Airside Services Market Size to Garner $4.9 Billion by 2031: Allied Market Research
Allied Market Research
6 min read
Allied Market Research
An increase in investment to support brownfield and greenfield airside services, a rise in passenger traffic across the globe, and the adoption of new technologies supporting automation and self-services drive the growth of the global airside services market. Region-wise, the market in Asia-Pacific was the largest in 2021, and is likely to maintain its leadership status during the forecast period.
Portland, OR, Nov. 07, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global airside services market size generated $2.5 billion in 2021, and is estimated to reach $4.9 billion by 2031, witnessing a CAGR of 7.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
Airside Services Industry Report coverage & details:
Report Coverage
Details
Forecast Period
2022–2031
Base Year
2021
Market Size in 2021
$2.5 Billion
Market Size in 2031
$4.9 Billion
CAGR
7.2%
No. of Pages in Report
338
Segments Covered
Airport Class, Operation, Platform, End Use, and Region
Drivers
An increase in investment to support brownfield and greenfield airside services.
A rise in passenger traffic across the globe.
Adoption of new technologies supporting automation and self-services.
Opportunities
Integration of artificial intelligence (AI) and machine learning (ML) technologies
Increase in real time consumer integration
Restraints
Lack of standardized global infrastructure, hindering cohesive approach
Covid-19 Scenario:
The COVID-19 had a notable impact on the airside services market and shifted the business dynamics within the forecasted timeframe. A majority of the airports were focused toward reducing operational cost, increasing operational efficiency, and reducing their carbon footprint.
Airport traffic and income were significantly impacted by the pandemic. The rapid spread of the virus and the containment measures by governments worldwide resulted in airport closures and made people stay at home, thereby leading to a drastic decline in the global air traffic in 2020.
However, the market is gaining traction with the pandemic situation improving.
The report offers a detailed segmentation of the global airside services market based on airport class, operation, platform, end use, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on airport class, the class B segment held the largest share in 2021, accounting for nearly two-fifths of the global airside services market, and would rule the roost through 2031. The same segment is estimated to witness the fastest CAGR of 8.2% during the forecast period. The report also discusses the class A, class C, and class D segments.
Based on the operation, the aircraft handling segment held the largest share in 2021, capturing nearly two-fifths of the global airside services market, and would lead the trail through 2031. The same segment is estimated to witness the fastest CAGR of 7.5% during the forecast period. The report also discusses the passenger handling and cargo handling segments.
In terms of platform, the hardware segment captured the largest market share of over two-fifths in 2021 and is expected to lead the trail during the forecast period. The software segment, on the other hand, is likely to achieve the fastest CAGR of 7.7% through 2031. The report also studies the service segment.
In terms of end use, the commercial segment captured the largest market share of more than three-fifths in 2021 and is likely to maintain a noteworthy growth during the forecast period. The same segment is likely to achieve the fastest CAGR of 7.2% through 2031. The report also includes the military segment.
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for around one-third of the global airside services market share, and is likely to maintain its leadership status during the forecast period. Moreover, the market in the same region is expected to manifest the highest CAGR of 8.3% from 2022 to 2031. The other regions analyzed in the study include North America, Europe, and LAMEA.
Leading players of the global airside services market analyzed in the research include Cisco Systems, Inc., Honeywell International Inc., The International Business Machines Corporation (IBM), Indra Sistemas, S.A., QinetiQ Group plc, Raytheon Technologies Corporation, Siemens AG, SITA, Teledyne Technologies Incorporated, Thales Group, Daifuku Co., Ltd., Damarel Systems International Ltd., Amadeus IT Group, S.A., INFORM GmbH, Aena SME, S.A., and Huawei Technologies Co., Ltd.
The report analyzes these key players of the global airside services market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
