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Airport Non-Aeronautical Revenue Market by Service and Geography - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR43095
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The airport non-aeronautical revenue market share is expected to increase by USD 46.93 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 9.1%.

This airport non-aeronautical revenue market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers airport non-aeronautical revenue market segmentations by product (concessionaries, parking and car rentals, land rentals, terminal rent by airlines, and other services) and geography (APAC, North America, Europe, South America, APAC, North America, Europe, and South America). The airport non-aeronautical revenue market report also offers information on several market vendors, including Aena S.M.E. SA, Aeroports de Paris SA, Airport Authority Hong Kong, Airports of Thailand Plc, Copenhagen Airports AS, Fraport AG, Heathrow (SP) Ltd., Japan Airport Terminal Co. Ltd., Korea Airports Corp., and Vinci SA among others.

What will the Airport Non-Aeronautical Revenue Market Size be During the Forecast Period?

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Airport Non-Aeronautical Revenue Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The evolving sophisticated airport terminals is notably driving the airport non-aeronautical revenue market growth, although factors such as cost- intensive market penetration may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the airport non-aeronautical revenue industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Airport Non-Aeronautical Revenue Market Driver

One of the key factors driving the airport non-aeronautical revenue market growth is the evolving sophisticated airport terminals. Though the main functional core of an airport is its passenger terminals, it also carries out various commercial activities that generate non-aeronautical revenues through luxury commercial spaces offering high-end products and services. Airport operators are morphing terminal spaces to shopping malls, along with artistic and recreational venues, to attract passengers and earn non-aeronautical revenues. Airport operators are also providing conference rooms to business passengers to reduce their travel time and eliminate their need to travel to cities. Airport terminal areas are no longer restricted to food courts, magazine shops, and duty-free stores. They now include shopping galleries and streets featuring specialty retail, high-end boutiques, upscale restaurants, along with entertainment, live music, arts, and cultural attractions. International brands are being complemented with locally-themed products and dining outlets. Trade facilities and custodian-staffed business lounges are emerging in airport terminals, which are propelling the growth of the global airport non-aeronautical revenue market.

Key Airport Non-Aeronautical Revenue Market Trend

Another key factor driving airport non-aeronautical revenue market growth is the progression of airport cities and aerotropolis concepts. The gradual adoption of airport city strategies and the evolution of aerotropolis (urban economic zones centered around airports) are being realized worldwide. One of the major instruments supporting this growth attribute is the development of airports from mere air transport facilities to a multi-functional, commercial business hub within airport boundaries and beyond. The growth of these airport cities directly reflects the availability of land for expansion of airport facilities, and the improvement of surface transportation facilities, making commutation more convenient locally. Airport cities have developed to such an extent that most commercial functions of a modern metropolitan city, such as shopping malls and restaurants, are found on or near most major airports. The major contributors to this transition have been passenger terminal commercial activities, particularly airside (past security), galleries, and retail outlets.

Key Airport Non-Aeronautical Revenue Market Challenge

Cost- intensive market penetration is one of the key challenges hindering the airport non-aeronautical revenue market growth. Most domestic or regional airports are only used for arrival and departure and offer very few concessionaires. Passengers who are traveling through these airports do not wait for a long time, thereby bringing down the need for sleeping pods or any other rest areas in these terminals. Also, the limited terminal space at airports is one of the major constraints for the deployment of sleeping pods, especially at brown-field airports where the airport terminal space is already saturated. In addition, most airports have lounges and other rest areas that offer more privacy to passengers than sleeping pods. Also, public organizations are investing in the development of no-frill airports in tier-II and tier-III cities to encourage air transport. These airports have a small terminal building with baggage carousels, few seating chairs, and immigration areas that only encourage regional air connectivity. Such airports do not require sleeping pods and thus, pose a threat to market growth.

This airport non-aeronautical revenue market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global airport non-aeronautical revenue market as a part of the global airport services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the airport non-aeronautical revenue market during the forecast period.

Who are the Major Airport Non-Aeronautical Revenue Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • Aena S.M.E. SA
  • Aeroports de Paris SA
  • Airport Authority Hong Kong
  • Airports of Thailand Plc
  • Copenhagen Airports AS
  • Fraport AG
  • Heathrow (SP) Ltd.
  • Japan Airport Terminal Co. Ltd.
  • Korea Airports Corp.
  • Vinci SA

This statistical study of the airport non-aeronautical revenue market encompasses successful business strategies deployed by the key vendors. The airport non-aeronautical revenue market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

Product Insights and News

  • Aena S.M.E. SA - The company offers various non-aeronautical services that includes airport concessionaires, retail sales, duty free shops, food and beverages, car rental and parking, fuel for aircraft, and landing and take-off charges at 46 airports in Spain and 17 other airports in Europe and America.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The airport non-aeronautical revenue market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Airport Non-Aeronautical Revenue Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the airport non-aeronautical revenue market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Airport Non-Aeronautical Revenue Market?

