According to our latest market study on "Airport Hub Network Communication Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Platform Type, Connectivity Type, and End Users," the market is expected to grow from US$ 2,522.69 million in 2023 to US$ 3,466.17 million by 2028; it is estimated to register a CAGR of 6.6% from 2023 to 2028.
Airports play a key role in facilitating the economic development of a country. Therefore, the governments of several countries have taken various steps to boost their aviation sectors, leading to the development of new airports. For instance, in March 2023, India’s Minister of Civil Aviation shared information on the latest developments and future plans of the Indian aviation sector. The Minister announced that the focus was to reach a US$ 20 Trillion economy in the aviation sector by 2047. To achieve this, the Indian government expanded the number of airports from 74 in 2014 to 148 by March 2023. In addition, the rise in tourism, air traffic, and increased competition are among other factors that are adding to the rise in the number of airports.
Below mentioned are a few newly launched airports:
The opening of new airports leads to the expansion of airport hub network communications. Such connectivity systems help increase the exchange of information between the airport and airline authorities. All this enhances the customer experience and adds to their convenience, thereby propelling the airport hub network communication market growth.
In 2022, North America held the largest airport hub network communications market share. According to IATA, air traffic is expected to grow by 2.6% from 2022 to 2041. To manage this increased air traffic, the region is expected to procure 9,310 aircraft in the same period. In addition, the region is establishing new airports. For instance, in March 2022, Felipe Ángeles International Airport was established in Mexico. The increasing number of new airports is boosting the demand for aircraft to perform various operations. According to IATA, the fleet size in the region is expected to grow by 1.6% from 2022 to 2041. Thus, a rise in the number of airports is expected to increase the demand for airport hub network communication solutions and services for efficient communications between the newly established airports and newly added aircraft, fueling airport hub network communication market growth.
The global airport hub network communication market is segmented into component, platform type, connectivity type, end users, and geography. In terms of component, the airport hub network communication market is bifurcated into solutions and services. Going by platform type, the airport hub network communication market is categorized into CUTE and CUSS. Based on connectivity type, the airport hub network communication market is classified into internet and MPLS. By end users, the airport hub network communication market is divided into airlines and airports.
Key Findings of Study:
Asia Pacific is expected to grow in the airport hub network communication market during the forecast period. The market growth is due to the increasing fleet size and air traffic in the region. For instance, according to IATA, in South Asia, the fleet size is expected to grow by 6.2% from 2022 to 2041, and in Southeast Asia, it is anticipated to grow by 4.8% for the same period. In addition, the air traffic in South Asia and Southeast Asia is expected to grow by 6.8% and 5.3% from 2022 to 2041, respectively. To handle this increased air traffic, the demand for new aircraft is also growing. According to IATA, 2,345 aircraft are expected to be delivered in South Asia between 2022 and 2041, and in Southeast Asia—4,255 aircraft are expected to be delivered in the same period. All these factors lead to increased flight operations and generate demand for airport hub network communications, thus catalyzing airport hub network communication market share in the region.
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