The airport antenna market was valued at US$ 1.27 billion in 2019 and is projected to reach US$ 1.99 billion by 2027; it is expected to grow at a CAGR of 5.4% during the forecast period.
Europe includes various well-established economies such as France, Germany, Spain, Switzerland, Scandinavia, Russia, the UK, and Italy. The governments of these countries have been taking various initiatives, such as infrastructural development of the aerospace and military industry in the region. These countries have developed economies and are technologically advanced with the presence of a large number of airports. Similar to the North American dynamics, the most preferred means of transportation across Europe for domestic and international travel is through airplanes; thus, the region has the presence of both domestic as well as international airports. The traveller’s inclination toward air travel has resulted in significant air passenger traffic across the region. The demand for airport antenna for better reception of signals in the airport has escalated remarkably over the years in the European countries.
Moreover, in the region, NATO (North Atlantic Treaty Organization) members, such as France, are vigorously aiming to upsurge their military and defense spending. The US continually encourages NATO countries to upsurge military spending to 2.0% of GDP. It includes the construction and up-gradation of military airports in the region to integrate the airport antenna. The region is accentuating on adopting solutions designed to ensure success in critical missions in the air, on land, at sea, and in space. As there is a significant presence of international, domestic, and military airports across countries, such as the UK, Germany, France, Italy, and Spain, the adoption of airport antenna is huge in the region. Several ongoing construction projects of the airport are also one of the significant factors for the growth of airport antenna in the region. Recently, Vinci Airports introduced the final designs for the expansion of Nikola Tesla Airport in Belgrade, Serbia, and this project is worth US$ 825.45 million. This project includes the expansion of Terminal 2, preliminary work on a new runway as well as the advancement of aprons and bus gates at Terminal 1 of the airport. Such projects further boost the demand for airport antenna in the region.
The overall airport antenna market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the airport antenna market. The process also serves the purpose of obtaining overview and forecast for the airport antenna market with respect to all the segments. It also provides the overview and forecast for the global airport antenna market based on all the segmentation provided with respect to four major regions?North America, Europe, Asia Pacific, and the Rest of World. Also, primary interviews were conducted with industry participants and commentators to validate data as well as to gain more analytical insights into the topic. The participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts and key opinion leaders specializing in the airport antenna market.