“Airport Information System Market: Global Demand Analysis & Opportunity Outlook 2024”
The global airport information system market is segmented into solutions such as flight information display system (FIDS), resource management solutions, public address systems, baggage processing, passenger processing, airport operations, airport information, and airport operational database (AODB). Among these segments, baggage processing segment is expected to lead the overall airport information system market by 2024. In addition to this, the growth of baggage processing segment is attributed to the growing demand for proper baggage management at the airport. Likely, rising trend of self-service at airports is one the major factor pushing the market of airport information system.
Global airport information system market is projected to showcase a remarkable CAGR of 7.2% during the forecast period i.e. 2017-2024. Moreover, the global airport information system market is anticipated to reach exponential revenue of USD 49.8 Billion by 2024. Additionally, the airport information system market is riding on the back numerous factors such as increasing spending of IT sector into airports and government initiatives to improve airport infrastructure.
The commercial segment by airport category is envisioned to attain a reparable CAGR during the forecast period. Moreover, increasing number of air travellers across the globe along with augmented demand for advance management systems at airports is believed to foster the growth of global commercial airport information system market. In terms of geography, North America and Europe are the most notable market of airport information system due to presence of hi-tech airports. Moreover, U.S. captured the lion share in North America airport information system market. Apart from this, Asia-Pacific is predicted to grow at an outstanding CAGR of 7.3% during the forecast period owing to emerging economies such as China and India.
Rising Number of Air Travelers
According to International Air Transport Association (IATA), the international passenger traffic upsurge by 6.7% in 2016 compared to 2015. Further, rise in air traffic is plunging the market of airport information system for better airport management. This factor is envisioned to flourish the growth of airport information system market all across the globe by 2024.
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Increasing Government Initiatives
Increasing expenditure by government to uplift the aircraft industry is projected to bolster the growth of airport information system market. For instance, Airports Authority of India (AAI) is taking initiatives for the development of new airports at different cities in India such as Lucknow, Deoghar, Rajkot and Allahabad. This factor is also believed to bolster the growth of information system market.
Although, dearth of integration of airport information systems in underdeveloped nations is anticipated to dampen the growth of airport information system market across the globe.
The report titled “Airport Information System Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global airport information system market in terms of market segmentation by operation, by solutions, by airport category and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global airport information system market which includes company profiling of Amadeus IT Group SA, SITA, Rockwell Collins, Inc., Siemens Postal, Parcel & Airport Logistics GmbH, INFORM GmbH, Intersystems Group, Lockheed Martin Corporation, RESA, S.A.S., VELATIA, S.L., The Ultra Electronics Group. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global airport information system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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