North America Airport Asset Tracking Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Offering (Hardware and Software), and Asset Type (Fixed Assets, Portable Assets, and Mobile Assets)
Market Introduction
Airports possess a wide range of assets, including several ground support equipment used for aircraft service between flights. For many years, a growing number of players have launched various tracking solutions used for keeping a track of these assets, thereby enhancing the productivity of ground-handling operations as well as maintenance practices. Generally, airport assets are categorized into motorized (ground service equipment) and non-motorized equipment. Airport asset tracking and management solutions enable operators to have a graphical illustration of ground handling processes as well as obtain status and location of fleet assets historically and in real-time. A rise in the number of flights in North America owing to the increasing number of air passengers is a key factor driving the growth of the North America airport asset tracking market. Airlines and airport authorities are under tremendous pressure to offer enhanced customer service, along with operating efficiently. Thus, to gain cost-competitiveness and save time, airlines are increasingly investing in advanced software, which is expected to boost the North America airport asset tracking market growth in the coming years.
Furthermore, COVID-19 is having a very devastating impact over the North America region. Presently, the US is the worst-affected country due to the COVID-19 outbreak. North America is one of the most important regions for the adoption and growth of new technologies including airport asset tracking owing to favorable government policies to boost innovation, the presence of a high-tech companies, and high purchasing power, especially in developed countries such as the US and Canada. The US is the worst-hit country in North America, with thousands of infected individuals facing severe health conditions across the country. The continuous growth of infected individuals had led the government to impose lockdown across the nation’s borders in last few months. The airport closure for regular passengers has led the airports to experience deflation in revenue. The adoption rate of technological adoption among US airports is decent, and owing to the closure of airports, the demand for airport asset tracking market has shrunken to a drastic level. This is showcasing a negative effect on the airport asset tracking market. However, the impact of COVID-19 is short-term and is likely to decrease by 2022.
Get more information on this report :
Market Overview and Dynamics
The airport asset tracking market in North America is expected to grow from US$ 73.0 million in 2019 to US$ 158.1 million by 2027; it is estimated to grow at a CAGR of 10.7% from 2020 to 2027. The airport asset tracking market players are known to provide various types of offerings. They offer solutions solely for tracking and managing precise airport assets, solutions for a wide range of tasks in the aviation industry. The market also includes telematics providers catering to other sectors. In the recent past, several partnerships among these players have been witnessed. For instance, in November 2019, Sigfox, an IoT service provider, partnered with a travel firm named Amadeus. The partnership was aimed at offering tracking software for luggage and airplane equipment. In March 2019, Menzies, a ground services provider, partnered with Smarter Asset Management for its Gen3 telematics system. In April 2018, TCR Group, an airport ground support equipment rental company, partnered with Targa Telematics and Sensolus. The partnership was focused on enhancing real-time monitoring of ground support equipment vehicles and motorized assets. In April 2018, Honeywell Aerospace partnered with Pinnacle, a telematics provider, to expand Honeywell’s GoDirect connected services to the ground. The partnership was meant to connect a ramp service of Swissport airport into a unique single solution that provides airlines and ground handlers with in-depth knowledge of vehicle movement in real-time across the airport. Such partnerships amongst ecosystem players offer lucrative growth opportunities for the future growth of the North America airport asset tracking market players.
Key Market Segments
In terms of offering, the hardware segment accounted for the largest share of the North America airport asset tracking market in 2019. In terms of asset type, the mobile assets segment held a larger market share of the North America airport asset tracking market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the airport asset tracking market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Adveez; Asset Fusion Limited; Ctrack; Geotab Inc.; Radiant RFID, LLC; Steerpath Oy; Unilode Aviation Solutions.
Reasons to buy report
- To understand the North America airport asset tracking market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America airport asset tracking market
- Efficiently plan M&A and partnership deals in North America airport asset tracking market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America airport asset tracking market
- Obtain market revenue forecast for airport asset tracking market by various segments from 2020-2027 in North America region.
North America Airport Asset Tracking Market Segmentation
North America Airport Asset Tracking Market - By Offering
- Hardware
- Software
North America Airport Asset Tracking Market - By Asset Type
- Fixed Assets
- Portable Assets
- Mobile Assets
North America Airport Asset Tracking Market - By Country
- US
- Canada
- Mexico
North America Airport Asset Tracking Market - Company Profiles
- Adveez
- Asset Fusion Limited
- Ctrack
- Geotab Inc.
