The global airport terminal operations market is experiencing growth due to several factors such as rising air traffic, increasing airport modernization and expansion projects, and rising demand for enhanced passenger experience.
Wilmington, Delaware, Sept. 16, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report titled, “Airport terminal operations market “By Operation Type (Passenger Handling Services, Aircraft Handling Services, Retail & Commercial Services, and Others), Airport Category (Class A, Class B, and Class C), and Technology (Identity Management Systems and Biometrics, Baggage Handling Systems, Intelligent Security Systems, Passenger Information Systems, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033”According to the report, the airport terminal operations market was valued at $6.1 billion in 2023 and is estimated to reach $12.6 billion by 2033, with a compound annual growth rate of 7.6% between 2024 and 2033.
Main determinants of growth
The global airport terminal operations market is witnessing growth owing to several factors such as rising air traffic, increasing airport modernization and expansion projects, and rising demand for better passenger experience. However, high initial investment and regulatory challenges hamper the market growth to some extent. Moreover, smart airport initiatives and technological advantages offer remunerative opportunities for the expansion of the global airport terminal operations market.
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Segment Highlights
The passenger handling services segment is expected to grow the fastest during the forecast period..
The passenger handling services segment is expected to grow the most during the forecast period. This segment is experiencing significant growth due to the increase in global air passenger traffic, which is prompting airports to enhance their passenger handling capabilities. As air travel continues to increase, especially in emerging markets, airports are investing in efficient and seamless passenger handling services to improve overall customer experience and operational efficiency.
The Class A segment is expected to grow the fastest during the forecast period..
He Class A The airport segment is expected to witness the highest growth in the airport terminal operations market. Class A airports typically handle high passenger volumes and aircraft movements compared to Class B and Class C airports. As global air travel continues to grow, these airports are investing in infrastructure and operational efficiencies to manage the increased passenger traffic effectively. Class A airports often serve as major international hubs, connecting multiple destinations around the world. This role requires advanced terminal operations to serve the diverse needs of passengers, including seamless transfers, customs and immigration processes, and high-level security measures.
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The biometric and identity management systems segment is expected to grow the fastest during the forecast period.
The identity and biometric management systems segment is poised for the most substantial growth in the airport terminal operations market. Identity and biometric management systems are becoming indispensable for enhancing airport security measures. These systems offer robust solutions for passenger and staff identification, reducing vulnerabilities associated with traditional identification methods.
Regional perspective
North America is home to some of the busiest airports in the world, known for their advanced infrastructure and early adoption of cutting-edge technologies such as sophisticated baggage handling systems, biometric security measures, and smart airport solutions aimed at improving operational efficiency and passenger experience. Strict regulatory standards set by authorities such as the Transportation Security Administration (TSA) in the US and Transport Canada ensure high levels of security at all airports. Compliance with these standards drives investments in modern technologies for terminal operations such as security screening, baggage handling, and passenger information systems.
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Players:
The report offers a detailed analysis of these key players in global airport terminal operations. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting the business performance, operating segments, product portfolio, and strategic moves of the market players to showcase the competitive scenario.
Recent development:
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In May 2024, OSI Systems, Inc. announced that its security division was awarded a major contract worth approximately $42 million with an international airport. This contract is intended to provide various advanced screening solutions for both passenger and baggage checkpoints. The RTT® 110 Explosive Detection System is a real-time tomography system used to screen checked baggage for explosives.
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In October 2023, aviation technology provider SITA formed a partnership with Express Rail Link Sdn Bhd (ERL) to enhance its passenger services with new self-service check-in and bag drop facilities. This agreement will involve the installation of SITA check-in kiosks and SITA self-service bag drop services at the Kuala Lumpur City Air Terminal within KL Sentral by Q2 2024. These facilities will enable passengers to check in and drop off their luggage at the train station before taking the KLIA Ekspres train to the airport, thereby alleviating the stress of airport check-ins.
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In November 2023, Alstef Group was awarded a contract to design and install a new baggage handling system (BHS) for the modern terminal at Kyzylorda Airport in Kazakhstan. This project will improve the airport’s efficiency and capacity, benefiting passengers with a more streamlined experience. Alstef Group is expected to be responsible for the design, installation and commissioning of the new baggage handling technology.
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