A $5.1 Billion Global Opportunity for Aerotropolis by 2026 - New Research from StrategyR
SAN FRANCISCO, Feb. 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Aerotropolis - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
What's New for 2022?
- Global competitiveness and key competitor percentage market shares
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Edition: 8; Released: February 2022
Executive Pool: 698
Companies: 50 - Players covered include Balfour Beatty PLC; Clark Construction Group, LLC; Hensel Phelps; McCarthy Building Companies, Inc.; Skanska AB; The Walsh Group; The Whiting-Turner Contracting Company; Turner Construction Company and Others.
Coverage: All major geographies and key segments
Segments: Segment (Aerotropolis)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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ABSTRACT-
Global Aerotropolis Market to Reach US$5.1 Billion by the Year 2026
An aerotropolis refers to an urban sub-region, whose economy, land-use, and infrastructure are focused on an airport. In other words, it relates to planned development around and on an airport, to gain from the economic advantages opportunities it can offer. An aerotropolis is generally planned and is not highly restricted with regards to internal space, as they are generally created on a Greenfield basis. At its core area, an aerotropolis comprises an airport city, and has commercial centers, aviation related businesses and residential spaces on the outer regions. The significant evolution of airports during the last few years, from passenger transport hubs to sophisticated commercial operations, and the considerable increase in air travel and air freight are the main reasons behind the rising focus on aerotropolis. Growth in the aerotropolis market is being fostered by rising investments in airport construction, surging need for airports in smart cities, and increasing demand for airport-oriented operations. Future investments in aerotropolis are poised to be influenced by a desirable blend of several components including speed, connectivity, agility, transformation and prosperity. Aerotropolis is being increasingly preferred by frequent business travelers owing to airport proximity.
Amid the COVID-19 crisis, the global market for Aerotropolis estimated at US$3.4 Billion in the year 2022, is projected to reach a revised size of US$5.1 Billion by 2026, growing at a CAGR of 9.1% over the analysis period. The main value proposition of an aerotropolis is that it provides businesses quick connectivity to their enterprise partners, customers, and suppliers globally and nationally. Aerotropolis therefore has become a means to regional and national economic growth. On the basis of airport type, the market is classified into brown field airport and Greenfield airport. The Greenfield airport segment holds the lion's share of the market, supported by increasing air travel and rising passenger traffic. Europe has emerged as a prominent market due to strong governmental focus on development of channelized free zones and economic zones to offer value-added services to the population.
The U.S. Market is Estimated at $805 Million in 2022, While China is Forecast to Reach $697 Million by 2026
The Aerotropolis market in the U.S. is estimated at US$805 Million in the year 2022. The country currently accounts for a 23.7% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$697 Million in the year 2026 trailing a CAGR of 10.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.2% and 7.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8% CAGR while Rest of European market (as defined in the study) will reach US$329.8 Million by the end of the analysis period. Asia-Pacific has emerged as the most dynamic region in terms of aerotropolis development that can be credited to aggressive efforts by various countries, most notably China, to promote airport cities and aerotropolises. The region is witnessing ongoing work on several projects along with announcement of ambitious plans across countries. The decision of increasing number of airports to join the aerotropolis momentum is poised to further cement the position of Asia-Pacific region in airport-linked industrial and commercial development projects. China remains the frontrunner in the aerotropolis race in Asia-Pacific region and globally, with over 100 airports in the country embracing the aerotropolis model and principles. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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