According to Custom Market Insights (CMI), The Global Airport Operations Market size was estimated at USD (6.5 B) in 2021 and is expected to hit around USD (11.9 B) by 2030, poised to grow at a compound annual growth rate (CAGR) of 5.5% from 2022 to 2030.
Our recently published report, “Airport operations Market”, offers a comprehensive and deep evaluation of the market stature. Also, the market report estimates the market size, revenue, price, market share, market forecast, growth rate, and competitive analysis.
Airport Operations Market: Overview
Airport operations include all the tasks and procedures to ensure travelers have a pleasant experience. TSA, gateway operators, airport customer service, etc., are a few examples of airport operations. As a result, passengers may arrive at their destination securely and without difficulty with proper airport operations. The primary factors driving this expansion include increasing aviation traffic, the need for more fantastic operational planning, a high concentration of movements, and the requirement to supervise all airport activities to guarantee safety and efficiency. However, since most countries throughout the world have implemented lockdowns during Covid-19, the faltering global aviation sector is significantly negatively influencing airport operations. Airports are also crucial for treating medical crises since they are most nations’ main entrance and departure points. However, the pandemic can encourage investments in cutting-edge technology and fundamentally alter the business landscape.
Browse the full “Airport Operations Market Size, Trends and Insights By Operation (Airside Operations, Landside Operations, Financial Operation, Information Management), By Airport Class (Class A, Class B, Class C, Class D), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at ReportURL
A significant driver of increased investment in intelligent airports is the rise in air travel globally. In the coming decades, it is anticipated that rising incomes will increase competition and liberalization in developing aviation markets, increasing airport traffic worldwide. This will, in turn, encourage the adoption of a variety of new technologies and solutions at airports to enhance the traveler experience. In the near and medium terms of the projection period, it is anticipated that this growth driver will have a significant influence. In addition, the aviation business has been dramatically impacted by low-cost carriers. Compared to other airlines, these airlines provide affordable travel tickets. Due to increased economic activity and urbanization over the past several years, these low-cost airlines have drawn more travelers and seen tremendous expansion on a global scale.
Additionally, rising consumer desire for hassle-free travel and convenience has aided market expansion. As a result, the demand for low-cost airlines has increased, which has prompted the creation of more affordable aviation services that are anticipated to stimulate industry expansion. The low-cost aviation sector has seen substantial growth in Europe and Asia-Pacific over the past ten years, and there are no signs that this growth will slow down. Higher growth rates are therefore anticipated throughout the projection.
The continually rising IT spending on airports is a significant driver of the worldwide market for airport operations. Airport IT spending may increase as companies invest more to lower operating costs (OPEX) and incorporate cutting-edge technologies like wireless connections, automated solutions, and check-in kiosks. In addition, due to rising investments in IT and telecommunications, airport authorities seek to offer various infrastructural services to give their clients more connected, convenient, and in-control travel experiences. It is predicted that this growth driver will have a substantial impact over the medium and long periods of the projected period due to rising IT & communications investment in the airport sector.
The market for airport operations is segmented into function and airport class. According to the process, the landside operations segment is expected to increase at the quickest rate. In 2021, the landside operations segment accounted for more than one-third of the global airport operations market. It is predicted that this segment will continue to have the largest market share during the forecast period. Additionally, this phase is anticipated to develop at the fastest CAGR between 2022 and 2030. This is due to increased demand for improved passenger experience and assistance with automated operations. The landside operations’ goals include providing passenger service and maintaining circular roadways, parking lots, and terminal buildings.
The global market is divided into class A, class B, Class C, and class D on the manner of airport class. In 2021, the class B category led the market and was anticipated to expand quickly over the forecast period. The segment’s expansion may be attributed to the rise in passenger traffic from small cities, which has significantly raised the need for airport expansion and modernization. In addition, a rise in disposable income and high traffic times leads to a shift in middle-class people to use air transport systems which drives the airport operation market during the forecast period.
The most significant market share was held by North America in the airport operations industry. Due to the increase in air travel caused by rising disposable income and regional economic growth, effective management of airport operations is required. North America has invested in many infrastructural projects related to airport construction. This region has vital market players, which makes this region a dominant area. A significant component of increased airport investment is the rise in air travel. In the coming decades, it is anticipated that rising incomes will increase competition and liberalization in developing aviation markets, increasing airport traffic worldwide. This will, in turn, encourage the adoption of a variety of new technologies and solutions at airports to enhance the traveler experience.
Asia-Pacific is anticipated to expand more quickly throughout the projected period due to rising investment in the research & development process and acceptance of solutions in the area. Industry growth is anticipated to be further fueled by expanding competitors in the airport operations market across geographies. Moreover, throughout the study, the market is expected to be supported by rising expenditures from notable vendors in product capabilities and business growth. In growing economies like China and India, where enormous populations are combined with recent advances in various industries, many market participants are discovering attractive prospects.
|Feature of the Report||Details|
|Market Size in 2021||USD (year from)|
|Projected Market Size in 2030||USD (year)|
|Market Size in 2022||USD (2022Value) Billion/Million|
|CAGR Growth Rate||XX% CAGR|
|Prominent Players||Cisco Systems Inc., Honeywell International Inc., Huawei Technologies Co. Ltd., ES Mobility, IBM, Indra, QinetiQ, Raytheon Technologies Corporation, Siemens, SITA, Damarel Systems International Ltd., Amadeus IT Group, Inform GmbH, Aena, Teledyne Technologies Incorporated, Thales, Daifuku Co. Ltd., and Others|
|Key Segment||By Operation, Airport Class, and Region|
|Report Coverage||Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
|Buying Options||Request tailored purchasing options to fulfil your requirements for research.|
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- Cisco Systems Inc.
- Honeywell International Inc.
- Huawei Technologies Co. Ltd.
- ES Mobility
- Raytheon Technologies Corporation
- Damarel Systems International Ltd.
- Amadeus IT Group
- Inform GmbH
- Teledyne Technologies Incorporated
- Daifuku Co. Ltd.
The global Airport operations market is segmented as follows:
- Airside Operations
- Landside Operations
- Financial Operation
- Information Management
By Airport Class
- Class A
- Class B
- Class C
- Class D
On the basis of Geography
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America