Integration of disruptive technology and increasing automation is the future of the aviation industry. The Global Next-Generation Airport Technology is expected to witness robust growth over the forecast period owing to the factors such as the burgeoning deployment of d intelligent information system in airports for managing operational activities, burgeoning adoption of advanced technology such as artificial intelligence, machine learning along with the expansion of the airport. Besides this, quickly evolving aircraft capability, increasing demand of next generation of aircraft to fuel the usage of advances in electric and autonomous technology and escalating application of autonomy to flight control and the propelling emergence of digitally enabled air traffic management are strongly contributing toward the growth of the market in the forthcoming timeline.
According to MarkNtel Advisors’ research report “Global Next Generation Airport Technology Market Analysis, 2021”, the Global Next Generation Airport Technology market is anticipated to grow at a considerable CAGR during 2021-26. Based on Application, Traffic Management acquired the highest market share in 2020 in order to reduce flight delays, airport congestion and increase air safety and security. However, the air traffic is expected to surge in the coming year due to due to significant rise in the passenger capacity, escalating government initiative to boost tourism sector along with the establishment of new airports and development in commercial aviation are the factors projected to fuel the demand for traffic management in the forthcoming timeline.
“Global Next Generation Airport Technology Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Next Generation Airport Technology providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Exhibited the fasted growing Region
North America is witnessing fastest growth in the Global Next Generation Airport market in 2020. This is due to burgeoning adoption of advance technology such as fingerprint and facial recognition technology, integration of artificial intelligence in airport in baggage-drop terminals to enable accurate reading of the text on labels and introduction of various airport modernization project. US dominated the North America region. The growth is accredited to rise in severe congestion and costly delays, burgeoning application of autonomous parking robots and propelling adoption of innovative solutions for check-in, automated bag drop, biometrics are the factors strongly catalysing the market growth of the Next Generation Airport Technology in the forthcoming period as revealed by the MarkNtel Advisors’ research report “Global Next Generation Airport Technology Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Next Generation Airport Technology include Honeywell International Inc., TAV Technologies, Siemens, Wipro Limited, IBM Corporation, Amadeus IT Group SA, SITA, Cisco System, Inc., Huawei Technologies Co., Ltd., L3harris Security & Detection Systems etc.
Key questions answered in the study