The global Airport Operations Market was valued at $7.7 billion in 2021, and is estimated to reach $13.8 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.
Rise in investments to support brown filed and green field airport operations, increase in passenger traffic, and surge in adoption of new technologies that support automation & self-services drive the growth of the global airport operations market. However, the threats of cyber-attacks and data breach restrain the market growth. On the other hand, the adoption of total airport management (TAM) systems to handle the air traffic creates new opportunities in the coming years.
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Based on region, Asia-Pacific contributed to the highest market share in terms of revenue in 2021, accounting for around two-fifths of the global airport operations market, and is expected to maintain its dominance in terms of revenue by 2031. Moreover, this segment is projected to manifest the fastest CAGR of 6.8% during the forecast period. This is attributed to surge in spending, living standards, and domestic travel in this area. The research also analyzes regions including North America, Europe, and LAMEA.
By airport class, the class B segment is expected to witness the highest growth rate within the forecast period. By operation, the landside operation segment incurs the higher share within the market segment. By platform, the software segment is expected to hold highest growth rate during the forecast period. By airport category, the commercial service airport holds majority of market share in 2021. At present, Asia-pacific is the highest revenue contributor and is expected to garner the highest revenue in the global cloud seeding market during the forecast period, followed by North America, Europe, and LAMEA.
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The airport operations market holds a great potential over the coming years backed by the rise in inflight passenger demand and efforts by airline and airport operators to optimize their processes to increase efficiency and reduce cost. The rise in dependency on new technologies to streamline processes and trend toward self-service and automation are identified as major business accelerator within the forecast timeframe. The post pandemic situation where individuals across the globe are more inclined toward traveling and returning to their normal routine, aviation industry is experiencing a business surge. The total number of passenger across the globe surged by 65% between January to April 2022, as compared to 2021, followed by increase in airline seat capacity by 32%.
Factors such as increase in investment to support brown filed and green field airport operations, rise in passenger traffic across the globe, and adoption of new technologies supporting automation and self-services. The COVID-19 is having a notable impact on airport operations market and have shifted the business dynamics within the forecast timeframe. Currently majority of airports are focused toward reducing their operational cost, increase operational efficiency and reduce their carbon footprint. For instance, In June 2022, the Delhi International Airport Limited (DIAL) announced acquisition of 62 electric vehicles that is anticipated to optimize their airside operations. The electric vehicles is anticipated to be gradually induced within three to four months and reduce approximately 10,000 tons of greenhouse emissions per annum.
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KEY FINDINGS OF THE STUDY In Airport Operations Market
- By airport class, the class B segment leads the market during the forecast period.
- By operation, the landside operation segment leads the market during the forecast period.
- By platform, the software segment is expected to grow at lucrative growth rate during the forecast period (2022-2031).
- By airport category, the reliever airport segment leads the market during the forecast period.
- Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
Leading Market Players
Cisco Systems, Inc.
Honeywell International Inc.
IBM
Indra
QinetiQ
Raytheon Technologies Corporation
Siemens
SITA
Teledyne Technologies Incorporated
Thales
Daifuku Co., Ltd.
Damarel Systems International Ltd.
Amadeus IT Group
Inform GmbH
Aena
Huawei Technologies Co., Ltd.
ES Mobility
