Fundamental Changes In Airport Business Strategies Aid In Capitalizing On Emerging Opportunities
A broad-based analysis of current aviation industry dynamics and future opportunities for U.S. airports conducted by Boyd Group International indicates a call for fundamental changes in airport business strategies to capitalize on emerging industry opportunities.
“We are facing economic re-ordering and every airport must reassess its economic role and the economic potential in its region, within the changes being brought by an increasingly global economy,” says Michael Boyd, Co-Founder and President of the Evergreen, Colorado – based aviation consulting firm.
According to the analysis, the picture for airports is a bright one. The study urges airports to reassess the potential of its available land assets and adopt strategies that encourage new development, both aeronautical and non-aeronautical.
“Change can mean a positive outcome for airports that adjust to the new economics. We see huge opportunities for attracting new investment within the global economy.” Boyd states.
The analyses points to shifts in the structure of the airline industry, consumer-driven regionalization of air transportation access, new airline fleets and potential declines in general aviation as key indicators of the need for entirely new business strategies for airports of all sizes, but particularly at small and mid-sized airports.
“An airport can no longer continue to do business as usual. The idea that a mid-size airport depends on airline service and the passengers it brings to generate over 70% of annual operating revenues cannot be sustained. As the airline industry fundamentally changes, airports will need to adopt new strategies in order to pro-actively prepare for the new realities. The airline industry we knew 10 years ago no longer exists. Airports and communities should adjust their perception of the role of the airport in the community. It’s not just about airline service and passengers anymore; it has to be about generating new opportunities and creating jobs by capitalizing on the airport asset as a whole,” Boyd continues.
The Boyd Group International analysis highlights recent economic development happenings throughout the United States as strong indicators of new the new airport opportunities being brought about by our more globalized economy.
“The recent announcement by Airbus that it will double its U.S.supplier investment to $20 billion a year by 2020 along with the announcement this week by Google to lease Moffett AFB for $1.1 billion for research and development of new aeronautical and non-aeronautical products are a clear indication future opportunities for airports in the United States.” Boyd said.
To help airports capitalize on these exciting new opportunities, Boyd Group International today introduced a new product suite; Airport Strategic and Tactical Planning Services. The new consulting and research service from Boyd Group International include:
- Strategic Business Model Assessments
- Strategic and Tactical Planning Forecasts
- Air Service Access Planning
- Economic Opportunity & Impact Assessment
- International Readiness Planning
- Community and Stakeholder Team Building
“No other nation in the world has the airport infrastructure of the United States, and this represents a huge future competitive advantage. As traditional revenue streams continue to become more challenged, airports need to take advantage of these new opportunities.” Boyd concludes.
An Detailed Outline of the Airport Strategic and Tactical Planning Services Suite, is available on the Boyd Group International website, www.aviationplanning.com
