According to
a new market report published by Lucintel, the future of the global airport
service industry looks promising with opportunities in the hospitality event,
cargo handling, and aircraft handling services. The global airport service
industry is expected to reach an estimated $211.5 billion by 2023 and it is
forecast to grow at a CAGR of 4.2% from 2018 to 2023. The major growth drivers
for this market are rising air passenger traffic, opening of new airports, and expansion
of new domestic and regional routes in the aviation market.
Within this market, hospitality event, cargo handling,
and aircraft handling are the major service segments. On the basis of its
comprehensive research, Lucintel forecasts that the hospitality event and cargo
handling services segments will show above average growth during the forecast
period.
Europe is expected to remain the largest
region due to the new Open Skies regulations, which ensure more flights in and
out of Europe and also removes air-service limitations between the countries, helping
to drive tourism and the airport service industry. Asia Pacific is expected to
witness significant growth over the forecast period because of rising passenger
traffic.
Emerging trends, which have a direct impact on
the dynamics of the industry, include increasing trends of artificial
intelligence in the air transport industry, introducing green gates to reduce
emissions, introducing virtual technology to improve customer service, and
increasing use of smartphone apps to helps the passenger for schedule planning.
The major service providers in the global airport service industry are Fraport Frankfurt
Airport Services Worldwide, Aeroports de Paris SA, Japan Airport Terminal Co. Ltd,
BBA Aviation plc, Beijing Capital International Airport Co., Ltd, Tav
Havalimanlari Holding A.S, Sats Ltd, Auckland International Airport Limited, Flughafen
Wien AG, and Malaysia Airports Holdings Berhad.
Lucintel, a leading
global strategic consulting and market research firm, has analyzed growth
opportunities in the global airport service industry by service type and
region. Lucintel has compiled a comprehensive research report entitled “Growth
Opportunities in the Global Airport Service Industry 2018-2023: Trends,
Forecast, and Opportunity Analysis.”
The Lucintel report serves as a catalyst for growth strategy, as it provides
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global airport service industry by service
type and region, as follows:
By Service Type ($ Billion from 2012 to 2023):
·
Hospitality Event Services
o
Baggage Handling Services
o
Catering Services
o
Passenger Parking Fields
o
Retail and Duty-Free Services
o
Special Passenger Care Services
o
Training
o
Security Services
·
Cargo Handling Services
o
Cargo Operations
o
Ground Support Services
·
Aircraft Handling and Related Services
o
Ramp Services
o
Runway Maintenance
o
Operation of Fueling
o
Aircraft De-icing
o
Others
·
Other Services
o
Cabin Cleaning and Sanitary Services
o
Real Estate Development
o
Others
By Region ($ Billion from 2012 to 2023):
·
North America
o
US
o
Canada
o
Mexico
·
Europe
o
Germany
o
France
o
Russia
o
United Kingdom
·
Asia Pacific
o
China
o
Japan
o
India
·
The Rest of the World
o
Brazil
o
Argentina
This
190-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 email us at helpdesk@lucintel.com. Lucintel
offerings include Aerospace
Report, Defense
Market Report, Opportunity
Screening and Analysis, Capital
Investment Feasibility and SWOT Matrix.
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 the following 11 key questions:
Q.1. What are some of the most promising, high growth
opportunities for the airport service industry by service type [hospitality event services: (catering
services, special passenger care services, passenger parking field, retail and
duty-free, training, security services, and baggage handling segments), cargo
handling services: (cargo operations and ground support services segment),
aircraft handling and its related services: (operation of fueling, ramp
services, runway maintenance, aircraft de-icing and others segment), and other
services: (cabin cleaning and sanitary services, real estate development, and
others)], and region (North America, Europe, Asia Pacific, and the Rest
of the World)?
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
key challenges and business risks in this market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of the 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 key players pursuing for business growth?
Q.10. What are some of the competing services in this market and how big
of a threat do they pose for loss of market share by service substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has
its impact been on the industry?
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