Airport asset-tracking market to grow at 17% CAGR
April 2, 2019
The global installed base of airport asset-tracking systems will reach 0.4 million units in 2023, according to market watcher Berg Insight; the global installed base of active airport asset-tracking systems was less than 0.2 million units in 2018.
This includes all airport asset-tracking systems deployed for various motorised ground support equipment (GSE), non-motorised equipment as well as other applicable airport assets including on-road vehicles used in airport environments.
Berg anticipates increasing uptake of airport asset tracking in the coming years driven by a number of trends related to technological advancements, collaboration and innovation among providers and prospective customers. Growing at a compound annual growth rate (CAGR) of 17.1 per cent, the active installed base is estimated to reach close to 0.4 million units worldwide in 2023.
“The airport asset-tracking market is served by a number of different types of players, ranging from specialists focused exclusively on tracking and management for specific airport assets, to companies that offer a more comprehensive set of solutions for the aviation sector, and more general telematics players that also serve other industries,” said Rickard Andersson, principal analyst at Berg Insight.
Berg ranks Undagrid (GSEtrack), Quantum Aviation and Resonate MP4 (XOPS) as the leading vendors of airport asset-tracking products in terms of installed base.
“Both Undagrid and Quantum have reached more than 10,000 active units,” said Andersson.
Additional major players include Adveez, Targa Telematics and Pinnacle (iMats). Honeywell in late 2018 signed an agreement with Swissport to deploy ground-handling services jointly developed with Pinnacle. Targa Telematics has established a partnership with TCR Group, which is also collaborating with Sensolus for non-motorised GSE tracking.
“Additional players active in the airport asset-tracking market for example include Litum IoT, DigiMobi, EC2E, Inform, Inseego, Tri-Logical Technologies, Smarter Asset Management, Katlyn, Speedshield Technologies and Geotab, all having installed bases of at least 1000 units each,” said Andersson.