At 16.8% CAGR, the Europe Smart Airport Market is projected to be worth US$ 21,558.33 million by 2028, says Business Market Insights        

According to Business Market Insights’ research, the Europe smart airport market was valued at US$ 8,470.36 million in 2022 and is expected to reach US$ 21,558.33 million by 2028, registering an annual growth rate of 16.8% from 2022 to 2028. Focus of vendors on customer-centric offerings and growing investments from airport authorities for deployment of smart connected systems are the critical factors attributed to the market expansion.           

Companies in the smart airport industry are focusing on providing customer-centric solutions to boost the adoption of smart airport technologies. Passengers' demand for baggage tracking is on the rise across the region, which is one of the focus areas for airport authorities. Vendors in the smart airport market focus on providing smart airline baggage management systems to airlines to automate their business operations and provide a better experience to passengers. Such systems are integrated with cloud-based airline applications and databases, cloud-based analytics, and a machine-to-machine (M2M) and IoT platform to connect, manage, and secure real-time data and events from smart luggage. Moreover, the deployment of baggage management systems in airports also helps to reduce the overall operational costs, along with boosting overall operational efficiencies. So, focus of vendors on customer-centric offerings is expected to drive the market growth across the region.

On the contrary, threat of cyberattacks to smart airport systems hurdles the growth of Europe smart airport market.    

Based on component, the Europe smart airport market is bifurcated into hardware and software. The hardware segment held 68.8% market share in 2022, amassing US$ 5,823.68 million. It is projected to garner US$ 14,444.03 million by 2028 to expand at 16.3% CAGR during 2022–2028. The hardware segment is further categorized into security system, communication and navigation system, endpoint devices, and data storage.  

Based on application, the Europe smart airport market is segmented into terminal side, airside, and landside. The terminal side segment held 51.9% market share in 2022, amassing US$ 4,397.76 million. It is projected to garner US$ 11,800.81 million by 2028 to expand at 17.9% CAGR during 2022–2028.      

Based on country, the Europe smart airport market has been categorized into the UK, Germany, France, Italy, Russia, and rest of Europe.  Our regional analysis states that Germany captured 35.1% market share in 2022. It was assessed at US$ 2,972.77 million in 2022 and is likely to hit US$ 7,372.95 million by 2028, exhibiting a CAGR of 16.3% during the forecast period.        

Key players dominating the Europe smart airport market are 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; and T-Systems International GmbH. among others.   

• In 2021, Thales has finished installing automatic border control gates (ABC gates) at three additional Spanish airports: Reus (REU), Girona-Costa Brava (GRO), and Tenerife Sur (TEN) (TFS).

• In 2021, T-Systems, a subsidiary of Deutsche Telekom, has partnered with Frequentis to digitise airports throughout the world in order to optimise procedures in the passenger, logistical, and airside domains.

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