Global Airport Information System Market - Growth, Trends, and Forecast (2018 - 2023)
Global airport information system market is estimated to register a CAGR of 6% with the market estimated to reach USD 5 Billion, at the end of the forecast period. With the increase of Grade I and Grade II airports in the developing economies, the numbers are anticipated to grow. The leading companies that provide the technology for the airport information system market are Northrop Grumman Corporation, IBM, Advantech, Airport Information Systems, Ikusi S.A, TAV Information Technologies. With the increase of Grade I and Grade II airports in the developing economies, like India and other emerging economies, the numbers are anticipated to grow.
Gradings of the Airport
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.
Levereged on Technology
As the air travel time between the cities and countries is getting lesser, in an entirely interconnected, digitized and advanced world of airports, an airport information system is vital. These technologies provide efficiency of operations and dramatically reduce the operational costs associated with running an airport thus helping the travelers for a hassle free stay at the airport. Also problems like lost baggage, missing of flights by passengers, general confusion is avoided by using such systems.
In the past 5 years, the informational technology expenditure by airports has increased dramatically by over 50% and this has fuelled the airport information system market. In recent years, especially in countries of the Asia Pacific and Africa, there has been massive increase in constructions of new airports, and upgrading and modernization activities of the existing ones as well. India, in particular, is giving a massive push to building new airports and upgrading existing ones to make flying more accessible to the masses and attract new travelers. Indian Airports in general have also have been on modernization drive and some of them, like Delhi's Indira Gandhi International Airport features as the top ranked airports in the world and recently India’s homegrown airlines company Indigo started its (Regional Air Transport) ATR service paving way for building smaller town to town airports. Thus, the emerging markets are anticipated to be the growth drivers in the airport information system market.
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.
AirportIS by Airport Intelligence Services is a market intelligence tool that offers airports a global solution under a single platform that provides Origin and Destination (O&D) information, which provides passenger data. It is bundled with SRS Analyzer delivers the accurate and reliable traffic data and timely schedule information available combining total market supply and demand in a single platform.Major Players: NORTHROP GRUMMAN CORPORATION, IBM, LOCKHEED MARTIN (CHROMA), amongst others.
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