PUNE, India, 15 Oct. 2015. The airport information systems market, currently valued at $3.01 billion (USD), is projected to reach $3.96 billion by 2020, growing at a compound annual growth rate (CAGR) of 5.7 percent over the forecast period from 2015 to 2020, according to MarketsandMarkets’ latest report.
Increasing passenger traffic, real-time information sharing, risk management, and other factors are driving the growth of the airport information systems market, analysts say.
“Airport passenger traffic has been on a rise, which is expected to lead to the demand for better airport services. To meet the growing demand of the aviation industry, efficient airport information systems are required at airports. Furthermore, Airport Operation Control Center (AOCC) holds the strategic responsibility of improving core airport processes, which play a major role in the collaborative decision-making process between airports and its stakeholders. Thus, high passenger traffic ratio, coupled with an efficient AOCC, is expected to drive the global airport information systems market,” MarketsandMarkets analysts explain.
"Airport Information Systems Market by Function, Airport Size, Application, Cost, Software, and Region - Global Forecasts to 2020," published by MarketsandMarkets, analyzes the major market drivers, restraints/challenges, and opportunities in the airport information systems market.
The total airport IT expenditure has increased from $4.3 billion in 2010 to $6.8 billion in 2014, fueling the global airport information system market. North America is expected to account for the largest share of 40.8 percent in the global airport information systems market. North America accounts for the largest share, due to the increasing rate of airport expansion and development programs being undertaken in the past decade. Countries, such as Canada and the U.S., have reported a significant passenger footfall. North America is followed by Europe and Asia-Pacific. In 2013, the aviation industry in China increased its total IT expenditure to 5.8 percent of the revenues generated from airports, which is averaged at 5.4 percent, globally. This led to a slightly faster growth of the airport information system market in China.
Some major players in the airport information systems market include SITA (Geneva), Amadeus IT Group SA (Spain), Rockwell Collins Inc. (U.S.), INFORM GmbH (Germany), and Siemens AG (Germany). Other competitors of this market are IBM Corp (U.S.), Ultra Electronics Holdings (U.K.), Northrop Grumman Corporation (U.S.), and IKUSI (Spain).
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