According to a new market report published by Lucintel, the future of the airport service industry looks promising with opportunities in the hospitality event, cargo handling, and aircraft handling services. The airport service industry is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $206.9 billion by 2025 with a CAGR of 1% to 3% from 2020 to 2025. The major growth drivers for this market are rising air passenger traffic, opening of new airports, and expansion of new domestic and regional routes in the aviation market.
Browse 87 market data tables and 111 figures spread through 190 pages and in-depth TOC on “Airport Service Market"
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Within this market, hospitality event, cargo handling, and aircraft handling are the major service segments. On the basis of its comprehensive research, Lucintel forecasts that the hospitality event and cargo handling services segments will show above average growth during the forecast period.
Europe is expected to remain the largest region due to the new Open Skies regulations, which ensure more flights in and out of Europe and also removes air-service limitations between the countries, helping to drive tourism and the airport service industry. Asia Pacific is expected to witness significant growth over the forecast period because of rising passenger traffic.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing trends of artificial intelligence in the air transport industry, introducing green gates to reduce emissions, introducing virtual technology to improve customer service, and increasing use of smartphone apps to helps the passenger for schedule planning. The major service providers in the airport service industry are Fraport Frankfurt Airport Services, Aeroports de Paris, Japan Airport Terminal, BBA Aviation, Beijing Capital International Airport, Tav Havalimanlari Holding, Sats, Auckland International Airport Limited, Flughafen Wien , and Malaysia Airports Holdings Berhad.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the airport service industry by service type and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Airport Service Industry 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the airport service industry by service type and region, as follows:
By Service Type ($ Billion from 2014 to 2025)
Hospitality Event Services
Baggage Handling Services
Catering Services
Passenger Parking Fields
Retail and Duty-Free Services
Special Passenger Care Services
Training
Security Services
Cargo Handling Services
Cargo Operations
Ground Support Services
Aircraft Handling and Related Services
Ramp Services
Runway Maintenance
Operation of Fueling
Aircraft De-icing
Others
Other Services
Cabin Cleaning and Sanitary Services
Real Estate Development
Others
By Region ($ Billion from 2014 to 2025)
North America
Europe
Germany
France
Russia
United Kingdom
Asia Pacific
The Rest of the World
This 190-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/airport-service-market.aspx or helpdesk@lucintel.com.
About Lucintel
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