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Airports - Market ReportPublished by: Key Note Publications Ltd Published: Aug. 1, 2004 - 90 Pages Table of ContentsExecutive Summary 1. Market Definition Report Coverage MARKET SECTORS Aviation Revenues Commercial Revenues MARKET TRENDS Passenger Travel Market Growth Liberalisation of Air Travel Low-Cost Air Travel Airport Services International Passenger Services Domestic Passenger Services International Freight Services ECONOMIC TRENDS Population Table 1: UK Resident Population Estimates by Sex (000), Mid-Years 1999-2003 Gross Domestic Product Table 2: The UK Tourism Market by Share of Gross Domestic Product and Airport Revenue by Share of the UK Tourism Market (£bn, % and £m), 1999-2003 Inflation Table 3: UK Rate of Inflation (%), 1999-2003 Household Disposable Income Table 4: Household Disposable Income (£ and %), 1998-2002 MARKET POSITION The UK Table 5: Passenger Transport Within the UK by Mode (billion passenger kilometres and %), 1999-2003 OVERSEAS Table 6: UK Passenger Movements In and Out of the UK by Air and Sea (000 and %), 2001-2003 Table 7: The World's Top Ten Tourism Destinations (million and %), 2002 2. Market Size The TOTAL MARKET By Value Table 8: The Total UK Airports Market by Revenue (£m), 1999-2003 By Volume Table 9: The Total UK Airports Market by Volume (%, million, 000 and 000 tonnes), 1999-2003 By Market Sector Table 10: UK Airport Revenues by Type (£m and %), 1999-2003 Table 11: Commercial and Aviation Revenues for BAA PLC by Product Area (£m and %), Years Ending March 2000-2004 Aviation Revenues Commercial Revenues Table 12: Commercial Revenues for BAA PLC (£m and %), Years Ending March 2000-2004 Table 13: Commercial Revenues for BAA PLC by Product Area (£m), Years Ending March 2000-2004 3. Industry Background RECENT HISTORY NUMBER OF COMPANIES Table 14: Concentration in the Commercial Airports Industry by Share of Terminal Passengers (%), 1999-2003 Employment Table 15: Estimated Employment Levels of Major UK Airport Operators (number of employees and %), 1999-2003 REGIONAL VARIATIONS In The Marketplace HOW ROBUST IS THE MARKET? LEGISLATION KEY TRADE ASSOCIATIONS Airports Council International Civil Aviation Authority 4. Competitor Analysis THE MARKETPLACE Passenger Services Table 16: Number of Terminal Passengers at Major UK Airports (000 and %), 1999-2003 Freight Services Table 17: Freight Trends of Major UK Airports (tonnes and %), 1999-2003 Table 18: Turnover for Major UK Airport Owners (£m), Years Ending 31st March 1999-2003 Market Leaders BAA PLC Company Structure Heathrow Gatwick Stansted Glasgow Edinburgh Aberdeen Southampton Current and Future Developments Financial Results Table 19: Financial Results for BAA PLC (£m, %, million, 000 and 000 tonnes), Years Ending 31st March 2000-2004 Birmingham International Airport Ltd Company Structure Current and Future Developments Financial Results Table 20: Financial Results for Birmingham International Airport Ltd (£000 and %), Years Ending 31st March 1999-2003 London City Airport Ltd Company Structure Current and Future Developments Financial Results Table 21: Financial Results for London City Airport Ltd (£000 and %), Years Ending 31st December 1998-2002 Manchester Airport PLC Company Structure Current and Future Developments Financial Results Table 22: Financial Results for Manchester Airport PLC (£000 and %), Years Ending 31st March 1999-2003 Newcastle International Airport Ltd Company Structure Current and Future Developments Financial Results Table 23: Financial Results for Newcastle International Airport Ltd (£000 and %), Years Ending 31st March 2000 and 2001, 39 Weeks Ending 31st December 2001, and Years Ending 31st December 2002 and 2003 TBI PLC Company Structure London Luton Belfast International Cardiff International Current and Future Developments Financial Results Table 24: Financial Results for TBI PLC (£000 and %), Years Ending 31st March 1999-2003 OUTSIDE SUPPLIERS Marketing Activity Main Media Advertising Expenditure Table 25: Main Media Advertising Expenditure on Airports (£000), 1999-2003 5. Strengths, Weaknesses, Opportunities and Threats STRENGTHS WEAKNESSES OPPORTUNITIES THREATS 6. Buying Behaviour PROFILE OF UK AIR TRAVELLERS Table 26: Profile of UK Residents Who Have Travelled by Air in the Last 12 Months (% of adults), 2001-2003 SHORT-HAUL AIR TRAVELLERS Profile of Short-Haul Air Travellers Table 27: Air and Gender Profiles of Short-Haul Air Travellers (% of visits), 1999-2003 Purpose of Visit