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Airport Ground And Cargo Handling Service Market is Expected to Surpass USD 29.35 Billion by 2030 at a CAGR of 7.2% from 2022 to 2030; Growth in Air Traffic, Expansion in Airport and E-commerce, and Globalization Drive the Market.
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Westford USA, March 17, 2023 (GLOBE NEWSWIRE) — The Airport Ground and Cargo Handling Services industry is anticipated to grow substantially in the North American and Asia Pacific regions, driven by various factors. These factors comprise the growth in air traffic, the surge in e-commerce, airport expansion, globalization, and government regulations. According to the International Air Transport Association (IATA), the number of passengers is expected to reach 8.2 billion by 2037.
Furthermore, advancements in technology, including automation, artificial intelligence, and robotics, are expected to enhance the efficiency of ground and cargo handling services, creating lucrative growth opportunities. The expansion and upgrading of airport facilities also increase the demand for ground and cargo handling services to support the rising capacity.
According to SkyQuest’s recent global research, airport operators and ground handling companies emphasize sustainability more, incorporating electric and hybrid ground handling equipment, renewable energy sources, and waste reduction programs. This trend indicates promising growth prospects for industries associated with the Airport Ground and Cargo Handling Services market. Moreover, there is a rising inclination towards collaboration and partnerships among airlines, airport operators, and ground-handling companies to optimize operations, decrease expenses, and enhance customer service.
Browse in-depth TOC on “Airport Ground And Cargo Handling Services Market.”
- Pages – 242
- Tables – 91
- Figures – 74
Airport ground and cargo handling services are critical in ensuring airport and air travel’s smooth and efficient operation. They provide the safety and security of passengers and cargo while reducing operational costs and improving the overall customer experience. The significance of airport ground and cargo handling services cannot be overstated in maintaining the efficient operation of airports and air travel. Without efficient ground and cargo handling services, airports would face difficulties handling the volume of air traffic and the complex requirements of modern air travel.
Prominent Players in Airport Ground And Cargo Handling Services Market
- Swissport International Ltd.
- Menzies Aviation plc
- dnata
- Worldwide Flight Services (WFS)
- SATS Ltd.
- Air France – KLM
- Lufthansa Cargo AG
- Cathay Pacific Services Limited
- China Eastern Airlines Corporation Limited
- Ground Handling International (GHI)
- ASIG (Aviation Services International Group)
- BBA Aviation plc
- Celebi Aviation Holding Inc.
- Cargo Airport Services (CAS)
- AeroGround Flughafen München GmbH.
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Air cargo and Mail Handling Service Segment to Drive Higher Sales as there is a Rising Need For Air Freight to Transfer Items in Emergencies such as Natural Calamities.
As per a recent analysis, the Air cargo and mail handling services category has emerged as a critical player in driving the Airport Ground and Cargo Handling Services market’s rapid growth in 2021. This trend is expected to continue from 2022 to 2030, with the segment maintaining its dominant position in the market. With the increasing requirement for air freight to transport emergency medical supplies during pandemics and natural disasters, the demand for Airport Ground and Cargo Handling Services is predicted to grow considerably.
According to the SkyQuest’s research analysis, North America had the largest share in the base year of USD 11,37 Billion. Anticipating the increasing drivers, It will dominate the Airport Ground and Cargo Handling Services market from 2022 to 2030. Several factors, including the highest concentration of airports, a flourishing aviation business, and increased airport modernization spending, fueling the region’s growth. SkyQuest’s report suggests that implementing safety and security regulations by the North American governments will further drive market Demand. Additionally, many regional airports are expanding and upgrading their facilities to accommodate the passenger and cargo traffic surge following the pandemic.
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Cargo Airlines End-User Segment to Exhibit Strong Growth Due to the Rise of E-Commerce and Growth of the Global Trade Market.
The cargo airlines segment is experiencing the fastest growth in the airport ground and cargo handling market due to the surge of e-commerce and expansion of the global trade market. This growth has resulted in a substantial increase in air cargo volume. As a result, cargo airlines increasingly need ground-handling services that will guarantee efficient cargo handling, loading, and unloading. This trend is fueling the growth of the airport ground and cargo handling services market.
The Asia Pacific region has emerged as a significant player in the Airport Ground and Cargo Handling Services market and is projected to maintain its leading position by 2030. This growth can be attributed to several factors, including the increasing demand for air travel, rising trade activities, government initiatives promoting air cargo, and investments in airport infrastructure. China’s newly constructed Beijing Daxing International Airport commenced operations in September 2019. Meanwhile, India’s upcoming Boga Plum Greenfield Airport is slated to open shortly. Moreover, adopting advanced technology and automation may also enhance cargo handling and ground operations efficiency, which could drive the growth of the airport, ground, and cargo handling services industry, including the Isha Pacific segment.
According to a recent report on the Airport Ground and Cargo Handling Services market, the major players in the industry have been comprehensively analyzed. The report delves into various aspects, such as collaborations, mergers, innovative business policies, and strategies, which provide valuable insights into the key trends and significant breakthroughs in the market. Additionally, the report offers a detailed analysis of the market share of the top segments and an in-depth examination of the geographic landscape. The report also highlights the major players in the industry and their efforts to develop innovative solutions to meet the growing demand in the market.
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Key Developments in Airport Ground And Cargo Handling Services Market
- Alliance Ground International (AGI), a company specializing in cargo ground handling, has acquired Airport Terminal Services (ATS), an aviation service provider in North America. This acquisition is part of AGI’s ongoing growth strategy in the region.
- Holland & Knight legal advisory firm, has guided Alliance Ground International LLC (AGI), a joint venture between Audax Management Company, LLC and Greenbriar Equity Group, in its acquisition of Airport Terminal Services (ATS).
Key Questions Answered in Airport Ground And Cargo Handling Services Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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