Cargo aircraft ground handling system market to witness a massive growth over 2017-2024, North America to dominate the regional landscape
Aircraft Ground Handling System Market is expected to witness a notable surge over the years to come, driven by the launch of new technologies to reduce operational delays at airports along with improved infrastructural facilities. Intensified requirement for handling cargos, aircraft, and passengers as a result of a massive rise in the number of passengers travelling via aircraft are predicted to further boost the business landscape. As per IATA (International Air Transport Association), nearly 3.7 billion passengers had travelled via aircraft in 2016, recording an increase of 6.7% in the number of air travelers as compared to the estimates of 2015. Efficient handling methods coined by airlines and service providers to provide low-cost & safe packaging for consumable goods of the passenger, will further boost aircraft ground handling system market trends. According to Global Market Insights, Inc., “Aircraft ground handling system industry size, worth USD 110 billion in 2016, is set to hit a targeted revenue of USD 185 billion by 2024.”
U.S. Aircraft Ground Handling System Market, By Product, 2016
The incorporation of IoT in aircraft ground handling systems for supporting the ground functions along with the ability of new software programs to fulfill the specific requirements of the ground handling systems are expected to enlarge the business scope. Optimum use of green energy technology to power ground handling devices is also expected to contribute significantly toward aircraft ground handling system industry development.
Taking into consideration the geographical trends, Latin America aircraft ground handling system market share is expected to witness a lucrative surge over the years to come, subject to the fact that LATAM air traffic increased by 7.4% in 2016. Brazil aircraft ground handling system market is likely to boost the regional revenue.
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Asia Pacific aircraft ground handling system industry, which contributed more than 25% of the overall industry share in 2016, is projected to experience a significant growth over the coming timeline. Escalating population, an increase in the air travel frequency, and growing urbanization are some of the factors forecast to favorably influence the development trends.
MEA aircraft ground handling system market is anticipated to experience a striking expansion over the years ahead, driven by globalization resulting in the large-scale development of airline business along with strict legislations supporting the use of safe & effective ground handling devices.
Europe aircraft ground handling system industry is projected to experience an accelerating growth over the coming seven years, subject to an increase in the number of new aircrafts resulting in the allocation of more budgets for constructing high-grade airports & runways. France and Germany, which jointly accounted for nearly 40% of Europe aircraft ground handling system industry share in 2016, are expected to significantly influence the business space.
North America aircraft ground handling system market is forecast to retain its leading position over the next few years, owing to the increasing efforts made by the airport authorities to increase the operational efficiency and thus ensure passenger satisfaction.
Aircraft handling, passenger handling, and cargo handling are the major products of aircraft ground handling systems. Cargo handling systems, which dominated the product landscape in 2016, are expected to contribute a major chunk toward aircraft ground handling system industry share over the coming timeframe. Mounting need for swift transportation of materials is expected to elevate the product demand.
Market players are trying to gain a competitive advantage through strategic alliances, high R&D investments, and product portfolio expansion. For instance, in the first quarter of 2017, SATS Limited, a ground handling & in-flight catering service provider based in Singapore, formed a strategic alliance with Hong Kong Airlines for helping them effectively manage cargo and ramp services. To cite another such example, in May 2017, Swissport International Limited, a Switzerland based aviation services firm, collaborated with TCS, an Indian multinational corporation providing IT services, to improve its airport IT infrastructure facility.
Dnata, Cargotec Oyj, RampSnake, Cavotec SA, JBT AeroTech, SATS Limited, PrimeFlight Aviation services, John Menzies plc, and Swissport International Limited are the key participants of aircraft ground handling system industry.
Author Name : Dhananjay Punekar