Artificial Intelligence
Global Smart Airport Market Worth US$ 54,862.0 Million by 2027 – Exclusive Report by Astute Analytica
New Delhi, June 01, 2022 (GLOBE NEWSWIRE) — According to the study published by Astute Analytica, the Global Smart Airport Market is estimated to witness a major rise in its revenue from US$ 29,463.1 Mn in 2021 to US$ 54,862.0 Mn by 2027. The market is registering a CAGR of 10.9% during the forecast period.
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Smart airports use advanced technologies such as cyber security, intelligent building management, Internet of Things (IoT), GPS and sensor, Artificial Intelligence (AI), and blockchain among others to improve airport processing and information efficiency. For instance, in 2019, the U.S. Transportation Security Administration used AI to help target threats, at Los Angeles International Airport, John F. Kennedy, and Phoenix airports.
Drivers:
The growing impetus of the market is attributed to factors such as growth of air-travel and tourism industry, increase in passenger and cargo traffic, rising rate in development of smart cities, increasing investment in the development/ augmentation of airports, and technological advancements leading to process optimization. The growth of air travel and tourism industry has been one of the most prominent socio-economic phenomena of the post-financial crisis (in 2008) years. Further, the current issues faced by commercial airports are managing large cargo capacity with conventional technological systems, and aging aircraft fleets which are delaying the deliveries and are limiting the quality of the services. In response to aging aircraft fleets, technological obsolescence, and volatility in fuel prices, the demand for smart airports has increased for both commercial and leisure purposes.
Presently, 4.5 billion passengers are carried by scheduled international airlines and this figure is estimated to double before the end of 2030. Moreover, the tourism sector in many countries of the world is profoundly shaped by the continual development of air services. Further, the advances in aircraft technology, enhancements in information and communications technology (ICT), and marketing strategies have improved the quality of air travel, which has doubled the number of tourist arrivals in the world, thereby propelling the market growth. Most smart airports are utilizing smart city services to enable intelligent administrations to design and install smart parking, smart retail, and smart workplace services, allowing efficient management effortlessly.
Restraints:
Rising usage of smart services exposes a broad range of vulnerabilities that can be manipulated by cybercriminals and other malicious activities, this is posing major threat to the growth of the market. In 2019, the World Economic Forum (WEF) estimated that cyber-attacks are the top five risks to global stability and security. In addition, as per Identity Theft Resource Centers data, the number of data breaches observed in 2018 is around 1,257 and it increased to almost 1,473 in 2019. Thus, the presence of various security concerns associated with smart airport systems is the prime factor hindering the growth of the smart airport market.
Segmental Analysis
The various segments considered to analyze the global smart airport market are based on infrastructure, application, solutions, services, airport model, airport size, airport operation, and region. Based on infrastructure; passenger, cargo, and baggage ground handling control segment hold the highest market share in 2021. In terms of solutions, terminal side dominates the smart airports market in 2021. Further, based on application, the business applications hold the highest market share in 2021 and are further registering the highest CAGR over the forecast period. In addition, based on services, smart transport and parking services leads the market in 2021. Moreover, in terms of airport operation, commercial service airports hold the highest market share in 2021. North America dominates the global smart airports market in 2021.
Global Smart Airport Market by Region
North America is the highest shareholder region with a share of 35.3% in the global smart airport market in 2021. This is due to the large-scale investments made by governments for optimizing operations at the airport coupled with the implementation of IoT, AI, and Big Data in airport operations which has the feasibility to improve visibility and optimize business process. Moreover, the rising preference for improving personalized experience, and higher concentration of the market players is expected to propel the market growth over the forecast period. Further, Asia-Pacific is estimated to grow at the highest CAGR of 14% during the forecast period, with a market share of 25% in the global smart airport market in the year 2021. Rising disposable income and growing tourism industry in the Asia Pacific countries is driving market growth.
Impact of COVID-19 on the Global Smart Airport Market
The covid-19 pandemic adversely affected the whole tourism industry. As per the ICAO, total number of domestic and international flights for the passenger and cargo transport accounted for 432,502 in March 2020, which is a decline from 693,961 in March 2019. After the exponential increase in COVID-19 cases across the world, an immediate and complete ban was imposed on all domestic and international flights to avoid any further spread of infection, this restricted the market growth. In addition to this, the visa on arrival was also canceled by various countries of Asia-Pacific. However, as the world is getting back to normal, the number of passengers traveling is also rising, which in turn is expected to fuel the market growth during the post COVID times.
