Airport Information System Market: Analysis of Growth, Trends Progress and Challenges (2018-2023)
Airport Information System Market
The market is estimated to reach USD 4.39 billion by 2020, growing at a CAGR of 6.06% during the forecast period.
In the fully interconnected and digitized world of airports, an airport information system is of vital importance as it provides efficiency of operations and greatly reduces the operational costs associated with running an airport. Also problems like lost baggage, missing of flights by passengers, general confusion is avoided by using such systems.
Based on the size of the Airports , the market is segmented into Grade 1, Grade 2, Grade 3 and Grade 4. Grade 1 airport are ones which handle less than 15 million passengers annually, Grade 2 airports are ones which handle 15-25 million passengers annually, Grade 3 airports handle 25-40 million passengers annually and grade 4 airports handle in excess of 40 million passengers on an annual basis.
In the past 5 years Informational Technology spend on airports has increased dramatically by over 50 % and this has fuelled the Airport Information System market. In recent years especially in countries of Asia Pacific and Africa, there have been massive constructions of new modern airports and up gradation and modernization activities of the existing ones as well. India in particular is giving massive push to building new airports and up grading existing ones to make flying more accessible to the masses. Indian Airports in general have also have been on modernization drive and some of them like the Indira Gandhi International Airport features as the top ranking airports in the world. Thus it seen that emerging markets will lead the growth in the Airport Information system market, as majority of the airports in African and Asia Pacific region do not have modern Airport Information Systems and growing incomes in that region will support the required modernization.
The grade 2 airports will command the majority share in the Airport Information System Market and the Asia Pacific region will be the fastest growing region.
What the report offers
The study identifies the situation of Airport information systems Market and predicts its growth. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the Airport information systems Market. In addition to it, the report also talks about economic conditions of and future forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. Lastly, the report is segmented on the basis of airport size, application, software, cost and region