The recovery of the tourism sector has driven growth in the aviation technology business, with a projected aviation industry growth rate of at least 10% this year, according to SET-listed aviation tech company Sky ICT.
According to Airports of Thailand, there were 119 million inbound and outbound tourists in 2024.
Sithidej Mayalarp, chief executive of Sky ICT, said the company posted total revenue in 2024 of over 6.74 billion baht, a 63% increase from the previous year, representing a new high when it comes to revenue streams.
The revenue growth was primarily driven by higher aviation-related service revenue.
Sky ICT's net profit was 481 million baht, moving towards long-term growth thanks to an increasing influx of foreign tourists and their use of airport facilities related to tech applications.
Mr Sithidej said the company anticipates that the country's aviation industry will grow by no less than 10% in 2025.
He said the company has continued to diversify its investments to generate stable and substantial income.
The company invested in One to One Professional Co Ltd (OTP) last year, according to its filing to the SET.
OTP's business involves providing outsourced contact centre services, which include fully-managed contact centre and customer relationship management services.
Its ongoing development of artificial intelligence capabilities enhances its competitiveness, enabling it to offer services that meet current and future customer demands, according to the company.
On Jan 20, Pro Inside Public Co Ltd (PIS), a subsidiary within the group, was officially listed and began trading on the Market for Alternative Investment (MAI) in the technology sector.
This milestone highlighted PIS's strong potential as a provider of comprehensive information and communication technology (ICT) solutions.
He added that the Sky ICT has a project backlog worth over 23 billion baht, which will be recognised as revenue over the next 6-7 years.
Recently, Sky ICT launched an Automated Biometric Identification System, allowing tourists to conveniently travel through all check-in points at all six of AOT's airports.
This is another mission that will help push Thai airports towards becoming world-class airports and respond to the need to become a touchless society, Mr Sithidej said.
