North America Aircraft Ground Handling System Market is Expected to Witness Exponential Growth During The Next Few Years - Key Players Swissport, SATS Ltd, Celebi Aviation Holding, Cavotec, dnata, Cargotec
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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 system market growth over the forecast timeframe.
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 system market penetration.
Top Company Profiles:
3. John Menzies plc
5. Cavotec SA
7. JBT AeroTech
10. Sats Ltd.
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The cargo handling system will generate maximum revenue and hold its dominance in the aircraft ground handling system 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.
Speaking on the geographical proliferation, North America is anticipated to emerge as a viable revenue ground for aircraft ground handling system market, primarily on account of the rising demand for airport infrastructure development. According to ACI-NA’s (Airports Council International-North America) report, American airports currently require over $128 billion worth of investment in over the next five years for developing new infrastructure to improve travel experience for millions of passengers.
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Aircraft ground handling systems command deployment across several services and operations spanning the aviation sector, such as baggage handling, passenger transportation, aircraft fueling and servicing, de-icing and more. Growing air traffic and the rising air travel proportion in the coming years is thus anticipated to foster market growth. Reports from Global Market Insights, Inc., further estimate that the aircraft ground handling system market will surpass $190 billion by 2025.
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