The Global Airport Operations market is anticipating the market trends owing to enhance customer security and services. The global airport operations market has the potential to grow with USD 17.24 billion with historical CAGR in the forecast period from 2020-2027. Factors driving the market demand for airport operations are the adoption of automation, digitization, and to provide better services to customers are bolstering the market.
Improving the work efficiency of the airport operation manager's organization is also one of the vital optimization areas for airport digital applications. The financial management area can standardize, the time-consuming proportion of repetitive operations, and the high cost of opportunity for enterprise resource consumption due to human errors.
The increasingly mature applications in the industry include the use of multiple technologies in the field of artificial intelligence and data analysis to automate report generation, asset management, reimbursement, and related-party transactions.
Based on more productive and feasible management models for domestic airport operation managers and relatively mature technologies based on the service experience and successful cases for many customers in the aviation and transportation fields. To help airport operations, managers achieve short-term quick wins in the process of digital transformation.
Moreover, with the spread of coronavirus, the effect on airport operations post lockdown will affect the functioning. Therefore, a contact-free real-time dynamic face recognition system can provide accurate identification and prediction models by collecting entities and virtual data, maximizing passenger clearance efficiency, and alerting suspicious persons in time. It helps in saving lots of time and reduces the chances of virus infection.
Furthermore, with the adoption of technology helps in reducing the repetitive work and improve efficiency. Thus, the adoption of natural language processing technology automatically extracts critical clauses in a large number of contracts, which can effectively avoid the inefficiency and error problems caused by manual processing. The specific implementation method is to combine AI deep learning software and text recognition algorithms to automatically extract critical concepts (such as deadline, termination time, or renewal time) and ensure that the vital data and terms of the contract not missed.
Technology overview in the Global Airport Operations Market
Based on technology, the global airport operations market classified into Passenger Screening, Baggage Scanners, Smart Tag & RFID, E-gate & E-Kiosk, 5G infrastructure, Cybersecurity Solutions, and Ground Support Equipment. The ground support equipment will dominate the largest market share in the global airport operations market. It is mainly to provide better service between aircraft and flights. The ground support equipment used to do regular preventive maintenance work on grounds and also transporting various equipment to and from the sites. Therefore, with technology advancement integration of low-emission, electric tugs, fuel-powered tractors will help in enhancing the market for new green airport operations.
Region overview in the Global Airport Operations Market
Based on geography, the global airport operations market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific region is dominating the market share of the global airport operations market. It is mainly owing to the adoption of technology and the emerging prevalence of internet of things, big data and automation are required for making smart airport operations. Moreover, with the outbreak of the virus, the high chances of virus spreading will propel the airport operations managers to take effective measures to ensure the safety and security of the passengers. Thus, automation is adopted in the Asia Pacific region, which is fueling its market share.
Global Airport Operations Market: Competitive Landscape
Companies such as FLIR Systems, Honeywell, SITA, Collins Aerospace, Siemens AG, Fluke Corporation, Thales Group, Daifuku Co., Ltd., Amadeus IT Group, and others are key players in the global airport operations market.