Opportunities for the global airport service industry to reach $211.5 billion by 2023

According to a new market report published by Lucintel, the future of the global airport service industry looks promising with opportunities in the hospitality event, cargo handling, and aircraft handling services. The global airport service industry is expected to reach an estimated $211.5 billion by 2023 and it is forecast to grow at a CAGR of 4.2% from 2018 to 2023. 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.

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 global airport service industry are Fraport Frankfurt Airport Services Worldwide, Aeroports de Paris SA, Japan Airport Terminal Co. Ltd, BBA Aviation plc, Beijing Capital International Airport Co., Ltd, Tav Havalimanlari Holding A.S, Sats Ltd, Auckland International Airport Limited, Flughafen Wien AG, and Malaysia Airports Holdings Berhad.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global airport service industry by service type and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Airport Service Industry 2018-2023: 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 global airport service industry by service type and region, as follows:

By Service Type ($ Billion from 2012 to 2023):
• Hospitality Event Services
o Baggage Handling Services
o Catering Services
o Passenger Parking Fields
o Retail and Duty-Free Services
o Special Passenger Care Services
o Training
o Security Services

• Cargo Handling Services
o Cargo Operations
o Ground Support Services

• Aircraft Handling and Related Services
o Ramp Services
o Runway Maintenance
o Operation of Fueling
o Aircraft De-icing
o Others

• Other Services
o Cabin Cleaning and Sanitary Services
o Real Estate Development
o Others

By Region ($ Billion from 2012 to 2023):
• North America
o US
o Canada
o Mexico

• Europe
o Germany
o France
o Russia
o United Kingdom

• Asia Pacific
o China
o Japan
o India

• The Rest of the World
o Brazil
o Argentina
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 email us at helpdesk@lucintel.com. Lucintel offerings include Aerospace Report, Defense Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Matrix.

This report answers the following 11 key questions:
Q.1. What are some of the most promising, high growth opportunities for the airport service industry by service type [hospitality event services: (catering services, special passenger care services, passenger parking field, retail and duty-free, training, security services, and baggage handling segments), cargo handling services: (cargo operations and ground support services segment), aircraft handling and its related services: (operation of fueling, ramp services, runway maintenance, aircraft de-icing and others segment), and other services: (cabin cleaning and sanitary services, real estate development, and others)], and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing services in this market and how big of a threat do they pose for loss of market share by service substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Lucintel LLC
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Ph: +1-972-636-5056 Fax: +1-877-883-5140
marketing@lucintel.com

This release was published on openPR.