An increase in the international passenger traffic and need for better airport facilities is expected the growth in the global airport infrastructure Market
Covid-19 Impact & Market Status
The report offers an exhaustive overview of the business dynamics and new investment strategies that are being adopted by business leaders across countries and regions to overcome the acute challenges and financial instabilities that have emerged in the post-pandemic times.
The report highlights some of the best industry strategies and practices that are adopted by the players across local and global markets. Ever since the Covid-19 broke out in 2019, it has spread aggressively, resulting in the rapid declaration by the WHO affirming Covid-19 as a global pandemic and an emergency.
The impact of the pandemic is widespread and the aftermath is well pronounced, gravely affecting the aviation industry. The sudden pandemic and its implications have posed significant challenges such as travel bans, quarantines, and lockdowns.
Governments have banned international travellers to enter their country due to an increase in the chances of the covid spread. However, relaxation is been given to domestic travelers. Still, in some countries, international passengers are not allowed to enter.
The report delivers a quick ready-to-deploy approach to counter such crisis and steer the aviation sector towards steady growth and systematic progression.
Amidst the pandemic, aligning with new dynamics, the global airport infrastructure market has been witnessing new dynamics which are further necessitating new business models and approaches to recoup growth and revenue streams.
In this report, inquisitive business players would be provided with sufficient guidelines regarding business transformation, integral to sustain stiffening competition in the pandemic and beyond pandemic era global airport infrastructure market.
International Airport Segment to Sustain the largest Revenues, Followed by Domestic
The international airport segment is expected to be the largest and dominating segment in the forecast period owing to the rise in international passenger traffic. The growth of international passengers is seen from the regions like Asia-pacific, Europe, and the Middle East.
The domestic airport segment is anticipated to be the fastest-growing segment. The impact of covid-19 is severe on the international passengers as the government of many countries has banned the entry of international passengers in their country, these restrictions are been removed for the domestic passengers. Hence the domestic airport segment is expected to recover fast in the coming years.
Greenfield Airport Type Segment to be the Most Lucrative
Greenfield airports are expected to anticipate market growth during the forecast period. It is expected to maintain its position due to the growing need for internationally benchmarked airports. Brownfield airports are going to lead the market due to the modernization and up-gradation of airports.
The aeronautical services segment is anticipated to be the largest segment of the market
Aeronautical services are further divided into aircraft handling services, passenger services, and aircraft maintenance services. Aircraft handling services include landing services, parking services, others. Passenger services include security service, transit service, others. North America accounts for the highest market share in the aircraft ground handling service segment.
APAC to Sweep the Largest Revenue Streams Followed by North America
Asia Pacific region is a lucrative regional market for the global Airport Infrastructure market. It is expected to dominate the market and will remain the largest region owing to the increase in air passenger traffic. As countries such as China is expected to develop their aviation sector in the United States. But the sudden outbreak of pandemics has decreased its economy in the first quarter of 2020.
India is predicted to become one of the third-largest aviation markets during the forecast period because of the increase in business travel and tourism in the country. The United States is anticipated to be one of the second largest market segments during the forecast period owing to the increase in the investments for the development of the airport infrastructure and ease of the government rules and regulations for airport services.
Various initiatives and government investment undergoing for the development and advancement of the airport in the developing and developed countries offering new opportunities in the global airport infrastructure market
The airport infrastructures are the materials/objects required for the smooth movement of the aircraft around the airport. Infrastructure includes aircraft parking aprons, taxiways, airfield lights and signs, navigational and visual aids, and runways.
It includes all the grounded facilities needed for the smooth functioning of the airport with all the appropriate levels of safety, reliability, and economy. The two main elements of those facilities are airports and air navigation services.
Airport passenger traffic and the number of aircraft handled by the airports around the world are increasing every year as more passengers are adopting air transportation as a means of traveling option as it saves time leading to the airport terminals becoming remarkably crowded.
As the number of passengers is increasing, there is an increasing need to expand and develop the existing airport infrastructure, constructed to cater to the future growth of the airport traffic.
Despite a minor growth dip owing to Covid-19 implications, the global airport infrastructure market is expected to recoup growth and register over USD 230 billion by 2028 ticking at a CAGR of 10.2%.
Further, advances in the airport infrastructure such as improved runways, navigation signals, proper security services, check-in, check-out facilities, others, are expected to ravel new growth opportunities in the global airport infrastructure market during the forecast period.
The existence of proper infrastructure plays an important role as infrastructure has a direct relationship with the overall economic functioning of the surrounding area.
Forward-looking players in the global airport infrastructure market are collaborating with the government for the advancement and building of new airports in cities.
The major players of the global airport infrastructure market are Hensel Phelps Construction Co., Turner Construction Company, Skanska AB, Austin Commercial, Aecom, Manhattan Construction Group, Crisdel Group, Inc. Clark Construction Group, LLC Vecellio, and VRH Construction among others.
The airport infrastructure market is a rapidly progressing industry and is characterized to have industrial frontliners as well as aspiring new players aiming to penetrate the aggressive competitive landscape across global and local markets. Additionally, various new and aspiring players are improving their product lines and upgrading technological capabilities to improve revenue streams amidst the Covid-19 impact.
Latest Innovations in the Global Airport Infrastructure Market: a Snapshot
- In September 2019, to serve passengers with ground equipment (GSE) maintenance services at more than 80 airports in the United States, prime flight aviation services acquired global aviation services, LLC.
- Etihad Cargo has renewed its global cargo handling contracts with worldwide flight services with Madrid and Frankfurt by joining six existing gateways in Asia, Europe, and the United States. Under this contract, WFS has to deliver warehouse, cargo handling, and aircraft services to the Etihad cargo.
Airport Infrastructure Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 230 billion|
|Growth Rate||CAGR of10.2% during 2021-2028|
|Segment Covered||Type, Infrastructure, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Hensel Phelps Construction Co., Turner Construction Company, Skanska AB, Austin Commercial, Aecom, Manhattan Construction Group, Crisdel Group, Inc. Clark Construction Group, LLC Vecellio, and VRH Construction among others.|
Key Segments of the Global Airport Infrastructure Market
Type Overview, 2018-2028 (USD Billion)
Infrastructure Overview, 2018-2028 (USD Billion)
- Greenfield airport
- Brownfield airport
Application Overview, 2018-2028 (USD Billion)
- Aeronautical services
- Non-aeronautical services
- Repair and Overhaul (MRO) Facilities
- Airport Terminal
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa