Total airport management market to reach $1.20 billion by 2030
SANTA CLARA, Calif., Feb. 23, 2021 /PRNewswire/ -- Frost & Sullivan's recent analysis, Data Integration to Drive Global Total Airport Management (TAM) Market Growth, 2030, finds that total airport management (TAM) aims to address multiple challenges faced by airports across various operational categories, including passenger processing, airside operations, safety and security, facilities management, and landside operations. TAM supports data-driven decision-making, holistic KPI (key performance indicator) management, and integration of various operations by interlinking processes and systems across the airport. Despite being a niche concept, the TAM market is expected to more than double and reach $1.20 billion by 2030 from $576.4 million in 2020. TAM will be especially attractive to Tier I airports at large metros and international hub airports as they have extremely high passenger and baggage throughput.
Photo - https://mma.prnewswire.com/media/1442894/airport.jpg
For further information on this analysis, please visit: http://frost.ly/59t
"The growing need to increase passenger and baggage throughput coupled with airports constantly working toward offering an enhanced passenger experience makes it imperative for airports to embrace TAM," said Shantanu Gangakhedkar, Aerospace & Defense Consultant at Frost & Sullivan. "TAM enhances airport operations management by integrating processes across the value chain of the airport while increasing the accountability of stakeholders and providing real-time visibility into processes, leading to increased efficiency and effectiveness across the airport.
Gangakhedkar added: "Upgradation activities undertaken by airports, the growing need for safety and security, the rising demand for reduced turnaround time, and airports' desire to offer an enhanced passenger experience to improve aero and non-aero revenues will propel airports' decisions to deploy TAM. The increased use of contactless biometrics, connected infrastructure, Big Data, artificial intelligence (AI), 5G, and automation will be the core technologies to take TAM concept forward."
For further growth opportunities, market participants should leverage the following trends in the digital transformation of airports:
- Acceptance of collaboration platforms: These platforms offer real-time information exchanges and promote collaboration among stakeholders while also reducing silos.
- Penetration of AI and Big Data: These new technologies can predict issues and bottlenecks; delays can be avoided through proactive planning.
- Optimization of Airside Operations: Resource allocation can be optimized by using location-based services and other tracking and monitoring tools, including RFID (radio frequency identification) personal handheld devices.
- Increase in Biometrics Usage: Airports worldwide, especially Tier I airports, are increasingly looking at biometrics deployment to enhance passenger flow and reduce human intervention.
- Focus on Non-aero Revenue: Airports aim to create more avenues to earn higher non-aero revenue while offering a better passenger experience that will lead to augmented spending.
Data Integration to Drive Global Total Airport Management (TAM) Market Growth, 2030 is part of Frost & Sullivan's Global Aerospace & Defense Growth Partnership Service program.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion
Data Integration to Drive Global Total Airport Management (TAM) Market Growth, 2030
K52A-22
Contact:
Srihari Daivanayagam, Corporate Communications
M: +91 9742676194; P: +91 44 6681 4412
E: srihari.daivanayagam@frost.com
http://ww2.frost.com
