Artificial Intelligence
Intelligent Airways Transportation Global Market Report 2023
New York, Aug. 02, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Intelligent Airways Transportation Global Market Report 2023” – https://www.reportlinker.com/p06479909/?utm_source=GNW
, Société International de Télécommunications Aéronautiques, Unisys Corporation, Honeywell Corporation Inc., Zhongxing New Telecommunications Equipment Co. Ltd., Microsoft Corporation, and Oracle Corporation.
The global intelligent airways transportation market is expected to grow from $16.74 billion in 2022 to $18.27 billion in 2023 at a compound annual growth rate (CAGR) of 9.16%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The intelligent airways transportation market is expected to reach $25.15 billion in 2027 at a CAGR of 8.31%.
The intelligent airways transportation market consists of revenues earned by entities by providing services for automated check-in and baggage handling, biometric identification systems, smart boarding gates, real-time tracking of flights and baggage, predictive maintenance of aircraft, and data analytics.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.Intelligent airways transportation also includes sales of biometric identification systems, smart boarding gates, baggage tracking devices, aircraft health monitoring systems, and in-flight entertainment systems.
Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Intelligent airways transportation (IAT) is the use of advanced technologies and systems to improve various aspects of air transportation, including passenger experience, safety, efficiency, and sustainability.
North America was the largest region in the intelligent airways transportation market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the intelligent airways transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of intelligent airways transportation are hardware and software.Hardware refers to the physical components that are used to implement and operate the intelligent airways transport system, including sensors, cameras, communication devices, controllers, and other electronic devices.
It is used for collecting data, processing information, and communicating with other components in the system. The technologies of intelligent airways transportation include robotic and artificial intelligence, data science, and biometric enables self-services that are deployed on on-cloud and on-premises used by passenger empowerment, smarter baggage solutions, biometric-enabled self-service and others.
The increasing use of airways transport among all modes of transportation is expected to propel the growth of the intelligent airways transportation market going forward.The increasing use of airways refers to more people choosing air travel as their preferred mode of transportation for both passenger and freight transportation purposes.
Intelligent airways transportation provides improved safety, improved efficiency, enhanced customer experience, and saving costs. For instance, in April 2023, according to the International Air Transport Association, a Canada-based trade association of airlines across the globe, in February 2022, the total air traffic has risen 55.5% as compared to 2021. In addition, in 2022, international traffic and domestic traffic rose by 89.7% and 25.2% respectively as compared to 2021. Therefore, increasing the use of airways transport among all modes of transportation is driving the growth of the intelligent airways transport market.
Smart technologies are the key trends gaining popularity in the intelligent airways transportation market.Companies operating in the intelligent airways transportation market are adopting and investing in smart technologies to sustain their position in the market.
For instance, in October 2022, Société International de Télécommunications Aéronautiques (SITA), a Switzerland-based information technology services provider company in partnership with Versa Networks launched ITA Connect Go technology.The technology is a multi-tenant edge secure software-defined wide area network (SD-WAN) solution specifically designed for the air transport industry.
This technology is a multi-cloud technology that provides virtualized infrastructure and cloud access at airports to ground handlers, several airlines, and other tenants.
In November 2021, Collins Aerospace, a US-based defense and aerospace products manufacturer acquired FlightAware for an undisclosed amount.This acquisition broadens, diversifies, and enriches Collin’s connected ecosystem solution capabilities by adding digital flight-tracking solutions, analytics, decision-making tools, and predictive technology.
FlightAware is a US-based technology company, a leading provider of real-time and historical flight information and insights to the global aviation community.
The countries covered in the intelligent airways transportation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The intelligent airways transportation software market research report is one of a series of new reports that provides intelligent airways transportation software market statistics, including intelligent airways transportation software industry global market size, regional shares, competitors with an intelligent airways transportation software market share, detailed intelligent airways transportation software market segments, market trends and opportunities, and any further data you may need to thrive in the intelligent airways transportation software industry. This intelligent airways transportation software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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