Markets and Markets, market researching company has published a report this week that estimates the global Airport Information Systems market worth at $2,640.61million in 2014, with a projected CAGR figure of 4.76%, to reach $3,490.69million by 2020.
The competitiveness of the Airport Information Systems market, according to the report, with a limited number of market participants shows that many are collaborating to ensure success. Growth strategies have been studied and market leaders are making strategic decisions in order to expand their global presence with mergers, acquisitions and joint ventures.
There is an increasing demand for Airport Information Systems as passenger flow increases and costs are micro-managed to ensure maximum operational efficiencies for both airports and airline operators.
Most recently, we see Rockwell Collins, aviation communications giant, with their acquisition of ARINC Inc last year and their agreement signed with Inmarsat earlier this month, making every effort to corner the aviation sector with technological solutions that effectively fit the bill in terms of Airport Information Management and communications.