(MENAFN- EIN Presswire) EINPresswire/ -- What Is The Expected Cagr For The Airport Operations Market Through 2025?
There has been significant growth in the airport operations market size in recent years. It is projected to expand from $6.53 billion in 2024 to $7.18 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 9.8%. Factors such as the rise in global demand for air travel, an expansion in the size of airline fleets, an escalation in international trade and cargo, airport infrastructural development, government funding for airport modernization, and an increase in low-cost carriers leading to enhanced passenger volumes can explain the growth during the historic period.

In the coming years, the airport operations market size is predicted to experience a swift expansion, reaching $10.51 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 10.0%. This predicted growth during the forecasted period is due to factors such as the increase of smart technology usage for operational effectiveness, a rise in passenger traffic, e-commerce development which increases air cargo demand, increased investments in modernizing airport infrastructure, and the proliferation of low-cost carriers that enhance the accessibility of air travel. Noteworthy trends during this projected period include the application of biometric authentication for efficient passenger processing, the use of AI for predictive maintenance of aircraft and infrastructure, the application of IoT-enabled smart baggage tracking systems, the implementation of advanced air traffic management systems for improved efficiency, and the use of blockchain for secure data sharing and cargo tracking.

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What Are The Key Factors Driving Growth In The Airport Operations Market?
The growth of the airport operations market is predicted to be driven by the growing volume of passenger traffic. The term passenger traffic relates to the transportation of people by air, land, or sea, and is gauged over a designated time period. The heightened degree of passenger traffic is attributable to aspects like economic progression, augmenting demand for travel, reasonable flight fares, and enhanced connectivity. With the escalation in passenger traffic, efficient airport operations become a necessity to handle the heightened requirement for services which includes check-ins, security measures, baggage management, and comprehensive utilization of infrastructure. For instance, as per the forecast from the Airports Council International (ACI), a Canadian organization of airport authorities, the global passenger traffic is likely to surpass the levels prior to the pandemic, hitting 9.5 billion in 2024, and exceeding 12 billion by 2030. Comparing with the levels in 2024, it is expected to double to 19.5 billion by 2042. Hence, the growth of the airport operations market is being spurred by the increasing passenger traffic.

What Are The Top Players Operating In The Airport Operations Market?
Major players in the Airport Operations include:
. Siemens AG
. Honeywell International Inc.
. Collins Aerospace
. Thales S.A.
. Adani Enterprises Limited
. AECOM Technology Corporation
. Envoy Air Inc.
. Amadeus IT Group SA
. Aena S.M.E. S.A.
. Daifuku Co. Ltd.

What Are The Major Trends That Will Shape The Airport Operations Market In The Future?
Corporations that are significant players in the airport operations sphere are placing a high emphasis on technological progression, including the incorporation of artificial intelligence (AI), to boost efficiency, simplify procedures, and upgrade passenger flow. Artificial intelligence (AI) represents the emulation of human intelligence carried out by machines that allow them to acquire knowledge, rationalize, and make choices. For instance, GMR Airports Limited, a construction firm based in India, in December 2024, inaugurated an AI-integrated digital twin platform at Rajiv Gandhi International Airport in Hyderabad. This platform amalgamates real-time data from airside, landside, and terminal operations into a consolidated system, exploiting advanced technologies like artificial intelligence, real-time analytics, and IoT. The goal is to enrich decision-making, simplify airport operations, and enhance passenger experiences by mitigating congestion, minimizing delays, and bolstering security.

Comprehensive Segment-Wise Insights Into The Airport Operations Market
The airport operationsmarket covered in this report is segmented –

1) By Platform: Hardware, Software, Service
2) By Airport Operation: Terminal Infrastructure Maintenance And Upgrade, Passenger Screening, Catering And Quick Service Restaurants, Smart Technologies, Baggage Screening, Aircraft Maintenance, Repair, And Overhaul
3) By Airport Size: Class A, Class B, Class C, Class D
4) By Airport Category: Commercial Service Airports, Cargo Service Airports, Reliever Airports, General Aviation Airports

Subsegments:
1) By Hardware: Air Traffic Control Systems, Baggage Handling Systems, Security Screening Equipment, Passenger Boarding Bridges, Ground Support Equipment
2) By Software: Airport Management Software, Flight Information Display Systems (FIDS), Passenger Processing Systems, Airport Security And Surveillance Software, Air Traffic Management Software
3) By Service: Maintenance And Repair Services, Airport Security Services, Ground Handling Services, IT And Consulting Services, Passenger Assistance Services

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Global Airport Operations Market - Regional Insights
In 2024, North America led the way as the biggest region in the airport operations market. It's projected that the quickest expansion will be in the Asia-Pacific region during the projected period. The report on the airport operations market includes data from regions such as North America, Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.

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