As per the current market research conducted by CMI Market Research Team, the global US Airport Operations market is expected to record a CAGR of 6.3% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 8.70 billion. By 2032, the valuation is anticipated to reach US$ 15.08 billion.
The US airport operations market refers to the various activities and services involved in managing and maintaining airport infrastructure, facilities, and services to ensure safe and efficient operations. These activities include air traffic control, passenger and baggage handling, ground handling, maintenance and repair of airport infrastructure, and security services.
US Airport Operations Market: Growth Factors and Dynamics
The US airport operations market is a dynamic and ever-evolving industry with several key factors driving its growth and development. Here are some of the key dynamics of the US airport operations market:
Growing Passenger Traffic: The US airport operations market is primarily driven by passenger traffic. With a growing population, increased travel demand, and a strong economy, the number of passengers traveling through US airports has been steadily increasing in recent years. This growth in passenger traffic has created opportunities for airport operators to invest in infrastructure, improve customer experience, and expand their operations.
Technological Advancements: Advancements in technology are rapidly transforming the US airport operations market. Automation, artificial intelligence, biometrics, and other technologies are being implemented to improve airport security, reduce wait times, and enhance the passenger experience. As technology continues to advance, airport operators will need to adapt to stay competitive in the market.
Airline Consolidation: Over the past few years, the US airline industry has seen significant consolidation, with several major airlines merging or acquiring smaller airlines. This consolidation has led to changes in the airline industry’s operating models, which has had a significant impact on the US airport operations market.
Regulatory Environment: The US airport operations market is heavily regulated, with several federal agencies, including the Federal Aviation Administration (FAA) and the Transportation Security Administration (TSA), overseeing airport operations. Changes in regulations, policies, and security measures can have a significant impact on the industry’s growth and development.
Infrastructure Investment: The US airport operations market requires significant investment in infrastructure, including runways, terminals, parking facilities, and other amenities. Airport operators must continually invest in infrastructure to keep up with the growing demand for air travel and to provide a high-quality experience for passengers.
|Feature of the Report||Details|
|Market Size in 2023||USD 8.70 Billion|
|Projected Market Size in 2032||USD 15.08 Billion|
|Market Size in 2022||USD 9.33 Billion|
|CAGR Growth Rate||6.3% CAGR|
|Key Segment||By Platform, Airport Category, Airport Class, Operation, and Region|
|Report Coverage||Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
|Buying Options||Request tailored purchasing options to fulfil your requirements for research.|
US Airport Operations Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the US airport operations market. Here are some of the key effects of the pandemic:
Decrease in Passenger Traffic: The pandemic resulted in a sharp decline in passenger traffic, as many travellers cancelled their plans due to health and safety concerns. In 2020, US airports saw a significant decrease in passenger traffic, with many airports experiencing declines of 70% or more compared to the previous year.
Financial Impacts: The decrease in passenger traffic had significant financial impacts on airport operators, airlines, and other businesses operating within airports. Many airport operators had to reduce staff, cut budgets, and defer non-essential projects to manage their financial resources effectively.
Changes in Operational Procedures: The pandemic led to changes in operational procedures at US airports. Many airports implemented new health and safety measures, such as temperature screenings, enhanced cleaning and disinfection procedures, and social distancing protocols. Airlines also implemented new procedures, such as requiring masks on board and reducing capacity to ensure social distancing.
Technology Implementation: The pandemic has accelerated the implementation of technology in the US airport operations market. Many airports have implemented touchless technologies, such as self-check-in kiosks, biometric boarding, and touchless payment options to reduce contact between passengers and airport staff.
Federal Relief: The US government provided financial relief to the airport operations market as part of the COVID-19 relief packages. The funding helped to support airport operations and provide assistance to airport workers who were impacted by the pandemic.
The US Airport Operations Market is segmented as follows:
- Delta Air Lines Inc.
- United Airlines Inc.
- American Airlines Group Inc.
- Southwest Airlines Co.
- Alaska Air Group Inc.
- JetBlue Airways Corporation
- Frontier Airlines Inc.
- Spirit Airlines Inc.
- Hawaiian Holdings Inc.
- Allegiant Air LLC.
The US Airport Operations Market is segmented as follows:
By Airport Category
- Commercial Service Airports
- Cargo Service Airports
- Reliever Airports
- General Aviation Airports
By Airport Class
- Class A
- Class B
- Class C
- Class D
- Information Management
- Airside Operations
- Landside Operations
- Financial Operation
On the basis of Geography
- The U.S.