PUBLISHER: The Business Research Company | PRODUCT CODE: 1270377
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270377
“Ground Handling Services Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ground handling services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ground handling services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The ground handling services market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the ground handling services market are Mallaghan Engineering Ltd., Cavotec SA, JBT Corporation, Cargotec Oyj, SAAB Group, Beumer Group, Weihai Guangtai Airport Equipment Co.Ltd., Aviapartner, TAV Airports Holding, Skyplan Services Ltd., Aerospace Jet Group, AFS Ground Handling Ltd., Vision Aviation Global, Belau Transfer and Terminal Company, AN Aviation services CO., AvJet International (FZE), Proground GmbH, and Myanmar National Airlines.
The global ground handling services market is expected to grow from $24.94 billion in 2022 to $26.29 billion in 2023 at a compound annual growth rate (CAGR) of 8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ground handling services market is expected to grow to $34.30 billion in 2027 at a CAGR of 6.9%.
The ground handling services market includes revenues earned by entities providing refueling aircraft services, towing aircraft, cleaning, marshalling and parking. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The ground handling services refer to a variety of assistance given to assist an aircraft for ground repositioning, preparation, and completion of a flight, including customer service and ramp service activities. Ground handling services' primary objective is to increase speed, efficiency, and precision while decreasing the turnaround time of airplanes. It improves the airport's capabilities to provide customer service.
North America was the largest region in the ground handling services market in 2022. The regions covered in the ground handling servicesreport are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of ground handling services include ground handling, passenger ground handling, ramp handling and others. Ground handling services cover the gamut of flight and passenger services offered during an aircraft's layover at an airport. The various airports include international and domestic and these are applied in civil and military applications.
The increased demand for air freight cargo is expected to propel the growth of the airport ground and cargo 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 compared to 2019 (pre-covid levels) and 18.7% compared to 2020. Therefore, an increase in demand for air freight cargo will drive the airport ground and cargo handling services market.
Technological innovation are a key trend gaining popularity in the ground handling services market. Major players are concentrating on creating innovative equipment technologies products, such as electric material handling equipment to strengthen their position. For instance, in May 2022, Linde Material Handling, a Germany-based manufacturer of forklift trucks and warehouse equipment company, introduced electric heavy-duty forklift trucks with load capacities ranging from 10 to 18 tonnes. This innovative, compact, heavy-duty truck series is built on the eight-ton range and includes a double drive, double lifting hydraulics, two batteries, and scaled pumps.
In August 2022, Alliance Ground International (AGI), a US-based provider of airline cargo handling services acquired Airport Terminal Services (ATS) for an undisclosed amount. This acquisition would assist both companies to increase their presence at the airport terminal and on the passenger side of the business thanks to this opportunity with ATS. ATS supports AGI in maximizing customer service, streamlining operations, and enhancing value for all of our clients. Airport Terminal Services (ATS) is a US-based company operating in the ground handling services market.
The countries covered in the ground handling services market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The ground handling services market research report is one of a series of new reports from The Business Research Company that provides ground handling services market statistics, including ground handling services industry global market size, regional shares, competitors with a ground handling services market share, detailed ground handling services market segments, market trends and opportunities, and any further data you may need to thrive in the ground handling services industry. This ground handling services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.