PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279726
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279726
Global Ground Handling Software Market is valued approximately at USD 3.11 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.56% over the forecast period 2022-2029. Ground handling software refers to software systems that are used in managing and coordinating ground handling activities at airports. These software systems are designed to help ground handling companies and airport operators automate and streamline their processes, improve efficiency, and enhance safety and security. The Ground Handling Software market is expanding because of factors such as increasing air passenger traffic and growing investments for the upgrade of IT infrastructure at airports.
Ground handling software systems typically integrate with other airport systems, such as airport operational databases, flight information display systems, and security systems, to provide a comprehensive solution for managing ground handling operations. Its prevalence has progressively increased during the last few decades. According to the Statista, In India, there were over 400 airports and airstrips, while 153 were operational. Passenger traffic reached over 188 million at airports across India in financial year 2022, out of which over 22 million were international passengers. Furthermore, in 2021, it is estimated that the number of air passengers traveling to and from the U.S. was valued around 99 million. Another important component driving space increase is investments for the upgrade of IT infrastructure at airports. For instance, in Feb the Federal Aviation Administration is awarding nearly USD 1 billion to 99 airports of all shapes and sizes across the country. The funding helps meet the growing demand for air travel and invests in key areas to help get travelers in and out of airports more quickly and improve the passenger experience by investing in new baggage systems, larger security checkpoints and improved ground transportation. In addition, the government of India intends to expand the number of airports in the country as per Airports Authority of India's, about USD 2.89 billion of fund will be used to expand airports and construct new terminals in the country. The government also intends to increase the number of airports in the country to 200. Also rising government initiatives in Airport Management and rising demand for accurate and precise information of airport ground operations would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Ground Handling Software stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Ground Handling Software Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the increase in investments in newer airport constructions. According to the Statista, As of March 2022, Asia Pacific still was the region with the highest spending in current airport construction, amounting to over USD 227 billion. Furthermore, North America is expected to grow with a highest CAGR during the forecast period, owing to the presence of key market players and rising investment by private and government organizations in software development in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable