Airport Services Market is set to grow at a 6.5% CAGR over the Projected Period, Global Airport Services Market Research Report by Service Type, Airport Type and Region | Airport Services Industry – News and Updates
Market Highlights
The growth of the global Airport Services Market can be attributed to the increasing modernization of existing airports, developments in commercial aviation, and the establishment of new airports. The global market has been segmented on the basis of service type, airport type, and region.
Based on service type, the global airport services market has been divided into aircraft handling and related services, hospitality event services, and cargo handling services. The hospitality event services segment is expected to account for the largest share of the global market and register the highest CAGR between 2019 and 2025. The rising number of smart airports and use of digital-based services at smart airports are expected to boost the growth of the hospitality event services segment during the forecast period.
In terms of airport type, the market has been divided into civil airports, military/federal government airports, and private airports. The civil airports segment dominated the market in 2018 and is expected to register the highest CAGR during the forecast period due to advanced facilities, such as baggage handling and cargo handling, provided by the airport authorities.
Based on region, the global airport services market has been classified as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific was a key region for this market in 2018. The presence of various airport service providers such as Beijing Capital International Airport Co., Ltd, SATS Ltd, and Malaysia Airports Holdings Berhad is propelling the market growth in the region. However, the market in Europe is expected to register the highest CAGR during the forecast period due to the growing demand for airport services such as baggage handling services and runway maintenance. Additionally, increasing passenger traffic at airports in countries such as the UK and Germany is boosting the market growth in the region.
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Key Players
The key players in the global airport services market are Fraport Frankfurt Airport Services (Germany), Aeroports de Paris SA (France), Tav Havalimanlari Holding AS (Turkey), Japan Airport Terminal Co., Ltd (Japan), BBA Aviation plc (UK), Beijing Capital International Airport Co., Ltd (China), SATS Ltd (Singapore), Auckland International Airport Ltd (New Zealand), Flughafen Wien AG (Austria), and Malaysia Airports Holdings Berhad (Malaysia).
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