PUBLISHER: The Business Research Company | PRODUCT CODE: 1425210
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425210
Airport Ground And Cargo Handling Services Global Market Report 2024 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 airport ground and cargo 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 airport ground and cargo 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 airport ground and cargo 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.
Airport ground and cargo handling services encompass various forms of assistance aimed at facilitating an aircraft's ground repositioning, preparation, and completion of a flight. These services include both customer service and ramp service activities. The primary goal of ground handling services is to enhance the speed, efficiency, and precision of these processes, ultimately reducing the turnaround time for airplanes. This improvement contributes to the airport's overall capability to provide excellent customer service.
The main types of airports in the context of ground and cargo handling services are domestic and international. A domestic airport primarily handles flights within the same country, typically featuring short runways suitable for fast or medium-haul aircraft and regional aviation activity. Services provided at domestic airports include passenger handling, baggage handling, cargo and mail handling, as well as aircraft handling and ramp handling. These services are applicable to both greenfield (newly developed) and brownfield (existing) airports.
The airport ground and cargo handling services market research report is one of a series of new reports from The Business Research Company that provides airport ground and cargo handling services market statistics, including airport ground and cargo handling services industry global market size, regional shares, competitors with a airport ground and cargo handling services market share, detailed airport ground and cargo handling services market segments, market trends and opportunities, and any further data you may need to thrive in the airport ground and cargo handling services industry. This airport ground and cargo 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.
The airport ground and cargo handling services market size has grown strongly in recent years. It will grow from $23.82 billion in 2023 to $25.82 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth observed in the historical period can be attributed to various factors, including the implementation of safety and security measures, heightened market competition, global trends in trade, increasing environmental concerns, and the expansion of air travel. These elements collectively contributed to the development and evolution of the airport ground and cargo handling services sector during that timeframe.
The airport ground and cargo handling services market size is expected to see strong growth in the next few years. It will grow to $35.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be attributed to dynamic changes in global trade, an increased demand for specialized services, sustainability initiatives, a heightened focus on contactless solutions, and the ongoing recovery in air travel. Major trends expected in the forecast period include strategic collaborations among industry players, continuous product innovations, advancements in material technologies, a concentrated effort on efficiency and cost reduction, a strong emphasis on safety and security measures, as well as the formation of airline alliances and partnerships to enhance overall operational effectiveness in the airport ground and cargo handling services sector.
Leading companies within the airport ground and cargo handling services market are intensifying their focus on innovating new products, particularly services tailored for battery-powered support equipment, aiming to expand their customer base, enhance sales, and augment overall revenue. Battery-powered support equipment services involve offering maintenance, repair, and operational assistance for machinery or vehicles relying on battery-powered systems. For instance, in October 2022, UL Solutions, a US-based safety science company, introduced a service and standard designed to assess electric ground support equipment operating on lithium-ion batteries at airports. A distinctive aspect of this service is its ability to align electric ground support equipment with the UL 5840:2022 Standard, which lays down precise safety requirements addressing fire, electric shock, and explosion hazards linked to lithium-ion battery-powered airport ground support equipment. This innovative service also provides guidelines for retrofitting lithium-ion batteries into conventional diesel-powered equipment during fleet upgrades. This unique solution effectively mitigates potential issues related to the use, installation, and maintenance of lithium-ion batteries in ground support equipment, facilitating ground handlers in accelerating the adoption of battery-powered solutions and ultimately reducing airfield emissions.
Anticipated growth in global trade is poised to significantly contribute to the expansion of the airport ground and cargo handling services market. Global trade encompasses the exchange of goods, services, and capital across international borders, driving increased movement of goods necessitating efficient handling at airports. For instance, in September 2023, as per the report by the United Nations Conference on Trade and Development, maritime trade is projected to increase by 2.4% in 2023 and further rise by over 2% from 2024 to 2028. Amid the loosening of pandemic constraints, the energy sector observed a 6.0% increase in oil trade and a 4.6% rise in gas trade in 2022. Consequently, this surge in global trade activity is propelling the growth trajectory of the airport ground and cargo handling services market.
The rising demand for air freight cargo due to factors like shifting consumer preferences and the flourishing E-commerce industry is expected to be a key driver for the growth of the airport ground and cargo handling services market. Air freight cargo involves the transport of goods via chartered or scheduled air carriers and has gained traction owing to its swift and same-day delivery services, necessitating efficient ground and cargo handling services at airports. For instance, in January 2022, a report from the International Air Transport Association (IATA) highlighted a 6.9% increase in global air cargo demand throughout 2021. This surge in air freight cargo necessitates streamlined ground and cargo handling services at airports to minimize turnaround time, reducing emissions and enhancing operational efficiency. Hence, the growing demand for air freight cargo is poised to drive the airport ground and cargo handling services market.
Prominent entities within the airport ground and cargo handling services market are adopting a strategic partnership approach, aiming to implement hydrogen power for ground support equipment at airports. Strategic partnerships denote collaborations where companies leverage each other's strengths and resources for mutual benefits and successes. As an example, in October 2023, Universal Hydrogen, a US-based aerospace company, forged a partnership with JBT AeroTech Corporation, a US-based provider of aviation ground support products. This collaboration's primary focus is the development and advancement of H2AmpCartTM, a mobile battery charger powered by a hydrogen fuel cell specifically designed for current electrified Ground Support Equipment (GSE) at airports. Universal Hydrogen brings its modular hydrogen delivery system, initially designed for hydrogen-powered aircraft but adaptable for ground equipment, providing hydrogen fuel services to H2AmpCartTM users worldwide at airports, eliminating the need for additional on-airport infrastructure.
In August 2022, Alliance Ground International (AGI), a US-based cargo ground handling company, acquired Airport Terminal Services (ATS) in a transaction of undisclosed value. This strategic acquisition aligns with AGI's ongoing developmental strategy in North America's passenger operations sector. The incorporation of ATS enables AGI to bolster its presence within airport terminals and engage with travelers by enhancing customer service, optimizing operational efficiencies, and delivering increased value to its customer base. Airport Terminal Services is a US-based aviation company specializing in ground, baggage handling, and cargo handling services.
Major companies operating in the airport ground and cargo handling services market report are Aviapartner N.V., Swissport International AG, Worldwide Flight Services Inc., Alvest Group Company Limited, Mallaghan Engineering Limited, MULAG Fahrzeugwerk GmbH & Co. KG, Weihai Guangtai Airport Equipment Co. Ltd., JBT AeroTech Corporation, Fraport AG Frankfurt Airport Services Worldwide, Airport Associates, John Bean Technologies Corporation, ADELTE Group SL, Cavotec SA, Vestergaard Company A/S, Cargotec Corporation, Dubai National Air Transport Association, Havas Ground Handling Company, AeroGround Flughafen Munchen GmbH, Aeroporti di Roma S.p.A., Air France-KLM, Air India SATS Airport Services Private Limited, Air Serv Corporation, Alliance Ground International, Flightcare Global, Goldair Handling, Thai Airways International Public Company Limited, Transworld Aviation Limited, Turkish Ground Services A.S., United Ground Express Inc., Universal Aviation Aircraft Services Inc.
North America was the largest region in the airport ground and cargo handling services market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airport ground and cargo handling services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the airport ground and cargo handling services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The airport ground and cargo 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 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.