Intelligent Airways Transportation Market
The global intelligent airways transportation system market 2020 was worth USD 11.18 Billion in 2016 and can reach a valuation of USD 21.5 Billion by 2022, believes Market Research Future (MRFR). The IATS market also holds the potential to acquire a decent growth rate of 11.5% from 2016 to 2022 (forecast period).
Growth Boosters and Main Barriers
The intelligent airways transportation system market forecast by MRFR reveals the top growth boosters to be the rising demand for IATS owing to its ability to offer high security as well as high service quality to passengers. The high popularity airways transport out of all the modes of transportation calls for high efficiency and timely management of services, including passenger empowerment system/ solution. IATS helps provide an enhanced level of customer experience by removing the scope of anxiety generally prevalent in airport terminals.
Frequent technological advancements are leading to the rapid upgradation of airport equipment that helps facilitate efficiency as well as the safety of the airways. The system makes extensive use of information technology for managing all kinds of airway services. Surging adoption of the latest technologies combined with the fast-paced development in artificial intelligence technology can be of significant help to air traffic organizations, by taking care of the crucial elements of airways transportation systems. With that said, the high cost of upgradation coupled with the lack of resources can slow down the ongoing growth rate of the intelligent airways transportation system market in the coming years.
On the bright side, the soaring need for real-time information that can only be offered by intelligent airways transportation systems can work in favor of the market. The trend of internet of things (IoT) and the accelerated demand for enhanced security and service quality during air travel can lead to tremendous growth of the intelligent airways transportation system market in the following years.
Market Drivers & Trends
With the emerging information technology, the intelligent airways transport system is maintaining the services provided by the airways, which is one of the main factors behind the market’s evolution. The study also encloses that the market of the intelligent airways transport system is also on its expansion phase due to its ability to offer high security for the passengers and top service quality to the customers.
At the same time, the market is also witnessing steep growth due to factors such as a rise in the adoption of the internet of things in the airways system. The mounting trends of internet services are highly contributing to the growth of intelligent airways transportation system market. As the use of airways transport among all modes of transportation has risen, thus it created effective and timely management of services and passenger empowerment system that has urged the demand for intelligent airways transport system. Such factors are highly responsible for the boost of the market which is anticipated to continue during the assessment period.
On the other side, the ability of these systems to help in regulating the air traffic between the destinations and also near airports are, therefore, to influence the growth of intelligent airways transportation system market. With this, the rising need for the adoption of the intelligent transportation system in airways that helps to enhance the customer experience and security by making the travel personalized and smoother has also been added factors to the growth of the market globally.
On the flip side, the factors of capacity and congestion, high costs of up-gradation and resource outages might become the constraints for the growth of the global intelligent airways transportation system market. Simultaneously, the factor such as the rising disposable income of individuals and growing demand of various technological solutions in airlines in need of cross-domain applications can come up some valuable opportunities for the growth of the market that can lead the market valuation more than the previous during the assessment period.
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Intelligent Airways Transportation MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Intelligent Airways Transportation Market.
The growth sectors of the Intelligent Airways Transportation Market are identified with precision for a better growth perspective.Rapid technological advancement is resulting in continuous upgrading of airport equipment to facilitate safety and efficiency of the airways.
Market Research Future (MRFR) has published a report asserting that the global intelligent airways transportation system market is marked to expand remarkably at a CAGR of 11.5% during the forecast period of 2016-2022 and reach the valuation of USD 21.5 Bn by the end of 2022 from USD 11.18 Bn in 2016.Market Drivers and Restraints:Increasing adoption of advanced technology and rapid development in artificial intelligence technology are majorly aiding in air traffic organization by maintaining the critical elements of airways transportation systems.
Increasing aircraft fleets and air traffic are inducing high demand for advanced management solutions that provide real-time data, which in turn is propelling the growth of the global intelligent airways transportation system market.Implementation of intelligent airways transportation system to enhance customer experience and security by making the travel more personalized and for timely managing of services are propelling the growth of the global intelligent airways transportation system market.
