Airport Operations Market Trends

The airport operations market is expected to attain a notable CAGR during the forecast period, i.e., 2020-2028. The market is segmented by technology and region. Among technologies, the smart biometric solutions segment is expected to grow at a significant rate owing to the current situation of a global pandemic which has risen the demand for smart screening systems, keeping health and safety measures in mind.

Growth Drivers

Installing safety and healthy measures

This pandemic can be an opportunity for the manufacturers and airport operation sectors post COVID 19. Installation of biometric solutions, thermal imaging, fever detection scanners, disinfecting cleaners, rapid testing for COVID 19, and others, can act as a great safety and health measure taken by airlines to support their growth and reassure travelers about their safety. At the same time, fingerprint scanners and human interface are expected to be phased out and replaced by artificial intelligence. CLICK TO DOWNLOAD SAMPLE REPORT

Restraints

The halting of international travel due to COVID-19 outbreak

The virus led to extreme cutbacks in flights around the world and enforced some carriers into bankruptcy as countries levied travel bans and border curbs.

On March 11, 2020, the U.S. levied a 30-day travel ban on passengers from the Schengen Area, which is an open border zone, covering 26 countries in Europe. In the meantime, in Europe, Italy observed a 22% drop in flights corresponding to the announcement of a national lockdown on March 9, 2020.

According to the World Economic Forum, trip cancellations accompanied by country-specific restrictions on international flights cost the airline industry $880 billion. Nearly 40% of flights impacted by European travel bans are U.S. based, such as Delta and United Airlines, with billions in lost profits already expected for the year 2020.

Additionally, novel safety protocols at the airports might create airport logjams.