LONDON--(BUSINESS WIRE)--The new airport non-aeronautical revenue market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the airport non-aeronautical revenue market.
"One of the primary growth drivers for this market is the growing emphasis on value-added services,” says a senior analyst for the industrials industry at Technavio. The vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the airport non-aeronautical revenue market size to grow by USD 46.93 billion during the period 2020-2024.
Airport Non-Aeronautical Revenue Market Segment Highlights for 2020
- The airport non-aeronautical revenue market is expected to post a year-over-year growth rate of 9.00%.
- Based on the service, the concessionaires segment led the market in 2019. The growth of the market is driven by the growing emphasis on value-added services.
- The market growth in the segment will be significant over the forecast period.
- 42% of the growth will originate from the APAC region.
- New airport projects will significantly increase the growth of the market in the APAC region.
- China and India are the key markets for airport non-aeronautical revenue solutions in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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- The airport non-aeronautical revenue market size is expected to accelerate at a CAGR of over 9% during the forecast period.
- The airport non-aeronautical revenue market is segmented by service (Concessionaires, parking & car rentals, land rental, terminal rent, and other services) and geography (APAC, North America, Europe, MEA, and South America).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Aena S.M.E. SA, Aeroports de Paris SA, Airport Authority Hong Kong, Airports of Thailand Plc, Copenhagen Airports AS, Fraport AG, Heathrow (SP) Ltd., Japan Airport Terminal Co. Ltd., Korea Airports Corp., and Vinci SA.
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