Anticipated Surge in Passenger Traffic Spurs Airports to Focus on Green Initiatives and Achieve Zero-Waste Status.
As airports worldwide face increasing pressure from passengers and regulators to address environmental concerns, a new report by Frost & Sullivan highlights the significant role that waste management investments can play in transforming these travel hubs into eco-friendly, zero-waste spaces.
The analysis, titled "Global Airport Waste Management Growth Opportunities," predicts a surge in investments in waste management capabilities as airports strive to meet sustainability goals amidst the recovery of air passenger traffic.
According to Frost & Sullivan's findings, the global airport waste management market is poised to generate $2.34 billion in revenue by 2030, marking a notable increase from $1.76 billion in 2021. This growth, at a compound annual growth rate (CAGR) of 3.3%, underscores the aviation sector's increasing commitment to environmental responsibility.
Abhilash Varkey Abraham, Aerospace & Defence Research Analyst at Frost & Sullivan, pointed out the heightened scrutiny on the aviation sector's environmental impact, particularly concerning the substantial volumes of waste generated and the challenges of disposal and recycling. In response, aviation stakeholders are striving towards emission-free and zero-waste business models.
"The focus on waste management and green efforts will increase as passenger demand recovers and emissions surpass pre-pandemic levels. It will force airports to develop benchmarking and accurate measurement processes. This will help them assess their waste management capabilities; as a result, they will be able to set zero-waste strategies and goals," explained Abraham.
The report outlines various growth opportunities for airports aiming to enhance their sustainability and waste management initiatives:
1. Start-Up Accelerators: Airports can foster innovation by developing and investing in start-up accelerators that encourage the launch of creative solutions focusing on waste and energy management.
2. Collaborations and Investments: Collaborations with key stakeholders and strategic investments in offerings preferred by customers will be crucial for airports to achieve their zero-waste aspirations.
3. Green Procurement Processes: Establishing green procurement processes and clean supply chains will be vital. This ensures the use of sustainable materials that can be fully recycled during the development of airport infrastructure.
As airports globally align with green initiatives and seek ways to reduce their environmental footprint, the focus on waste management is expected to become a cornerstone of sustainable practices in the aviation industry. The findings from Frost & Sullivan's analysis highlight a shift towards a more eco-conscious future for airports, where waste management investments play a pivotal role in achieving sustainability goals.
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