LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global airport non-aeronautical revenue market report. In this report, Technavio has considered five major sources of non-aeronautical revenue, including the revenue generated from concessionaires, parking and car rentals, land rent, terminal rentals, and other services.
Competitive vendor landscape
According to the report, the global airport non-aeronautical revenue market is highly competitive, and airports compete on the basis of brands, concessionaires, product quality, reliability, and cost. In order to survive and succeed in such an intensely competitive environment, it is crucial for vendors to provide high-quality and cost-effective services with latest technology and materials.
“The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, airports should focus on designing and implementing new strategies to discover new non-aeronautical sources,” says Avimanyu Basu, a lead commercial aviation research analyst from Technavio.
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Top five airport non-aeronautical revenue market vendors
Airport Authority Hong Kong
The authority has established a 73,200 square feet facility dedicated toward retail and food and beverages. The authority also increased the number of designer brand outlets from eight to 25 and catering outlets from two to 12. Apart from these, two separate audio-visual shops were established, and facilities such as Sky Connection liquor, tobacco, perfumes, and cosmetics and Nuance-Watson HK general merchandise outlets were enhanced and relocated.
The US-based software firm, Episerver, and French Valtech collaborated to support the digital transformation initiatives of Copenhagen International Airport. One of the major roles of these IT firms is to implement innovative digital initiatives on the airport website along with its retail part (cph.dk and shop.cph.dk). The firms have contributed to the facelift of a new website featuring a receptive design, which is available in both English and Danish.
Department of Aviation
The airport authorities often host events in the airport, such as the event for school children that was arranged in December 2016 and Valentine’s day programs across the month of February 2017, which are directed toward engaging travelers and delivering a high degree of passenger satisfaction.
Korea Airports Corporation
The Gimpo airport in Seoul has projected an effectual strategy in optimizing airport functionalities since 2009, which includes bringing down personnel expenses. These reductions have contributed to the lowering of operating costs by around 12%. Seoul also has another airport, i.e., the Seoul-Incheon which was established in 2001.
Metropolitan Airports Commission
Metropolitan Airports Commission focusses on leveraging the collaboration among the businesses and organizations at the airport, which would enable the airport to deliver higher levels of passenger satisfaction. The organization revealed its plan to boost the long-term financial viability of the reliever airports system with the aid of an increase in new tenant aeronautical and non-aeronautical investments by at least $6 million by December 2017.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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