SMART AIRPORT MARKET SMART AIRPORTS MARKET BY TECHNOLOGY (COMMUNICATION, SECURITY, CARGO & BAGGAGE HANDLING, TRAFFIC CONTROL, ENDPOINT DEVICES), LANDSIDE, AIRSIDE, TERMINAL SIDE, APPLICATION, REGION - GLOBAL FORECAST TO 2021
The report "Smart Airports Market by Technology (Communication, Security, Cargo & Baggage Handling, Traffic Control, Endpoint Devices), Landside, Airside, Terminal Side,
Application, Region - Global Forecast to 2021", published by MarketsandMarkets, the market is projected to grow from USD 11.31 Billion in 2016 to USD 14.87 Billion by 2021, at a CAGR of 5.64% during the forecast period. The base year considered for the
study is 2015, and the forecast period is from 2016 to 2021.
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â– The non-aeronautical operations segment of the smart airports market is expected to witness higher growth during the forecast period
Based on application, the non-aeronautical segment of the smart airport is anticipated to witness higher growth during the forecast period. The constant drive to increase nonaeronautical revenue opportunities has been a priority for airport business models. Services such as food-and-beverages, advertising, retail outlet, smart parking, personalized services, Wi-Fi, and lounge access are key resources for generating overall airport profitability. This increasing demand for non-aeronautical operations and revenues are expected to propel the growth of non-aeronautical operations segment during the forecast period. â– The smart airports market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period The Smart Airports Market in Asia-Pacific is anticipated to grow at the highest CAGRduring the forecast period. The rise in passenger movement has led the airports to upgrade services and technologies such as security systems, communication systems, and baggage & cargo handling systems, among others for secure and hassle free operations. Moreover, airport authorities have approved the major development of greenfield airport which led to the increase in investments in countries such as India and China.
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