Smart Airport Market is Anticipated to Grow at a CAGR of 11.1% During the Forecast Period 2018-2025

As per the report “Smart Airport Market By Technology ( Security systems, Communication systems, Passenger, cargo & baggage ground handling control, Air/Ground traffic control ), By Location ( Terminal side, Land side, Airside ), By Application ( Aeronautics, Non-aeronautics ), By Service Type ( Smart Airport Processes, Smart Transport and Parking Services, Smart Retail, Hospitality and Entertainment Services, Smart Workplace Services ), Industry Trends, Estimation & Forecast, 2017-2025” In 2017, the Passenger, cargo & baggage ground handling control segment generated the highest revenue share in the global smart airport market. Among major regions, North America was the highest revenue generating market, holding nearly 35% of the market share, in 2017.

“Smart airports are not just intelligent infrastructures, rather they are the amalgamation of airport operators, airlines, ground handlers, passengers, authorities and regulators, who can connect and collaborate by removing the barriers to information flow. However, the real challenge that arises during the implementation of smart airport concept is to provide a hassle free seamless experience while shifting from one channel to another, rather than just providing multiple channels.”

Evolution of airports is revolutionizing the aviation industry by enhancing operations, value and experience

The surging growth of the aviation industry has dramatically evolved the business models and operations carried out at the airports. Airports are no longer just a venue of waiting and passing through to board the flights. They provide passengers the feel of being in the city with areas reserved for entertainment, gathering, and information portals. The evolving family of airports is witnessing a business drift from B2B to B2C, by exploiting the power of emerging and maturing technologies at its full extent.

Smart airports are creating new revenue streams by transforming their business models

The declining airline economics has propelled airport authorities to divert their focus from aeronautical operations to non-aeronautical operations. The income generated from the non-aeronautical operations such as advertising, Wi-Fi, real estate, lounges, duty-free shops, food & beverage providers, and retail shops among few others is high as compared to the income generated by the aeronautical operations. The airport authorities are fusing creativity and digital technology with their business sense, in order to create huge revenue pockets. This is propelling the growth of non-aeronautical application segment in the global smart airport market.

Read more @ https://www.esticastresearch.com/market-reports/smart-airports-market

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