The maritime industry is rapidly evolving with digital technologies, aiming to enhance efficiency, safety, and sustainability. Recent interest has focused on autonomous vessels and the digitalization of ports, yet fairway development has lagged behind. To effectively support the growing digital and autonomous marine traffic, it is essential that fairways are also upgraded and modernized. Addressing this need, this study examines key elements of Smart Fairways, with a particular focus on Finland’s maritime infrastructure. This research contributes to the development of the Smart Fairways concept by identifying five foundational and ten advanced Smart Fairway service elements. The main finding highlights the foundational role of communication systems in the development of more advanced Smart Fairway services such as Enhanced Vessel Traffic Service, Port just-in-time Service, Remote Pilotage, and Digital Twin of the Physical Fairway.