The global airport services market size is expected to reach USD 509.70 billion by 2032, according to a new study by Polaris Market Research. The report “Airport services Market Share, Size, Trends, Industry Analysis Report, By Type (International and Domestic); By Infrastructure; By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Global airport services have been driven by the increase in investment in the airport industry, the rise in passenger traffic across the globe, and growing import and export activity in both developed and developing economies have driven the market during the forecast period.
Furthermore, the growing consumer demand for luxurious brownfield and green filed airport services has fueled the market growth. Moreover, the adoption of KPI management, total airport management time, and an increase in the primary research activity by taking consumer stratification surveys on airports are projected to escalate the potential sales of the market in the coming years.
According to an article published by IATA in December 2022, passenger growth is projected to grow by around 8.4% & revenues are expected to grow to USD 438 billion. The substantial growth of the air travel industry is projected to enhance the demand for airport services across the globe. Adoption automation, self-services, high investment in brown filed and greenfield airport services, and a rise in air traffic across the world have enhanced the performance of the airport services market during the forecast period.
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Upgradation in artificial intelligence (AI) and internet of things (IoT) technologies have boosted the airport services market. In response to this, the rising population across the globe, and growing customer demand for luxurious and desirable services have enhanced the market growth. Moreover, several manufacturers have launched distinct online applications for customer ease. This factor is likely to boost the market for airport services during the forecast period.
Airport services Market Report Highlights
Polaris Market Research has segmented the airport services market report based on type, infrastructure, application, and region:
Airport Services, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Airport Services, Infrastructure Outlook (Revenue - USD Billion, 2019 - 2032)
Airport Services, Application Outlook (Revenue - USD Billion, 2019 - 2032)
Airport Services, Regional Outlook (Revenue - USD Billion, 2019 - 2032)