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Market research analysts at Technavio predict that the global aerotropolis market will grow steadily during the next four years at a CAGR of over 9% by 2021. One of the major factors driving the growth of the aerotropolis market is the rapid expansion of airport-linked smart cities that have enhanced connectivity with efficient, large, and well-networked airports. Airport operators are developing smart cities around airports due to the changing dynamics of airport infrastructure in line with globalization, digitalization, and liberalization. Furthermore, business hubs are also being integrated with various non-aeronautical and aeronautical activities with smart cities clustering around the airports.
With the constantly increasing passenger traffic, airport authorities are developing a unique approach that can enhance customer travel experience with safe and reliable operations and the installation of sleeping pods at airport terminals to provide a comfortable stay at airports. This in turn, will lead to the adoption of agile infrastructure that will help in ensuring advanced operational efficiency of the aviation ecosystem.
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The aerotropolis market appears to be highly competitive due to the presence of several vendors. It is critical for vendors to provide high-quality and cost-effective services with the latest technology and materials to sustain in such an intensely competitive business atmosphere. The vendors in this market must focus on designing and implementing new strategies to secure key contracts from global customers as the growth of the vendors depends on market conditions, government support, and industry development.
The leading vendors in the market are -
The other prominent vendors in the market include Balfour Beatty, Clark Construction, Manhattan Construction, McCarthy Building Companies, and The Whiting-Turner Contracting Company.
During 2016, the greenfield airport segment accounted for the major shares and dominated this market. The development of greenfield airports is due to the growing passenger traffic and the rising demand for air travel. Airports are constantly adopting new methods to improve their non-aeronautical revenue by providing value-added services to passengers, even during their waiting time at airports. Non-aeronautical revenues play a significant role during economic recessions as it balances the impact of low passenger and freight volumes and safeguards the operational profit margins of aviation stakeholders.
This market study estimates that in terms of geographic regions, EMEA will be the major revenue contributor to the aerotropolis market by 2021. Owing to the growing passenger traffic, airport operators in this region are focusing on the development of aerotropolis around airports to generate significant non-aeronautical revenue. Additionally, the governments in this region are also focusing on the development of channelized free zones and industrial and economic zones to enhance the value-added services provided to people of various demographics and generate higher revenue.
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To help clients achieve a competitive edge, the global market research firm Technavio presents a comprehensive portfolio of industry research reports on the multiple aspects of the general aviation sector, which is a significant part of the aerospace and defense industry.
This upcoming report on the global aerotropolis market also considers the growth of similar markets such as light aircraft, which is expected to grow at a CAGR of almost 6% during the period of 2017 to 2021. According to Technavio’s market research analysts, factors such as high innovation budgets and leads in technological innovations will influence the growth of the general aviation market in the coming years.
This upcoming industry research report on the global aerotropolis market also identifies the market drivers, emerging trends, and the challenges come across by the aerospace and defense vendors and offers key insights into the markets of aerospace components, aerospace manufacturing, and commercial aviation.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by airport type
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Appendix
Tags: smart city, airport city, aviation services, aviation security, general aviation industry outlook, aerospace and defense market trends,
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