Intelligent Transportation System (ITS) Market Size| Amadeus IT Holding S.A., Cisco Systems Inc., Indra Sistemas S.A., International Business Machines Corporation

The Intelligent Airways Transportation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Intelligent Airways Transportation Global Market Report 2024, The intelligent airways transportation market size has grown strongly in recent years. It will grow from $18.27 billion in 2023 to $19.89 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The  growth in the historic period can be attributed to early adoption of rfid and barcoding, development of early ai systems, introduction of biometric authentication, emergence of iot in aviation, initial steps in sustainability.

The intelligent airways transportation market size is expected to see strong growth in the next few years. It will grow to $27.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to customer expectations and experience, sustainability and green initiatives, cybersecurity and risk management, data analytics and decision-making, market growth and expansion.. Major trends in the forecast period include automation and robotics, iot and connectivity, ai and predictive analytics, smart infrastructure and sensors, biometrics and security, energy efficiency and sustainability..

The increasing use of airways transport among all modes of transportation is expected to propel the growth of the intelligent airways transportation market going forward. The increasing use of airways refers to more people choosing air travel as their preferred mode of transportation for both passenger and freight transportation purposes. Intelligent airways transportation provides improved safety, improved efficiency, enhanced customer experience, and saving costs. For instance, in April 2023, according to the International Air Transport Association, a Canada-based trade association of airlines across the globe, in February 2022, the total air traffic has risen 55.5% as compared to 2021. In addition, in 2022, international traffic and domestic traffic rose by 89.7% and 25.2% respectively as compared to 2021. Therefore, increasing the use of airways transport among all modes of transportation is driving the growth of the intelligent airways transport market.

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The intelligent airways transportation market covered in this report is segmented –

1) By Component: Hardware, Software
2) By Technology: Robotic And Artificial Intelligence, Data Science, Biometric Enables Self-Services
3) By Deployment: On Cloud, On Premises
4) By Application: Passenger Empowerment, Smarter Baggage Solutions, Biometric-enabled Self-service, Other Applications

Smart technologies are the key trends gaining popularity in the intelligent airways transportation market. Companies operating in the intelligent airways transportation market are adopting and investing in smart technologies to sustain their position in the market. For instance, in October 2022, Société International de Telecommunications Aéronautiques (SITA), a Switzerland-based information technology services provider company in partnership with Versa Networks launched ITA Connect Go technology. The technology is a multi-tenant edge secure software-defined wide area network (SD-WAN) solution specifically designed for the air transport industry. This technology is a multi-cloud technology that provides virtualized infrastructure and cloud access at airports to ground handlers, several airlines, and other tenants.

The intelligent airways transportation market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

Major Players:

• Amadeus IT Holding S.A.
• Cisco Systems Inc.
• Indra Sistemas S.A.
• International Business Machines Corporation
• Nippon Electric Company Limited

 

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