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.
According to International Air Transport Administration, the airport operational costs can be as high as US$ 9.95 per passenger aeronautical revenue, US$ 7.08 per passenger non-aeronautical revenues, and US$ 13.69 per passenger total cost. The systems deployed for performing airport operations are expensive and incur recurring costs to airports for their servicing, upgrading, and maintenance. Also, according to the Airports Council International (ACI), 2/3rd of airports among all the airports that handle less than 1 million passengers annually witnessed loss during 2020-2021. The airport industry is adopting newer and smarter connected technologies to provide superior services, consistent customer experience, and profitable engagements for airport stakeholders. Advancements in information, communication, IoT, data analytics, enhanced security systems, and other technologies also help airports enhance every aspect of their business. Similarly, the deployment of smart parking in smart airports is one of the major examples of cost-effective airport systems. These systems provide directions to passengers to find available parking spaces. Airport operators can gain greater visibility into their current capacity and predict the capacity expansion requirements. Mobile smart parking apps can also be integrated with e-ticketing for parking to provide a seamless passenger experience and improve operational efficiency and reliability of parking areas, resulting in greater revenue generation at a low cost for airport administrations. Therefore, emerging need for cost-effective airport systems is expected to drive the North America smart airport market growth in the coming years.
By introducing new features and technologies, vendors in the North America smart airport market can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the market growth at a good CAGR during the forecast period.
North America Smart Airport Market Segmentation
The North America smart airport market is segmented on the basis of component, application, and country. Based on component, the market is bifurcated into hardware and software. The hardware segment dominated the market in 2022. The market for the hardware segment is further segmented into security system, communication and navigation system, endpoint devices, and data storage. Based on application, the North America smart airport market is segmented into terminal side, airside, and landside. The terminal side segment dominated the market in 2022. Based on country, the market is segmented into the US, Canada, and Mexico. The US dominated the market in 2022.
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 are among the leading companies in the North America smart airport market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 5,176.52 Million |
| Market Size by 2028 | US$ 11,633.15 Million |
| CAGR (2022 - 2028) | 14.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Component
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Smart Airport Market is valued at US$ 5,176.52 Million in 2022, it is projected to reach US$ 11,633.15 Million by 2028.
As per our report North America Smart Airport Market, the market size is valued at US$ 5,176.52 Million in 2022, projecting it to reach US$ 11,633.15 Million by 2028. This translates to a CAGR of approximately 14.4% during the forecast period.
The North America Smart Airport Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Smart Airport Market report:
The North America Smart Airport Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Smart Airport Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Smart Airport Market value chain can benefit from the information contained in a comprehensive market report.
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