The global airport information systems market share size is projected to reach USD 4.01 billion by the end of 2027. The presence of several large scale companies across the world will emerge in favor of the growth of the overall market in the foreseeable future. According to a report published by Fortune Business Insights, titled “Airport Information Systems Market Size, Share and Covid-19 Impact Analysis, by System (Airport Operation Control Center, and Departure Control System) By Airport (Class A, Class B, Class C, and Class D) By Type (Airside, and Terminal Side), By End End-Use (Passenger Systems, and Non-passenger Systems), By Investment (Greenfield and Brownfield) and Regional Forecasts, 2020-2027,” the market was worth USD 3.27 billion in 2019 and will exhibit a CAGR of 3.45% during the forecast period, 2020-2027.
Airport information systems encompasses several types of equipment that are used at airports for several functions including passenger information display, flight schedules, and other such information. The high investment in technological intervention in the machinery and equipment used at airports will have a positive impact on the growth of the overall market in the forthcoming years. The availability of open source technologies such as artificial intelligence and the internet of things will yield products of the highest calibre. Technological advancements will open up a huge potential for the companies operating in the market. The demand for improved airport infrastructure will have a positive impact on the growth of the overall market in the forthcoming years. The presence of large scale companies operating in several countries across the world will emerge in favour of market growth.
Increasing Investment in Technological Intervention Will Bode Well for Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. The growing efforts taken to enhance technological concepts in airport information systems will emerge in favour of market growth. Increasing number of company mergers have allowed wider product applications, subsequently having a positive impact on the growth of the market in the coming years.
In March 2018, the Las Vegas McCarran International Airport (LAS) announced that it has renewed its passenger solution contract with Rockwell Collins. The company announced that it will look to adopt newer technologies passenger addressing systems, to establish a strong product portfolio. The contract will include solutions such as ARINE MUSE, ARINE BAG LINK, and Radio Frequency Identification (RFID) bag tag support. LAS’ latest contract renewal with Rockwell Collins will not just benefit the company but will have a positive impact on the growth of the overall market in the coming years.
Browse Summary of This Research Report with Detailed Table of Content: https://www.fortunebusinessinsights.com/airport-information-systems-market-103044
List of the Key Companies Operating in the Airport Information Systems Market are:
- IndraSistemas S.A.(Spain)
- Sita (Switzerland)
- Collins Aerospace, a Raytheon Technologies company (The U.S.)
- Thales Group (France)
- Amadeus IT Group SA (Spain)
- Siemens (Germany)
- IBM (The U.S.)
- IkusiRedes de Telecomunicaciones, S.L.(Spain)
- ULTRA (The U.K)
North America to Account for the Highest Share; Increasing Integration of Modern Concepts will Provide Impetus to Market Growth
The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in North America is projected to emerge as the dominant region in the coming years. The increasing modernization techniques use at airports and airline infrastructures will contribute to the growth of the regional market. The presence of several large scale companies will also emerge in favor of market growth.
As of 2019, the market in North America was worth USD 1,036.5 million and this value is projected to increase further in the coming years. The market in Asia Pacific will witness considerable growth owing to the increasing product adoption in several countries across the region.