Airport Operations

Demand for the Airport Operations industry is influenced by trends in domestic and international air travel. Over the five years to 2022, industry revenue has experienced a significant amount of volatility as consistent growth at the beginning of the period was offset by hampered demand in the latter portion. Overall, lightly competing enterprises benefited from economic growth, which led to increased spending on air travel among businesses and consumers.Similarly, an increase in the number of high-income households spiked demand for private air travel services. While these dynamics precipitated revenue growth, unprecedented disruption from the COVID-19 (coronavirus) pandemic offset some early period gains, causing industry revenue to increase at an annualized rate of just 3.0% to $11.8 billion over the five years to 2022. This included a 3.4% decrease in 2020, with 6.3% recovery expected in 2022.