SITA has revealed record growth for 2024 against the backdrop to the infrastructure strains under rising passenger numbers in the aviation industry.
With global IT spend in air transport predicted to soar to an estimated $37 billion in 2024, the race is on to modernize fast.
The firm announced its results at the company’s recent Annual General Assembly.
SITA’s 8.3% revenue growth to US$1.6 billion in 2024 is said to be driven by its strong performance across its Airports, Borders, and Aircraft businesses, in all four of its geographies.
Strategic acquisitions and product innovations added fuel to this momentum, including SITA’s acquisition of Materna IPS, expanding its ability to deliver fast, self-service passenger journeys through the industry’s most powerful passenger processing portfolio.
It also acquired ASISTIM, adding centralised airline operations control services, and launched SmartSea, adding cruise and rail to its portfolio.
Its most recent acquisition is Italian airport design experts CCM, to create future-ready travel spaces, planning for optimum passenger flow and baggage handling in the early stages of airport and terminal design.
CEO David Lavorel, said: “With air traffic set to grow 7% between 2025-2027, infrastructure will continue to be stretched. At the same time, travelers are expecting more convenience than ever, and regulatory pressure is rising.
But the opportunities to do things better through transformation are huge. Our role is to deliver the travel tech the industry needs for new levels of efficiency in the flow of passengers, the movement of aircraft, and the fluidity of operations.”
“Our customers tell us they need flexibility, speed, and visibility – all while needing to do more with less,” added Lavorel.
“Transforming travel and transport means having the right travel tech to streamline journeys and operations while also reducing carbon emissions.
“That’s why we’re investing in AI, data, apps, cloud, and digital identities, and co-innovating with customers to build smarter, more sustainable journeys from end to end.”
The business continued its transformation in 2024 and the company streamlined delivery, digitalised service models, and added new skills and competencies.