Table 28: Short-Haul Air Travellers by Reason for Visit (% of visits), 1999-2003 7. Current Issues TERRORISM PUNCTUALITY NOISE the ENVIRONMENT Strikes 8. The Global Market TOTAL MARKET SIZE Table 29: World Airport Traffic by Region (million passengers), Year Ending March 2004 Air Transport Movements Table 30: The Leading Airports in the World by Total Aircraft Movements† (number of aircraft movements and %), 2002 and 2003 Passenger Transport Table 31: The Leading Passenger Airports in the World by Total Passengers† (number of passengers and %), 2002 and 2003 Freight Transport Table 32: The Leading Cargo Airports in the World by Volume of Total Cargo† Transported (tonnes and %), 2002 and 2003 9. Forecasts Introduction Table 33: National Air Traffic Forecast at UK Airports (million international passengers), 2005-2020 Table 34: Forecast UK Growth in Gross Domestic Product in Real Terms (%), 2004-2008 Forecasts 2004 to 2008 Table 35: The Forecast Total UK Airports Market by Revenue, Terminal Passengers and Freight (£m, million and 000 tonnes), 2004-2008 FUTURE TRENDS 10. Company Profiles Baa Plc Birmingham International Airport LTd Manchester Airport Plc Newcastle International Airport LTd Tbi Plc 11. Further Sources Associations General Sources Government Publications Other Sources Bonnier Information Sources AbstractIn 2003, the revenue generated by UK airports was £2.44bn, an increase of 2.7% on 2002. This reversed the decrease of 2.6% in 2002, which was driven by the contraction in air traffic movements following the events of 11th September 2001. Airports are part of the transport infrastructure, and support the flow of passengers and freight on domestic and international journeys. In the UK, the most important flow in terms of volume and revenue generation is that of international passengers. The location of an airport, and the destinations it serves, are the primary determinants of passenger choice. However, for many, there is no real choice of UK airport - south east England has the greatest selection, with five airports serving international destinations. Airports generate revenue from many different streams, which can be broadly categorised into aviation and commercial revenues. The competition between UK airports is not intense, as passenger choice is based partly on location. However, they do compete on aviation fees to attract airlines to establish and operate new routes. This places an onus on airports to generate an increasing percentage of their revenues from commercial revenue streams, although this was severely undermined by the abolition of intra-EU duty free in 1999. Nevertheless, commercial revenues have continued to grow at a faster rate than aviation revenues, and represent more than half the revenues generated by airports. Some airports, namely Heathrow, Gatwick, Stansted and Manchester, have landing charges controlled by the Civil Aviation Authority (CAA) - the UK's regulatory body for the aviation industry. Demand for international passenger services is the primary driving force for airport revenues. Traditionally, passenger demand for international air travel has grown at a slightly higher rate than gross domestic product (GDP). There are many factors that dictate this trend. In particular, the liberalisation of the air travel market, the dismantling of international trade and people barriers, and the fall in the real cost of air travel are important factors. In the early 2000s, several major events adversely affected the demand for international air travel. These were the events of 11th September 2001, foot-and-mouth disease in the UK, severe acute respiratory syndrome (SARS) and the war in Iraq. Nevertheless, the demand for international air travel both into and out of the UK has continued to grow, driven partly by the growth in low-cost airline services. BAA, which dominates UK airport ownership, is the largest airport operator in the world, with ownership, management and contractual interests in many overseas airports. In the UK, the company's revenue accounts for over three-quarters of the total revenue generated by UK airports. The Manchester Airport Group (MAG) is the second-largest airport owner in the UK. Key Note forecasts that, between 2004 and 2008, terminal passenger demand at UK airports will increase at the lower end of the latest national air traffic demand forecasts. Over the 5-year period, passenger demand is expected to rise by 18.5%. Key Note Market Reports
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