WELLESLEY, MASS. – With more than 7,600 airports worldwide with major requirements for advanced airport technologies, BCC Research estimates the global market for technologies including air traffic management and control, communications, and landing aids, to approach $27.3 billion in 2022. The latest report, is an update of a previous report published in 2014. The updated estimates are significantly higher than the estimates in the previous edition, particularly in the passenger, baggage and cargo handling and control segment and the communications segment given the continuing need to expand airports and provide high-quality services while meeting rising technological, regulatory, security and economic demands.
Global Market for Advanced Airport Technologies, by Type, Through 2022 ($ Millions)
Technology Type
|
2016
|
2017
|
2022
|
CAGR%
2017-2022 |
Communications systems
|
4,500.0
|
4,700.0
|
5,900.0
|
4.7
|
Security, fire protection and emergency services
|
2,087.0
|
2,222.7
|
3,188.2
|
7.5
|
Passenger, baggage and cargo handling and control
|
8,057.4
|
8,441.7
|
10,681.6
|
4.8
|
Air/ground traffic management and control
|
1,715.0
|
1,723.8
|
1,768.6
|
0.5
|
Other technologies*
|
3,969.0
|
4,206.0
|
5,746.0
|
6.4
|
Total
|
20,328.4
|
21,294.2
|
27,284.4
|
5.1
|
*Note: Includes navigational and landing aids, digital signage, airport management software, car parking systems (Source: BCC Research)
According to the new report, BCC Research estimates the global market for advanced airport technologies will reach $21.3 billion in 2017 and approach $27.3 billion in 2022, with a CAGR of 5.1% over the next five years. This includes air/ground traffic control, communications, digital signage, airport management software, security/fire protection/emergency response systems, passenger/baggage/cargo systems and car parking control systems. Given the rapid development of this market and specific technologies, this new report was designed to help suppliers better manage their enterprise and resources effectively and help users select the most cost-effective option among available products and technologies prior to committing significant capital resources.
“Over the next 20 years, airport operators are expected to spend hundreds of billions of dollars on new airport construction, expansion and modernization. Our latest report spans electronic, electro-optical and other modern technologies used in airports around the world, and provides industry leaders a comprehensive view of global markets to drive strategic decision making based on a comparison of individual product segments,” said Andrew McWilliams, analyst, BCC Research.
