The global airport information system market depicts the presence of a highly competitive landscape, says Transparency Market Research as per a recently published report. Such competitiveness mainly exists due to the presence of numerous companies in the market. The competitive outlook is made of large- as well as small-scale players, thereby depicting a widespread distribution. Most players are focusing on improving their system communication quality and working efficiency. Amadeus IT Group SA, Parcel & Airport Logistics, Siemens Postal, Rockwell Collins, Inc., and Lufthansa Systems GmbH & Co. KG., are key players operating in the global airport information system market. With the number of players increasing in the market, the competition is likely to further intensify.
As per expert analysts from TMR, the global airport information system market had registered revenue valued at US$25,185.0 mn in 2015. This value is expected to rise up to US$46,950.6 mn by 2024. This growth is prophesized to occur at a strong CAGR of 7.2% CAGR during the forecast period from 2016 to 2024. In terms of solution, baggage processing systems holds a dominant position thanks to improving baggage claiming processes.
Rising Demand for Better Airport Facilities Stokes Growth in the Market
The global airport information system market is majorly being driven by increasing number of flights being facilitated all over the globe. This is mainly due to the fact that air travel is improving by the day, thanks to increasing number of people taking fights as medium of transportation. Several airports are gradually getting refurbished in terms of improved interiors and communication equipment. With a rise in air traffic and surging demand for comfortable and quality travel options, the demand for information about air travel is getting enhanced too.
An increasing demand for automatic and self-service processes and rising instances of money spend on improving information spending on airports too is driving the global airport information system market. This is mainly as such systems provide higher operational efficiency and give passengers a digitally rich and enhanced travel experience. Such advantages too are propelling the global airport information system market, by increasing their usage in information systems across domestic and international airports. The aviation industry is expected to further increase the demand for more effective and reliable airport information systems in the future years as passengers become more used to technological nuances and digital devices.
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Costly Systems Could Exist as a Major Market Hindrance
However, in-spite of these factors driving the global airport information systems market, there are other factors hindering the market’s growth too. High prices of advanced airport information systems and their humungous running costs could largely hinder the global airport information systems market in the long run. In addition, costly system maintenance also is majorly restraining the market. Such costly maintenance might discourage authorities to adopt latest technologies.
In this way, large airports might find it difficult to handle numerous passengers on a day-to-day basis annually. Costly maintenance could be difficult for small airports to upkeep running high tech information systems, thus being a major hindrance to the global airport information system market. However, several players are expected to improve both research and developmental activities for developing software solutions in order provide proper solutions through domestic as well as international airports. This could certainly offset most restraints affecting the global airport information system market.
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