The airport catering truck market continues to witness steady growth, as growing demand for aircraft ground support creates sustained opportunities for stakeholders. Airport authorities and airline companies continue to invest in infrastructure development, which in turn is augmenting demand for airport catering trucks around the globe, finds a new study.
Driven by increasing development of airports across developed and emerging economies, the airport catering trucks market is likely to expand at a CAGR of 5.7% in terms of value, reveals a new study compiled by Fact.MR. In terms of volume, the report expects over 3 billion airport catering trucks to be sold by 2028.
Post 9/11, the aviation industry coped up that announced the possibility of huge potential growth which created many opportunities with respect to development of airport infrastructure. This in turn resulted in increasing business opportunities for airport ground support equipment and services, airport catering trucks being a subset of these. Largely pushed by industry consolidation in developed economies of Europe and the United States, airport catering trucks witnessed a burgeoning demand from the developing nations.
Request Free Sample Report @ https://www.factmr.com/connectus/sample?flag=S&rep_id=800
Fact.MR has recently compiled several aspects associated with airport catering trucks, according to which the global airport catering trucks market is projected to expand at a 5.7% CAGR in terms of value during the period of forecast, 2018-2028.
Air travel continues to gain high momentum with growing number of people opting for air travel mode, either for leisure activities or business travel, albeit higher costs associated with air travel. According to IATA (International Air Transport Association), based on a 3.6 percent year-on-year growth, more than 7 billion passengers are expected to adopt air travel by 2036. This has influenced aircraft manufacturers to enhance their production capacities to cater to this anticipated growing demand for air travel. With increasing number of aircrafts, consumption of food products is expected to showcase a cumulative growth, in turn mushrooming the demand for airport catering services and ground support, such as airport catering trucks.
In addition, increasing popularity of sports ha also augmented the adoption of air travel. So to say, Japan is expected to showcase a significant opportunity from an investment standpoint, as the country is looking forward to enhance its airport infrastructure for 2020 Olympics and hopes to attract around 40 million tourists. International Air Transport Association anticipates that the country will attract more than 60 million overseas visitors by 2030 with a probable tourism receipts to exceed US$ 130 billion. Growing development of infrastructure in the country is expected to auger well for airport catering trucks during the period of forecast.
Airport Infrastructure Proliferation to Supplement Expansion
With increasing demand for air travel, governments of various countries are investing in developing aviation infrastructure to build new air ports. In United States alone, there are more than 14,000 airports, which has become the biggest market for airport catering. Emerging economies are also contributing to the worldwide airport count, with China leading in number followed by India as government plans to initiate airport development projects in these countries.
Considering the increasing air traffic and development of airports worldwide, it becomes imperative for airport management to provide consumer services, which includes availability of food products. Catering services are focusing on providing hygienic and refrigerated food with superior quality – a customer’s basic requirement. This has pushed the use of superior airport catering services for on-board passengers and travelers flying via long haul flights which consecutively is expected to fuel the demand for airport catering trucks during the period of forecast.
Have Any Query? Ask Our Industry Experts @ https://www.factmr.com/connectus/sample?flag=AE&rep_id=800
About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
Contact Us
Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/
Read Our News - https://dailypeacetimes.com/
