Aviation Infrastructure Market Research, 2032
The aviation industry plays a vital role in the economic development of a nation. The aviation industry is crucial to the long-term growth of economies as air travel facilitates the fast and timely movement of people and cargo, which is important for trade and commerce. The volume of air passenger traffic and the number of aircrafts being handled by an airport is continuously increasing year by year around the world. This has resulted in airport terminals becoming overcrowded. With increase in the number of passengers globally, the already existing airport infrastructure also need to be updated. Additionally, airports are also being built in smaller cities and townships to improve their connectivity. Airports globally require to upgrades in various areas like better air traffic control systems, longer runways, and the ability to handle a larger number of passengers at one time. These factors are expected to propel the growth of the global aviation infrastructure market over the next decade.
COVID-19 scenario analysis:
- COVID-19 pandemic has forced many companies in the global aviation infrastructure market to halt their business operations to comply with new government regulations for curbing the spread of COVID-19. This pause in operations directly impacts the revenue flow of the global aviation infrastructure market.
- The building construction and maintenance industry is at a standstill due to the lockdown imposed by governments around the world to reduce exponential spread of the deadly virus.
- There is halt in production of construction materials as well shortage of raw materials. In addition, no new consignments are being received by the companies operating in this sector. Therefore, some companies that are permitted to resume their operations are unable to do so, owing to the unavailability of raw materials.
- Many governments around the world have permitted to begin construction activities, however, employers have to follow certain measures to provide a safe and healthy workplace for the same.
- Halt in construction activities and lockdowns for several months have affected the market of global aviation infrastructure all over the world, with slow recovery is expected during.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, Opportunities, Restraints and Impact Analysis
The global aviation industry is very important to the economic activity of any region. Therefore, it is important to upgrade and improve aviation infrastructure worldwide. Further, the increase in number of small airports being built and the planned expansion of existing airports globally are also major factors that are expected to help the growth of the global aviation infrastructure market. Due to the rise in number of air passengers as well as the growing fleet sizes of aircrafts, airline companies as well as airport authorities are increasingly looking to implement new plans and infrastructure improvements that can help them establish better control and passenger handling. Commodities shipped by air are generally high value products or are very time-sensitive, such as documents, pharmaceuticals, fashion garments, production samples, electronics consumer goods, and perishable agricultural and seafood products. Cargo related to industries that depend on just-in-time production technique are also shipped by air. Well planned and effective aviation infrastructure help to maintain efficient and smooth operations. This is a major factor behind the growth of the global aviation infrastructure market as airline companies globally look to establish various modern technologies and advanced aviation infrastructure.
However, airport infrastructure improvement projects generally face a few common challenges worldwide such as longer lead times of infrastructure project can hamper daily operation of airport terminals and cause customer dissatisfaction, land acquisition required for expansion is often difficult, and both local and global political issues and regulatory framework can complicate the process. Since air freight rates are higher than sea or road transport, the cost of air transport is a major restraining factor for the global aviation infrastructure market. In a particular economy without a significant outbound flow of exports, the inbound flow of imports by air freight incur higher cost to the economy and thus may reduce the types and quantities of products transported by air from that country or region. These are the major restraining factors of the global aviation infrastructure market. The growth opportunities for the global aviation infrastructure market come from the increasing global population and urbanization as this is causing governments around the world to invest in projects to build small airports in small cities and townships or expansion and up gradation projects of existing important airports to increase capability of airports and improve connectivity for people and businesses.
The global aviation infrastructure market trends are as follows:
Rising awareness of the importance of energy conservation and environmental degradation
The air freight industry is very important to the transportation and supply chain management of companies in a wide variety of industries. Door-to-door express package services like DHL, UPS and Federal Express are popular worldwide for their superior delivery times and reliability in transporting cargo and freight. These international courier services use air transport for better transportation times and standardized costs and have in effect changed the way businesses and consumers expect international transportation of cargo and freight to take place. Technological advancements like real time tracking and tracing of shipments through web-based software has also helped the growth of the air freight industry massively. Consumers are now thus better informed about the route of their packages as well as the anticipated date and time of delivery. This real-time tracking and tracing of flight data has massively improved the sorting, warehousing and package delivery operations of the global logistics and courier services industry. Various products across various different industries are shipped by air such as cut flowers, electronic parts, fresh fruits and vegetables. Goods transported by air typically are high value consumer goods. The use of air freight can create competitive advantages. For example, goods manufacturers and producers may be able to agree to or take on orders in shorter time as shipment by air is faster than by sea. Similarly, manufacturers and producers of various goods may be able to take on larger orders. Industries that employ just-in-time manufacturing can be benefited by this. The growth of the global food and beverages industry is another factor that is expected to help the global aviation infrastructure industry grow. The major advantage of air freight is the much shorter transportation and transit times involved. To ensure more efficient and faster movement of cargo through airports, improvements and up gradation of infrastructure is required for various operations like customs clearance procedures, cargo inspection procedures, cargo handling equipment and procedures, among others. These areas if infrastructure innovation and improvement present growth opportunities for the global aviation infrastructure market.
Growth of global construction industry with rising population, urbanization and disposable income around the world
Due to the factors of growing population, urbanization and increased standard of living of consumers around the world, the global aviation infrastructure market is expected to expand. These factors are expected to aid the global aviation infrastructure market grow as the growth of the global aviation industry goes hand in hand with growth of urbanization. More and more individual airports for smaller cities and townships are continuously being commissioned and built by governments around the world to improve connectivity and open their economy to better trade opportunities. With rising disposable income, everyday consumers are increasingly looking for increased comfort and timesaving in their travelling conditions. Local businesses are able to flourish thanks to the improved connectivity and international companies can sell their products in overseas markets thanks to the improved connectivity. Air freight is popular in the logistics and transportation industry for being able to transport bulky, expensive goods from one place to another as quickly as possible. Changing technology has helped make air travel and air transport more economical. Airfares are becoming cheaper globally thanks to both more efficient operations by airline companies and rising competition. This factor is helping to make flying more accessible and common for the average middle-class passenger. The growth of the global tourism industry is also expected to be a driving factor behind the growth of the global aviation market. The millennial generation are also a major factor behind the global tourism and travel boom and the trend of travelling to both local and international picturesque destinations continues to grow worldwide. Hence the global aviation infrastructure market is expected to grow in the future due to the above mentioned factors.
Key benefits of the report:
- This study presents the analytical depiction of the global aviation infrastructure market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global aviation infrastructure market share.
- The current market is quantitatively analyzed to highlight the global aviation infrastructure market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global aviation infrastructure market analysis based on competitive intensity and how the competition will take shape in coming years.
Aviation Infrastructure Market Report Highlights
| Aspects | Details |
 By Airport Type |
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 By Application |
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 By Industry verticals |
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 By Region |
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 Key Market Players | Turner Construction Company, Skanksa AB, Austin Commercial, Manhattan Construction Group, LLC Vecellio, Crisdel Group, Inc, Clark Construction Group, Aecom, Hensel Phelps Construction Co., VRH Construction |
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