Market Size of Airport Lounges Industry
Study Period | 2019-2029 |
Market Size (2024) | USD 4.21 Billion |
Market Size (2029) | USD 9.44 Billion |
CAGR (2024 - 2029) | 17.52 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Airport Lounges Market Analysis
The Airport Lounges Market size is estimated at USD 4.21 billion in 2024, and is expected to reach USD 9.44 billion by 2029, growing at a CAGR of 17.52% during the forecast period (2024-2029).
The airport lounges market is expected to witness significant growth in the years to come. Several factors, such as the growth of the middle-class population in emerging countries leading to increased spending capacity and growing demand for luxury travel experiences globally, are expected to drive the market growth. Moreover, the addition of new lounges with greater amenities at airports to improve passenger experience and growing collaboration between credit card companies and airports to make airport lounges accessible, thereby attracting a large number of passengers, are some of the other factors driving the market growth in coming years.
On the other hand, the high operational costs of airport lounges will be the major factor hampering the growth of the market. Furthermore, increasing focus on digitization and incorporation of virtual reality and artificial intelligence will lead to growing business opportunities within the market in the coming years.
Airport Lounges Industry Segmentation
Airport lounges offer selected passengers comforts beyond those afforded in the airport terminal, such as more comfortable seating, quieter environments, and often better access to customer service representatives. Furthermore, airport lounges also provide a greater range of amenities and are more comfortable than the waiting areas inside an airport terminal.
The airport lounge market is segmented by service, lounge ownership, type, and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). By service, the market is segmented into food and beverage, connectivity and entertainment, and passenger services. By lounge ownership, the market is segmented into airline, airport and government owned and privately owned. By type, the market is classified into economy lounge and premium lounge. The report also offers the market size and forecasts for major countries across the region.
For each segment, the market sizing and forecasts have been done based on value (USD).
Service | |
Food and Beverage | |
Connectivity and Entertainment | |
Passenger Services |
Lounge Ownership | |
Airline, Airport, and Government Owned | |
Privately Owned |
Type | |
Economy Lounge | |
Premium Lounge |
Geography | |||||||
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Airport Lounges Market Size Summary
The Airport Lounges market is projected to experience growth, driven by the increasing passenger traffic and the construction of new airports and expansion of existing ones. As airports globally recover from the impact of the pandemic, they are adding new lounges and upgrading existing ones to attract more passengers, thereby driving market growth. Credit and debit card companies are also contributing to this growth by introducing lounge service programs, which allow passengers to access lounge services at partnered airports and lounges. On a regional level, North America currently dominates the Airport Lounges market, with the United Arab Emirates boasting the most premium class lounges. However, Asia-Pacific, particularly emerging economies like India and China, is expected to see high growth rates due to the surge in their civil aviation markets. This growth is further fueled by ongoing airport construction projects in the region. The industry has several key players, including American Express Centurion Lounge, Plaza Premium Lounge, DreamFolks, Airport Dimension, and United Airlines, who are focusing on providing luxurious experiences and premium class lounges with amenities like spas and clubs. Collaborations and the introduction of new concept lounges are expected to drive the market further.
Explore MoreAirport Lounges Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Service
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2.1.1 Food and Beverage
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2.1.2 Connectivity and Entertainment
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2.1.3 Passenger Services
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2.2 Lounge Ownership
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2.2.1 Airline, Airport, and Government Owned
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2.2.2 Privately Owned
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2.3 Type
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2.3.1 Economy Lounge
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2.3.2 Premium Lounge
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 Italy
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2.4.2.4 France
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2.4.2.5 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 South Korea
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 Latin America
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2.4.4.1 Brazil
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2.4.4.2 Mexico
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2.4.4.3 Rest of Latin America
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2.4.5 Middle East and Africa
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2.4.5.1 United Arab Emirates
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2.4.5.2 Saudi Arabia
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2.4.5.3 Qatar
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2.4.5.4 Rest of Middle East and Africa
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Airport Lounges Market Size FAQs
How big is the Airport Lounges Market?
The Airport Lounges Market size is expected to reach USD 4.21 billion in 2024 and grow at a CAGR of 17.52% to reach USD 9.44 billion by 2029.
What is the current Airport Lounges Market size?
In 2024, the Airport Lounges Market size is expected to reach USD 4.21 billion.