Leading Players: Airport Services Market

The leading companies in the worldwide market for airport services include SATS Ltd (Singapore), Japan Airport Terminal Co., Ltd (Japan), BBA Aviation plc (UK), Fraport Frankfurt Airport Services (Germany), Flughafen Wien AG (Austria), Auckland International Airport Limited (New Zealand), Beijing Capital International Airport Co., Ltd (China), Malaysia Airports Holdings Berhad (Malaysia), Tav Havalimanlari Holding AS (Turkey), Aeroports de Paris SA (France), to name a few.

Airport Services Market Scope :

The Global Airport Services Market Is Anticipated To Record A Growth Rate Of Close To 6.5% During The Forecast Period, Which Is From 2019 To 2025, Says Market Research Future (MRFR).

The worldwide airport service industry is brimming with a lot of promise, with a host of opportunities lying in cargo handling, aircraft handling, and hospitality event services. The market is striving to reach greater heights on the back of surging air passenger traffic, upcoming new airports, along with the widening of new domestic and regional routes within the aviation sector.

Some of the top trends that can shape the dynamics of the airport service industry include the mounting use of artificial intelligence in the air transport industry, emergence of green gates to curb emissions, introduction of virtual technology to enhance customer service, and growing usage of smartphone apps among passengers for schedule planning.

Other prominent factors are stimulating market growth are new airports cropping up in developing regions, modernization of current airports, advancements in commercial aviation, and the surge in green initiatives by governments. The airport services are offered in order to enhance the systems as well as processes that function digitally. Over the years, there have been a number of developments as well as commercialization of modern technologies undertaken by airport service providers. These developments have boosted services like machine-driven arrival, baggage and document checks and flight booking management.

Airport Services Market Segmentation

The primary segments as per which the global airport services market has been analyzed in the MRFR report include service type and airport type.

Considering the service type, the market has been narrowed down to hospitality event services, cargo handling services and aircraft handling and related services. The aircraft handling and related services segment consist of runway maintenance, ramp services, and others. Further, the hospitality event services segment comprises passenger parking fields, catering services, baggage handling services, and others. Also, the cargo handling services segment covers ground support and cargo operations services. Among all these, the hospitality event services segment led the market in the year 2018 and has the potential to achieve the highest growth rate in the years to come.

Depending on the airport type, the airport services market caters to military/federal government airports, private airports, and civil airports. In the year 2018, the civil airport segment was at the top position in the worldwide market and is touted to attain the maximum CAGR during the given timeframe.

Airport Services Market Regional Insight

The worldwide airport services market has been extensively analyzed on the basis of regions like Europe, Latin America the Middle East & Africa (MEA), North America, and Asia Pacific (APAC).

In 2018, the most profitable market for airport services had been North America, thanks to the soaring demand for smart airports, especially in the United States (US) and Canada. High disposable income of the people in the region has given a boost to the air passenger traffic, which is prompting leading airport services vendors to come up with advanced airport technologies.

The APAC market for airport services, on the other hand, can note strong growth over the review period. The region boasts of a large number of renowned companies like Japan Airport Terminal Co., Ltd. among others that are striving to give stiff competition to their rivals in the market. Rapidly growing air traffic in China also works in favor of the market in the region. Similarly, the booming aviation industry in India coupled with the rising entry of various aircraft also benefits the market. The International Air Transport Authority (IATA) estimates that India stands as the ninth-largest aviation industry in the world and is expected to grow further in the coming years.

The MEA market for airport services is believed to observe strong growth in the near future, on account of the increasing aircraft deliveries and the surge in the disposable income of people in the region.

Global Airport Services Market Research Report: Information by Service Type (Aircraft Handling and Related Services [Ramp Services,     Runway Maintenance and others], Hospitality Event Services [Baggage Handling Services, Catering Services, Passenger Parking Fields and others] and Cargo Handling Services [Cargo Operations and Ground Support Services]), Airport Type [Civil Airports, Military/Federal Government Airports and Private Airports] and Region (North America, Europe, Asia-Pacific, the Middle East & Africa and Latin America) - Forecast till 2025@ https://www.marketresearchfuture.com/reports/airport-services-market-8395