Airport Non-Aeronautical Revenue Market Size by Service and Region — Forecast and Analysis 2020–2024
The airport non-aeronautical revenue market size has the potential to grow by USD 46.93 billion during 2020–2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by service (concessionaires, parking and car rentals, land rental, terminal rent by airlines, and other services) and region (APAC, North America, Europe, M.E.A., and South America). Also, the report analyzes the market’s competitive landscape. It offers information on several market vendors, including Aena S.M.E. S.A., Aeroports de Paris SA, Airport Authority Hong Kong, Airports of Thailand Plc, Copenhagen Airports AS, Fraport AG, Heathrow (S.P.) Ltd., Japan Airport Terminal Co. Ltd., Korea Airports Corp., and Vinci SA.
The growing emphasis on value-added services is one of the major factors driving the market growth. With the constant increase in passenger traffic, airport operators are developing airport terminals, and surrounding areas for commercial activities as these commercial activities attract passengers, thus enhancing the passenger travel experience and increasing airport revenue. To improve the overall economy, countries across the globe are increasingly focusing on converting their international airports to business centers by developing museums and I.T. parks, which will also convert airports from being just infrastructures to commercial enterprises.
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Key airport non-aeronautical revenue market trends, such as the development of smart airport strategies, will also drive market growth. The smart airport approach involves the integration of all systems into one single digital grid, which allows the sharing of real-time information, resulting in enhanced operational efficiencies and superior passenger experience. As a result of such factors, the airport non-aeronautical revenue market will register a CAGR of over 9% by 2024.
