Airport Infrastructure Services Market may Register an Impressive Growth Through 2027
The
rapidly growing modernization of old airports and the construction of new
airport terminals is expected to drive the global airport infrastructure
services market in the coming years.
According
to TechSci report on, “Airport Infrastructure
Services Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2017-2027”, The growth of the global airport
infrastructure services market can be attributed to the inflating per capita
income of the consumers, along with their elevating living standards.
Furthermore, the upliftment of a ban on international flights due to covid is
helping the market grow and expand. Moreover, the increasing availability of
low-cost airline operator who provides air tickets at a lower price than the
other airlines has resulted in an increased number of passengers. The increased
number of passengers calls out for efficient ground service facilities such as
quick check-in, baggage handling, airport security, and so on. To deal with
this, several market leaders are integrating smart airport technologies to
manage the crowd and flights efficiently. For instance, the deployment of
artificial intelligence (AI) in several airport services, such as security,
check-ins, airport traffic services, cargo services, etc., is increasing the
efficiency, safety, and productivity of companies operating in the aerospace
sector. Besides this, the rising government initiatives and financial
incentives to revamp the old airports and construct new airports and terminals.
For instance, the federal government has granted USD 20 million for
constructing a new terminal at Pittsburgh International Airport. This terminal
will have a 700,0000-square-foot landside terminal, which will include a new
passenger security screening checkpoint, customs area, cafeterias, and other
additional support functions. Initiatives like these are positively impacting
the market growth.
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Pages and an in-depth TOC on "GLOBAL AIRPORT INFRASTRUCTURE SERVICES MARKET"
The Global airport infrastructure services market is segmented
by application, type, service type, catering services, competitive landscape,
and regional distribution. Based on application, the market is differentiated
between aeronautical and non-aeronautical. Among these, the aeronautical
services segment is estimated to hold a significant market share. These
services include aircraft maintenance services, passenger services, and flight
tickets. These services are more profit-making services. The aircraft
maintenance services segment is witnessing robust growth due to increasing
demand for MRO (maintenance, repair, and operation) and line maintenance
services across the world.
By type, the market is bifurcated into International
Ports and Domestic Ports. The domestic port segment is projected to hold a considerable
market share in the coming years. This this primarily due to the increasing
passenger traffic in the domestic airlines amid pandemic demand in domestic
flights is also increasing due to number of factors such as increased
development in businesses and rising number of jobs in metropolitan cities,
growing tourism and inflating disposable income of the consumers. However, the
international ports are anticipated to be the fastest-growing segment
post-pandemic as the worldwide restrictions have been lifted.
Based on the service type the market is segmented into
air traffic services, ground facilities, cargo facilities, airport security,
and others. The air traffic type is further segmented into area control
service, flight information services, air traffic advisory services, alarm
services, and others. The ground facilities are divided among ticketing,
check-in, baggage handling, lobby management, aircraft boarding, toilet and
water servicing, and others. The cargo facilities are further segmented into
cargo terminals management, automatic storage and retrieval systems, cargo
transport, and others. The airport security is bifurcated between baggage
x-rays, metal detecting scans, elevated-risk screening, and others.
On the basis of catering services, the global market
is segmented between lounges offering, canteen services, and others. Among
these, the canteen services have led the market in the past and is expected to
lead the market in the coming years. Canteen services are affordable and easily
accessible as compared to the lounge services at an affordable price to the
travelers. However, the lounge services offer some complementary services such
as free food, Wi-Fi, fully stocked bars but to avail such services the traveler
must hold some specific cards of well renowned banks.
A list of major
market players of the global airport infrastructure services market includes:
- BBA Aviation Plc
- Dubai National Air
Transport Association
- Menzies Aviation
Plc
- SATS Ltd.
- Swissport
International AG
- LHR Airports
Limited
- Acciona
- Signature Aviation
plc
- Tokyo
International Air Terminal Corporation
- Çelebi Aviation
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“The North America Region is
expected to hold the largest market share in the coming years. This is
primarily due to the inflating disposable income of the consumers and the
presence of leading players such as American Airlines. Also, the modernization
and transformation of the existing airports in North America is acting as
another growth-inducing factor for the segment. However, the Aisa Pacific
region is anticipated to be the biggest emerging region in the global market
owing to the exponentially rising population in the region, an increase in the
number of working people migrating to metropolitan cities for job purposes, and
several initiatives by the government to support the airline service sector.
For instance, the Indian government has signed bilateral air service agreements
with 116 countries and is permitting foreign carriers to serve India by adding
more flights to the country’s metropolitan cities, which will make
international flights a little cheaper. This will proliferate the number of
people opting for air travel and airport services, which will eventually
provide a thrust to the airport infrastructure services market,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Airport Infrastructure Services Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By
Application (Aeronautical & Non-Aeronautical), By Type (International
Ports, Domestic Ports), By Service Type (Air Traffic Services, Ground
Facilities, Cargo Facilities, Airport Security, Others), By region, Competitive
Analysis” has evaluated the future growth potential of Global airport
infrastructure services market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global airport
infrastructure services market.
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