Europe Airport Asset Tracking Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Offering, and Asset Type

Mobile Assets Segment to Dominate Europe Airport Asset Tracking Market during 2019-2027

According to a new market research study on “Europe Airport Asset Tracking Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Offering and Asset Type” is expected to reach US$233.7 million by 2027 from US$88.5 million in 2019. The market is estimated to grow at a CAGR of 13.5% from 2020 to 2027. The report provides trends prevailing in the Europe airport asset tracking market along with the drivers and restraints pertaining to the market growth. Mounting air traffic due to increase in airports tally is the major factor driving the growth of the Europe airport asset tracking market. However, issues associated with developed countries depriving airport investments hinders the growth of Europe airport asset tracking market.

The Europe airport asset tracking market is segmented into offering, asset type and country. Based on offering, the Europe airport asset tracking is bifurcated into hardware and software. Hardware held the larger market share in 2019. On basis of the asset type the market is further segmented into fixed assets, portable assets and mobile assets. Mobile assets held a substantial market share throughout the forecast period.

Also the ongoing COVID-19 is having very bad impact over the Europe region. Due to the COVID-19 outbreak, Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region. Businesses in the region are facing severe economic difficulties as they had either to suspend their operations or reduce their activities in a substantial manner. Owing to business shutdown, the region is anticipated to an economic slowdown in 2020 and most likely in 2021 also. Air business is one of the important businesses in the European countries, and the outbreak of COVID-19 across the region has paralyzed the entire business. The revenue generated from airports contributes a significant share in the GDP of every European country. However, the airports in the region are witnessing continual stall in revenues, as operations had been suspended for regular passenger flights in last few months as well as halt of airport infrastructure development in several countries. Owing to the temporary termination of airport operations (except cargo business and repatriation), the revenue generation for end users has fallen drastically, which would take a longer time to normalize. However, it is expected that, with the start of construction projects, the demand for technologically advanced systems and the software will grow. Nonetheless, the airport asset tracking market in 2020 in Europe will remain sluggish.

Abeeway; Adveez, Asset Fusion Limited, Ctrack; Geotab Inc., indoo.rs GmbH, Steerpath Oy, Targa Telematics S.p.A., TracLogik, Undagrid, Unilode Aviation Solutions are among the leading companies in the Europe airport asset tracking market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Cargolux Airlines International and Unilode Aviation Solutions announced the extension of their partnership. The agreement broadens the scope of cooperation to ensure air cargo customers have access to premium transport and handling solutions to match their requirements.

The report segments the Europe Airport Asset Tracking Market as follows:

Europe Airport Asset Tracking Market - By Offering

• Hardware
• Software

Europe Airport Asset Tracking Market - By Asset Type

• Fixed Assets
• Portable Assets
• Mobile Assets

Europe Airport Asset Tracking Market - By Country

• France
• Germany
• Italy
• Russia
• UK
• Rest of Europe

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