LONDON--(BUSINESS WIRE)--May 17, 2018-- projects the to post a CAGR of close to 5% during the forecast period. The expansion and construction of airports globally is a key driver, which is expected to impact market growth.
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Technavio has published a new market research report on the global airport passenger steps market from 2018-2022. (Graphic: Business Wire)
The substantial rise in passenger traffic has led to an increase in demand for additional aircraft, expansion of existing terminals, development of new airports, and consequential procurement of passenger steps to manage the growing aircraft fleets and their respective passenger handling systems. Large funds are being invested by fast-growing regions of APAC, the Middle-East, and Africa to meet this demand. Advancements in technology and the need for modern services are the other drivers propelling the global airport passenger steps market.
In this report, Technavio highlights the demand for agile airport infrastructure as one of the key trends to drive global airport passenger steps market:
Demand for agile airport infrastructure
Passenger handling operations are becoming increasingly customer-centric in their approach to growing air passenger traffic and flight destinations. Service management of the existing airports is striving to streamline passenger boarding and reduce the turnaround time of aircraft. Although most turnaround processes depend on ground handling operations, passenger boarding depends entirely on the passenger’s willingness to follow the boarding procedures. Thus, managing an agile or flexible infrastructure that can channel passengers to their respective flight boarding within an optimal time is imperative. Infrastructure is vital for both terminal and airside operations.
According to a senior analyst at Technavio for research , “A major aspect of agile airports is the common infrastructure which will be driven by common requirements and will feature technology convergence. It will aim at reducing costs, minimizing complexities, and maximizing flexibility. This includes common passive infrastructure, common wireless local area network infrastructure, and common mobile and radio infrastructure.”
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Market segmentation and analysis through 2022
In 2017, EMEA dominated the market with a share of more than 38%, followed by APAC and the Americas. However, APAC is also the only region, which is expected to witness an increase in its market share over the forecast period.
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY TRANSPORT AIR MANUFACTURING AEROSPACE ENGINEERING OTHER MANUFACTURING
SOURCE: Technavio Research
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PUB: 05/17/2018 03:14 PM/DISC: 05/17/2018 03:14 PM