According to a new market report published by
Lucintel, the future of the global airport service industry looks attractive with opportunities in the cargo
handling, hospitality services, and aircraft handling services. The global airport
service industry is forecast to grow at a CAGR of 5.2% from 2015 to 2020. The
major drivers of growth for this market are increasing passenger traffic, and growth
in airline and tourism industry.
In this market, hospitality event services, cargo
handling services, and aircraft handling services are some of the major segments. On
the basis of its comprehensive research, Lucintel forecasts that the cargo
handling service, hospitality event service, and aircraft handling service segments
are expected to show above average growth during the forecast period.
Within the global airport service industry, the hospitality event service segment
is expected to remain as the largest market. An improvement in the global
economy, rise in consumer spending, an increase in travel and tourism, and
growth in air passenger traffic are expected to
spur growth for this segment over the forecast period.
Europe is expected to remain the largest
market due to the adoption of open skies policy and increasing tourist’s
arrival.
Asia Pacific and Rest of the World are expected
to witness significant growth over the forecast period because of expansion of airport
terminals, setting up of new airports, and increasing passenger traffic.
For market expansion, the report suggests
development of new and value added service to enhance the performance of
airport services. The report further suggests the development of partnerships
with customers to create win-win situations and development of low-cost
services for customers.
Emerging trends, which have a direct impact on
the dynamics of the industry, include the introduction of virtual technology to
improve the customer service, emergence of hybrid check-in system, and increasing
use of smartphone apps to provide passengers with enhanced and quality services
in emerging markets. Fraport Frankfurt Airport Srvc Wrldwd AG, Aeroports de
Paris SA, Japan Airport Terminal Co. Ltd., Singapore Airport Terminal Services
Ltd., and BBA Aviation plc are the major service providers in the global airport
service industry. Some companies are opting for merger & acquisition as
strategic initiatives for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the airport services industry by service type, and region and has come up with
a comprehensive research report, “Growth
Opportunities in Global Airport Service Industry 2015-2020: Trend, Forecast,
and Market Analysis.” The
Lucintel report serves as a springboard for growth strategies, as it provides a
comprehensive data and analysis on trends, key drivers, and directions.
This
120-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/reports/aerospace_defense/global_airport_service_industry_2015_2020_trends_forecast_and_opportunity_analysis_june_2015.aspx or
helpdesk@lucintel.com.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A,
and due diligence services to executives and key decision-makers in a variety
of industries. For further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q. 1 How big the opportunities for airport
service industry by service type and regions?
Q. 2.
Which segments will grow at a faster pace and why?
Q. 3. Which
region will grow at a faster pace and why?
Q.4 What are the key factors affecting market
dynamics? What are the drivers and challenges of the market?
Q.5. What are the business risks and threats of this market?
Q.6 What are emerging trends in this market and
reasons behind them?
Q.7 What are some changing demands of customers
in the market?
Q.8 What are the new developments in the
market? Which companies are leading these developments?
Q.9 Who are the major players in this market?
What strategic initiatives are taken by key players for business growth?
Q.10 How is the competitive rivalry and threat of
substitution in this market?
Q.11. How many M & A
activities happened during last 1- 2 years and what are their impacts?
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