Airport Operations Market Share

Geographically, the airport operations market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

North America industry is estimated to account for largest revenue share by 2037, due to rise in air tourism is attributable to growing disposable income and overall economic development in the region, producing a need for efficient management of airport operations. But the pandemic has affected the sector in the region. U.S. and Canada have levied travel bans for the health and safety of their citizens, which resulted in a nationwide slowdown in socio-economic situations.

As of March 16, 2020, Canada has imposed sweeping travel restrictions on visitors which further adversely impacted the global aviation industry. The US-Canada border is also sealed to non-essential traffic.

As stated by the US Transport Security Administration (TSA), American airports alone touched a record of 813.8 million travelers in 2018. Additionally, the TSA managed to go onboard with a more stringent form of carry-on screening techniques at airports across the US.

Europe is the second-largest airport operations market due to escalation in smart airport initiatives in countries, such as Germany, France, and Spain, and a great number of tourists and travelers onboarding on European airlines. Europe has also been struck with COVID 19 and as of May 28, 2020, there have been over 2 million confirmed cases of COVID-19 across the region, and the region still accounts for 38% of cases and 50% of deaths worldwide, which makes travel from or to Europe, riskier. This ultimately impacts the market very harshly.

Asia-Pacific region is projected to witness a sharp decline in the overall market share of airport operation market over the forecast period, owing to rising cases of COVID 19 in emerging economies such as India, China being the first to observe the ill-effects of the virus, and fear among travelers concerning heir safety and health issues. At the time when the tourism industry was flourishing in major economies of Asia-Pacific, COVID 19 is surely acting as a bane on various associated sectors.

As of March 16, 2020, Hong Kong flight capacity was down by a massive 81% compared to 2019. China, where the outbreak began, witnessed its sharpest year-over-year drop, recorded on February 17, 2020, with a 71% fall in flights compared to the same date in 2019.