Airport asset trackers to more than double by 2024, says Berg
April 8, 2020
The global installed base of active airport asset-tracking systems will reach 0.5 million units by 2024, according to market watcher Berg Insight. This is up from more than 0.2 million units in 2019.
The figures include all airport asset-tracking systems deployed for various motorised ground support equipment, non-motorised equipment and other applicable airport assets such as on-road vehicles used in airport environments.
Growing at a compound annual growth rate (CAGR) of 15.4 per cent, the active installed base is estimated to reach close to 0.5 million units worldwide in 2024.
The current crisis in the aviation industry due to the Covid-19 pandemic will likely slow down the airport asset-tracking market in the short-term. Berg nevertheless anticipates increasing uptake of airport asset tracking during the forecast period driven by a number of trends related to technological advancements, collaboration and innovation among the technology providers and their prospective customers.
“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 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, Resonate MP4 (XOPS) and Adveez as the leading vendors of airport asset tracking in terms of installed base. Undagrid and Quantum have installed bases exceeding 10,000 active units each.
“Additional major players include Targa Telematics and Sensolus, which have both partnered with the GSE rental company TCR Group, as well as Inform, Pinnacle and Smarter Asset Management,” said Andersson.
He added that Pinnacle (iMATS) had notably partnered with Honeywell, which had signed a major agreement with Swissport to deploy ground handling services jointly developed with Pinnacle. Smarter Asset Management (Sam) has in turn signed a global contract with Menzies Aviation to roll out telematics.
“Other players active in the airport asset tracking space include Litum IoT, EC2E, DigiMobi, Inseego, Tri-Logical Technologies, Transpoco, Katlyn International, Speedshield Technologies, SpaceTeam, Geotab and the Ortus Group, all having installed bases of at least 1000 units each,” said Andersson.