- The key vendors (airlines and airports) in the Aviation Market in APAC 2015-2019 are China Southern Airlines Co. Ltd., China Eastern Airlines Corp. Ltd., Beijing Capital International Airport Co. Ltd. (BCIA) and Tokyo Haneda Airport
London, 10 April 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Aviation Market in APAC 2015-2019. Expansion of airport terminals to support the growing passenger traffic is one of the key trends being witnessed in the market. The airports are upgrading their existing terminals and adding new runways to meet the growing demand from passengers and cargo shippers. The construction of new infrastructure is expected to help airports maintain a smooth flow of cargo and passenger transportation and increase their non-aeronautical revenue. The Aviation Market in APAC is expected to witness steady growth during the forecast period of 2014-2019, and post a CAGR of 6.37%.
The rise in the middle-class population combined with an increase in GDP and an inclination to travel among both the middle class and youth is contributing to the growth of the market. Growing tourism combined with seasonal traveling within the region and internationally to countries such as China, India, Indonesia, and Malaysia is further boosting the growth of the market.
“Airports are now becoming regional economic accelerators and are driving business development as they act as international gateways as well as connecting points for global enterprises and production systems,” says Faisal Ghaus, Vice President of Technavio Research.
“The aerotropolis is a concept in which the plan and layout of a city is concentrated around an airport. In this concept, the airport is the center of the city and all the business centers are built around it.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Aviation Market in APAC 2015-2019; please send an e-mail to media@TechNavio.com
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