Aircraft Ground Handling System Market to hit $185bn by 2024
Published Date: June 12, 2017 Author: Global Market Insights, Inc.
Aircraft Ground Handling System Market size is set to reach USD 185 billion by 2024, according to a new research report by Global Market Insights, Inc.
The growing demand for quality solutions and products due to technological advancements and changing consumer behavior have increased aircraft ground handling system market demand. Manufacturers offer solutions and high-end products that can cater to current business demands and overcome the challenges faced by the end users.
According to the International Air Transport Association (IATA), about 3.7 billion passengers have traveled by air in 2016 owing to an average reduction in return fares. The ten-year annual growth rate was 5.5% and the passengers’ traffic rose to 6.7% in 2016 as compared to 2015. Increasing air travel will lead to the aircraft ground handling system market demand for handling cargo, passengers, and aircraft.
Airlines and service providers have developed effective handling techniques for perishable products and provide shippers with cost-effective and optimum packaging methods. Passenger handling includes various services including ticketing, baggage check-in, boarding, passenger assistance, security screening, and special services. Passenger handling equipment includes towable stairs, passenger buses, etc.
The major challenge faced by the government is to meet the infrastructure demand for rising air travel by providing the necessary infrastructure. Heavy investments in the equipment used in aircraft and cargo handling systems will restrain the aircraft ground handling system market growth over the forecast timeline as the equipment has a lifecycle of about 6-10 years.
The ground support equipment industry faces constant threat of collisions with aircraft, causing huge losses. Thus, manufacturers use innovative technologies, such as Aircraft Proximity Detector (APD), for avoiding these collisions and ensuring efficient operations.
The major aircraft ground handling system market players are investing heavily in R&D activities for various sustainable equipment including battery-operated trucks and tugs for the reduction in carbon emissions and fuel consumption costs. The usage of advanced optimizations equipment and software programs are increasing as they are synchronized to handle increasing traffic.
Browse key industry insights spread across 110 pages with 50 market data tables & 29 figures & charts from the report, “Aircraft Ground Handling System Market Size By Product (Passenger Handling, Cargo Handling, Aircraft Handling), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, Brazil, Mexico, Middle East, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Passenger handling is anticipated to witness significant growth over the forecast timeframe owing to increased passenger traffic coupled with the prominence of air travel. Cargo management is expected to account for the highest aircraft ground handling system market share owing to the increasing demand for quick material transportation.
Latin America air traffic has increased by 7.4% in 2016. Despite the political and economic uncertainties in the region’s largest industry, Brazil, the Latin American air traffic showcased growth. The domestic travel accounted for 46% of the operations from Brazil.
The Middle East and Africa aircraft ground handling system market size is predicted to witness exponential growth in upcoming years owing to favorable regulatory scenario regarding secure and efficient equipment. Moreover, increasing globalization has led to an expansion of airline businesses across regions, fueling the industry growth in this region.
Mergers and acquisitions are other strategies adopted by the manufacturers to expand their geographical presence. For instance, in December 2016, Dnata announced the acquisition of 50% shares of GTA Aviation’s ground and cargo handling operations at Toronto Pearson Airport. This acquisition helped Dnata to expand its presence in Americas and fulfill its strategy to provide the highest level of customer service across the region.
Aircraft ground handling system market research report includes in-depth coverage of the industry with estimates & forecast in terms of global revenue in USD from 2013 to 2024, for the following segments:
Aircraft Ground Handling System Market By Product
- Passenger handling
- Cargo handling
- Aircraft handling
The above information is provided on a regional basis for the following:
- North America
- Asia Pacific
- Latin America
- Middle East
- South Africa