The keyplayer has released a research report titled “Global Airport Lounge Access Market (2023 Edition)” which provides a complete analysis of the Global Airport Lounge industry in terms of market segmentation By Ownership (Airline, Airport, Government Owned, Privately Owned), Access Method (Loyalty Programs, Credit/Debit Cards, Digital & QR Code, Walk-In, Airline Voucher) and By Application (Personal, Business) for the historical period of 2018-2022, the estimated year 2023 and the forecast period 2024-2028.
The research study also assesses the market growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market’s evolution. During the forecast period, 2023-2028, Global Airport Lounge is expected to expand at a CAGR of 25.8%. The increasing disposable income of middle-class people and the increasing trend of using flights for save time are contributing to the overall growth of the Airport Lounge market. The Global Airport Lounge Access Market is expected to generate USD 55.71 Billion by the end of 2028, up from USD 6.42 Billion in 2022. There will undoubtedly be an increase in demand for airport lounges as more companies conduct business on a global scale and depend on air travel to hold meetings and attend conferences.
In airport lounges, there has been an increased emphasis on health and fitness. To meet the increased demand from travellers who want to keep fit and healthy while travelling, several lounges now include amenities like spa services, yoga courses, and healthy cuisine alternatives. Due to its big population and extensive terrain, the Americas see significant levels of air travel, which increases the need for airport lounges. There are a lot of people who can afford to pay for admission to airport lounges in the Americas, where the average income level is rather high.
The research study covers a detailed analysis of the Americas (United States, Canada, Brazil, and Rest of America), Europe (Germany, United Kingdom, France, Rest of Europe), APAC (China, Japan, South Korea, India, and Rest of Asia Pacific), Middle East, and Africa. Additionally, the research report displays data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities, demand for future forecast, and so on.
Rise In Airline Loyalty Program
Demand for admission to airport lounges rises as more travellers sign up for airline loyalty programmes. In addition, airlines frequently collaborate with owners of airport lounges to provide its devoted patrons access to the facilities. This collaboration enables airlines to give their clients more value, which may assist to boost client retention and spur growth for both the airline and the operator of the airport lounge. Overall, the expansion of airline loyalty programmes has greatly aided the expansion of the airport lounge business by spurring collaborations between airlines and lounge providers and raising demand for lounge access.
Advancements in Airport Technology
Travellers are seeking methods to unwind and relax before their trips as airports become more congested and unpleasant. In contrast to the terminal’s commotion, noise, and throngs of people, airport lounges offer a relaxing and calm environment where passengers may wait for their flights. The creation of mobile applications that enable travellers to reserve lounge access and other amenities straight from their smartphones is one of the major technological developments that has fuelled the expansion of the airport lounge business. Travellers now find it simpler to locate and reserve lounge access, which has increased demand for these services. The adoption of biometric identification technology to expedite the security and boarding procedures is another significant technical innovation. Travellers now spend less time standing in queue and more time relaxing in the lounge as a result of this. Additionally, a lot of airport lounges now provide modern travellers with facilities like charging stations, high-speed Wi-Fi, and other conveniences.
Scope of the Report:
- The report analyses the Airport Lounge Access Market by Value (USD Billion).
- The report presents the analysis of the Airport Lounge Access Market for the historical period of 2018-2022, the estimated year 2023 and the forecast period of 2024-2028.
- The report analyses the market by region and by country including the Americas (United States, Canada, Brazil, and the Rest of America), Europe (Germany, United Kingdom, France, Rest of Europe), APAC (China, Japan, South Korea, India, and Rest of Asia Pacific), Middle East, and Africa.
- The report analyses the Airport Lounge Access Market by Ownership (Airline, Airport, Government Owned, Privately Owned).
- The report analyses the Airport Lounge Access Market by Lounge Access Method (Loyalty Programs, Credit/Debit Cards, Digital & QR Code, Walk-In, Airline Voucher).
- The report analyses the Airport Lounge Access Market by Application (Personal, Business).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by application, by lounge access method, by ownership.
- Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Deutsche Lufthansa, Air France, Cathay Pacific, Qantas, Delta Airlines, Emirates, British Airways, American Express, United Airlines, and DreamFolks.