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| Report Attribute | Details |
| Market Size Value in 2021 | US$ 29,463.1 Million |
| Market Outlook for 2027 | US$ 54,862.0 Million |
| Expected CAGR Growth | 10.9% |
| Base Year | 2021 |
| Forecast Period | 2022-2027 |
| Top Market Players | Amadeus IT Group SA, Siemens, T-systems, Thales Group, SITA, Honeywell, Collin Aerospace including Raytheon, SABRE, IBM, and Cisco, among others |
| Segments Covered | By Component, By Infrastructure, By Solutions, By Application, By Services, By Airport Model, By Airport Size, By Airport Operation, By Region |
| Geographies Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Customization Options | Get your customized report as per your preference. Ask for customization |
Competitors Market – Global Smart Airport Market
The key players in the global smart airport market are Amadeus IT Group SA, Siemens, T-systems, Thales Group, SITA, Honeywell, Collin Aerospace including Raytheon, SABRE, IBM, and Cisco, among others. The cumulative market share of the ten major players is close to 72.2%, hence there is high competition in the market. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on the stabilized market scenarios. Furthermore, leading companies are investing in technologies such as mixed reality, Internet of Things (IoT), artificial intelligence, and others to introduce advanced solutions and systems for airports to manage operations.
Segmentation Overview
By Infrastructure segment of the Global Smart Airport Market is sub-segmented into:
- Endpoint Devices
- Sensors
- Tags
- IP Phone
- Video Conferencing (Audio/ Video)
- Communication Systems
- Wireless Airports
- Smart Phones
- Near Field Communication
- Social Media
- Passenger, Cargo, and Baggage Ground Handling Control
- IoT Enabled Beacons
- Robots for Passenger and Baggage Movement
- Common-use Self-service (CUSS) Kiosks
- RFID Baggage Reconciliation System
- E-Gates
- Air/Ground Traffic Control
- Smart Systems & Scalable Air Traffic Management Solutions (ATM)
- Automated Passport Controls
- Security Systems
- Biometrics
- Alerts & Cyber Security
- E-Fence & Ground Surveillance Radar
- E-Tag System
- Others (Navigational, Landing Aids, Digital Signage, Airport Management Software)
By Solutions segment of the Global Smart Airport Market is sub-segmented into:
- Terminal Side
- HVAC
- Lighting Control
- Digital Video Surveillance and Management (DVM)
- Fire and Life Safety Solutions
- Energy Management
- Life Cycle Services
- Building Management and Automation Systems
- Air Side
- Advanced Visual Docking Guidance System (A-VDGS)
- Airfield Ground Lighting (AGL)
- Surface Movement Guidance
- Runway Improvement and Apron Management
- Digital and Radar Video Surveillance
- Landside
- Parking
- Access Roads
- Perimeter Security
- Car Rental
- Mass Transit
- Airport City
By Application segment of the Global Smart Airport Market is sub-segmented into:
- Core Applications
- Content Management
- Business Intelligence
- Next-Generation Web
- Collaboration
- Integration
- Business Applications
- Noise Abatement
- Fee Management
- Performance Management
- Gate Management
By Services segment of the Global Smart Airport Market is sub-segmented into:
- Smart Transport & Parking Services
- Real-time Travel Services
- Intelligent Transport Services
- Trip Concierge
- Smart Retail, Hospitality & Entertainment Services
- Passenger-Specific Retail and Hospitality
- Intelligent Advertising
- Lean Retail Solutions
- Telepresence Rooms
- Smart Workplace Services
- Equipment Telematics Solutions
- Mobile Worker and Expert Locator
- Smart Airport Processes
- Location-Based Services
- RFID Baggage Tagging
- No-queue Check-in Solutions
- Smart Business to Business Services
- Traffic and Facilities Management
- Smart Supply-Chain and MRO Services
By Airport Model segment of the Global Smart Airport Market is sub-segmented into:
- Airport 2.0
- Airport 3.0
- Airport 4.0
By Airport Size segment of the Global Smart Airport Market is sub-segmented into:
- Small
- Medium
- Large
By Airport Operation segment of the Global Smart Airport Market is sub-segmented into:
- Commercial Service Airports
- Cargo Service Airports
- General Aviation Airports
By Region segment of the Global Smart Airport Market is sub-segmented into:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The UK
- Germany
- France
- Italy
- Spain
- Poland
- Russia
- Rest of Europe
- Asia Pacific
- China
- Taiwan
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
To gain more insights into the market with a detailed table of content and figures, click here: https://www.astuteanalytica.com/industry-report/smart-airport-market
About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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Artificial Intelligence
Aero Design Labs receives U.S. and EASA approval for updated Boeing 737-800 drag reduction kit
FORT WORTH, Texas, Sept. 30, 2024 /PRNewswire/ — Aero Design Labs (ADL) today announced it has received a Supplementary Type Certificate (STC) from the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA) approval for its enhanced Boeing 737-800 drag reduction kit 2.0.
