Latest News- Airport Non-Aeronautical Revenue Market: Concessionaries is expected to lead the Service segment during 2025-2029

The Airport Non-Aeronautical Revenue Market is being driven by Evolving sophisticated airport terminals

The Airport Non-Aeronautical Revenue Market is expected to grow at a CAGR of 8.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 43.99 billion. Airports have evolved from mere transport facilities to commercial business hubs, with the adoption of airport city strategies and the emergence of aerotropolis - urban economic zones centered around airports. This transformation is driven by the availability of land for airport expansion and the enhancement of surface transportation infrastructure, making commuting more convenient. Modern airport cities offer a wide range of commercial functions, including shopping malls, restaurants, and offices, making them self-sufficient metropolitan areas within and beyond their boundaries. The growth of these airport cities is a significant contributor to the non-aeronautical revenue market, generating substantial income for airports and surrounding communities. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Service
  • Concessionaries
  • Parking and car rentals
  • Land rentals
  • Terminal rent by airlines
  • Other services
• Business Segment
  • Commercial development
  • Advertising
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Evolving sophisticated airport terminals
• Growing transit and transfer passenger traffic
• Airport loyalty programs

However, the market also witnesses some limitations, which are as follows:

• Cost-intensive market penetration
• Effect of airport privatization on concessionaries prices
• Stringent electrical system safety and regulations

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Market Scope in Airport Non-Aeronautical Revenue Market Research Report

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Research Analysis Overview

In the Airport Non-Aeronautical Revenue Market, key areas include monitoring concession sales, optimizing parking revenue, negotiating lease agreements, selecting retail tenants, evaluating advertising campaign returns, enhancing ground handling efficiency, measuring passenger experience metrics, valuing commercial space, forecasting revenue, implementing risk management strategies, and initiating cost optimization. Additionally, focusing on contract performance, tenant satisfaction, customer segmentation analysis, financial performance indicators, operational efficiency improvements, airport sustainability initiatives, investment return projections, regulatory compliance measures, security system effectiveness, airport master planning, customer relationship management, space allocation strategies, marketing campaign effectiveness, transportation network management, service level agreements, property value assessment, and business development is essential for success.

Market Research Overview

The global airport services market encompasses the revenue generated by airport operators and associated businesses, encompassing a range of offerings such as passenger parking fees, retail concessions sales, car rentals, duty-free shop revenues, and airport advertising income. This market scope extends to hospitality services, cargo handling, and aircraft handling, among other essential services. According to Technavio, market size is determined by the income generated by various airport service providers, including hospitality, cargo handling, aircraft handling, and related services, as well as ancillary offerings like cabin cleaning, sanitary services, and real estate development. Market expansion will be fueled by the prioritization of enhanced customer experience through superior airport facilities, with a focus on advanced technologies and innovative services to cater to growing demand.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/