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Airport Services Market to Hit USD 290.23 Billion by 2029; Development of Advanced Airport Infrastructure and Services to Fuel Market Growth

May 13, 2022 | Aerospace & Defense

The global airport services market size is predicted to reach USD 290.23 billion by 2029. Fortune Business InsightsTM, in its report titled, “Airport Services Market Size, Share & COVID-19 Impact Analysis, By Airport Type (International and Domestic), By Application (Aeronautical Services and Non-Aeronautical Services), By Infrastructure Type (Greenfield Airport and Brownfield Airport), and Regional Forecast, 2022-2029”, observes that the market size stood at USD 89.87 billion in 2021 and USD 97.87 billion in 2022, and is projected to register a CAGR of 16.80% between 2022 and 2029. The incorporation of advanced technologies such as machine learning and artificial intelligence for modern airport services is predicted to fuel the market’s expansion in the upcoming years.


The aviation industry suffered a major setback from the COVID-19 pandemic. The suspension of numerous international and domestic flights due to strict restrictions implemented by the governments of various economies has impacted the market growth. The drop in air travel and passenger traffic affected the market growth. The ban on global air travel affected regional markets, and the layoffs in the aviation industry aggravated the situation. Nonetheless, the uplift of these restrictions and resuming air travel activities are helping the market recover and expand.


Hainan Airlines’ New Contract for Ramp Handling with Worldwide Flight Services (WFS) to Stimulate Market Expansion


In March 2022, Hainan Airlines signed a new contract for ramp handling with WFS at Seattle-Tacoma International Airport. WFS will be providing unloading and loading of three to five weekly passenger freighter services for the Chinese airline. Moreover, WFS will also be providing GPU, water, lavatory, and crew shuttle services for the airline.


Adoption of Advanced Technologies to Bolster Market Expansion


The aviation industry is always growing. The development of new airports and refurbishment/renovation activities of prevalent airport infrastructures are expected to lift the global airport services market growth. The aviation industry is progressing and the embracing of advanced technologies such as machine learning (ML) and AI-powered devices and robots is anticipated to offer lucrative growth opportunities for the market.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/airport-services-market-102855


Key Players Adopt Contracts to Amplify Growth


The prominent players in the market put emphasis on integrating cutting-edge technologies to improve their offerings. The major market players adopt ingenious strategies, including expansions, acquisitions, contracts, mergers, partnerships, collaborations, and others to magnify their global reach.  For instance, Worldwide Flight Services prolonged its cargo handling contract with Turkish Airlines in February 2022.


List of Key Industry Players-



  • Airports de Paris SA (France)

  • Celebi Aviation (Turkey)

  • Tokyo International Air Terminal Corporation (Japan)

  • Signature Aviation Plc (U.K.)

  • Acciona (Spain)

  • LHR Airports Limited (U.K.)

  • S.A.S. Services Group Inc. (U.S.)

  • Worldwide Flight Services (France)

  • dnata (UAE)

  • Air General Inc. (U.S.)

  • Fraport AG Frankfurt Airport Services Worldwide (Germany)

  • Beijing Capital International Airport Co. Ltd. (China)


Further Report Findings-



  • North America dominated the global airport services market share in 2021. The gigantic numbers of passenger traffic, coupled with the key players, including S.A.S Services Group and Air General Inc. present in the region is expected to boost the region’s market growth.

  • According to the segmentation based on application, the aeronautical services segment is anticipated to witness the highest growth in the market.


Table of Segmentation-















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD Billion)



Segmentation



By Airport Type



  • International

  • Domestic



By Application



  • Aeronautical Services

    • Aircraft Ground Handling Services

    • Aircraft Maintenance Service

    • Passenger Service



  • Non-Aeronautical Services

    • Baggage Handling Services

    • Car Rental Service

    • Car Parking Service

    • Food and Beverage Service

    • Retail Service

    • Others





By Infrastructure Type



  • Greenfield Airport

  • Brownfield Airport



By Geography



  • North America (Airport Type, Application, Infrastructure Type, and Country)

    • U.S. (By Application)

    • Canada (By Application)



  • Europe (Airport Type, Application, Infrastructure Type, and Country)

    • U.K. (By Application)

    • Germany (By Application)

    • France (By Application)

    • Italy (By Application)

    • Spain (By Application)

    • Rest of Europe (By Application)



  • Asia Pacific (Airport Type, Application, Infrastructure Type, and Country)

    • China (By Application)

    • India (By Application)

    • Japan (By Application)

    • Australia (By Airport Type)

    • Rest of Asia Pacific (By Application)



  • Rest of the World (Airport Type, Application, Infrastructure Type, and Country)

    • Latin America (By Application)

    • Middle East & Africa (By Application)




Airport Services Market
  • PDF
  • 2021
  • 2018-2020
  • 241

    CHOOSE LICENSE TYPE

  • 4850
    5850
    7850

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