Press release
Ground Handling Services Market Analysis, Trends, Growth, Research And Forecast 2033
Ground Handling Services Market
The Business Research Company offers in-depth market insights through Ground Handling Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The ground handling services market size has grown strongly in recent years. It will grow from $26.15 billion in 2023 to $28.17 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to air travel expansion, airline deregulation, airport infrastructure development, globalization of air travel, security and safety regulations.
The ground handling services market size is expected to see strong growth in the next few years. It will grow to $37.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to environmental sustainability focus, shifts in airline business models, airline fleet expansion, globalization of air travel, airport infrastructure investments. Major trends in the forecast period include digitalization and automation, personalized services, sustainability initiatives, enhanced security measures, adaptation to new airline business models, data analytics and predictive maintenance.
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Market Segmentation:
The ground handling services market covered in this report is segmented -
1) By Service: Ground handling, Passenger ground handling, Ramp handling, Other Services
2) By Airport Type: International, Domestic
3) By Application: Civil, Military
Major Driver - Surging Demand For Air Freight Cargo Fuels Expansion In Airport Ground And Cargo Handling Services Market
The increased demand for air freight cargo is expected to propel the growth of the ground handling services market going forward. Air freight cargo is the process of shipment in which goods are transferred via a chartered or scheduled air carrier. The changing consumer preference and growing E-commerce industry have witnessed an increased demand for air freight cargo due to its fast and same-day delivery services. This mode of transportation necessitates a dependable and quick turnaround time handling technique, boosting the demand for airport ground and cargo handling services to reduce halt time resulting in less emission on airports. For instance, in January 2022, according to a report published by the International Air Transport Association (IATA), a Canada-based trade association, global air freight markets revealed that full-year demand for air cargo climbed by 6.9% in 2021. Therefore, an increase in demand for air freight cargo will drive the growth of the airport ground and cargo handling services market.
Competitive Landscape:
Major companies operating in the ground handling services market report are Baltic Ground Services, Dubai National Air Transport Association , Aerospace Jet Group, Swiss Aviation Group AG, SAAB AB, Cargotec Corporation, Worldwide Flight Services (WFS), JBT Corporation, Swissport International Ltd., Singapore Airport Terminal Services Limited , Beumer Group GmbH & Co. KG, TAV Havalimanları Holding A.Ş., Groundforce Handling Portugal , Aviapartner Group NV, Weihai Guangtai Airport Equipment Co. Ltd., Goldair Handling SA, Airport Terminal Services Inc., Cavotec Group SA, Mallaghan Engineering Ltd, Menzies Aviation plc, Skyplan Services Ltd., Belau Transfer and Terminal Company, AFS Aviation Services Limited , Vision Aviation Global, AN Aviation Services Co. Ltd., AvJet International (FZE), Proground GmbH, Myanmar National Airlines, Airline Services Ltd., Jet Aviation Business Jets AG , Çelebi Havacılık Holding A.Ş. , Royal Aviation, SAS Ground Handling AB
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Top Trend - Strategic Collaborations Drive Innovation And Market Positioning In Ground Handling Services Industry
Major companies operating in the ground handling services market are forming partnerships to develop new products and strengthen their positions in the market. Collaborations and partnerships in the ground handling services market foster innovation, leverage complementary expertise, and accelerate the development and commercialization of advanced solutions by combining resources and capabilities. For instance, in January 2022, Synaptic Aviation, a US-based AI-technology company partnered with Unifi Inc. a US-based manufacturing company. This partnership is to launch a new artificial intelligence (AI) solution that offers improved visibility into airport ground operations. It is anticipated that this collaboration will transform ground operations and enhance the general aviation industry customer experience. Synaptic Aviation's artificial intelligence technology monitors thousands of aircraft and delivers critical operational data in real-time, including average turn-around time, gate usage, required foreign object damage prevention walks, ground power unit connection times, and more. The AI technology produces results in a matter of weeks and provides crucial data for enhanced turnaround activities and management. It is intended to optimize operations for airlines, air cargo, and ground handling organizations.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ground Handling Services Market Characteristics
3. Ground Handling Services Market Trends And Strategies
4. Ground Handling Services Market - Macro Economic Scenario
5. Ground Handling Services Market Size And Growth
…..
27. Ground Handling Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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