November 29, 2019 by Market-NewsFlash
Global Green Airport Market Research Report: Information by Energy Type (Wind Power, Bioenergy and Solar Energy), Airport Type (Civil Airports, Military/Federal Government Airports and Private Airports), Airport Size (Class A, Class B and Class C) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) — Forecast till 2025
Green Airport Market Highlights
The growth of the global green airport market can be attributed to the increasing modernization of existing airports, developments in commercial aviation, and the establishment of new airports. The global market has been segmented on the basis of energy type, airport type, airport size, and region.
The need for energy efficiency at airports has led to the increased use of renewable energy sources, thereby driving market growth. The power consumption at airports is extremely high, resulting in a high carbon footprint and pollution levels. Government support for the development of advanced airports and stringent regulations related to minimizing pollution are fueling the global green airport market growth. However, the high initial infrastructure setup costs are expected to restrain the growth of the market.
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Based on energy type, the global green airport market has been divided into wind power, bioenergy, and solar energy. The solar energy segment is expected to account for the largest share of the market and register the highest CAGR between 2019 and 2025. The rise in the number of smart airports and provision of cost-effective airport services using renewable energy sources are expected to fuel the solar energy segment growth during the forecast period.
In terms of airport type, the market has been divided into civil airports, military/federal government airports, and private airports. The civil airport’s segment dominated the market in 2018. It is anticipated to expand at the highest CAGR during the forecast period. This growth can be attributed to the increased use of solar energy for airport lighting, kiosks, and other airport facilities.
The key players in the global green airport market are Honeywell International Inc. (US), Siemens AG (Germany), IBM Corporation (US), Sabre Corporation (US), Amadeus IT Group SA (Spain), Collins Aerospace (US), Sita Inc. (Switzerland), Cisco Systems, Inc. (US), Thales Group (France), and Indra Siestma SA (Spain).
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