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LONDON, GREATER LONDON, UNITED KINGDOM, October 30, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The airport technologies market has seen robust growth in recent years, expected to increase from $13.02 billion in 2023 to $13.74 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. This expansion during the historical period can be attributed to the rise in air travel, advancements in security, improvements in passenger experience, and sustainability initiatives.
What Is the Projected Market Size of the Global Airport Technologies Market and Its Growth Rate?
The airport technologies market is expected to experience strong growth in the coming years, reaching $16.71 billion by 2028 at a compound annual growth rate (CAGR) of 5.0%. This growth will be driven by the development of smart airports, the adoption of biometrics and contactless travel, increased automation and robotics, and a focus on sustainable practices.
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What are the Key Drivers Fueling Growth in the Airport Technologies Market?
The increasing volume of air passenger traffic is expected to drive the growth of the airport technologies market in the coming years. Air passenger traffic refers to the movement of people via commercial airlines from one destination to another. Advanced airport technologies play a crucial role in efficiently managing this rising traffic by enhancing passenger experiences and optimizing various airport operations, such as security, baggage handling, and air traffic control.
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Who Are the Key Players Driving Growth in the Airport Technologies Market?
Key players in the market include Thales ATM S.A., Honeywell Airport Solutions Inc., Siemens Airports LLC, Raytheon Technologies Corporation, Cisco Systems Inc., Hitachi Ltd., Bosch Security Systems Inc., Rockwell Automation Inc., Analogic Corporation, Smiths Detection International Ltd., Oshkosh Corporation, MATRIX SYSTEMS Inc., DSG SYSTEMS AG, Airport Information Systems Ltd., Garrett Metal Detectors LLC, KUKA Aktiengesellschaft, Pensher Skytech Limited, Vanderlande Industries Holding B.V., Syagen Technology Inc., Arinc Inc., A4 Vision Inc., American LaFrance LLC, Amadeus IT Group S.A., International Business Machines Corporation,
What Are The Emerging Trends Shaping The Growth Of The Airport Technologies Market?
Leading companies in the airport technology market are creating cutting-edge software, including the NAVITAS software suite, to secure a competitive edge and improve their product offerings. The NAVITAS software suite is an advanced aviation solution that integrates artificial intelligence, machine learning, cybersecurity, and big data technologies to optimize airport operations and enhance air traffic management.
What Are the Segments of the Global Airport Technologies Market?
1) By Type: Airport Digital Signage Systems, Car Parking Systems, Airport Communications, Landing Aids, Guidance and Lighting, Passenger, Baggage and Cargo Handling Control Systems, Airport Management Software
2) By Airport Size: Small, Medium, Large
3) By Application: Domestic Airport, International Airport
Geographic Overview: Asia-Pacific at the Helm of the Airport Technologies Market
Asia-Pacific was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the airport technologies market report during the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
How Is The Airport Technologies Market Defined?
Airport technologies encompass the application of modern technology within airport facilities to improve the overall experience for passengers.
The Airport Technologies Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Airport Technologies Market Report: Trends, Opportunities, Strategies, and More
The Airport Technologies Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into airport technologies market size, airport technologies market drivers and trends, airport technologies competitors' revenues, and airport technologies market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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