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Aircraft Ground Handling Systems Market 2024 - By Size, Share, Industry Growth Analysis Report By 2033
Aircraft Ground Handling Systems Market
According to The Business Research Company's, The aircraft ground handling systems market size has grown strongly in recent years. It will grow from $168.82 billion in 2023 to $180.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to customer experience enhancement, safety and security concerns, focus on operational efficiency, globalization of air freight, evolution of airport infrastructure.
The aircraft ground handling systems market size is expected to see strong growth in the next few years. It will grow to $226.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to rise in air passenger traffic, expansion of fleet size, shift towards sustainable solutions, demand for efficient turnaround times, infrastructure development. Major trends in the forecast period include automated ground handling equipment, electric and eco-friendly equipment, advanced baggage handling solutions, enhanced safety measures, focus on operational efficiency.
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Market Drivers and Trends:
The growing demand for air travel is expected to boost the growth of the aircraft ground handling systems market going forward. Air travel refers to traveling by aircraft from one location to another. This form of transportation involves using airplanes, helicopters, or other aircraft types to transport passengers and cargo through the air. Airlines must ensure that all procedures that take place before take-off and after landing are on time and safe, which is enabled by the aircraft's ground handling systems. These systems ensure that flights are punctual and there is no security for any party involved. For instance, in February 2023, according to International Air Transport Association (IATA), the Canada-based trade association, the global total air traffic increased by 39.7% compared to December 2021. Further, European carriers saw a surge in air traffic demand by 46.5% during the same period. Therefore, the growing demand for air travel is driving the growth of the aircraft ground handling systems market going forward.
Major companies operating in the aircraft ground handling systems market are developing new solutions for airfreight operations to gain a competitive edge in the market. Airfreight operations refer to the entire process of transporting goods or cargo by air, involving the planning, coordination, and execution of various tasks related to the shipment. For instance, in May 2023, Etihad Airways, a UAE-based airline company, launched AI-powered solutions to simplify airfreight operations and optimize cargo capacity. The AI tools, including Amplifi for load optimization, Cargo Eye for real-time cargo information digitization, and Assemble for digital ULD planning, aim to enhance efficiency, standardize cargo handling processes, and improve service levels for Etihad Cargo's customers and partners. The move is part of Etihad Cargo's digitalization strategy to create an information-rich network and provide a seamless end-to-end experience.
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Major Key Players of the Market:
AERO Specialties Inc.; Aviapartner N V; Bhadra International India Pvt. Ltd.; Celebi Havacilik Holding A.S.; Dubai National Air Travel Agency; IMAI Aero-Equipment Mfg. Co. Ltd.; John Bean Technologies Corporation; John Menzies Limited; Mallaghan Engineering Ltd.; RampSnake AS; SATS Ltd.; Swissport International Ltd.; Air+Mak Industries Inc.; BlissFox - Panus Assembly Co. Ltd.; Weihai Guangtai Airports Equipment Co. Ltd.; Cavotec SA; Textron Inc.; Air T Inc.; ADELTE Group SL; Tronair Inc.; Motor Universal Lasten-Arbeitsgerate; Vestergaard Company; Ground Support Specialists LLC; Oceania Aviation Ltd.; Kalmar Motor AB; Mototok International GMBH; Daifuku Co. Ltd.; Svenska Aeroplan Aktiebolaget; Bharat Earth Movers Limited; Cargotec Corporation
Aircraft Ground Handling Systems Market 2024 Key Insights:
• The aircraft ground handling systems market will grow to $226.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Rising Demand For Air Travel To Drive Market Growth
• Product Innovations Transforming The Aircraft Ground Handling Systems Market
• North America was the largest region in the aircraft ground handling systems market in 2023
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