Aviation Infrastructure Market To Touch Highest Milestone In Terms of Overall Growth By 2030 — Zion Market Research
Zion Market Research has published a new report titled “Aviation Infrastructure Market for Airport Type (Brownfield and Greenfield Airport), Application (Hangars, Maintenance, Repair and Overhaul (MRO) Facilities, Airport Terminal, Warehousing, Runways) by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa): Global Industry Perspective, Comprehensive Analysis and Forecast.
The aviation industry plays an important role in the economic development of any nation and in supporting long-term economic growth. The sector provides direct benefits to the users and also provides economic benefits through its positive impact on economic performance and productivity. Hence, in order to uphold the role of the aviation sector in the economy, it is important to capitalize on airport infrastructures. Further, the increase in the expansion plans for existing airports, as well as the growing demand regarding the construction of smart airports, are some of the major factors that are supporting the growth of the global aviation industry market in the forecast period.
Due to the sudden rise in the number of air travelers as well as the aircraft, the aircraft operators are experiencing immense pressure concerning the establishment of control and passenger handling. This prominent factor has led them to opt for some newer plans that can help them to establish a proper aviation infrastructure. A good aviation infrastructure can also help to create a perfect harmony between the airports, aircraft, and air traffic controls. This is yet another reason that is prompting most of the aircraft operators to establish a modern and technologically advanced aviation infrastructure.
However, factors that can adversely hamper the growth of the market of aviation infrastructure. A few of these are technological changes and advancements, existing infrastructure as well as the cost of building new infrastructure. Nevertheless, with the involvement of the Government of the country, these negative factors can be avoided quite comfortably. Thus, if all the positive and negative points are taken into account, then it can be concluded that the market of aviation infrastructure is expected to grow at a moderate during the forecast period
The global aviation infrastructure market is fragmented based on type, application and region. Based on Airport Type, the segmentation is done as brownfield and Greenfield airport. Based on application the segment is sub-segmented into hangars, maintenance, repair and overhaul (MRO) facilities, an airport terminal, warehousing, and runways. Greenfield airports are likely to be the most dominant segment of the global aviation infrastructure market and are expected to maintain this preference over the predicted periods due to the growing need for internationally benchmarked airports.
On region bases, the market is segmented into Europe, Asia Pacific, North America, Latin America, and Middle East & Africa. Asia-Pacific comprised of the most significant share of the aviation infrastructure market in terms of volume during 2018. North America dominates the market in 2018; however, Asia-Pacific is expected to register the highest CAGR during the forecast period and may exceed the North American market share by the end of 2026. In the Asia Pacific region, India is one of the fastest-growing countries and contributes around USD 72 billion to GDP.
Some of the major players operating in the global Aviation Infrastructure market are -
- Hensel Phelps Construction Co.
- Turner Construction Company
- Skanksa AB
- Austin Commercial
- Aecom
The report segments the global aviation infrastructure market as follows:
Aviation Infrastructure Market: Airport Type Segment Analysis
- Brownfield
- Greenfield Airport
Aviation Infrastructure Market: Application Segment Analysis
- Hangars
- Maintenance
- Repair and Overhaul (MRO) Facilities
- Airport Terminal
- Warehousing
- Runways
Aviation Infrastructure Market: Regional Segment Analysis
- North AmericaU.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- Middle East and Africa
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