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Intelligent Airways Transportation System Market Forecast 2027
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Market Overview:
Rapid technological advancement is resulting in continuous upgrading of airport equipment to facilitate safety and efficiency of the airways. The intelligent airways transportation system uses information technology in order to manage airway services. Market Research Future (MRFR) has published a report asserting that the global Intelligent Airways Transportation System market Size is marked to expand remarkably at a CAGR of 11.5% during the forecast period of 2016-2022 and reach the valuation of USD 21.5 Bn by the end of 2022 from USD 11.18 Bn in 2016.
Market Drivers and Restraints:
Increasing adoption of advanced technology and rapid development in artificial intelligence technology are majorly aiding in air traffic organization by maintaining the critical elements of airways transportation systems. Growing trend of internet of things and the benefits of intelligent airways transportation system for enhancing security and service quality are contributing to the significant growth of the global intelligent airways transportation system market. Increasing aircraft fleets and air traffic are inducing high demand for advanced management solutions that provide real-time data, which in turn is propelling the growth of the global intelligent airways transportation system market.
Implementation of intelligent airways transportation system to enhance customer experience and security by making the travel more personalized and for timely managing of services are propelling the growth of the global intelligent airways transportation system market. The features of intelligent airways transportation system that aid in simplifying the complexities regarding the working of airports and airways are inducing demand for advanced solutions, resulting in the expansion of the global intelligent airways transportation system market. However, high cost of upgrades and lack of resources are some of the primary factors that are likely to restrain the growth of the global Intelligent Airways Transportation System Market Size during the forecast period.
Market Segmentation
The global market for intelligent airways transportation has been segmented based on component, deployment, and technology.
Based on components, the global market for intelligent airways transportation has been segmented into hardware and software. The hardware segment is further divided into sensor, display units, closed circuit cameras, networking devices, and others. The software segment includes the backend integration various device.
Based on deployment, the global market for intelligent airways transportation has been segmented into on cloud and on-premises.
Based on technology, the global market for intelligent airways transportation has been segmented into passenger empowerment, smarter baggage solutions, data science, biometric-enabled self-service, robotics, and artificial intelligence, and others.
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Regional Analysis
By region, the global market for intelligent airways transportation has been segmented into North America, Europe, the Asia Pacific, and the Middle East & Africa.
North America is expected to boost the intelligent airways transportation market as a result of intensive research and development in airline-related smart technology, high penetration of the Internet of Things, and the growth of a range of IoT and cloud-related technologies in the region. The North American region is projected to have the largest market share with the presence of early-stage technology adopters in the region. The region also has the involvement of technologically advanced countries such as the U.S. and Canada that facilitate the development of the market for intelligent airways transportation system.
Europe has benefited most from the government's comprehensive airport automation initiatives.
The Asia Pacific market is projected to see the highest growth due to a steady increase in the number of operating airports, growing demand for airport information systems, growing acceptance of advanced airport technologies, and an improved baggage handling system.
Key Players
The key participants in the Intelligent Airways Transportation System market are – Amadeus IT Holding S.A. (Spain), NEC Corporation (Japan), CISCO Systems Inc.(U.S.), Indra Sistemas S.A. (Spain), International Business Machines Corporation (IBM) (U.S.), Rockwell Collins Inc.(U.S.), Siemens AG (Germany), Unisys Corporation (U.S.), Honeywell Corporation Inc. (U.S.) SITA (Switzerland) among others.
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