Airport Information Systems Market Outlook 2031
The airport information systems market size was valued at USD 4.21 Billion in 2022 and is likely reach to USD 5.76 Billion by 2031, expanding at a CAGR of 3.54% during the forecast period, 2023–2031. The growth of the market is attributed to the demand for competent air passenger traffic, technological expansions, and an upsurge in upgradation of prevailing systems.
Technological advancements have played a crucial role in the overall expansion of the aviation sector across the globe, thus boosting the airport information system market. The advent of novel technologies, such as machine learning, artificial intelligence, 4G, 5G, Blockchain, WiFi, IoT, and cloud computing is set to revolutionize the airports worldwide and enable the development of smart airports.
Within the aviation sector, real-time management of airport activities remains vital for enhancing passenger service and best operational efficiency. During the last few years, investments toward the development of airports have increased at a rapid pace and the trend is likely to continue over the forecast period.
As airports across the globe scramble toward enhancing the passenger experience and customer service, airport information systems have lucrative opportunities to expand.
The Covid-19 pandemic had an adverse impact on the airport information systems market. It has resulted in a full-scale crisis with the imposition of travel restrictions and the suspension of flights in a global effort to contain the spread of the virus.
According to the latest updates from ICAO, IATA, the UN World Tourism Organization (UNWTO), the Airports Council International (ACI), the International Monetary Fund (IMF), and the World Trade Organization (WTO), the international air passenger traffic in 2020 experienced a drop of about 50-55% as compared to 2020 baseline.
However, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing adoption of digitized technology at airports and IoT connected devices by end users are estimated to propel the market during the forecast period.
- Increasing number of air passengers across the globe is acting as a major catalyst for rising investment in airports.
- Rising incomes with increasing competition and liberalization in emerging aviation markets is anticipated to drive the global airport information systems market.
- Absence of clearly defined regulations and expensive airport information systems are anticipated to impede the market growth.
- Increasing investment and technological advancement in the airport information systems market are expected to offer lucrative opportunities for the market players.
Scope of Airport Information Systems Market Report
The report on the airport information systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Airport Information Systems Market –Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Application (Maintenance, Ground handling, Finance and Operations, Security, and Passenger Information), Type (Airside and Terminal Side)
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Regions
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Amadeus IT Group SA;Honeywell International, Inc.; INFORM Software; Intersystem Pty. Ltd.; Lockheed Martin Corporation; Lufthansa Systems GmbH & Co. KG; RESA, S.A.S.; Siemens Industry Inc.; SITA,; Velatia; S.L.; and Vision-Box.
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Airport Information Systems Market Segment insights
The maintenance segment is projected to constitute a large market share
Based on application, the airport information systems market is segregated into maintenance, ground handling, finance and operations, security, and passenger information. The maintenance segment is expected to account for a key share of the market during the forecast period
owing to increase in passenger traffic from the small cities which has driven the demand for expansion and upgradation of airports.
The terminal side segment is expected to register a substantial CAGR
Based on type, the market is divided into airside and terminal side. The terminal side segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to its application in providing customer satisfaction over its competitor.
Airport Information Systems Market Regional Outlook
North America is expected to dominate the market
In terms of regions, the market is broadly classified into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is anticipated to expand at a robust CAGR during the forecast period. Strong adoption of digital and virtual software at airports for a better passenger experience in the region is expected to drive the market growth in near future.
Segments
Application
- Maintenance
- Ground handling
- Finance and Operations
- Security
- Passenger Information
Type
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Companies
- Amadeus IT Group SA
- Honeywell International, Inc.
- INFORM Software
- Intersystem Pty. Ltd.
- Lockheed Martin Corporation
- Lufthansa Systems GmbH & Co. KG
- RESA, S.A.S.
- Siemens Industry Inc.
- SITA,
- Velatia
- S.L.
- Vision-Box.
Competitive Landscape
Key players competing in the airport information systems market include Amadeus IT Group SA; Honeywell International, Inc.; INFORM Software; Intersystem Pty. Ltd.; Lockheed Martin Corporation; Lufthansa Systems GmbH & Co. KG; RESA, S.A.S.; Siemens Industry Inc.; SITA,; Velatia; S.L.; and Vision-Box.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance, In 2019, Honeywell International Inc. exhibited its IoT-enabled airport solutions for safer, smarter, and more secure airport operations.
The solutions include the Honeywell NAVITAS software suite that gives controllers access to rich, real-time information on the ground, air traffic, and meteorological conditions. It also provides access to a common base of holistic information for more efficient and informed decision-making.
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