“We are delighted to introduce our next generation of the drag reduction kit, which we are referring to as ‘ADL Kit 2.0′,” said Jeff Martin, ADL President and CEO. “The ADL team has once again demonstrated its expertise and commitment to aviation carbon reduction through its continued improvement process. ADL’s next generation Kit 2.0 is an evolution from our original designs, meeting the stringent requirements based on valuable feedback from our launch partners. With our new EASA approval, we can now offer our carbon reduction kits to new EU airline customers.”
The ADL Kit 2.0 captures new benefits, and significantly reduces the installation time, delivering reduced out-of-service time for the conversion while generating meaningful fuel savings and reduced carbon emissions across the popular Boeing 737-800 variant. Based on feedback from airline partners, it is anticipated that a kit can be installed overnight, minimizing critical out-of-service time for the airlines.
“Having served as an airline operational executive, I understand the need for airlines to reduce their carbon footprint, save fuel and minimize aircraft out-of-service time for the modification,” said David Campbell, ADL Chief Operating Officer. “ADL Kit 2.0 offers better economics and a shorter payback period, assisting airlines with fuel savings and carbon reduction including their IATA CORSIA carbon reduction pledges.”
“On behalf of the team at ADL, we thank ALOFT AeroArchitects, NORDAM, AAR Corp, and the many airline partners who have assisted us on this journey”, concluded Jeff Martin. “Their feedback and contributions to our engineering efforts and joint commitments to reducing aviation carbon emissions are invaluable.”
About Aero Design Labs L.L.C.
Founded in 2015, Aero Design Labs (ADL) leads the way in the research, development and installation of drag reduction systems for airline fleets globally. ADL modifications to airlines’ existing fleets can result in fuel savings, extend fleet longevity and the potential for billions of pounds of CO2 to be prevented from entering the atmosphere.
Media inquiries: Richard Bartrem [email protected]
Sales inquiries: David Campbell [email protected]
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View original content:https://www.prnewswire.com/news-releases/aero-design-labs-receives-us-and-easa-approval-for-updated-boeing-737-800-drag-reduction-kit-302262953.html
Affordable AI-Powered Legal Solutions
HONG KONG, Sept. 30, 2024 /PRNewswire/ — DocPro Limited, a leading innovator in legal technology, has launched DocLegal.ai, a new platform designed to provide AI-powered legal assistance at an unbeatable price—less than the price of your daily coffee.
DocLegal.ai is a platform that consolidates legal document creation, editing, and review into a single interface. The platform offers the following features:
Custom Document Creation: Users can describe their scenario and receive a tailored legal document.Document Review and Editing: The AI assistant can edit, review, summarize documents, suggest clauses, and highlight potential risks.The platform is designed to provide affordable legal services to small businesses and individuals. It also aims to streamline workflows and automate routine tasks for legal professionals, enabling them to focus on high-value activities.
DocPro Limited has leveraged its experience with DocPro.com, which serves over 50,000 users globally, to develop DocLegal.ai. The company is a graduate of the Cyberport Incubation Program and is currently part of the HKSTP Incubation Program and Google for Startups Cloud Program.
As part of its soft launch, DocLegal.ai is offering exclusive access to the first 500 users for only $2.50 per document. Interested parties can Visit the DocLegal.ai website to sign up.
About DocPro Limited
Founded in 2020, DocPro Limited is a leader in the legal tech space, committed to enhancing the delivery of legal services through innovative AI-powered solutions. With platforms like DocPro.com and DocLegal.ai, DocPro empowers users to create and manage legal documents with unparalleled efficiency and precision. For more information, visit DocLegal.ai.
DocLegal.ai is poised to become an indispensable tool for anyone seeking reliable, efficient, and affordable legal documentation, reinforcing DocPro’s position as a pioneer in legal technology.