The features of intelligent airways transportation system that aid in simplifying the complexities regarding the working of airports and airways are inducing demand for advanced solutions, resulting in the expansion of the global intelligent airways transportation system market.
However, high cost of upgrades and lack of resources are some of the primary factors that are likely to restrain the growth of the global intelligent airways transportation system market during the forecast period.Market Segmentation:The global intelligent airways transportation system market has been segmented on the basis of component, deployment and technology.
The market will also grow with the increase in the adoption of internet of things in the airways system.
The increasing use of airways transport among all modes of transportation has created an effective and timely management of services among others such as passenger empowerment system/ solution.
This solution has a potential to offer a new level of customer service experience and also supports to remove the anxiety in the airport terminal.Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/2158To initiate the following process artificial intelligence and data science are utilized to get the tangible benefits for proper working of airports and airlines.
The ability of the systems helps to regulate the air traffic between the destinations and also near airports which therefore help in the growth of intelligent airways transportation market.
Raising need of real time information by these intelligent technology is one of the major factor in airports for smooth flow of communication.The global Intelligent Airways Transportation System Market is expected to grow from US ~$11.18 Billion in 2016 to US~$ 21.5 Billion by 2022, at an estimated CAGR of 11.5%.
Whereas, increasing disposable income among individuals and growing demand of various technological solutions among airlines in the need of cross domain applications can open up some opportunities for the growth of the market.Industry NewsJuly 2018, Brisbane Airport extends partnership with SITA.Brisbane Airport, which is the third busiest airport in Australia has selected SITA as a technology partner.
Intelligent Airways Transportation System MarketThe intelligent airways transportation system market growth is primarily fueled by its ability to provide high security for the passengers as well as the high service quality to the customers.
The market will also experience further lavish growth pattern owing to the growing adoption of internet of things in the airways system.
On that note, the increasingly popular trends of internet services will be contributing heavily to the development of the global intelligent airways transportation system market.The growing use of airways transport out of all the modes of transportation is creating an effective as well as timely management of services, for instance passenger empowerment system/solution.
Furthermore, this solution holds immense potential when it comes to offer a new level of customer service experience and also supports to remove the anxiety in the airport terminal.The demand for intelligent transportation system in airways is increasing, owing to the need for better customer experience as well as their security, thereby making the travel personalized and smoother with the offering of end to end service.
Also, the growing requirement of real time information by these intelligent technologies is one of the prominent factors responsible for smooth flow of communication in airports.
In summary, the combination of all these factors will most likely create numerous growth opportunities for the intelligent airways transportation system market in the coming years.Market SegmentationThe market for intelligent airways transportation system is segmented on the basis of component, deployment and technology.Component-wise, the intelligent airways transportation system market is considered for hardware and software.
The new research report titled "Intelligent Transportation System Market, Global Industry Analysis, and Forecast to 2027" gives a detailed analysis and future forecasts of the market.
The report highlights the significant players, including market size, share, and demand, development.
This report further covers the latest trends, technological advancements, and growth opportunities.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the intelligent transportation system market include Affiliated Computer Services, Inc., Denso Corporation, Agero, Inc., Addco Llc, Lanner Electronics, Inc., Nuance Communications, Inc., Ricardo Plc, Sensys Networks, Inc., Telenav, Inc., Efkon AG and Thales Group.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers& acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Intelligent Transportation System Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/intelligent-transportation-system-market/download-sampleMarket DynamicsThe increasing number of mega cities, the population growth and recent government initiatives on transport and traffic management, are the important driving factor for the market growth.
The intelligent transportation system market is expected to accelerate growth over the forecast timeline due to an increase in the adoption of smart transport systems by people to reduce traffic jamming problems and favorable government initiatives on smart transport infrastructure.
