As per some studies, total air traveler traffic has reached 500 mn for domestic flights within Europe alone, while the count has soared to 330 mn for international routes in the past few years. This increase in passenger traffic has further pushed airlines and airports to increase their investment in the innovation and advancement of technologies to provide numerous services such as smart advertising within airports, smart parking, baggage tracking, and flight status check, among others.
Airport operation models have dramatically evolved in the past two decades and have fuelled the development of the global airport industry. In addition, a number of regulatory reforms have brought in a new era in aviation worldwide. Due to the increasing competition within the commercial aviation sector, airlines have become increasingly responsive to the increasing requirements of their passengers. This is why increased innovation and focus on cost reduction have become a key priority for airlines in addition to providing numerous benefits to passengers on the basis of choice and increased value.
The increasing number of airlines, the growing mass capacity in airports, and the rising funding from governments for airport construction globally are amongst the major factors stimulating the growth of the global airport industry. For example, the Chinese Civil Aviation Administration has planned to expend US$500 mn for the construction of 69 airports within China alone by the end of 2019. In addition, the increasing disposable incomes of customers and the increasing inclination towards enhanced comfort during travel are also amongst the prime factors positively impacting the growth of the global airport industry. On the other hand, the increasing congestion owing to the introduction of a number of airlines and the subsequent flight delays may pose a threat to the growth of the global airport industry.
The emergence of smart airports is also taking the world by storm. A smart airport system includes devices, components, services, and solutions that optimize and automate the utilization of aviation infrastructure for carrying out advanced operations. Smart airports include a number of components such as freight operation information systems, check in management, operations and baggage, air traffic management, and freight operations information systems. Some of the other components of smart airports are airway analytics, ticketing, communications, and IP-based security monitoring.
Modern day airports are increasingly being equipped with self-service and automated processes that have also largely eliminated queues, thus saving the time of passengers. In addition, in the coming years, the introduction of drive-through self-baggage check-ins will be crucial in fuelling the growth of the global airport industry. The increasingly common provision of a number of other amenities provided to customers, such as seamless access to free Wi-Fi within airport lounges, e-boarding passes, etc., will further provide impetus to the global airports market in the coming years
Within the global airport industry, a number of niche markets have also been studied by QYResearchReports.com. Some of these markets are the global airport security market, commercial airport baggage handling systems market, and airport stands equipment market, among others. These up-to-date research reports by QYResearchReports.com provide meticulous information on a number of markets within the airport industry. They provide a detailed evaluation of the prime drivers, key trends, chief restraints, and major opportunities in these markets to help players achieve enhanced penetration in their respective markets.