Wednesday, April 10, 2024

Grounded to Skyrocket: Global Airport Operations Market's CAGR Forecast

 The report titled “Airport Operations Market by Technology (Passenger Screening [Hand Held Scanners, Walk Through Scanners, Full Body Scanners], Baggage Scanners, Smart Tag & RFID, E-Gate & E-Kiosk [Smart Boarding Systems & Smart Biometric Systems], 5G Infrastructure, Cybersecurity Solutions, Ground Support Equipment) — Global Forecast to 2030” estimates the market to be valued at USD 8.3 billion in 2023, with a projected growth to USD 14.7 billion by 2030, demonstrating a robust CAGR of 11.6% during the forecast period.

The ongoing COVID-19 pandemic has significantly impacted the manufacturing industry worldwide. The manufacturing slowdown initially observed in China has cascaded to affect businesses in more than 15 countries. Factors such as country-wide lockdowns, stringent international border controls, implementation of social distancing measures for workers, and supply chain disruptions from China have all contributed to this impact. According to the ISM global supply chain survey, over 75.0% of manufacturing firms reported disruptions in their supply chains, primarily due to transportation restrictions imposed during countrywide lockdowns to prevent the spread of the COVID-19 virus.

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