The global airport ground handling services market is set to gain impetus from the increasing number of smart airport projects, especially in developing countries. In September 2019, for instance, Beijing opened its Daxing International Airport. It resembles Phoenix, the mythological bird and has several technologically advanced features, such as automated bag-drop kiosks and facial recognition systems. This information is given by Fortune Business Insights™ in a new study, titled, “Airport Ground Handling Services Market, 2021-2028.” As per the study, the airport ground handling services market size is projected to reach USD 25.27 billion in 2028 at a CAGR of 7.0% in the forecast period. In 2020, it stood at USD 19.2 billion.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Natural Fragrance Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Natural Fragrance Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity.
A list of prominent airport ground handling services providers present in the global market:
- Dnata (The UAE)
- Menzies Aviation (Scotland)
- Çelebi Ground Handling (Turkey)
- Aviapartner Group (Belgium)
- Swissport International AG (Switzerland)
- Worldwide Flight Services (France)
- Fraport AG (Germany)
- Airport Associates (Iceland)
- Qatar Aviation Services (Qatar)
- AirPart GmbH (Germany)
- Havas Ground Handling Co. (Turkey)
- DAL Global Services, LLC (The U.S.)
Japan, being a disaster-prone country
Japan, being a disaster-prone country, has made some new advancements in construction methods and the construction industry. The moderately growing chemical industry in Japan is expected to help in the industry growth of Glycine Market.
Domestic Segment to Grow Rapidly Stoked by Rising Development of Tourism
Based on services, the market for airport ground handling services is divided into passenger handling, baggage handling, cargo and mail handling, aircraft handling, ramp handling, and others. By the airport type, it is segmented into domestic and international. Amongst these, the domestic segment held 51.17% in terms of the airport ground handling services market share in 2020. The ongoing development of businesses and tourism is set to result in the rising number of domestic flights. Lastly, by the infrastructure type, it is fragmented into greenfield airport and brownfield airport.
The report offers intelligent insights on new product developments, R&D activities, and future technologies. At the same time, it provides in-depth information about recent investments, developments, and untapped geographies. Besides, our analysts have conducted an assessment of manufacturing capabilities, strategies, and shares of reputed airport ground handling services providers.
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Drivers & Restraints-
Increasing Demand for Modern Air Traffic Control Systems to Propel Growth
In developing countries, such as China and India, the number of air travelers is rising constantly. This is set to surge the demand for new airports, especially in smaller cities. Hence, the upgradation of pre-existing airports and the construction of new ones are anticipated to augment the airport ground handling services market growth in the forthcoming years.
Besides, the implementation of modern air traffic control systems, longer runways, and higher gate capacities are gradually resulting in the expansion of airports. According to CAPA- Centre for Aviation, in 2019, the global airport expansion investments were USD 137,254 million. Out of this, approximately USD 62,398.0 million was invested for the development of new airports. However, the requirement of huge initial investments may obstruct the demand for airport ground handling services
COVID-19 Pandemic: Sudden Drop in Air Passenger Traffic May Hamper Demand
The COVID-19 pandemic has severely affected revenue and air passenger traffic across the globe. The Airport Council International mentioned that in the first quarter of 2020, there was a reduction of 620 million passengers. This sudden drop owing to travel bans is likely to affect the airport ground handling services industry. Our accurate reports will help you get a complete picture of the market to tackle the situation effectively.
Key Players Focus on Partnerships and Joint Ventures to Introduce Unique Solutions
The global market for airport ground handling services houses a wide range of vendors that are presently focusing on the strategy of partnership to develop state-of-the-art solutions. Some of the others are aiming to co-develop new services through joint ventures. Below are the two latest industry developments:
- December 2020: Dnata joined hands with Uveya to conduct a proof of concept for taking the aircraft cleaning service to a whole new level. It would use ultraviolet (UV) technologyto sanitize cabins.
- September 2019: AeroGround Flughafen München Gmbh Hand Fraport AG created a joint virtual reality (VR) training tool to assist in ground handling operations. These modules are available in English and German.
Investments in Airport Modernization to Drive Growth in North America
Geographically, North America procured USD 5.43 billion in terms of revenue in 2020. Increasing expenditure on airport modernization programs and the presence of a well-developed aviation industry, as well as the highest number of airports would aid growth in this region. On the other hand, the market in Europe is expected to grow moderately backed by the rising number of travelers in France, the U.K., and Germany. In Asia Pacific, surging investments in the development of new airports would contribute to the increasing demand for airport ground handling services.
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