Airport Infrastructure Services Market: Industry Size & Forecast
The global airport infrastructure services market is growing rapidly, thanks to the increasing per capita income of consumers and their improved living standards, as indicated by the TechSci report titled "Airport Infrastructure Services Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027". The market is further expanding due to the lifting of travel restrictions imposed during the COVID-19 pandemic.
The availability of low-cost airline operators offering affordable airfares has also contributed to the growth in passenger numbers. Consequently, there is an increased demand for efficient ground services such as quick check-in, baggage handling, and airport security. To meet these demands, market leaders are adopting smart airport technologies that use artificial intelligence to improve the efficiency, safety, and productivity of airport services. Additionally, government initiatives and financial incentives aimed at revamping old airports and constructing new ones have positively impacted the market growth. For example, the US federal government granted USD 20 million for the construction of a new terminal at Pittsburgh International Airport, which will include a new passenger security screening checkpoint, customs area, and other support functions.
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The Global airport infrastructure services market comprises segments based on application, type, service type, catering services, competitive landscape, and regional distribution. The aeronautical and non-aeronautical segments are differentiated based on application. The aeronautical services, including aircraft maintenance services, passenger services, and flight tickets, are more profitable and estimated to hold a significant market share. The aircraft maintenance services segment is growing robustly due to the increasing demand for MRO and line maintenance services across the world.
The market is bifurcated into International Ports and Domestic Ports by type. The domestic port segment is projected to hold a considerable market share due to increasing passenger traffic in domestic airlines amid pandemic. The demand for domestic flights is increasing due to several factors such as increased development in businesses, rising numbers of jobs in metropolitan cities, growing tourism, and inflating disposable income of consumers. However, the international ports are anticipated to be the fastest-growing segment post-pandemic as 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.
The global market is segmented based on catering services, including lounges offering, canteen services, and others. Canteen services have led the market in the past and are expected to lead the market in the coming years as they are affordable and easily accessible to travelers. However, lounge services offer some complementary services such as free food, Wi-Fi, and fully stocked bars. To avail such services, travelers must hold 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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