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49% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for airport non-aeronautical revenue in APAC. Market growth in this region will be faster than the growth of the market in other regions.

APAC is one of the key emerging regions in the aviation industry, growing at a significant growth rate. Airport authorities, real estate agents, and other commercial organizations focus on the divergence of airport infrastructure and are trending toward establishing more commercial activities in airports. The growing demand for air travel has increased the number of airports, and these investments, will, in turn, fuel non-aeronautical sources of revenue in the region during the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic resulted in a downfall in airports’ non-aeronautical revenue in 2020. The growth of the market in focus is directly linked to the aviation industry, which was the first one to endure complete shutdowns at the time of the pandemic. The volume of passengers in airports was restricted owing to the rapid spread of COVID-19. For instance, in India, private airports witnessed a steep fall of 40%-60% in passenger volume in 2020 due to the crisis. However, with the control in the spread of the virus coupled with the removal of lockdown restrictions, the market in focus is expected to recover during the forecast period.

What are the Revenue-generating Product Segments in the Airport Non-Aeronautical Revenue Market?

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The airport non-aeronautical revenue market share growth by the concessionaries will be significant during the forecast period. With growing investments in airport developments, airports are expanding, diversifying, and upgrading their retail and duty-free offerings for an effective rate of return. Airport operators are commercializing airport terminal areas and surroundings with various concessionaires to leverage the increasing passenger traffic as an opportunity to influence passengers' buying ability. These concessionaires pay certain fees to operate their restaurants, bars, and cafeterias, and catering services at facilities such as airports, hotels, lounges, duty-free shops, conference rooms, spas, and gyms, which constitute a major portion of the airport's non-aeronautical revenue.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the airport non-aeronautical revenue market size and actionable market insights on post COVID-19 impact on each segment.

 

Airport Non-Aeronautical Revenue Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 9.1%

Market growth 2021-2025

$ 46.93 billion

Market structure

Fragmented

YoY growth (%)

9.00

Regional analysis

APAC, North America, Europe, South America, APAC, North America, Europe, and South America

Performing market contribution

APAC at 49%

Key consumer countries

China, US, India, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aena S.M.E. SA, Aeroports de Paris SA, Airport Authority Hong Kong, Airports of Thailand Plc, Copenhagen Airports AS, Fraport AG, Heathrow (SP) Ltd., Japan Airport Terminal Co. Ltd., Korea Airports Corp., and Vinci SA

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Airport Non-Aeronautical Revenue Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive airport non-aeronautical revenue market growth during the next five years
  • Precise estimation of the airport non-aeronautical revenue market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the airport non-aeronautical revenue industry across APAC, North America, Europe, South America, APAC, North America, Europe, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of airport non-aeronautical revenue market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025
    • Impact of COVID-19 on the industrials sector
    • Recovery phase

    Five Forces Analysis

    • Five force summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Service

    • Market segments
    • Comparison by Service
    • Concessionaries - Market size and forecast 2020-2025
    • Parking and car rentals - Market size and forecast 2020-2025
    • Land rentals - Market size and forecast 2020-2025
    • Terminal rent by airlines - Market size and forecast 2020-2025
    • Other services - Market size and forecast 2020-2025
    • Market opportunity by Service

    Customer landscape

    • Customer Landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • APAC - Market size and forecast 2020-2025
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor Landscape
    • Landscape disruption
    • Competitive scenario

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Aena S.M.E. SA
    • Aeroports de Paris SA
    • Airport Authority Hong Kong
    • Airports of Thailand Plc
    • Copenhagen Airports AS
    • Fraport Group
    • Heathrow (SP) Ltd.
    • Japan Airport Terminal Co. Ltd.
    • Korea Airports Corp.
    • Vinci SA

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
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    The airport non-aeronautical revenue market market growth will increase by $$ 46.93 bn during 2022-2025.
    The airport non-aeronautical revenue market market is expected to grow at a CAGR of 9.1% during 2022-2025.
    Technavio has segmented the airport non-aeronautical revenue market market by product (concessionaries, parking and car rentals, land rentals, terminal rent by airlines, and other services) ,geography (APAC, North America, Europe, South America, and APAC) , and geographic (APAC, North America, Europe, South America, and APAC).
    Aena S.M.E. SA, Aeroports de Paris SA, Airport Authority Hong Kong, Airports of Thailand Plc, Copenhagen Airports AS, Fraport AG, Heathrow (SP) Ltd., Japan Airport Terminal Co. Ltd., Korea Airports Corp., Vinci SA are a few of the key vendors in the airport non-aeronautical revenue market market.
    APAC will register the highest growth rate of 49% among the other regions. Therefore, the airport non-aeronautical revenue market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the airport non-aeronautical revenue market market growth are:
    • evolving sophisticated airport terminals
    • progression of airport cities and aerotropolis concepts
    The airport non-aeronautical revenue market market vendors should focus on grabbing business opportunities from the concessionaries segment as it accounted for the largest market share in the base year.
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