ID: MRFR/ICT/9557-HCR | January 2023 | Region: Global | 120 Pages
Segmentation | |||||||||||||||||
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Companies Profiled | |
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Key Players | |
Collins Aerospace (US) | |
FLIR Systems | |
Inc. (US) | |
Fluke Corporation (US) | |
Daifuku Co. | |
Ltd. (Japan) | |
Amadeus IT Group SA (Spain) |
Market Driving Forces | |
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Drivers | |
Increase in the use of Smartphone | |
Increasing need for real-time information | |
Increasing passenger traffic across the globe |
The global Airport Operations Market size is projected to be worth ~USD 13.8 billion by 2030, registering a CAGR of ~6.3% during the forecast period (2022 - 2030)
Airport Operations cover a wide range of procedures that make sure an aircraft operates efficiently in a variety of circumstances. The primary categories for airport operations are information management, financial operations, airside operations, and landside operations. The airside operations cover runway management, ground handling safety, aircraft landing & navigation, and air traffic control. The focus of landside operations is on passenger service and building maintenance for airport terminals. It covers activities like check-in for passengers, bag handling & labeling, parking facilities, controlling traffic for vehicles, staffing, and resource allocation, among others. The financial operations include point-of-sale operations, staff payrolls, and billing & invoicing operations for both aeronautical and non-aeronautical products. A variety of information, including arrival and departure times, daily flight information, significant announcements, and airline connections, are gathered and distributed by the information management system. Over the past ten years, the importance of airport operations has increased due to the increase in air traffic around the world and the adoption of new operational technologies.
COVID-19 Analysis Of Airport Operations Market
The impact that COVID-19 has had, both quickly and considerably, on airport traffic and revenue has been significant. As a result of the COVID-19 pandemic, there was a decline in passenger travel around the world. According to ACI, the problem first manifested itself in Asia-Pacific; however, the rapid spread of the virus and the containment measures that were put into place as a result of the rapid spread of the virus, such as government advice to stay home and airport closures, led to a decline in global air traffic. As a direct consequence of the sharp fall in air traffic, practically all aspects of the aviation and non-aviation industries have seen their revenue plateau. When airlines cut capacity, their aeronautical revenue, which the airports obtain from the airlines in the form of aircraft landing fees and security costs, goes down. Non-aviation revenue at airports, such as that generated by duty-free stores, dining establishments, and parking lots, falls when fewer passengers use those facilities.
Airport Operations Market Dynamics
Drivers
Airport Operations Market Opportunities
Value Chain Analysis
The global airport operations collection market is projected to exhibit significant growth during the forecast period. This is attributed to factors such as the rising usage of smartphones, the growing need for real-time information, and increasing passenger traffic. The value chain analysis for the market is comprised of five major components, which start with research & product development, followed by product manufacturing, distribution & sales, and end with post-marketing surveillance.
Airport Operations Market Segment Overview
By Operation Type
Based on operations type, the global airport operations market is segmented into baggage screening, terminal infrastructure maintenance and upgrade, smart technologies, passenger screening, catering and QSR, and aircraft MRO. The baggage screening segment is expected to hold the largest market share during the forecast period. Major airports are concentrating on reducing passenger wait times at checkpoints while maintaining a high level of security. Airports are implementing cutting-edge and creative technologies to enhance bag screening. The need for sophisticated baggage screening systems is primarily driven by increased air passenger traffic and global security threats. To stop terrorism and the transfer of illegal materials, new regulations by airport regulatory agencies require airports to install intelligent systems that can identify a variety of dangerous commodities and substances.
By Airport Size
Based on airport size, the airport operations market is segmented into class A, class B, class C, and class D. The class B segment is expected to grow at the highest CAGR over the forecast period. The rise in the segment's size can be attributed to an increase in passenger traffic from smaller cities, which has been a major contributor to the desire for airports to expand and upgrade their facilities.
Airport Operations Market Regional Analysis
The airport operations market based on the region has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
During the forecast period, it is anticipated that the Asia Pacific would account for a sizeable share of the market. It happens as a result of the growing demand for upgrading current airports from expanding economies like China and India. Additionally, the industry is expected to expand because of the rise of the internet of things (loT) enabled smartphone solutions. During the forecast period, Europe is expected to see the highest rise in passenger travel activity. The airport operations market is being driven by the growing need for airport management systems in the rest of the world to increase the operational effectiveness of airports in Latin America, the Middle East, and Africa.
Airport Operations Market Competitive Landscape
The key industry players are adopting various business strategies such as significant investments in R&D activities to increase their market presence and expand their product portfolio thereby, driving the airport operations market. In addition, the airport operations market players are adopting several strategic initiatives such as new product launches, mergers & acquisitions, contractual agreements, increasing investments, and collaboration with other players to expand their global footprint. For instance, in March 2018, The Airports Authority of India (AAI) increased the scope of its contract with air transport IT supplier SITA, enabling the latter to set up its baggage management system, BagManager, at 15 airports across India.
List of companies covered in airport operations market:
Recent Developments
Report Overview
The study covers the existing short-term and long-term market effects. It helps decision-makers to draught short-term and long-term business plans by region. The report covers major regions in North America, Europe, Asia-Pacific, and the Rest of the World. The report analyzes market drivers, restraints, opportunities, challenges, Porter's five forces, value chain, and impact of COVID-19 on the airport operations market.
Study Objectives
Airport Operations Market Segmentation:
Global Airport Operations Market, By Operation Type
Global Airport Operations Market, By Airport Size
Global Airport Operations Market, By Region
Intended Audience
Report Attribute/Metric | Details |
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Market Size | 2030: ~USD 13.8 Billion |
CAGR | ~6.3% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2018-2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Operation Type, and Airport Size |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World |
Key Vendors | • Collins Aerospace (US) • FLIR Systems, Inc. (US) • Fluke Corporation (US) • Daifuku Co., Ltd. (Japan) • Amadeus IT Group SA (Spain) |
Key Market Opportunities | Rising technological advancement |
Key Market Drivers | • Increase in the use of Smartphone • Increasing need for real-time information • Increasing passenger traffic across the globe |