The aviation sector is fast-moving and unpredictable. The COVID-19 pandemic has certainly brought the aviation industry to her knees in every sense of the word. But the resilience and ability of the sector to learn from experiences and bounce back have been proven from time and time again.
The Airport Ground Handling Systems Market is valued at USD 2911.03 million in 2021 and is poised to reach USD 6879.59 million by 2027, growing at a CAGR of 15.27% during the forecast period (2022 – 2027).
Airports are continuously face lifting the sector to enhance facilities and customer service. Low commodity prices, steady GDP growth and high passenger demand are other important factors accelerating industry growth. Airport infrastructure development, growth in the aviation sector and shifting trends in replacing traditional aircraft systems with advanced efficient systems are driving product demand.
To say rising per capita disposable income mostly in developing nations coupled with lower air fares has had a positive effect on the aircraft ground handling system market as per the industry experts. Challenges such as changing customer behavior, rising demand for quality services, along with initial set-up costs, could hamper the growth of the industry. A strong infrastructure is a high requisite due to increasing flight travel and a key challenge faced by most airlines.
The aircraft ground handling segment currently dominates the market and is expected to continue its dominance during the forecast period. The segment includes refuelers, tugs and tractors, lavatory service vehicles, deicers, ground power units, pre-conditioned air units, fuel trucks, and other ground handling systems in airports. With cargo handling being the leading segment to dominate the market during the forecast period due to the increased passenger and freight traffic is expected to boost demand in the commercial aviation market Geopolitical uncertainty may push the requirements for the expansion of national security aircraft fleets, driving the demand for ground handling aircraft.
Following the pandemic, various airports around the world are robustly investing in the enhancement of their existing ground handling systems with the introduction of new equipment for their efficient operation. The current trend of using GSE with low emissions rates and creating green airports has been gaining popularity over the years. Therefore, the companies are working on developing new electric aircraft handling solutions that work efficiently with low emissions.
Due to the presence of numerous players providing wide range of ground handling systems the airport ground handling systems market is highly fragmented. Strategic acquisitions and partnerships, along with the establishment of manufacturing and production facilities locally, have turned helpful for the key players to establish a foothold in the local and international markets. The demand for increased capability of ground handling personnel and facilities is projected to increase air traffic
The current plans of airports to decrease their carbon footprint has accelerated the deployment of electric ground handling equipment and the integration of advanced technologies like automation systems ramp and cargo handling operations. Such green initiatives by airport operators are expected to accelerate the market’s growth in the coming years.
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Reference: Industry Sources