Media Enquiries:
Kim [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/docpro-limited-announces-the-launch-of-doclegalai-302260129.html
Artificial Intelligence
Amagi and Phenix Partner to Bring Next-Gen Low Latency and Seamless Ad Insertion for the Ultimate Viewer Experience
Bitmovin Complements the Partnership With Its New Player Web X, Guaranteeing Seamless, Crystal-Clear Video Playback
NEW YORK, Sept. 30, 2024 /PRNewswire/ — Amagi, a global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced a partnership with Phenix Real Time Solutions to deliver next-generation FAST (free ad-supported streaming TV) and live events with the lowest latency available in the streaming marketplace. Amagi and Phenix will provide a complete turnkey solution for content owners to achieve real-time streaming with subsecond latency and server-side ad insertion (SSAI). By combining automation, scheduling, real-time streaming, and ad monetization, streaming customers can now deliver a “see it here first” experience, eliminate spoilers from social media, and provide a best-in-class viewing experience for their audiences.
Bitmovin adds a unique element to the mix by ensuring effortless, smooth playback on any browser, regardless of the device. Bitmovin’s open-source plugin system makes integration easy and provides the tools to maintain high-quality playback. The latest update also includes compatibility with Phenix Real-Time SSAI, combining flawless playback with real-time ad insertion.
The direct integration with Phenix now enables Amagi to output content from its Amagi CLOUDPORT automated scheduling and playout system into Phenix’s globally distributed real-time streaming network of over 34 points of presence for real-time delivery to viewers with subsecond latency. Further integration between Amagi’s Ad Tech platform and Phenix’s real-time SSAI capabilities facilitates dynamic and personalized ads while maintaining real-time playback and full compatibility with Bitmovin.
Bill Wishon, Phenix’s Chief Product Officer, stated, “Amagi has established itself as the foremost authority on FAST channel delivery. As a cloud-first company, Amagi has built itself into a pioneer in cloud technology for broadcasting and OTT. We are thrilled to join forces with them in delivering these innovative solutions.”
“Working with Phenix, the leader in real-time, scalable streaming delivery, allows Amagi to offer clients a full solution, including the industry’s first server-side ad insertion in real time. We can’t wait to see how customers deploy these workflows for next-generation OTT streaming,” said Richard Perkett, Chief Product Officer at Amagi.
Amagi provides a complete suite of channel creation, distribution, and monetization solutions. The company’s clients include some of the world’s biggest names, including A+E Networks UK, ABS-CBN, Astro, Cox Media Group, DAZN, Globo, Lionsgate Studio, NBCUniversal, Tastemade, and VIZIO.
Representatives from all the companies will be attending Amagi’s LA FAST 2024 conference on Oct. 1. More information is available at www.amagi.com/events/la-fast.
About Amagi
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 5,000+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, Toronto, Mexico City, London, Paris, Sydney, Seoul, and Singapore, broadcast operations in New Delhi, and innovation centers in Bengaluru, Zagreb, and Łódź.
About Phenix
As the leader in delivering interactive video at scale, Phenix powers innovative digital experiences that drive acquisition, engagement and retention for some of the world’s biggest brands. Its patented technology is essential for delivering content in real-time that engages audiences with interactive experiences and generates revenue for sportsbooks, sports and gaming properties as well as broadcasters with real-time video streaming to global audiences at broadcast scale. Trusted with streaming video for world-class events like The Oscars, Cheltenham Festival and the Super Bowl, Phenix brings proven experience delivering video to mass audiences for the world’s largest events.
Phenix is headquartered in Chicago, Illinois, with offices in California and Europe. More information is available on the Phenix website or follow them on Twitter and LinkedIn.
About Bitmovin
Bitmovin is the leading provider of video infrastructure for global digital media companies and service providers. The company has been at the forefront of industry innovation and all major developments in the digital video streaming industry.
Bitmovin built the world’s first commercial adaptive streaming player and deployed the first software-defined encoding service that runs on any cloud platform. Its cloud-native technology offers the most flexible and scalable media encoding, playback, and analytics solutions available with unparalleled device reach, ease of integration, and world-class customer support.
Bitmovin customers benefit from optimized operations, reduced time-to-market, and the best viewer experience possible. Bitmovin is headquartered in Denver, Colorado, and has major offices in Vienna, Klagenfurt, Austria as well as London and Berlin. The company has over 400 customers across the globe, including ClassPass, BBC, fuboTV, Hulu, and Discovery.
More information is available at www.bitmovin.com
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