The market for Airport Information System is expected to reach US$ 5.75 Bn in 2027.
The global airport information system market is growing competently, at a CAGR of 6.1%, and is projected to reach 5.75 Bn by 2027.
The need for technological developments, an increase in upgrading existing systems, and efficient air passenger traffic are factors expected to drive the market. In addition, upgrading and modernization activities of the existing airports, the massive increase in construction of new airports, inclination towards business intelligence solutions, and other major programs for staff and passengers are projected to boost the market growth globally.
Airport business and operation models support the explosive growth in the global airline industry. In addition, regulatory reform in North America, Europe, Asia Pacific, and a few emerging countries is projected to shape a vivid traffic growth for airline passengers. For instance, according to the International Airport Review, global passenger traffic was around 8.8 billion in 2018 and is expected to double its capacity by 2030.
Decreasing costs in air travel, growing economies, and an incipient middle-class level in emerging countries with large populations will create a wave of new potential air travelers, thereby increasing the demand for class B airports. Therefore, the aforementioned factor is expected to drive the demand for the airport identification system market.
The departure control systems (DCS) have reached substantial popularity due to the provision for e-ticket management using interfaces from various devices like online check-in, check-in kiosks, and mobile boarding cards. SITA, Amadeus, and Damarel are a few leading developers of departure control systems (DCS) offering innovative solutions for airline passengers globally. For instance, in June 2018, Amadeus IT Group S.A. announced a global partnership with Adobe Experience Cloud to improve airlines' capabilities, thereby delivering complete digital experiences to air travelers.
North America is expected to dominate the market during the forecast period, assisted by the U.S. and Canada. In addition, increasing research and development and rising technological advancement in the airport information systems to expand the airport information system market in this region. For instance, favorable passenger services like web check-in and home printing of boarding passes save valuable time and evade long queues at airports. Moreover, increasing use of smartphones among passengers and airlines fuels the market growth for airport information systems across the region.
This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall airport information system market. The global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.
The market for Airport Information System is expected to reach US$ 5.75 Bn in 2027.
The Airport Information System market is expected to see significant CAGR growth over the coming years, at 6.1%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Northrop Grumman Corporation, IBM, Advantech, Airport Information Systems, TAV Information Technologies, RESA, Lufthansa Systems GmbH & Co. KG., Velatia, S.L. are some of the major players in the global market.