Airport Service Market: An Overview
The Global Airport Service industry is expected to be valued worth USD 218.5 billion by 2026 and is expected to grow at a CAGR of 5.1 percent in the forecast period 2020-2026. Global Airport Services
deals in providing support services ranging from passenger handling, ramp and
loading, operations, and other services within its airport network, provided at
a certain distance from the airport’s facilities. The airport service market
caters to industry segments such as businesses that operate internationally,
operators that support airports, national or civil airports or public flying
fields, air traffic control services, cargo handling services, baggage handling
services, and other services. The growth of the market can be
attributed to factors such as the opening of new airports, expansion of new
domestic and regional routes in the aviation market, and air passenger traffic.
Airport Service Market: Market Dynamics
The emerging trends which
have been hugely impacting the expansion of the global airport service market
include the introduction of green gates to reduce emissions, increasing trends
of artificial intelligence in the air transport industry, the introduction of
virtual technology to support customer service and increasing use of smartphone
apps to help the passenger for schedule planning. Other key factors impacting
the growth of the market include increasing operation and maintenance of
airports and runways, rising need for air traffic control, aircraft refueling
services and taxi and parking slots services at airports along with baggage and
cargo handling services.
Over the forecasted period,
the global airport service market is expected to show tremendous growth due to
rising levels of airline passenger traffic, having enabled airports to earn
significant revenue through passenger levied charges and support services
provided directly to airlines. Additionally, ground-level transportation at the
airport, increased global consumer spending has encouraged greater spending on
non-aeronautical industry services such as duty-free retail stores, which in
turn are boosting industry profit margins. Improvement in economic conditions
has increased corporate profits and fueled global manufacturing activity,
causing airlines to operate more flights to transport greater quantities of
cargo, henceforth helping the overall market to grow at a robust margin.
Airport Service Market: Market Segmentation
As per service type, the
Global Airport Service Market by Hospitality Event Services further divided as
Special passenger care services, catering services, passenger parking field,
training, security services, retail and duty-free and baggage handling
segments, Cargo Handling Services further segmented as Cargo operations and
baggage handling segments, aircraft handling and its related services including
operation of fueling, Runway Maintenance, Ramp Services, Aircraft de-icing and
Others. In 2019, Hospitality event services, aircraft handling, and cargo
handling had been the major services segment contributing the largest share to
the Global Airport Service Market and were expected to dominate the market in
the forecasted period.
Airport Service Market: Regional Landscape
North America, Europe,
Asia-Pacific, South America, and the Middle East and Africa are few of the key
regions where the presence of the global airport service market can be
witnessed. In 2019, Europe contributed the largest share to the global airport
service market owing to factors such as open skies regulations, ensuring more
flights in and out of Europe, removal of air-service limitations between the
countries, helping to drive tourism and remove air-service limitations between
countries. Asia-Pacific is expected to emerge as a key region in the global
airport service market in the forecasted period due to factors such as rising
passenger traffic, new international and domestic airport openings, and
government regulations supporting the services at the airport.
Airport Service Market: Key Market Players
Fraport Frankfurt Airport
Services Worldwide, Japan Airport Terminal Co. Ltd, Aeroports de Paris SA, BBA
Aviation PLC, Beijing Capital International Airport Co. Ltd, Tav Havalimanlari
Holding AS, Auckland International Airport Limited and Malaysia Airports Holdings
are few of the key market players in the global airport service market.
Questions Answer by the Report
How will the market drivers, restraints and
opportunities affect the market dynamics?
What will be the market size in terms of
value and volume and market statistics with a detailed classification?
Which segment dominates the market or region
and one will be the fastest growing and why?
A comprehensive survey of the competitive
landscape and the market participant players.
Analysis of strategy adopted by the key
player and their impact on other players.
Scope for the Client
Client satisfaction is our
first and last priority and that’s why BlueWeave Consulting offers
customization according to company’s specific needs. The following
customization options are available for the report:
With five additional company detail analysis
Additional country analysis
Detailed segment analysis