The Insight PartnersAccording to our latest market study on “Airport Asset Tracking Market Forecast to 2027 – COVID-19 Impact and Global Analysis” the market was valued at US$ 349.3 million in 2019 and is projected to reach US$ 892.2 billion by 2027; it is expected to grow at a CAGR of 13.1% from 2020 to 2027.
A rising number of companies have designed and developed asset tracking and management solutions that can be utilized to keep a track of airport assets and enhance efficiency of the ground handling operations and maintenance routines. Airport assets come in several sizes and shapes. Tractors and tugs are the mobile assets utilized to move equipment such as bag carts, air starters, mobile air conditioning units, and lavatory carts.
Other assets include, belt loaders, container loaders, pushbacks, passenger boarding stairs, and airport buses. Additional asset types found on airports are de/anti-icing vehicles, portable water trucks, lavatory service vehicles, and catering vehicles. Further examples of non-powered equipment comprise chocks and dollies. Dollies are used for loose baggage, cargo pallets, and unit load devices. All these types of assets require asset tracking and management solutions for monitoring their locations and status in real-time.
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COVID-19 Impact on Airport Asset Tracking Market
According to the World Health Organization (WHO) report, the US, Brazil, India, and Russia are among the worst affected countries due to the outbreak of COVID-19. Due to COVID-19 pandemic, the entire aviation industry has come to an unscheduled halt across the world in last few months. The suspension of passenger air transport by the governments and airport authorities has shocked several associated industries. Also, there was halt in airport infrastructure development worldwide. Thus, the adoption rate of asset tracking solutions for various airport assets is expected to remain slow over the next couple of years.
Abeeway SAS, Adveez SAS, Asset Fusion Limited, Ctrack, Litum, SteerpathOy, Telemetry Systems Ltd, Undagrid B.V., Targa Telematics S.p.A., Geotab Inc., Inseego Corp., Unilode Aviation Solutions, and Trilogical Ltd. are the leading players operating in the airport asset tracking market.
The airport asset tracking market involves players offering diverse types of benefits, ranging from solutions for the exclusive tracking of airport assets to all-inclusive solutions for the aviation industry; it also includes several general telematics players. A few of the recent developments in the airport asset tracking market are listed below:
2020: Geotab announced a collaboration with Deloitte. As per the partnership, Deloitte would offer Geotab’s award-winning product portfolio as well as consultation and integration services to its current customers based across Canada and Latin America.
2019: Adveez completed the partnership with Sabena Technics for developing new indoor and outdoor tracking module to locate the right equipment for the right aircraft operation. The accuracy of the tracking module is in the range of 3–5 meters.
2018: Asset Fusion Limited partnered with Smart Asset Manager Ltd for the development of the asset tracking platform for all vehicle tracking devices.
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