Global Smart Airport Construction Market 2017-2021
About Smart Airport Construction
Smart airports make systems and processes digitally aware, interconnected, infused with intelligence, and easily accessible by users. The prime idea behind the development of smart airports is to create an integrated system and a unified and ready-to-use digital platform for airports to become intelligent and informed.
Technavio’s analysts forecast the global smart airport construction market to grow at a CAGR of 9.71% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart airport construction market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart Airport Construction Market 2017-2021
Technavio recognizes the following companies as the key players in the global smart airport construction market: AECOM, Bechtel, CH2M, Fluor and TAV Construction.
Other Prominent Vendors in the market are: Amadeus IT Group, Balfour Beatty, Cisco, Crossland Construction, Gilbane, GMR Group, GVK Industries, HDR, Hensel Phelps, Honeywell, IBM, Indra, Jacobs, Kiewit, L&T Construction, Lanco Group, NEC Corporation, Siemens, SITA and Tetra Tech.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is artificial intelligence and robotics at smart airports. The travel sector, especially the aviation industry, is witnessing an increasing use of artificial intelligence and robotics to assist passengers at airports. The first customer-facing robot was introduced in 2013 at Geneva Airport.”
According to the report, one driver in the market is rising numbers of air passengers. The economic development in emerging countries, such as India, China, and Indonesia, is the prime reason for the increase in the number of passengers. It is expected that by 2025, China would overtake the US as the largest aviation market in the world. In addition, India is likely to displace the UK for the third place.
Further, the report states that one challenge in the market is uncertainty in the construction sector. The construction sector is the only industry that has witnessed stagnant productivity in the last 50 years. One of the prime reasons for the stagnant growth of the construction sector is due to the decline in labor productivity. Most of the labor time is wasted on waiting for materials or equipment. This waiting time for materials is followed by the traveling time of these materials to the construction site.
AECOM, Bechtel, CH2M, Fluor, TAV Construction, Amadeus IT Group, Balfour Beatty, Cisco, Crossland Construction, Gilbane, GMR Group, GVK Industries, HDR, Hensel Phelps, Honeywell, IBM, Indra, Jacobs, Kiewit, L&T Construction, Lanco Group, NEC Corporation, Siemens, SITA and Tetra Tech.
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