of Air Traffic Control to Improve Transport Safety" is seen as one of major influencing trends for Airport IT Market during projected period 2020-2026.