(MENAFN- America News Hour) Airport Operations Market:
which delivers a detailed overview of the airport operations market in terms of market segmentation by technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter's five force model.
Owing to the severe outbreak of COVID-19 across the world, many countries have gone into lockdowns leading to a tailspin in the aviation industry, severely impacting the airport operations. As airports are the main point of entry and exit in most countries, it plays a vital part in handling health emergencies.
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The
airport operations market
is anticipated to achieve a notable CAGR during the forecast period, i.e., 2020-2028. The market is segmented by technology and region. Among technologies, the smart biometric solutions segment is expected to grow at a significant rate owing to the current situation of a global pandemic which has risen the demand for smart screening systems. Also, technology-driven systems at airports have enhanced customer service, reduced operational costs, and increased profits of airlines as well as airports.
Regionally, the airport operations market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America is projected to hold the largest market share on account of growing air tourism which is attributable to growing revenue and overall economic development in the region, which is why the market is severely hit by the travel bans imposed by the government in support of COVID 19 preventive measures.
Europe is the second-largest region for the global airport operations market owing to large passenger traffic coming to or from Europe. Since the pandemic sparked in the region four months ago, the European markets are struggling very hard to gain back their momentum.
The Asia-Pacific region is projected to observe a decline in market shares over the forecast period on account of a sharp increase in COVID 19 cases, which has halted the booming tourism industry in India and China. China being the origin of the virus, is facing a major socio-economic crisis.
The rise in demand for safer screening and management systems projected to fuel the market growth
Airports with technologies such as biometric solutions, thermal imaging, fever detection scanners, disinfecting cleaners, rapid testing for COVID 19, and others, can cope with the COVID-19 outbreak better. Demand for smart passenger screening solutions is projected to rush post the COVID-19 pandemic in the long term, as airports will struggle to maintain vigilance levels.
However, the increasing cessation in international travel due to the outbreak of the COVID-19 pandemic is limiting the overall growth of the market in the foreseeable future.
Major players include in the global Airport Operations market:
SABRE GLBL INC., Amadeus IT Group SA (BME: AMS), SITA (BOM: 512589), Honeywell International Inc. (NYSE: HON), Siemens AG (ETR: SIE), Thales Group (EPA: HO), Collins Aerospace, FLIR(R) Systems, Inc. (NASDAQ: FLIR), Fluke Corporation, Daifuku Co., Ltd. (TYO: 6383).
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the airport operations market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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