COVID-19 Impact on Airport Operations Market Overview Report by 2025

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According to the latest Market Research Report
Post COVID-19, the size of the Global Airport
Operation Market 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
current projection for 2025 is estimated to be
lower than pre-COVID-19 estimates.
Realistically, the market is expected to
recover from mid-2021 and will be struggling
with a (12.0) growth rate from 2020 to 2021.
Whereas optimistically speaking, the market
is expected to recover from Q3 of 2020 owing
to government funding for airport operations and
a rise in cargo activity. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id172662604 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.
There are opportunities for innovative companies
to manufacture smart biometric solutions, themal
imaging , and fever detection scanners. A major
factor driving the growth of the airport
operation market is the increasing demand for
smart passenger screening and management systems
across the globe. The ongoing COVID-19 pandemic
has led to the suspension of passenger flights,
which has caused a setback for the ground support
equipment sub-segment of the technology segment
of this market Ground support equipment on the
ramp side of airports is responsible for the
smooth and efficient loading and unloading of
baggage and cargo from the aircraft as well as
the disembarkation and boarding of passengers and
crew. As per the IATA, more than 100 countries
have implemented travel restrictions because of
the COVID-19 crisis. As a result, the ground
handlers say that they have lost 95 of their
revenues in the Q1 of 2020. Orders for ground
support equipment that were scheduled to be
delivered in 2020 have also been
canceled. Travel bans leading to a loss in air
traffic have had a substantially negative impact
on the Asia Pacific region
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Airports Council International (ACI) Asia-Pacific
warns that the prolonged duration of the
COVID-19 outbreak will prevent the regions
airports from achieving previously-forecasted
growth prospects. The airport association urges
regulators and governments to implement
well-defined adjustments and relief measures
tailored to suit local-level contexts. According
to ACI World estimates, Asia Pacific is impacted
the worst, with passenger traffic volumes down
24 for the first quarter of 2020 compared to
forecasted traffic levels without COVID-19.
Within the Asia Pacific region, mainland China,
Hong Kong SAR, and the Republic of Korea remain
widely affected by sizeable losses in traffic
volumes. Meanwhile, there is a sharp spike in
the number of COVID-19 cases in several countries
in West Asia, which is expected to negatively
impact traffic by -4.2 as travelers and airlines
adjust their aircraft and seat offerings. Key
Market Players The major players in the airport
operations market are 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. These players have adopted various
growth strategies such as contracts,
acquisitions, expansions, new product launches,
and partnerships agreements to expand their
presence in the airport operations market
further. Ask for Sample Report _at_ https//www.marke
tsandmarkets.com/requestsampleNew.asp?id172662604
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