PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1266624
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1266624
Global Airport Services Market is valued at approximately USD 89.87 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 16.80% over the forecast period 2022-2029. Airport services are any services offered to airlines by an airport or one of its affiliates to ensure the handling of aircraft from the time of landing to the time of takeoff, as well as of passengers and cargo, allowing airlines to offer air transport services, including the provision of ground handling services and the provision of centralised ground handling infrastructure; The major areas of business opportunity here are passenger handling (customer service tasks) and floor management (freight and cargo/delivery, flight control, and other tasks). The Airport Services market is expanding because of factors such as developments in modernization of the airport and increased passenger traffic and congestion.
Rising government investment in the development of airport infrastructure is further catering to market growth. For instance, The Airports Authority of India (AAI) stated in December 2021 that they have invested over USD 3.5 billion in the following five years to renovate and expand current facilities. The funding comes from a variety of revitalizing initiatives done by the Indian Ministry of Civil Aviation to lessen the significant interruptions brought on by the COVID-19 epidemic in 2020 and 2021. In addition, The International Air Transport Association (IATA) expects overall air traveller numbers to reach 4.0 billion in 2024. From the same source, it has been found that the total number of travellers in 2021 was 47% higher than in 2019. It is anticipated that by 2022, 83%, which is expected to reach 94% by the year 2023, 103% by the year 2024, and 111% by the year 2025. Thus rising air traffic in the aviation industry is favoring market growth. In addition, the rise in the number of airports and the refurbishment of existing airport infrastructure, the adoption of artificial intelligence technology in modern Airports is creating lucrative growth in the market. However, the high cost of Airport Services stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Airport Services Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key market players, and rising passenger traffic in the region, and rising government support for the development of airport. Whereas Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as airport development activities.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Airport Typeofferings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable