The global airport service industry is expected to grow at a CAGR of 5.2% from 2015 to 2020. The major drivers of this industry are reviving airline and tourism sector and increasing penetration of low cost carriers in the developing countries.
(TRAVPR.COM) TX - June 19th, 2015 - The global airport service industry is expected to grow at a CAGR of 5.2% from 2015 to 2020. The major drivers of this industry are reviving airline and tourism sector and increasing penetration of low cost carriers in the developing countries. Expansion of domestic and regional routes in the aviation market, a strong economic growth, and rising air passenger traffic increase the demand for airport services. The European region dominates the industry with 39.8% of the global airport service industry due to an increase in the number of international tourist arrivals.
Lucintel, a leading global management consulting and market research firm, has analyzed the airport industry by region and service type and has come up with a comprehensive research report, “Global Airport Service Industry 2015-2020: Trends, Forecast, and Opportunity Analysis.” This aerospace report provides an analysis of services in the global airport industry, including the market trends, growth opportunities, key drivers, and emerging trends in the industry. The study also includes the forecast for the global and regional airport service industry through 2020, segment breakdown by region and service type as follows:
By region-
· North America
· Europe
· Asia Pacific
· Rest of the World
By service-
· Hospitality Event Service
· Cargo Handling Service
· Aircraft Handling and Related Service
· Other
On the basis of its comprehensive research, Lucintel forecasts that the hospitality event service segment and the cargo handling service segment are expected to depict above average growth during the forecast period. Continuous growth in low cost carriers is allowing more customers to use the air mode of transportation for both passenger and cargo, which is expected to boost the demand of hospitality and cargo handling services in the forecast period.
APAC and ROW are expected to witness an above average growth during the forecast period. Various investments in the aviation sector, such as setting up new airports, increasing the area of terminal buildings, and the development of the private jet business in countries, such as China, India, and Brazil is anticipated to boost the passenger flow, simultaneously enhancing the demand for airport services in the forthcoming period.
Fraport AG Frankfurt Airport Srvc Wrldwd, Aeroports de Paris SA, BBA Aviation plc, Sats Ltd, and Japan Airport Terminal Co., Ltd. are some of the major players of the airport services. The industry players are opting for M& A, innovation, and new product development as well as expansion for growing their businesses. Emerging trends which has a direct impact on the dynamics of the industry include increasing trends towards Airport Public Private Participations (PPPs) in emerging markets, introduction of virtual technology to improve customer service, and increasing use of smartphone apps and hybrid check-in system.
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 click on this link http://www.lucintel.com/reports/aerospace_defense/global_airport_service_industry_2015_2020_trends_forecast_and_opportunity_analysis_june_2015.aspx orhelpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity screening, strategic 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.
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