Post COVID-19 Impact on Airport Operations Market by 2025 - PowerPoint PPT Presentation

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Post COVID-19 Impact on Airport Operations Market by 2025

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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%. – PowerPoint PPT presentation

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Date added: 15 September 2020
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Title: Post COVID-19 Impact on Airport Operations Market by 2025


1
The COVID-19 Impact on Airport Operations 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 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. 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. 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 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
2
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. 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. Ask for
Sample Report _at_ https//www.marketsandmarkets.com/
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