Yahoo Finance Airport Information Systems Market to Hit USD 4.20 Billion by 2028; Rising Air Traffic to Augment Market Growth, Says Fortune Business Insights™
Companies covered in the airport information systems market are ADB SAFEGATE (The U.S.), Amadeus IT Group SA, Collins Aerospace, Damarel Systems International Ltd, IBM, IndraSistemas S.A, INFORM Software, Northrop Grumman Corporation and more players profiled
Pune, India, Oct. 27, 2021 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, the global airport information systems market size is expected to gain momentum by reaching USD 4.20 billion by 2028 while exhibiting a CAGR of 3.89% between 2021 to 2028. In its report titled “Airport Information Systems Market, 2021-2028,” Fortune Business Insight mentions that the market stood at USD 3.17 billion in 2020.
Airport Information Systems (AIS) provide information and messages to all staff members and passengers, it helps in advertising, flight departure updates, and weather updates for an easy flight. The system includes various equipment such as passenger information display systems (FIDS) and baggage handling and management systems to aircraft, provides flight information systems, efficient airport security systems, a system for terminal services, and emergency departments, and passenger information systems. Due to such varied use, the aviation industry is investing in this technology. For instance, in 2019, SITA’s air transport IT insights showed that 88% of both airports and airlines plan major research and development programs with artificial intelligence by 2022. The heavy investment in aviation technologies meets the demands of passengers, with 64% of people wanting a digital travel concierge.
COVID-19 Impact Analysis:
The COVID-19 pandemic adversely affected the aviation industry. The market witnessed a decline in demand AIS due to airport shutdowns, reduced economy, and disruption in the supply chain worldwide. For instance, a report by the International Civil Aviation Organization (ICAO), the international air passenger traffic declined by 60%, and airlines faced revenue loss of approximately USD 371 billion amid pandemic.
Key Insights
Key Industry Developments –Mergers, Acquisitions and Partnerships
Latest technological Advancements
Porters Five Forces Analysis
Supply Chain Analysis
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List of Key Players Profiled in Report
ADB SAFEGATE (The U.S.)
Amadeus IT Group SA (Spain)
Collins Aerospace (The U.S.)
Damarel Systems International Ltd. (The U.K)
IBM (The U.S.)
IndraSistemas S.A. (Spain)
INFORM Software (Germany)
Northrop Grumman Corporation (The U.S.)
Siemens (Germany)
SITA (Switzerland)
Thales Group (France)
Market Segmentation:
By system, the market is divided into airport operation control center and departure control system. By airport, it is segmented into, class A, class B, class C, and class D. By type, it is divided into airside, and terminal side. By end-use, it is segmented into passenger systems and non-passenger systems. By investment, it is divided into brownfield and greenfield. Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Rest of the World.
Report Coverage-
The research report focuses on analyzing the Airport Information Systems technology by taking into consideration contributions, prospects, and growth trends. It presents detailed profiles of key players present in the market to determine their competencies in each segment. Besides, it ensures to help our clients better understand the competitive landscape, such as mergers & acquisitions, new product launches, joint ventures, and collaborations.
Browse Detailed Research Insights with Impact of COVID-19 Analysis:
https://www.fortunebusinessinsights.com/airport-information-systems-market-103044
Driving Factor
Increase in Air Traffic to Fuel Market Growth
The increasing air traffic and rising demand for real-time data sharing among passengers is propelling the demand for Airport Information Systems (AIS) market growth. Additionally, the developing airport infrastructure and its modernization is also accelerating the demand. For instance, as per International Air Transport Association (IATA), the number of passengers is expected to double to 8.2 billion by 2037. The report also suggests that China alone will have 1 billion new passengers while the U.S. is expected to have 481 million new passengers in the next 20 years. Therefore, a rising number of people who are preferring air travel will promote the market growth.
Regional Insights
North America to Dominate Backed by Increasing Adoption of Pets in the Region
North America is expected to remain at the forefront and hold the highest position market during the forecast period. This is attributable to due to the presence of the highest aircraft fleet and a large number of airlines across the United States. Additionally, the presence of a large number of airports and increasing investment on airlines for the modernization of airports is driving the regional market. The region’s market stood at USD 1.00 billion in 2020.
Asia Pacific is expected to show significant Airport Information Systems market share owing to the growing urbanization and rising disposable income. Moreover, rapid expansion of the aviation sector across China and India is accelerating the regional market. For instance, in 2020, the Indian Finance Ministry made an announcement that it will develop 100 new airports by 2024.
Competitive Landscape
Key Players to Focus on Collaborations & Investment to Strengthen their Market Prospectus
The global market contains a large number of prominent companies that are constantly trying to develop unique devices to cater to the demand from patients across the globe. To do so, they are joining hands with local or reputed firms, launching new solutions, doing partnerships and collaborations to strengthen their portfolio in the market.
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