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Passenger Service System Market 2020 Technology Advancement and Future Scope

Passenger Service System

Passenger Service System market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.

The passenger service system market is estimated to register a CAGR of 12% over the forecast period (2020-2025).

The Passenger Service System market is highly competitive and consists of a number of major players: SITA NV, Amadeus IT Group SA, Sabre Corporation, Radixx International, Takeflite, Bravo Passenger Solutions Pte Limited, Collins Aerospace, Hitit Computer Services, Enoyaone Ltd., InteliSys Aviation System, Unisys Corporation, Videcom International Limited and Others

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Scope of the Report

The passenger service system market is segmented by software and services. The basic modules that the software offers are the reservation system, inventory management, and departure control system. the deployment model depends on the scale of the adoption and the infrastructure present to support it

Key Market Trends

The Rise in Air Travel Passengers is Driving the Growth of Passenger Service System

– Passenger Service System (PSS) sees its application for mission-critical systems in the airline distribution system supporting substantial airlines processes related to servicing, delivering and financially fulfilling orders.
– With increasing passengers traveling by air and need for safety and hassle-free processes before, during and post journey are major contributing factors to increase in PSS in the airlines’ industry.
– For instance, the worldwide air passenger traffic grew to 4.3 billion in 2018, a 6.1% increase over 2017 with the number of departures at 38 million globally. The world passenger traffic in terms of total scheduled revenue passenger-kilometers (RPKs) reached approximately 8.2 trillion RPKs performed, according to ICAO.

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Asia-Pacific to Witness a Significant Growth Share in the Forecast Period

– India and China are major contributors to the aviation industry developments in the region owing to increasing per capita GDP and domestic air connectivity. For instance, according to ICAO, Asia-Pacific recorded 42% of domestic traffic share and has grown by 10.4% in 2018.
– Airport Authority of India expecting passenger traffic to rise to 322 million in 2018-19 with subsequent investments in airport infrastructure approximately USD 15 billion in next 5 years indicates growing demand and supply in the aviation sector.
– In October 2018, IndiGo Airlines, the largest low-cost carrier in India, made plans to add its fleet of Airbus SE A320neos and ATR 72 turboprops at a rate of approximately 6 planes per month. As of May 2019, four of the carriers serving in India, including the defunct Jet Airways, have at least 100 or more aircrafts.
– Also, India plans to construct 100 new airports with an investment of close to USD 60 billion in the next 10-15 years, to make air travel more affordable, according to Civil Aviation Minister. These factors augment the demand for passenger service system by airlines in this region.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Passenger Service System Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.

The research includes historic data from 2025 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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