Global Airport Operations Market - Analysis and Forecast (2021-2027), FLIR Elara DX-Series, FLIR Saros DM-Series.


Posted December 22, 2021 by industryno1

VynZ Research is a global market intelligence company providing research reports.

 
The global airport operations market is estimated to be USD 8.3 billion in 2020 and is predicted to reach USD 14.3 billion by 2027, growing at a CAGR of 11.0% during the forecast period. The major factors responsible for airport operations market growth were surge in passenger traffic volumes through increase in flight capacity and frequency, particularly from developing economies. Moreover, with rapid globalization and favorable economic conditions has also increased the profit margins, which thereby fueled manufacturing activities, causing more frequent cargo flights from developing economies to developed ones and vice versa. China has become the export based economy, so air cargo traffic in the country has surged a lot in the past decade, followed by other Asian giants like South Korea, India, Malaysia, and Taiwan. Additionally, small chunk of airport revenues also comes from passenger shopping at the retail stores, eating at restaurants, and purchasing antiques from duty free shops, while waiting for the flights.

With the ongoing COVID-19 pandemic, the manufacturing industry is badly hit. The manufacturing slowdown in China has affected the manufacturing business in more than 15 countries, due to country-wide lockdowns, strict international border controls, social distancing measures for workers, and supply chain issues from China. Moreover, according to the ISM global supply chain survey results, more than 75.0% of the manufacturing firms reported disruptions in the supply chain, owing to transportation restrictions due to countrywide lockdowns to avoid the spread of COVID-19 virus.

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Geographically, North America is the largest revenue contributor in the airport operations market due to growth of pandemic massively in the region. The demand for opening up of different revenue strategies has been in thinking by the companies based in the region in order to fight coronavirus. The number of COVID-19 cases in North America is also enhancing rapidly with registered cases of almost 5,04,780 and 18,763 deaths as registered in the first week of May.

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, thermal imaging, and fever detection scanners.

Few recent strategic initiatives happened in the past include the following such as, in 2019, Collins Aerospace entered into a multi-year agreement with Salvador Deputado Luis Eduardo Magalhaes International Airport (SSA). With this agreement, the former will provide SSA with several industry leading solutions, which will help in easing congestion, improving airport efficiency, and passenger processing times. Similarly, in the same year, FLIR systems launched 3 new pan-tilt-zoom (PTZ) security cameras, namely, FLIR Elara DX-Series, FLIR Saros DM-Series, and e FLIR Quasar 4K IR PTZ.

Source: VynZ Research
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Last Updated December 22, 2021