Airport Information System Market to Rise up to US$46,950.6 Mn by 2024
Posted: Apr 06, 2019
The global airport information system market depicts the presence of a highly competitive landscape, says Transparency Market Research as per a recently published report. Such competitiveness mainly exists due to the presence of numerous companies in the market. The competitive outlook is made of large- as well as small-scale players, thereby depicting a widespread distribution. Most players are focusing on improving their system communication quality and working efficiency. Amadeus IT Group SA, Parcel & Airport Logistics, Siemens Postal, Rockwell Collins, Inc., and Lufthansa Systems GmbH & Co. KG., are key players operating in the global airport information system market. With the number of players increasing in the market, the competition is likely to further intensify.
As per expert analysts from TMR, the global airport information system market had registered revenue valued at US$25,185.0 mn in 2015. This value is expected to rise up to US$46,950.6 mn by 2024. This growth is prophesized to occur at a strong CAGR of 7.2% CAGR during the forecast period from 2016 to 2024. In terms of solution, baggage processing systems holds a dominant position thanks to improving baggage claiming processes.
Request to View Sample of Report –
The global airport information system market is majorly being driven by increasing number of flights being facilitated all over the globe. This is mainly due to the fact that air travel is improving by the day, thanks to increasing number of people taking fights as medium of transportation. Several airports are gradually getting refurbished in terms of improved interiors and communication equipment. With a rise in air traffic and surging demand for comfortable and quality travel options, the demand for information about air travel is getting enhanced too.
An increasing demand for automatic and self-service processes and rising instances of money spend on improving information spending on airports too is driving the global airport information system market. This is mainly as such systems provide higher operational efficiency and give passengers a digitally rich and enhanced travel experience. Such advantages too are propelling the global airport information system market, by increasing their usage in information systems across domestic and international airports. The aviation industry is expected to further increase the demand for more effective and reliable airport information systems in the future years as passengers become more used to technological nuances and digital devices.
However, in-spite of these factors driving the global airport information systems market, there are other factors hindering the market’s growth too. High prices of advanced airport information systems and their humungous running costs could largely hinder the global airport information systems market in the long run. In addition, costly system maintenance also is majorly restraining the market. Such costly maintenance might discourage authorities to adopt latest technologies. In this way, large airports might find it difficult to handle numerous passengers on a day-to-day basis annually. Costly maintenance could be difficult for small airports to upkeep running high tech information systems, thus being a major hindrance to the global airport information system market. However, several players are expected to improve both research and developmental activities for developing software solutions in order provide proper solutions through domestic as well as international airports. This could certainly offset most restraints affecting the global airport information system market.
Request to View Brochure of Report –
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
90 State Street,
NY - 12207
USA - Canada Toll Free 866-552-3453
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia