Global Smart Airport Construction Market 2017-2021

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Overview of the global smart airport construction market

Market research analysts at Technavio predict that the global smart airport construction market will grow steadily during the next four years and post a CAGR of close to 10% by 2021. This market research analysis identifies the rising numbers of air passengers as one of the primary growth factors for this market. Smart airports help to manage passenger volume in streamline processes, thus creating an ease of comfort for air passengers as these airports integrate various technologies to provide pre-solutions to any potential crisis. Additionally, an important variable that is considered in the growth of traffic volume is the ease of travel as it is one of the key steps taken to improve air traveling experience. Furthermore, initiatives such as service agreements between countries, emerging technologies, liberalized domestic market regulations, airline network improvement, and business model innovations will also lead to an increase in number of air passengers in the coming years, which in turn, will create a strong demand for smart airport constructions.

One of the latest trends that will gain traction in the smart airport construction market in the coming years is the adoption of artificial intelligence and robotics at smart airports. The travel sector, especially the aviation industry, is witnessing an increasing use of artificial intelligence and robotics to assist passengers at airports. Humanoid robots are likely to be the game changer for the aviation sector and it is expected that these humanoid robots will be able to recognize emotions and actively respond to unexpected situations.

Competitive landscape and key vendors

The global smart airport construction market consists of a considerable number of vendors. Vendors in the smart airport construction market need to evolve their technology and execution style to save cost and increase productivity since the coming years will to witness a continuous increase in demand for smart airport construction. Additionally, the developing countries are constructing new airports, whereas developed countries are expanding their current capacity to accommodate the rising number of air passengers. As a result, the level of competition among the market players will intensify in the coming years.

The leading vendors in the market are -

• AECOM
• Bechtel
• CH2M
• Fluor
• TAV Construction

The other prominent vendors in the market include Amadeus IT Group, Balfour Beatty, Cisco, Crossland Construction, Gilbane, GMR Group, GVK Industries, HDR, Hensel Phelps, Honeywell, IBM, Indra, Jacobs, Kiewit, L&T Construction, Lanco Group, NEC Corporation, Siemens, SITA and Tetra Tech.

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Geographical segmentation and analysis of the smart airport construction market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to the smart airport construction market by 2021. In the recent years, the European Union witnessed an increase in the number of air passengers. The air passenger volume is likely to expand further in the coming years. This increase in air passenger volume in Europe region is one of the key drivers for the demand for smart airport construction. Additionally, European countries are popular tourist destinations and are widely preferred by other tourist regions in the world. Similarly, the Middle East is expanding at a robust pace catered by strong developments of the tourism sector and as a result, the demand for smart airports will increase in this region during the forecast period.

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Key questions answered in the report include

• What will the smart airport construction market size and the growth rate be in 2021?
• What are the key factors driving the global smart airport construction market?
• What are the key market trends impacting the growth of the global smart airport construction market?
• What are the challenges to market growth?
• Who are the key vendors in the global smart airport construction market?
• What are the market opportunities and threats faced by the vendors in the global smart airport construction market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global smart airport construction market?

Technavio also offers customization on reports based on specific client requirement.

The prime idea behind the development of a smart airport is to create an integrated system, unified and ready to use digital platform for the airports to become intelligent and informed.  Technavio's reports for the heavy industries industry cover a wide range of product sectors like construction and engineering tools. Further to rendering information on various aspects like the changes in customer choices and the attributes, which will affect the growth of vendors in the construction industry's marketspace, Technavio's reports also reveal a competitive analysis of the dominant vendors in the heavy industries market.

To accurately forecast the construction industry's growth prospects, our team of market research experts conduct a comprehensive research approach of qualitative and quantitative techniques and carry out an extensive analysis of several parameters, including technological innovations and the demand for different products across multiple geographical locations. With an intent to help clients draft new strategies for growth, our upcoming industry research report on the global smart airport construction market offers practical insights construed from the data collected from information sources such as manufacturers, decision makers, channel partners, and regulatory bodies.

This upcoming report on the global smart airport construction market also takes into account the growth of similar markets such as the transportation infrastructure and elevator and escalator market in the US, which are forecasted to grow at a CAGR of almost 3% and close to 4%, respectively, during the period of 2017 to 2021. According to our market research analysts, the increasing number of air passengers globally and the development of smart cities will boost the construction industry's growth for the next few years.

The upcoming industry research report for the global smart airport construction market also identifies the market drivers, trends, and the setbacks faced by the heavy industries market industry and gives insights into test and measurement and unit operations markets.