iCrowdNewswire Jan 6, 2021 4:00 AM ET
Market Research Future published a research report on “Intelligent Airways Transportation Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
According to Market Research Future (MRFR), the global intelligent airways transportation system market is estimated to grow to USD 21.5 billion at an estimated CAGR of 11.5% from 2016 to 2022 (forecast period). The report provides a summary of the market opportunities and market implications that emerged as a result of the COVID-19 pandemic.
The intelligent airway transport system enables the use of information technology to manage the services provided by airways. The airways rely on the radio network and the GPS system to efficiently implement the intelligent transport system. The intelligent airways transport system is primarily powered by its ability to provide high passenger safety and high customer service.
The Intelligent Airways Transportation Market will increase with the rise in the adoption of the Internet of Things in the airways system. Increased developments in internet services are also leading to the development of the market for intelligent airway transport systems. Increased use of airways across all means of transportation has resulted in efficient and timely management of services, such as the passenger empowerment system/solution. This solution can deliver a new level of customer service experience and reduces concerns in the airport terminal. Artificial intelligence and data science were used to initiate the following process in order to achieve measurable benefits for the proper functioning of airports and airlines. The systems’ ability helps to control air traffic between destinations and even near airports, thereby contributing to the growth of the Intelligent Airways Transportation market. Whereas, the growing need for the adoption of an intelligent airway transport system also helps to improve customer experience and security by making travel more personal and seamless by offering end-to-end service.
Factors such as availability and congestion, high gradation costs, and resource outages are some limitations for the growth of this sector. In contrast, increasing disposable income among individuals and rising demand for various technological solutions among airlines in need of cross-domain applications can open up some opportunities for Intelligent Airways Transportation market growth.
The key participants in the Intelligent Airways Transportation System market are – Amadeus IT Holding S.A. (Spain), NEC Corporation (Japan), CISCO Systems Inc.(U.S.), Indra Sistemas S.A. (Spain), International Business Machines Corporation (IBM) (U.S.), Rockwell Collins Inc.(U.S.), Siemens AG (Germany), Unisys Corporation (U.S.), Honeywell Corporation Inc. (U.S.) SITA (Switzerland) among others.
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The global market for intelligent airways transportation system has been segmented based on component, deployment, and technology.
Based on components, the global market for intelligent airways transportation system has been segmented into hardware and software. The hardware segment is further divided into sensor, display units, closed circuit cameras, networking devices, and others. The software segment includes the backend integration various device.
Based on deployment, the global market for intelligent airways transportation system has been segmented into on cloud and on-premises.
Based on technology, the global market for intelligent airways transportation system has been segmented into passenger empowerment, smarter baggage solutions, data science, biometric-enabled self-service, robotics, and artificial intelligence, and others.
By region, the global market for intelligent airways transportation system has been segmented into North America, Europe, the Asia Pacific, and the Middle East & Africa.
North America is expected to boost the market as a result of intensive research and development in airline-related smart technology, high penetration of the Internet of Things, and the growth of a range of IoT and cloud-related technologies in the region. The North American region is projected to have the largest market share with the presence of early-stage technology adopters in the region. The region also has the involvement of technologically advanced countries such as the U.S. and Canada that facilitate the development of the market for intelligent airway transport system.
Europe has benefited most from the government’s comprehensive airport automation initiatives.
The Asia Pacific market is projected to see the highest growth due to a steady increase in the number of operating airports, growing demand for airport information systems, growing acceptance of advanced airport technologies, and an improved baggage handling system.
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