Airport Technologies Market Major Players, Trends, Drivers, Restraint And 2022 Forecasts Report by TBRC

LONDON, Nov. 29, 2019 /PRNewswire/ -- The global airport technologies market was valued at about $11.17 billion in 2018 and is expected to grow to more than $13 billion at an annual growth rate of almost 5% through 2022. Increasing cases of illegal immigration is a key driver of the global airport technologies market airport technologies market (https://www.thebusinessresearchcompany.com/report/airport-technologies-global-market-report) . According to DW News, 9,270 people were arrested between January 2018 and November 2019 for illegal immigration in Germany. To curb illegal immigration, advanced airport technologies are being increasingly used. In this regard, airport technology in the form of facial recognition has led to many arrests for illegal immigration at airports. Similarly, technologies such as Mobile Passport Control (MPC) and radio-frequency identification (RFID) based tracking solutions have been deployed in many airports. The MPC technology uses a mobile app that allows US citizens or visitors from Canada to expedite their entry into the USA. This app has been approved by the U.S. Customs and Border Protection (CBP).

The implementation of automated baggage handling systems is an emerging trend in the airport technologies market. Automated baggage handling systems involve the use of small robotic vehicles that carry baggage from the conveyor belt, through the security system, and finally to the respective aircraft carriers. The use of this technology is expected to reduce the number of bags lost at airports. According to airline information technology company SITA, the total number of lost bags reduced from 46.9 million in 2007 to 24.8 million in 2018. In February 2019, Vanderlande, a logistics company based in the Netherlands, signed an agreement with Airport Authority Hong Kong (AAHK) to improve quality, efficiency and flexibility of autonomous baggage handling at the Hong Kong airport.

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Lack Of Strict Mandate Might Hinder Market Growth For Airport Technologies

Airport technologies enable a hassle free and convenient customer experience at airports. The different types of airport technologies include airport communications, airport management systems and software, digital signage systems, fire-fighting systems, security systems, car parking systems, passenger management systems, baggage management systems, cargo control systems, landing aid, and guidance and lighting systems. Insufficient airport safety regulations in many countries is a major restraint on the airport technologies market. This is mainly due to lack of strict mandate in some countries to further improve the existing airport technologies. In 2018, the Federal Aviation Administration (FAA) audit revealed that India had insufficient safety regulations in airports. The FAA audit concluded that insufficient airport safety regulations and a decline in safety ranking of the Indian airports can be directly attributed to lack of advancement of airport technologies in the country. Insufficient airport safety regulations continue to be an important restraining factor for the growth of the airport technologies market.

Airport Technologies Market Overview- Regional Analysis, Key Players, Segmentations

North America was the largest region in the global airport technologies market in 2018. This region is expected to remain the largest during the next five years. The airport technologies market in Asia Pacific is forecast to register the highest annual growth rate during 2018-2023. Major players in the airport technologies market are Thales ATM S.A, Honeywell Airport Solutions, Siemens Airports, Raytheon Corp, and Honeywell Airport Systems.

The airport technologies market is segmented by type into airport digital signage systems, car parking systems, airport communications, landing aids, guidance and lighting, passenger, baggage and cargo handling control systems, and airport management software. By application, the market is segmented into domestic airport and international airport.

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