The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Airport Information Systems Market.
It was estimated prior to this unanticipated outbreak that the Airport Information Systems Market was likely to witness an impressive CAGR of 5.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. The requirement for competent air passenger traffic, technological expansions, and an upsurge in upgradation of prevailing systems are the factors underpinning the growth of the global market of airport information systems.
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Airport Information Systems Market Segment Insights:
By Airport Type:
The class B airport segment is estimated to record the highest growth in the coming five years. The growth of the segment is owing to a rise in passenger traffic from the small cities which has majorly contributed to the demand for expansion and upgradation of airports.
By End-Use Type:
The passenger systems segment is expected to grow at a higher rate during the forecast period. The demand for auto-check in and bag drop are the prime growth drivers of this segment.
By Region:
North America was expected to lead the airport information systems market in 2018. The aviation industry is one of the most lucrative industries in the North American region and the market is driven by the presence of global aviation industry manufacturing giants in the region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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