North America aircraft ground handling market share will hold dominance over forecast timeframe. Increasing shift towards enhancing efficiency of operation demands of rising passenger traffic and infrastructural development to support cargo activity will generate more revenue. For instance, in October 2018 Edmonton International Airport (EIA) of Canada expanded their infrastructure facility to support cargo facility. Additionally, air passenger traffic in region are stimulating the expansion of airport infrastructure and development of new airports. For instance, in February 2019, government approved investment of USD 1.1 billion to remodel Pittsburgh International Airport to make departures faster and accommodate higher passenger traffic.
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The rising trends of urbanization and modernization have led to a rise in air transportation. aircraft ground handling 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 market share. According to Global Market Insights, Inc., “Worldwide aircraft ground handling market was valued USD 110 billion in 2016 and will collect a revenue of 185 billion by 2024 with considerable annual growth rate.”
The growing adoption of innovative technologies including cloud computing and Internet of Things (IoT) in ground handling systems will help airport operators for faster services. The smart baggage tags concept utilizes IoT to track baggage locations for passengers as well as airport operators. Additionally, it provides information regarding the arrival of baggage after the flight landing. The cloud computing technology enables ground operators to integrate all data of airports on a single platform to enhance the operational accuracy. These technological integrations will support the aircraft ground handling market growth over the forecast timeframe.
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The cargo handling system will generate maximum revenue and hold its dominance in the aircraft ground handling market over the forecast timeframe. This can be credited to the growing air cargo activities across the globe. IATA announced in their cargo strategy report 2018 that the air cargo industry accounts for 35% of the global trade value in 2017. The pharmaceutical industry is significantly relying on air cargo services owing to the speedy transportation of high-value and temperature-sensitive products such as vaccines. In 2017, the pharmaceutical industry spent USD 13.4 billion on temperature-controlled cargo.
The passenger handling system is estimated to generate significant revenue by 2025. The segment is showing a significant growth rate owing to the growing air travel for business & tourism activities. The passengers demanding faster & advanced services from airline operators will force the operator to invest in the passenger handling system. The IATA has forecast that the air passenger traffic will reach USD 7.8 billion by 2036. All these will support the aircraft ground handling market penetration.
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Major industry participants in the aircraft ground handling market place includes Sats Ltd., Swissport, Celebi, Bhadra International, John Menzies PLC, Dnata, and Air+Mak. The other notable players the industry includes, Cavotec SA, CargoTec, RampSnake, PrimeFlight and JBT AeroTech. Contracts with airline operators are among the prominent strategy adopted by industry participant to increase their market share.
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