Airport Operations Market

Airport Operations Market Segmentation By Technology (Passenger Screening, Baggage Scanners, Smart Tag & RFID, E-gate & E-Kiosk, 5G infrastructure, Cybersecurity Solutions, and Ground Support Equipment) - Global Demand Analysis & Opportunity Outlook 2028

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Report ID: 2704 | Published On: Feb 01, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.

In The News

  • May 28, 2020: The European Union Aviation Safety Agency (EASA) and the European Centre for Disease Protection and Control (ECDC) have designed posters that provide travelers with a summary of the air tourism experience as normal services restart following the outbreak of COVID-19. This has been done by placing paramount importance to health safety during the journey and this aims to accomplish safety, synchronization, and clarity in the travel experience across Europe.

  • May 7, 2020: Pittsburgh International Airport (PIT), in collaboration with Carnegie Robotics, became the first U.S. airport to set up autonomic robotic cleaners with integrated ultra-violet lights to renovate the way airport infrastructure is disinfected.

  • April 15, 2020: Emirates in synchronization with Dubai Health Authority (DHA), introduced additional safety measures, which is the need of the hour and became the first airline to manage on-site rapid COVID-19 tests for commuters. The tests were conducted by DHA and results were accessible within 10 minutes. Additionally, the passengers are also obligated to wear their masks when at the airport and during onboarding, and follow social distancing guidelines along with mandatory rules for Emirates’ employees to have masks, gloves, and hand sanitizers. This way, emirates have improved their inflight services for health and safety reasons.

Airports Operations Market Overview

The global aviation industry is struggling, impacting airport operations severely as the majority of nations across the globe have gone into lockdowns. And as the prime point of entry and exit in most countries, airports play a vital part in handling health emergencies. But, the pandemic could help in bringing investments in novel technologies and radically reshape the industry.

The International Air Transport Association (IATA), projected the 2020 global revenue losses for the passenger business between USD 63 billion (if COVID 19 is contained) and USD 113 billion (in a scenario if COVID 19 spreads even more)

Market Size and Forecast

The airport operations market is expected to attain a notable CAGR during the forecast period, i.e., 2020-2028. The market is segmented by technology and region. Among technologies, the smart biometric solutions segment is expected to grow at a significant rate owing to the current situation of a global pandemic which has risen the demand for smart screening systems, keeping health and safety measures in mind.

Growth Drivers

Installing safety and healthy measures

This pandemic can be an opportunity for the manufacturers and airport operation sectors post COVID 19. Installation of biometric solutions, thermal imaging, fever detection scanners, disinfecting cleaners, rapid testing for COVID 19, and others, can act as a great safety and health measure taken by airlines to support their growth and reassure travelers about their safety. At the same time, fingerprint scanners and human interface are expected to be phased out and replaced by artificial intelligence. CLICK TO DOWNLOAD SAMPLE REPORT

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The halting of international travel due to COVID-19 outbreak

The virus led to extreme cutbacks in flights around the world and enforced some carriers into bankruptcy as countries levied travel bans and border curbs.

On March 11, 2020, the U.S. levied a 30-day travel ban on passengers from the Schengen Area, which is an open border zone, covering 26 countries in Europe. In the meantime, in Europe, Italy observed a 22% drop in flights corresponding to the announcement of a national lockdown on March 9, 2020.

According to the World Economic Forum, trip cancellations accompanied by country-specific restrictions on international flights cost the airline industry $880 billion. Nearly 40% of flights impacted by European travel bans are U.S. based, such as Delta and United Airlines, with billions in lost profits already expected for the year 2020.

Additionally, novel safety protocols at the airports might create airport logjams.

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