- Radiant RFID, LLC
- Steerpath Oy
- Unilode Aviation Solutions
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Airport Asset Tracking Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America Airport Asset Tracking Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Acceptance of Common Platform by Various Asset Tracking Tasks
5.1.2 Growing Number of Airports Leading to Surge in Air Traffic
5.2 Market Restraints
5.2.1 Developed Countries Witnessing Low Investments on Airports
5.3 Market Opportunities
5.3.1 Ecosystem Players Building More Partnerships
5.3.2 More Smart Airports Getting Developed
5.4 Future Trends
5.4.1 Coming up of Low-Power Wide-Area Networks
5.5 Impact Analysis of Drivers and Restraints
6. Airport Asset Tracking Market – North America Analysis
6.1 North America Airport Asset Tracking Market Overview
6.2 North America Airport Asset Tracking Market –Revenue, and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Key Players
7. North America Airport Asset Tracking Market Analysis – By Offering
7.1 Overview
7.2 North America Airport Asset Tracking Market, By Offering (2019 and 2027)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Airport Asset Tracking Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: Airport Asset Tracking Market – Revenue and Forecast to 2027 (US$ Million)
8. North America Airport Asset Tracking Market Analysis – By Asset Type
8.1 Overview
8.2 North America Airport Asset Tracking Market Breakdown, by Asset Type, 2019 & 2027
8.3 Fixed Assets
8.3.1 Overview
8.3.2 Fixed Assets Market Revenue and Forecast to 2027 (US$ Million)
8.4 Portable Assets
8.4.1 Overview
8.4.2 Portable Assets Business Market Revenue and Forecast to 2027 (US$ Million)
8.5 Mobile Assets
8.5.1 Overview
8.5.2 Mobile Assets Market Revenue and Forecast to 2027 (US$ Million)
9. North America Airport Asset Tracking Market – Country Analysis
9.1 Overview
9.1.1 North America: Airport Asset Tracking Market, by Key Country
9.1.1.1 US: Airport Asset Tracking Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 US: Airport Asset Tracking Market, by Offering
9.1.1.1.2 US: Airport Asset Tracking Market, by Asset Type
9.1.1.2 Canada: Airport Asset Tracking Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Canada: Airport Asset Tracking Market, by Offering
9.1.1.2.2 Canada: Airport Asset Tracking Market, by Asset Type
9.1.1.3 Mexico: Airport Asset Tracking Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Mexico: Airport Asset Tracking Market, by Offering
9.1.1.3.2 Mexico: Airport Asset Tracking Market, by Asset Type
10. Impact of COVID-19 on North America Airport Asset Tracking Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Airport Asset Tracking Market-Industry Landscape
11.1 Market Initiative
11.2 Merger and Acquisition
12. Company Profiles
12.1 Steerpath Ltd.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Geotab Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Unilode Aviation Solutions
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Radiant RFID, LLC
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Adveez
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Asset Fusion Limited
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Ctrack
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Airport Asset Tracking Market –Revenue and Forecast to 2027 (US$ Million)
Table 2. US: Airport Asset Tracking Market, by Asset Type –Revenue and Forecast to 2027 (US$ Million)
Table 3. Canada: Airport Asset Tracking Market, by Offering –Revenue and Forecast to 2027 (US$ Million)
Table 4. Canada: Airport Asset Tracking Market, by Asset Type –Revenue and Forecast to 2027 (US$ Million)
Table 5. Mexico: Airport Asset Tracking Market, by Offering –Revenue and Forecast to 2027 (US$ Million)
Table 6. Mexico: Airport Asset Tracking Market, by Asset Type –Revenue and Forecast to 2027 (US$ Million)
Table 7. North America Airport Asset Tracking Market: List of Abbreviation
LIST OF FIGURES
Figure 1. North America Airport Asset Tracking Market Segmentation
Figure 2. North America Airport Asset Tracking Market Segmentation – By country
Figure 3. North America Airport Asset Tracking Market- Country Analysis
Figure 4. North America Airport Asset Tracking Market Overview
Figure 5. Hardware Segment Is Expected To Dominate The Market By Offering
Figure 6. Mobile Assets Segment Is Expected To Witness The High Growth During The Forecast Period 2020-2027
Figure 7. North America PEST Analysis
Figure 8. North America Airport Asset Tracking Market, Ecosystem
Figure 9. North America Airport asset tracking Market Impact Analysis of Drivers and Restraints
Figure 10. North America Airport Asset Tracking Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. North America Airport Asset Tracking Market Revenue Share, by Offering (2019 and 2027)
Figure 12. North America Hardware: Airport Asset Tracking Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. North America Software: Airport Asset Tracking Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. North America Airport Asset Tracking Market Breakdown, by Asset Type (2019 and 2027)
Figure 15. North America Fixed Assets Market Revenue and Forecast to 2027(US$ Million)
Figure 16. North America Portable Assets Business Market Revenue and Forecast to 2027(US$ Million)
Figure 17. North America Mobile Assets Market Revenue and Forecast to 2027(US$ Million)
Figure 18. North America: Airport Asset Tracking Market Revenue Share, By Key Country (2019 and 2027)
Figure 19. US: Airport Asset Tracking Market – Revenue and Forecast To 2027 (US$ Million)
Figure 20. Canada: Airport Asset Tracking Market – Revenue and Forecast To 2027 (US$ Million)
Figure 21. Mexico: Airport Asset Tracking Market – Revenue and Forecast To 2027 (US$ Million)
Figure 22. Impact of COVID-19 Pandemic in North America Market
- Adveez
- Asset Fusion Limited
- Ctrack
- Geotab Inc.
- Radiant RFID, LLC
- Steerpath Oy
- Unilode Aviation Solutions
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America airport asset tracking market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America airport asset tracking market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the airport asset tracking market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution