
Published On: Aug 2023
Published On: Aug 2023
At 7.0% CAGR, the Europe Airport Hub Network Communication Market is projected to be worth US$ 907.28 million by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the Europe airport hub network communication market was valued at US$ 645.93 million in 2023 and is expected to reach US$ 907.28 million by 2028, registering a CAGR of 7.0% from 2023 to 2028. Rising number of airports and increasing air traffic are the critical factors attributed to the Europe airport hub network communication market expansion.
Urbanization rates are rising across the globe. For instance, as per the International Air Transport Association (IATA), Europe air traffic rose by 67.0% in January 2023 as compared to January 2022. In addition, air traffic grew by 84.2% in January 2023 as compared to January 2019. More air traffic leads to a higher number of flight operations globally. In addition, the rise in e-commerce and world trade globally, the demand for the air transport for the goods transportation is growing to meet the requirements from business and consumers for fast deliveries. Further, according to the Boeing’s Commercial Market Outlook (CMO) 2022–2041, the air cargo traffic is expected to grow by 3.8% between 2022-2041. Moreover, the air cargo traffic in 2021 increased by 21% as compared to 2020. Due to rise in world trade growth, the world trade is expected to grow by 2.8% between 2022-2041 and air cargo growth is expected to rise by 4.1% for the same period. Also, the airport's management of flight operations plays a crucial role in air traffic control, flight arrival and departure, information exchange, and the management of connecting flights. Hence, a robust network communication between the airport and the airline authorities is needed, which contribute to the airport hub network communication market growth.
On the contrary, Cyberattack Threats hurdles the growth of Europe airport hub network communication market.
Based on components, the Europe airport hub network communication market is segmented into solutions and services. The services segment held 66.2% share of Europe airport hub network communication market in 2023, amassing US$ 427.34 million. It is projected to garner US$ 610.65 million by 2028 to expand at 7.4% CAGR during 2023–2028.
Based on type, the Europe airport hub network communication market is segmented into CUTE and CUSS. The CUTE segment held 58.9% share of Europe airport hub network communication market in 2023, amassing US$ 380.34 million. It is projected to garner US$ 520.32 million by 2028 to expand at 6.5% CAGR during 2023–2028.
Based on end user, the Europe airport hub network communication market is segmented into airports and airlines. The airline segment is sub-segmented into passenger and cargo. The passenger segment held 72.9% share of Europe airport hub network communication market in 2023, amassing US$ 175.07 million. It is projected to garner US$ 260.58 million by 2028 to expand at 8.3% CAGR during 2023–2028. The airports segment is sub-segmented into class I, class II, class III, and class IV. The class I segment held 68.1% share of Europe airport hub network communication market in 2023, amassing US$ 276.34 million. It is projected to garner US$ 388.33 million by 2028 to expand at 7.0% CAGR during 2023–2028.
Based on connectivity, the Europe airport hub network communication market is segmented into internet and MPLS. The MPLS segment held 56.4% share of Europe airport hub network communication market in 2023, amassing US$ 364.20 million. It is projected to garner US$ 495.69 million by 2028 to expand at 6.4% CAGR during 2023–2028.
Based on country, the Europe airport hub network communication market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 20.7% share of Europe airport hub network communication market in 2023. It was assessed at US$ 133.76 million in 2023 and is likely to hit US$ 197.58 million by 2028, exhibiting a CAGR of 8.1 % during the forecast period.
Key players dominating the Europe airport hub network communication market are Honeywell International Inc; SITA Switzerland SaRl; Amazon Web Services Inc; Amadeus IT Group SA; Embross Systems Pvt Ltd; Materna IPS GmbH; Cisco Systems Inc; Telefonaktiebolaget LM Ericsson; and Collins Aerospace among others.
Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com