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Lucintel identifies and prioritizes opportunities for growth in the airport service industry by service type and region

12-22-2016 08:36 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Lucintel

Insights that Matter

Insights that Matter

According to a new market report published by Lucintel, the future of the global airport service industry looks attractive with opportunities in the cargo handling, hospitality services, and aircraft handling services. The global airport service industry is forecast to grow at a CAGR of 5.2% from 2015 to 2020. The major drivers of growth for this market are increasing passenger traffic, and growth in airline and tourism industry.
In this market, hospitality event services, cargo handling services, and aircraft handling services are some of the major segments. On the basis of its comprehensive research, Lucintel forecasts that the cargo handling service, hospitality event service, and aircraft handling service segments are expected to show above average growth during the forecast period.
Within the global airport service industry, the hospitality event service segment is expected to remain as the largest market. An improvement in the global economy, rise in consumer spending, an increase in travel and tourism, and growth in air passenger traffic are expected to spur growth for this segment over the forecast period.
Europe is expected to remain the largest market due to the adoption of open skies policy and increasing tourist’s arrival.
Asia Pacific and Rest of the World are expected to witness significant growth over the forecast period because of expansion of airport terminals, setting up of new airports, and increasing passenger traffic.
For market expansion, the report suggests development of new and value added service to enhance the performance of airport services. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost services for customers.

Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of virtual technology to improve the customer service, emergence of hybrid check-in system, and increasing use of smartphone apps to provide passengers with enhanced and quality services in emerging markets. Fraport Frankfurt Airport Srvc Wrldwd AG, Aeroports de Paris SA, Japan Airport Terminal Co. Ltd., Singapore Airport Terminal Services Ltd., and BBA Aviation plc are the major service providers in the global airport service industry. Some companies are opting for merger & acquisition as strategic initiatives for driving growth.

Lucintel, a leading global strategic consulting and market research firm, has analyzed the airport services industry by service type, and region and has come up with a comprehensive research report, “Global Airport Service Industry 2015-2020: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategies, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the airport service industry through 2020, segmented by service type and region as follows:

By service type ($ billion from 2009 to 2020):
• Hospitality Events Services
• Cargo Handling Services
• Aircraft Handling and Related Services
• Others

By region ($ billion from 2009 to 2020):
• North America
• Europe
• Asia Pacific
• Rest of the World
• Rest of World
This 120-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 helpdesk@lucintel.com. Lucintel offerings include Aerospace Report, Defense Market Report, Opportunity Screening and Analysis, Capital Investment Analysis and SWOT Analysis.
About Lucintel
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, 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
222 Las Colinas Blvd West, Suite 1650, Irving, TX 75039, USA
Ph: +1-972-636-5056 Fax: +1-877-883-5140
marketing@lucintel.com

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