Advanced Airport Technologies Market Outlook – 2027
Airports are rapidly increasing their investments in advancing technologies to provide better services and enhance customer experience, owing to rising air traffic. In addition, rise in competition has insisted airport authorities to modernize the environment by incorporating technology in various airport systems such as airport communications, security systems, airport management systems, digital signage system, passenger & baggage handling, fire systems, and car parking systems. This integration of technology upgrades airport services, boosts customer faith, and generates more interest. This fuels the demand for the global advanced airport technologies market.
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Companies covered: Hitachi Ltd., Thales Group, Smiths Detection Group Ltd., Analogic Corporation, L3Harris Technologies Inc., NEC Corp, Honeywell International Inc., Cisco Systems Inc., Leidos Holdings Inc., and Johnson Controls International PLC
COVID-19 scenario analysis:
Advanced airport technologies production is expected to be more agile after the end of COVID-19.
The supply chain disruption is expected to affect the future growth of the companies due to the lockdown.
The revenue is not being generated for companies due to the ongoing pandemic, thereby resulting in major losses throughout the year.
Companies have to deal on a significant margin basis to revive the market.
A huge monetary loss has been accounted for in the revenue generation of the advanced airport technologies companies due to the lockdown.
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Change in lifestyle and globalization has led to a significant surge in air traffic over the past decade. This has resulted in an increasing number of passengers opting for air travel. The assurance of safety and provision of hassle-free services at the airport also encourage individuals to opt for air travel. Moreover, the tech-friendly population seems to get diverted toward technologically advanced systems. Therefore, the demand for advanced airport technologies is expected to increase further. In addition, increase in spending on technologies by airport authorities and the provision of better services & enhanced customer experience are anticipated to push the demand in the global market.
The global advanced airport technologies market trends are as follows:
Increase in air traffic to boost the application of advanced airport technologies
Airports are expecting a surge in airport security norms. In addition, implementation of initiatives to provide hassle-free experience to passengers boosts the growth of the advanced airport technologies market. Moreover, the number of passengers has flooded along with problems such as managing the air traffic. This causes hindrances such as service disruptions, baggage issues, long check-in lines, and others. Therefore, to reduce the impact of such hindrances and provide a smooth journey, advanced airport technology plays a vital role. Facilities, such as face recognition systems and self-check-in kiosks, ease the passenger comfort at their convenience, which, in turn, is anticipated to boost the growth of the global advanced airport technologies market.
Enhanced performance and surge in expenditure to foster the market growth
The privatization of airports has promoted competition among the competitors, which is expected to push the demand for advanced airport technologies. In addition, the integration of such technologies allows world-class facilities and a competitive edge, ultimately providing better customer experience, and is predicted to be the key to attain customer preference. From body imaging systems at checkpoints to advancements bomb in detection systems, airport authorities have been dynamically adopting technology in advancing their existing services. Moreover, to enhance the overall experience of passengers, technological advancements, such as advanced radar systems, service-kiosks, display technologies, control software, check-in systems for passengers, and others, have been highly used in daily airport operations. Furthermore, the rise in spending by airport authorities fuels the demand for advanced airport technologies.
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Key benefits of the report:
This study presents the analytical depiction of the global advanced airport technologies market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global advanced airport technologies market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global advanced airport technologies market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global advanced airport technologies market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the advanced airport technologies market research report:
Which are the leading market players active in the market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities of the market?
What are the projections for the future that would help in taking further strategic steps?
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