The
global ground
handling system market size is expected to reach USD 189.09
billion by 2022, according to a new report by Grand View Research, Inc.
The
substantial growth prospects of the aircraft ground handling system market can
be attributed to a global increase in the passenger and cargo air traffic.
Support by several governments worldwide and the local airport authorities are
also stimulating the industry growth. Aviation and local airport authorities
regulate the operations of handling equipment related to the safety of
airliners, passengers, and the cargo to be transported.
The
multi-billion-dollar expansion of airline fleets and airports globally has set
off significant growth prospects for the aircraft handling industry
players.Both, airlines operators and airports are focused on procuring and
implementing advanced technologies to meet the rising air traffic and ensuring
greater profitability, performance, and efficiency amidst stiff competition.
An
emerging trend in the industry is the use of renewable energy sources to power
equipment. Biogas-powered snow removal equipment, which is an eco-friendly
approach, is being developed increasingly to carry out snow removal at
airports. Furthermore, with the integration of IT in ground support operations,
companies are increasingly developing innovative ground support software to
address the specific needs of handlers.
However,high
initial and replacement costs for such equipment are presumed to challenge
market growth over the forecast period. Advanced and innovative ground support
equipment that is sustainable is comparatively expensive and cuts into the
profit share of major commercial airline companies.
Browse full research report on Ground Handling System Market: https://www.grandviewresearch.com/industry-analysis/ground-handling-system-market
Further
key findings from the report suggest:
- Aircraft
support equipment accounted for over40% of the overall market share in
2014 and is poised for significant growth over the next seven years. The
growth in this segment can be attributed to increasing global airline
fleets at the airport, and increased prominence of air travel.
- Baggage and
cargo handling service segment is anticipated to witness substantial
growth over the forecast period, growing at a CAGR of over 10% from 2015
to 2022. The growth in baggage and cargo support service is dependent upon
the increase in the number of commuters using air travel, and an increase
in air cargo transport.
- Projected to
grow at an estimated CAGR of over 10%, from 2015 to 2022,ramp support
service is expected to witness significant growth over the next seven
years. The growth in ramp handling service segment can be attributed to
increasing demand for passenger movement, aircraft towing, parking
assistance, and aircraft marshaling.
- The ground
handling system market in Asia Pacific accounted for over 25% of the
overall market share in 2014 and is presumed to witness significant levels
of growth over the forecast period.India and China are expected to
incorporate considerable opportunities for regional industry growth, due
to increasing urbanization, large population, eventually leading to
extensive domestic traveling.
- The Middle
East regional market is presumed to witness substantial growth over the
forecast period, growing at a CAGR of close to 9% from 2015 to 2022. The
region incorporates significant growth potential owing to asurge in
aviation activities in the form of expansion,modernization, and domestic
air travel.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/automotive-and-transportation
Grand
View Research has segmented the global ground handling system market on the
basis of equipment, service, and region:
Ground
Handling System Equipment Outlook (Revenue, USD Billion, 2012 - 2022)
- Aircraft
handling
- Baggage &
cargo handling
- Passenger
handling
Ground
Handling System Service Outlook (Revenue, USD Billion, 2012 - 2022)
- Aircraft
handling
- Baggage &
cargo handling
- Passenger
handling
- Ramp handling
- Others
Ground
Handling System Regional Outlook (Revenue, USD Billion, 2012 - 2022)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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