Wed. Jul 24th, 2024

Airport Automation Market to Reach $7.7 Billion by 2028

A new report by research company MarketsandMarkets predicts that the airport automation market will grow from $5.8 billion in 2023 to $7.7 billion by 2028. The forecast represents a compound annual growth rate (CAGR) of 5.8% during the forecast period. According to the report, the “automation level 3.0” segment will hold the largest market share, and medium-sized airports will make the most of automated technologies.

Key Points:

  • The airport automation market is projected to reach $7.7 billion by 2028.
  • The “automation level 3.0” segment will hold the largest market share.
  • Medium-sized airports will make the most of automated technologies.
  • Automated systems contribute to a smoother and more convenient passenger experience.
  • The increasing emphasis on customer-centric strategies is vital for market growth.

The report highlights that automated systems, such as self-service check-in kiosks, automated security checks, and electronic boarding passes, contribute to shorter wait times and a more seamless journey through the airport. These technologies are expected to enhance efficiency and passenger convenience, driven by the impact of the Covid-19 pandemic on touchless and automated solutions.

The research company also notes that an increasing focus on the passenger experience is driving growth in the industry. The “automation level 3.0” segment, which emphasizes a collaborative approach between humans and machines, is projected to hold the largest market share. Major companies like Daifuku, Collins Aerospace, Siemens, and Amadeus IT Group are actively developing advanced airport automation solutions to automate various operations and enhance the overall growth of the market.

Bassem Elsayed Mostafa, lead market analyst and owner at GlobeMonitor market research agency, asserts that technological advancements, regional demand, and industry efforts to improve passenger experiences and operational efficiency are indications of a strong and dynamic growth trajectory for the airport automation market.

Overall, the airport automation market is expected to experience significant growth in the coming years, driven by the demand for efficiency, passenger convenience, and the adoption of advanced technologies like artificial intelligence and the Internet of Things.