North America Smart Airport Market Size, Share, Growth Factors, Competitive Landscape, with Regional Forecast to 2028

According to Business Market Insights’ research, the North America Smart Airport Market was valued at US$ 5,176.52 million in 2022 and is expected to reach US$ 11,633.15 million by 2028, registering an annual growth rate of 14.4% from 2022 to 2028. Airport construction initiatives and emerging need for cost-effective airport systems are the critical factors attributed to the market expansion.       

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The List of Companies 

  1. Amadeus IT Group SA
  2. Cisco Systems, Inc.
  3. Collins Aerospace
  4. Daifuku Co., Ltd.
  5. Honeywell International Inc.
  6. Huawei Technologies Co., Ltd.
  7. Indra Sistemas, S.A.
  8. SITA
  9. Thales Group
  10. T-Systems International GmbH

The Challenge of Airport Operational Costs and the Rise of Smart Solutions

Airport operations are burdened by significant costs. According to the International Air Transport Association (IATA), expenses can reach nearly $10 per passenger in aeronautical revenue, $7 in non-aeronautical revenue, and over $13 in total costs. These high figures are compounded by the expense of deploying and maintaining complex operational systems. Furthermore, the Airports Council International (ACI) reports that a staggering two-thirds of smaller airports, handling under 1 million passengers annually, suffered financial losses during 2020-2021.

To combat these challenges, the airport industry is embracing smart, connected technologies. These innovations offer a pathway to improved service quality, consistent customer experiences, and enhanced profitability for all stakeholders. Advancements in information and communication technology, the Internet of Things (IoT), data analytics, and security systems are transforming airport operations across the board.

Smart Parking: A Cost-Effective Solution

One prime example of a cost-effective solution is smart parking systems. These systems guide passengers to available parking spots, optimize capacity, and enable predictive planning for future expansion. By integrating mobile apps with e-ticketing, airports create a seamless passenger experience, boost operational efficiency, and generate increased revenue while minimizing costs.

Driving Growth in the North American Smart Airport Market

The pressing need for cost-effective airport systems is a major catalyst for growth in the North American smart airport market. Vendors who introduce innovative features and technologies stand to attract new customers and expand their reach into emerging markets. This dynamic environment is expected to propel the market forward at a robust Compound Annual Growth Rate (CAGR) in the coming years.

About Us:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights

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