Airport Automation Market to Hit Valuation of USD 7.7 Billion by 2028 | Industry Growth & Forecast
/EIN News/ -- Chicago, July 17, 2024 (GLOBE NEWSWIRE) -- The Airport Automation Market size is projected to grow from USD 5.8 Billion in 2023 to USD 7.7 Billion by 2028, at a Compound Annual Growth Rate (CAGR) of 5.8% from 2023 to 2028. Air travel has been steadily increasing, leading to a surge in the number of passengers passing through airports. To manage this growing demand, airports are turning to automation to optimize processes and reduce congestion.
The increasing adoption of data-backed decision making presents a promising avenue for enhancing airport operations and passenger experiences. By leveraging advanced data analytics and artificial intelligence, airports can collect and analyze vast amounts of data from various sources, including passenger flows, aircraft movements, weather patterns, and operational processes.
To know about the assumptions considered for the study
Major Airport Automation Companies Include:
- Daifuku Co. Ltd. (Japan),
- Collins Aerospace (US),
- Siemens (Germany), and
- Amadeus IT Group (Spain).
Airport Automation Market Segmentation:
Automation and Control Segment to Dominate Market Share During the Forecast Period
Based on System, the Airport Automation Market has been segmented into Data acquisition and Communication, Automation and Control, Data Storage, and System and Software. The integration of advanced technologies, including robotics and AI, into airport automation systems enhances the capabilities of HMIs and AGVs. These innovations contribute to more intelligent decision-making and responsive airport operations.
Air Traffic Management to Hold Large Market Share in 2023
Based application, air traffic management segment to hold large market share in the Airport Automation market. Automated systems provide air traffic controllers with real-time information and contribute to reducing the risk of human error. For instance, automated conflict resolution systems can detect and alert controllers to potential conflicts between aircraft, enhancing overall safety.
The Greenfield Segment is to Witness Grow the Highest During the Forecast Period
Based on end market, greenfield segment witnessing highest growth during forecast period. Greenfield projects provide a unique opportunity for airports to incorporate automation into their design and planning from the outset. This integrated approach allows for the seamless incorporation of automated systems, such as baggage handling, security, and passenger processing, into the airport infrastructure.
Asia Pacific is Projected to Witness the Largest Market Share During the Forecast Period
Asia Pacific leads the Airport Automation Market due presence of key players, automation solution manufacturers, and component manufacturers, which are a few factors expected to drive the growth of the Airport Automation Market in the region. These players invest in developing technological advanced electric boating solutions to improve efficiency and reliability. Major manufacturers and suppliers of Airport Automation in this region include Daifuku Co. Ltd. (Japan), Collins Aerospace (US), Siemens (Germany), and Amadeus IT Group (Spain).
Airport Automation Market Summary:
Airports and airlines are recognizing the paramount importance of prioritizing passenger experience and satisfaction. By adopting automated technologies, such as self-service check-in kiosks, streamlined security procedures, and personalized travel notifications through mobile apps, airports can enhance the overall passenger journey.
Customer-centric automation not only reduces waiting times and improves efficiency but also empowers travelers to have greater control over their travel experience. This emphasis on providing a seamless, hassle-free journey can lead to increased customer loyalty, positive word-of-mouth, and a competitive advantage for airports in attracting more airlines and passengers. As the aviation industry becomes increasingly customer-oriented, the adoption of airport automation solutions becomes a strategic imperative for meeting evolving traveler expectations and demands.
Cybersecurity stands as a critical restraint to the seamless implementation of airport automation. To foster trustworthy automation, it is imperative to prioritize and enhance cybersecurity measures. Robust security protocols and advanced technologies must be in place to safeguard automated systems from potential cyber threats and data breaches. By reinforcing cybersecurity practices, the aviation industry can instill confidence in passengers and stakeholders regarding the reliability and integrity of automated processes, facilitating the successful integration of automation in airport operations.
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