Saurashtra News

COVID-19 Impact on Airport Operations Market worth $14.5 billion by 2025 | CAGR of 11.0%

 Breaking News
  • No posts were found

COVID-19 Impact on Airport Operations Market worth $14.5 billion by 2025 | CAGR of 11.0%

August 06
07:40 2020
COVID-19 Impact on Airport Operations Market worth $14.5 billion by 2025 | CAGR of 11.0%

COVID-19 Impact on Airport Operations Market
COVID-19 Impact on Airport Operations Market by Technology (Passenger Screening, Baggage Scanners, Smart Tag & RFID, E-gate & E-Kiosk, 5G infrastructure, Cybersecurity Solutions and Ground Support Equipment) and Region

Post COVID-19, the COVID-19 Impact on Airport Operations Market by Technology (Passenger Screening, Baggage Scanners, Smart Tag & RFID, E-gate & E-Kiosk, 5G infrastructure, Cybersecurity Solutions and Ground Support Equipment) and Region – Global Forecast to 2025″ is estimated to grow from USD 8.5 billion in 2020 and projected to reach USD 14.5 billion by 2025, at a CAGR of 11.0%. The projection for 2025 is estimated to be lower than pre-COVID-19 estimates. The rise in demand for air cargo activity is resulting in airline operators converting their passenger aircraft into cargo aircraft with an aim to get new revenue sources and ensure company sustainability. This is expected to help airport operators generate revenue from aeronautical charges, leading to an increase in cash liquidity. A major factor that is driving the growth of the airport operation market is the increasing demand for smart passenger screening and management systems across the globe.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=172662604

FLIR Systems (US), Honeywell (US), SITA (Switzerland), Collins Aerospace (US), Siemens AG (Germany), Fluke Corporation (US), Thales Group (France) Daifuku Co., Ltd. (Japan), Amadeus IT Group (Spain), among others are some of the leading players operating in the airport operations market. These players have adopted growth strategies such as new product developments, contracts, partnerships, agreements, collaborations, and acquisitions to expand their presence in the market further.

Browse 27 market data Tables and 30 Figures spread through 85 Pages and in-depth TOC on “COVID-19 Impact on Airport Operations Market – Global Forecast to 2025”

COVID-19 Impact on Airport Operations Market

“Passenger screening to hold a significant market share in 2020.”

The passenger screening segment is expected to hold a significant share in the airport operation market in 2020. The passenger screening segment is expected to grow at a slow pace from Q2 2020 to Q1 2021. It is likely to increase from Q2 2020, post-COVID-19, due to a rise in the adoption of thermal scanners at airports.

Thermal imaging equipment manufacturers are witnessing a spike in demand for scanners from airports, railway stations, and public areas looking for fever screening systems. This demand can be attributed to the effectiveness of thermal scanner devices during the SARS and H1N1 crises. Not only airports but also airlines are procuring thermal imaging scanners to screen their passenger, pilots, and staff.

“Asia Pacific to hold a largest share in the global airport operation market during the forecast period.”

The Asia Pacific region holds a largest market share in the aircraft operation technologies industry. The ACI World Airport Traffic Forecasts 2019–2040 predicts USD 12.4 billion in revenue for the first quarter of 2020 in the Asia Pacific region under normal conditions. The impact of COVID-19 is projected to lead to a revenue loss of USD 3 billion. The shortfall in the number of passengers and the cancellation of flights have led to reduced revenues from airport charges such as landing & parking charges paid by airlines and passenger service & security charges paid by passengers. While aeronautical revenues are drying up, the cost base for airport operations remains unchanged as airports can neither close nor relocate their terminals during the outbreak.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/covid-19-impact-on-airport-operation-technology-market-172662604.html