Global Green Airport Market 2020 is poised to register a CAGR of nearly 6.5% over the forecast period of 2019 to 2025.
Owing to the use of eco-friendly technologies and infrastructure, the global green airport industry has expanded dramatically over the past few years, helping to minimize costs and pollution at airports. The expansion of existing airports, the creation of new airports, the expansion of commercial aviation and the increase in green initiatives by airport authorities are key factors driving the growth of the sector. The goal of building green airports is to construct structures and processes focused on solar power or other forms of renewable energy, which will lead to process management and energy conservation.
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Over the projected period, the rise in the number of smart airports and the provision of cost-effective airport facilities using renewable energy sources are expected to drive growth in the Green Airport Industry. Smart robots running on renewable energy sources are currently used by a vast number of airports for process management and cost savings. Singapore Changi airport, for instance, uses a smart wheelchair device driven by technology focused on vision. Because this latest technology uses green energy sources, it is planned to be implemented within the next few years at other major international airports.
Increased use of green energy sources has contributed to the need for energy savings at airports, thus driving business demand. At airports, electricity usage is exceedingly high, resulting in a high carbon footprint and a high degree of emissions. The growth of the global green airport industry is fuelled by government funding for the construction of advanced airports and strict regulations related to reducing emissions. However, the high initial cost of building up the infrastructure is likely to hinder business expansion.
The key players in the Global Green Airport Market are Siemens AG (Germany), Honeywell International Inc (US), IBM Corporation (US), Collins Aerospace (US), Amadeus IT Group SA (Spain), Sabre Corporation (US), Cisco Systems, Inc. (US), Sita Inc. (Switzerland), Thales Group (France), and Indra SIESTMA SA (Spain).
A smart wheelchair system powered by vision-based technology is used by Singapore Changi airport, for example. Because this current technology uses green energy sources, it is planned within the next few years to be implemented at other major international airports.
Increased use of green energy sources has culminated in the need for energy savings at airports, driving demand growth. Airport electricity usage is exceptionally high, resulting in a high carbon footprint and a high degree of emissions. The growth of the global green airport industry is being fueled by government funding for the construction of advanced airports and tight regulations related to mitigating emissions. However, the high initial cost of building up the infrastructure is likely to hinder business expansion.
The market was divided into North America, Europe, Asia-Pacific, the Middle East & Africa and Latin America on the basis of the region.
Due to the introduction of smart technology at airports in developing countries such as the US and Canada, North America led the global green airport industry in 2020.
However, due to the growing demand for airport services with facilities such as eco-friendly baggage handling services and runway maintenance, Europe’s market is expected to report the highest CAGR during the forecast period.
During the forecast era, the Asia-Pacific market is projected to expand at a rapid pace. The involvement of major players in countries like China, such as IBM Corporation and Siemens AG, is driving market growth in the country.
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