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The North America smart airport market is expected to grow from US$ 5,176.52 million in 2022 to US$ 11,633.15 million by 2028; it is estimated to grow at a CAGR of 14.4% from 2022 to 2028.
The International Air Transport Association highlights the significant operational costs faced by airports, potentially reaching $9.95 per passenger for aeronautical revenue, $7.08 per passenger for non-aeronautical revenue, and a total of $13.69 per passenger. Maintaining and upgrading the complex systems that underpin airport operations adds substantial recurring expenses. This financial strain is particularly evident for smaller airports, as the Airports Council International (ACI) reported that two-thirds of airports handling fewer than 1 million passengers annually experienced losses in 2020-2021.
To address these challenges, the airport industry is increasingly embracing smart, connected technologies. These advancements promise enhanced services, consistent customer experiences, and more profitable engagements for all airport stakeholders. Innovations in information technology, communication networks, the Internet of Things (IoT), data analytics, and advanced security systems are enabling airports to optimize various facets of their operations.
A prime example of a cost-effective smart airport solution is the implementation of intelligent parking systems. These systems guide passengers to available parking spaces, improving efficiency and reducing stress. For airport operators, smart parking offers greater visibility into current parking capacity and facilitates the prediction of future expansion needs. Furthermore, integrating mobile smart parking applications with e-ticketing systems streamlines the passenger experience and enhances the operational efficiency and reliability of parking areas. This integration can lead to increased revenue generation for airport administrations while keeping costs low. Consequently, the growing need for such cost-effective airport systems is projected to be a key driver for the North America smart airport market in the coming years.
Vendors in the North America smart airport market have a significant opportunity to attract new customers and expand their presence in emerging markets by introducing innovative features and technologies. This dynamic is expected to fuel substantial market growth at a favorable compound annual growth rate (CAGR) during the forecast period.
North America smart airport market Strategic Insights
Strategic insights for the North America Smart Airport market provide a data-centric analysis of the industry's current state, including prevailing trends, key players, and regional variations. These insights deliver actionable recommendations, empowering stakeholders to differentiate themselves by identifying untapped market segments or developing unique value propositions. By leveraging data analytics, industry players can anticipate market shifts, benefiting investors, manufacturers, and other stakeholders alike. A forward-looking perspective is crucial, enabling stakeholders to prepare for market changes and position themselves for sustained success in this evolving region. Ultimately, well-informed strategic insights equip readers to make sound decisions that drive profitability and achieve their business objectives within the market.
North America smart airport market Regional Insights
The geographic scope of the North America Smart Airport market defines the specific areas in which businesses operate and compete. Understanding local nuances is essential for tailoring effective market strategies. These nuances include diverse consumer preferences (for example, varying demands for specific plug types or battery backup durations), differing economic conditions, and distinct regulatory environments. By recognizing underserved areas or adapting their offerings to meet local demands, businesses can expand their market reach. A focused market approach allows for more efficient resource allocation, targeted marketing campaigns, and improved positioning against local competitors, ultimately fostering growth within those specific areas.
North America smart airport market Segments Covered
North America smart airport market By Component
Hardware
Software
Services
North America smart airport market By Application
Terminal Side
Airside
Landside
North America smart airport market Regions and Countries Covered
North America
US
Canada
Mexico
North America smart airport market leaders and key company profiles
Amadeus IT Group SA
Cisco Systems, Inc.
Collins Aerospace
Daifuku Co., Ltd.
Honeywell International Inc.
Huawei Technologies Co., Ltd.
Indra Sistemas, S.A.
SITA
Thales Group
T-Systems International GmbH
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About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.
Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
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