The rising trends of urbanization and modernization have led to a rise in air transportation. Aircraft ground handling system market has been gaining considerable popularity of late, pertaining to the increasing consumer spending power and a relatively fast-moving lifestyle. Favorable initiations taken by the government as well as airport authorities to provide comfort and luxurious facilities to passengers will stimulate aircraft ground handling system industry share. According to Global Market Insights, Inc., “Worldwide aircraft ground handling system market was valued USD 110 billion in 2016 and will collect a revenue of 185 billion by 2024 with considerable annual growth rate.”
Most of the industry giants are investing heavily to bring about technological enhancements in the handling system to avoid aircraft collisions with ground handling equipment. The emergence of IoT and the implementation of proximity sensors in the system will help to improve the handling facility and avoid collisions. The noteworthy players in aircraft ground handling system market are John Menzies, Air+MAK, Swissport, Dnata, Celebi Aviation, SATS Ltd., PrimeFlight, Bhadra International, JBT AeroTech, Cavotec SA, and CargoTec.
U.S. Aircraft Ground Handling System Market, By Product, 2016
Airport authorities across APAC are increasingly implementing innovative technologies in aircraft systems to provide efficient services to the passengers. Asia Pacific aircraft ground handling system market covered more than 25% of the regional share in 2016 and will generate notable revenue with a considerable annual growth rate over the period of 2017 to 2024. It has been observed that of late, the APAC population has been giving preference to the air transit, owing to the growing urbanization and rise in population. In addition to this, government and airport authorities are looking forward to expanding airports and are also investing heavily in airport infrastructural development, which will boost aircraft ground handling system industry size.
To provide ideal and cost-effective handling systems for carrying perishable products, service providers and airlines have adopted improved handling techniques. Passenger handling includes baggage check-in, security screening, ticketing, special services, passenger assistance, and boarding. Passenger aircraft ground handling system industry will collect noticeable revenue by the end of 2024, owing to the rising number of passengers along with the shifting focus of consumers toward air travel. Passenger buses and towable stairs are some of the chief equipment used for handling passengers.
Many new aircraft companies have been introducing air vehicles to fulfil increasing need of transportation, mainly across Europe. Europe aircraft ground handling system market will generate considerable revenue over the years ahead, pertaining to the rising number of passengers inclined toward air travel and the escalating investments in the development of additional runways and advanced airports. France and Germany are the prominent revenue contributors, having collectively covered 40% of the regional share in 2016.
Aircraft ground handling system market from aircraft handling will record a substantial CAGR over the coming seven years. To comply with growing number of passengers and fleets, airport authorities are favoring the implementation and development of innovative ideas to provide better service to passengers. Aircraft handling equipment consists of tow tractors, hydraulic testing units, re-fuelers, chocks, de-icing, tow bars, anti-icing system, and jet air starter. Cargo handling is another lucrative product segment of aircraft ground handling system market, which dominated the revenue share in 2016. Surging adoption of this product will augment the aircraft ground handling system industry growth.
North America is a lucrative avenue that fuels the demand for all kinds of handling equipment such as cargo, passenger, and aircraft on a large scale. North America aircraft ground handling system market is slated to dominate the global landscape over the years ahead, primarily driven by the technical improvements to enhance operational efficiency.
Growing awareness regarding the hazardous effects of carbon emissions and the deployment of stringent norms to reduce the same have brought about a massive change in the business perspective of market players toward the development of battery operated tugs and trucks. Many of the industry giants are now looking forward to develop software based equipment to handle the rising traffic.