Smart Airport Construction Market Outlook - 2027
Many industries have started using new technologies, such as artificial intelligence (AI) and machine learning (Ml), for their operation. They look for smart operations and are inclined toward robotics and Internet of Things (IoT) operated systems. Smart homes, smart cities, and smart airports are some of the examples of technological advancements. Smart airport system is one of the most advanced systems that provide many advantages and also the convenience to passengers as well as the airport management team. Moreover, human interference can be reduced to a large extent by using smart airport systems.
COVID-19 scenario analysis:
- COVID-19 pandemic has forced many companies in the smart airport construction market to halt their business operations to comply with new government regulations to curb the spread of COVID-19. This pause in operations directly impacts the revenue flow of the smart airport construction market.
- The building construction and maintenance industry is at a standstill due to the lockdown imposed by governments around the world to reduce exponential spread of the deadly virus.
- There is halt in production of construction materials as well shortage of raw materials. In addition, no new consignments are being received by companies operating in this sector. Therefore, some companies that are permitted to resume their operations are unable to resume, owing to the unavailability of raw materials.
- Many governments around the world have permitted to begin construction activities; however, employers have to follow certain measures to provide a safe and healthy workplace.
- Halt in construction activities and lockdowns for several months have affected the smart airport construction market across the world, and slow recovery is expected during 2020-2027.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The number of travelers on airport is increasing rapidly and for effective management at the airport, many airports in different countries across the globe have started implementing the smart airport system to ease various activities that take place at the airport. Various operations are involved in smart airport systems such as system integrating smart phones, managing customer traffic, and convenient baggage solution. For convenience of travelers, these airports have enabled services, such as easy boarding facility and quick check-in, to help travelers save their money and time.
Large amount of electricity is required at places, such as airport, which increases pollution and carbon footprints. Therefore, by implementing intelligent technologies, renewable energy sources can be used to avoid pollution and sustainability goals can be achieved. Hence, smart airport is an important advancement which provides many advantages.
Smart airports make use of artificial intelligence (AI) for various purposes. The artificial intelligence system is incorporated to give automated answers to customer queries, eliminating the need of human employees. Various other activities, such as real-time pricing and predictive aircraft maintenance, are performed by the artificial intelligence system at smart airports. Along with the artificial intelligence (AI) system, smart airport also uses Internet of Things (IoT) system. With the use of technologies, such as AI and IoT, effective security management can be done at the airport. In addition, robots have been used to carry the luggage of passengers to provide them hassle-free experience of traveling. Therefore, these processes have become more smooth & efficient and with the help of new technologies, the smart airport system is further progressing.
Furthermore, the smart airport system offers convenience and ease for passengers in terms of services such as check in, boarding pass, and security. This could be the key driving factor for the growth of the smart airport market.
Partnerships in the smart airport construction market
Smart airports are constructed in such a way that different types of new technologies, such as AI and IoT, have been implemented at the airport. For example, in November 2019, Liege Airport and Alibaba Group signed a contract. Alibaba Group provides service of its artificial intelligence (AI) program, Aviation Brain. This system helps to tackle the real-time operations at airports.
Key restraining factors for the growth of the smart airport construction market
In smart airport systems, different technologies have been implemented. The implementation of these technologies incurs high cost. Therefore, this could be the key driving factor for the growth of the smart airport construction market.
Key benefits of the report:
- This study presents the analytical depiction of the smart airport construction market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the smart airport construction market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed smart airport market analysis based on competitive intensity and how the competition will take shape in coming years.
Smart Airport Construction Market Report Highlights
Key Market Players
SITA, Rockwell Collins, T-Systems International GmbH, IBM Corporation, Honeywell International Inc, GMR Group, Amadeus IT Group SA, GVK Industries, Cisco Systems, Siemens AG