Global Airport Services Market to be Driven by the Increasing Passenger Traffic in the Forecast Period of 2022-2027
The new report by Expert Market Research titled, ‘Global Airport Services Market Size, Report and Forecast 2022-2027’, gives an in-depth analysis of the global airport services market, assessing the market based on its segments like types, applications, infrastructure types, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 193 billion
- Forecast CAGR (2022-2027): 20%
- Forecast Market Size (2027): USD 241.07 billion
The airport services industry is being driven by the increasing passenger traffic and the expansion of the aviation industry. This is resulting in increased competition, which is motivating the airport governing bodies to improve their services, thereby supporting the market growth. In addition, the increase in international and domestic aircraft fleets and the development of new routes as a part of the government initiatives to expand the airway network are also expected to play a vital role in the development of the airport services industry. Furthermore, the construction of new airports and the renovation of the existing ones to improve the airport service quality are also expected to propel the market growth. Also, the improving living standards and the reduced airfares are anticipated to invigorate the market growth in the forecast period.
Industry Definition and Major Segments
Airport services are the services provided to airlines or an airport by its governing body to meet the potential revenues and the demands of passengers. The airport services quality is multidimensional and assessed on criteria including functional quality, ground services quality, ticketing quality, security quality, and comfort quality, among others.
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The airport services industry, by type, can be bifurcated into:
Based on application, the market can be divided into:
- Aeronautical Services
- Aircraft Ground Handling Services
- Aircraft Maintenance Services
- Passenger Services
- Non-Aeronautical Services
- Baggage Handling Services
- Car Rental
- Car Parking Services
- Food and Beverages Services
- Retail Services
On the basis of infrastructure type, the market is segregated into:
- Greenfield Airport
- Brownfield Airport
The regional markets of airport services include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growing globalisation and the expanding tourism industry have led to the increase in air traffic, which has further enhanced the demand for international and domestic flights. This is projected to support the airport services industry in the forecast period. In addition, the increased government expenditure in the construction of new airport facilities and the renovation of the existing ones is projected to add to the market growth. Moreover, the technological breakthroughs such as the development of green gates that offer benefits of reduced emissions and the rapid adoption of virtual technologies to enhance passenger experience are expected to bolster the market in the forecast period.
Key Market Players
The major players in the market are Fraport AG, Beijing Capital International Airport Co Ltd, Air General Inc., Emirates Group, WFS Global S.A.S., S.A.S. Services Group, LHR Airports Limited, and Acciona, S.A., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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