Market Size of Smart Airport Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.89 Billion |
| Market Size (2029) | USD 3.58 Billion |
| CAGR (2024 - 2029) | 13.63 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Smart Airport Market Analysis
The Smart Airport Market size is estimated at USD 1.89 billion in 2024, and is expected to reach USD 3.58 billion by 2029, growing at a CAGR of 13.63% during the forecast period (2024-2029).
- Following the advent of the COVID-19 pandemic, the demand for smart airport technologies increased due to investments in integrating advanced technologies, such as self-service check-in kiosks, biometric kiosks, and touchless solutions. Furthermore, due to the lower passenger traffic levels at the airports, the airport operators could easily integrate and implement new advanced technologies.
- The recovery in passenger traffic in the coming years, the implementation of advanced technologies in airports such as IT, electronics and control systems, robotics, data analytics, and so on for efficient management at a lower cost, and the need to improve the passenger experience in airports are all expected to accelerate the growth of the smart airport market during the forecast period.
- According to the latest updates from the International Air Transport Association (IATA), the International Civil Aviation Organization (ICAO), the Airports Council International (ACI), the UN World Tourism Organization (UNWTO), the World Trade Organization (WTO), and the International Monetary Fund (IMF), the international air passenger traffic in 2022 improved compared to that of 2021. The international air passenger traffic during 2022 increased by 152.7% YoY, while the revenue passenger kilometers (RPK) grew by 64.4% compared to 2021 and reached around 76.9% of the December 2019 pre-pandemic levels.
- The increasing investments in constructing new greenfield airports and expanding existing airports globally to cater to the anticipated rebound in passenger traffic are expected to majorly drive the demand for smart airport technologies in the future.
