- The Aviation market in North America is expected to witness moderate growth, posting a CAGR of 3.16 percent during the period 2014-2018.
London, 23 September 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Aviation Market in North America 2014-2018. One key trend witnessed in this market is the emergence of the aerotropolis concept in North America, which is expected to increase air traffic in the region. It is a concept in which the plan and layout of a city is concentrated around the airport. The airport is in the center of the city, and all the business centers are built around the circumference of the airport.
With the increase in the number of commercial airports across the world, there has been a corresponding increase in the number of passengers that travel through them. Increase in global air traffic has also led to an increase in the number of passengers traveling on North American airlines. This is in turn has led to an increase in the demand for airports and airlines in this region.
“With an increase in the number of people who travel by air and a corresponding increase in the number of commercial airports and airlines, there is an increased need to effectively manage and monitor passengers to deliver their baggage and cargo to the correct destinations, thereby driving the overall Aviation market in the region,” says Faisal Ghaus, Vice President of TechNavio Research.
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.
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