Major giants like IBM Corporation and Siemens AG are investing into airport management market due to increasing need for sophisticated services management at the airports. Increasing adoption of smartphones and tablets is one major factor fueling the growth of airport management market. Owing to this, passengers are well informed about their journey details through messages.
North America region holds the largest market share of global Airport Management Market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand for sophisticated services at the airports and changing consumer preferences in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies.
Airport management market has been segmented on the basis of component, airport size and application. The airport size segment is further bifurcated into class A, class B, class C, class D. Out of which, class B airport size sub segment holds the largest market share of the entire airport management market. Whereas class A airport size is expected to be the fastest growing during the forecast period. Airports despite of their sizes, need proper management of services in order to offer the passengers with a hassle free journeys and better travel experience.
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Major factor driving the growth of airport management market is the growing need for sophisticated management at the airports. The airport management enables smooth functioning of operations and better control too. Proper management at the airports ensures that customers don’t have to wait in queues for a long time and are provided with proper services.
The global airport management market is expected to grow at approx. USD 15.5 Billion by 2023, at 10% of CAGR between 2017 and 2023.
The prominent players in airport management market are – IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Siemens AG (Germany), Honeywell International Inc. (U.S.), Raytheon (U.S.), QinetiQ (U.K.), Amadeus IT Group (Spain), SITA (Switzerland), Rockwell Collins, Inc. (U.S.), Inform GmbH (Germany) and others.
The global airport management market is divided into five equal parts. They include, services, software, airport sizes, applications & regions.
On account of services, the market is segmented into professional services & managed services.
On the basis of software, the market can be fragmented into non passenger systems & passenger systems.
When it comes to airport sizes, the market is split into class A, class B, Class C & Class D. Amongst these, the class B sub-division holds the largest market share. Class A is not far behind and expected to grow at a tremendous rate over the forecast period.
The applications segment comprises of content management, security, logistics, integration, business applications, gate management, performance management, collaboration & others.
Geographically, this market is spread across several regions like North America, Europe, Asia Pacific & Rest of the World.
Airport Management Global Market – Regional Analysis
North America region accounts for highest market share in airport management market. The region is considered is technologically advanced and financially strong which is one of the significant factor boosting the market growth. Others aspects such as presence of major players in the region and rising security concerns are some of the key factors aiding the market growth. Countries such as US and Canada contributes large amount of revenue in the airport management market in the region. Asia Pacific region is expected to be growing at the highest CAGR. Owing to factors such as increasing population, growing mobile users, rise in trading business, globalization of IT & telecommunication industries, largest provider of outsourcing services are some of the major aspects driving growth in the market.
One of the recent innovations witnessed by the airport management market is the introduction of camera drones for security. As drone cameras have become affordable now, many airports have started making the use of these to ensure optimal security in their airport facilities. These can be used effectively to single out any suspicious person or element in the vicinity of the airport.
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- Technology Investors
- Research/Consultancy Firms
- Infrastructure Providers
- Chip designers and fabricators
- Original equipment manufacturers (OEMs)
- OEM technology solution providers
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