The global ground and cargo handling services market is projected to reach revenues of $32 billion by 2023, growing at a CAGR of approx. 6% during 2017-2023.
CHICAGO, IL, UNITED STATES, October 8, 2018 /EINPresswire.com/ — Arizton's market research report on the global ground and cargo handling services market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by service type (ground handling and cargo handling), by airplane type (passenger airlines, cargo airlines, and chartered airlines), and geography (APAC, Europe, North America, Latin America, and MEA).
China is among the fastest growing regions with the rise in outbound air passengers, a strong economy, the opening of new routes, and the growing middle-class population in the global market. The increasing popularity of tourism and leisure activities across countries such as Myanmar, Vietnam, and South Korea will have a positive impact on the development of the ground handling services market over the next few years. The ground and cargo handling services market are driven by the increasing number of air travelers, both domestic and international, as well as air cargo tonnage. The growing number of air passengers directly drive the demand for effective ground handlers and cargo handlers in the global ground handling services market. The market research report provides in-depth market analysis and segmental analysis of the global ground and cargo handling services market by service type, airplane type, and geography.
The report considers the present scenario of the global ground and cargo handling services market and its market dynamics for the period 2018−2023. It offers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the ground handling services market.
Ground and Cargo Handling Services Market – Dynamics
The increasing investment by the aviation ministries and players for the development and establishment of new airports is augmenting the growth of the global ground handling services market. These new airports are designed to break the idea of airports being seen as just terminals for passengers to arrive and depart. The airports are the base of operations for cargo handlers, baggage handlers, ground services, ramp handling, and other such services. Some of the innovations are in the field of harmonization of communication channel and standards between the airport, airlines, and the ground handlers, baggage screening, sorting, and tracking, and GSE pooling. The vendors are leveraging technological innovations to improve the passenger experience and upgradations in the airplane and flight systems in the market. Such innovations will boost the growth of the global ground handling services market. The recent revival and boom of the air freight industry will contribute to the growing revenues in the global ground handling services market. The increasing demand for cross-country perishable goods and parcel services will attribute to the growth of the cargo handlers and ramp handlers in the market.
Top trends, drivers, restraints impacting the market growth that are discussed in the report are:
Ground and Cargo Handling Services Market Growth Enablers
o Booming Air Travel and Freight Industry
o Increase in Seat Capacity and Airlines Fleet
o Increased Focus Among Airlines to Reduce Turnaround Times
o Establishment of New Airports and Stations
Ground and Cargo Handling Services Market Growth Restraints
o Financial Stress on Airlines and Volatility in Fuel Prices
o Scarcity of Skilled Workforce
o Halt of Airport Operations
Ground and Cargo Handling Services Market Opportunities & Trends
o Innovations in Ground and Cargo Handling Systems and Equipment
o Increasing Amount of Freight in Passenger Airlines
Ground and Cargo Handling Services Market – Segmentation
This market research report includes a detailed segmentation of the market by service type, airplane type, and geography. The airline type segment in the cargo handling services market is classified as passenger airlines, cargo airlines, and chartered airlines. Cargo airlines segment occupied the second largest market share in 2017, growing at a CAGR of around 6% during the forecast period. Cargo handling services in the global market include unloading of cargo, cleaning, fueling, and loading new cargo to ready the airplane for its next flight.
The cargo handling services market by service type is divided into ground handling and cargo handling. Cargo services dominated more than 1/3rd of the market share in 2017, growing at a CAGR of over 5% during the forecast period. The growing demand for delivering perishables and temperature controlled items at a stipulated time is augmenting the growth of this segment in the global market. The cargo services include handling of freight, movement of freight on the apron, handling of mail and documents, trucking services, warehousing on cargo airports, loading and unloading of cargo, road feeding, and GSSA services.
Market Segmentation by Service Type
• Ground Handling
o Passenger and Baggage Handling
o Airplane and Apron Handling
• Cargo Handling
o Freight Handling
Market Segmentation by Airline Type
• Passenger Airlines
• Cargo Airlines
• Chartered Airlines
Ground and Cargo Handling Services Market – Geography
The global ground and cargo handling services market by geography is divided into APAC, Europe, North America, Latin America, and MEA. Europe dominated more than 1/3rd of the total market share in 2017, growing at a CAGR of more than 5% during the forecast period. The availability of various options and several airlines offering varied flight schedules is propelling the growth of this region in the global ground handling services market. The rapid urbanization, improving quality of life, and increasing per capita disposable income are some of the factors attributing to the growth of the APAC region in the global market. China, Japan, South Korea, and India are the largest revenue generators in the APAC market.
Market Segmentation by Geography
• North America
o South Korea
• Latin America
Key Vendor Analysis
The global ground and cargo handling services market has a good mix of both monopoly and fair competition. The entry barriers set by a federal government organization to protect local airline subsidiary companies from the stringent competitions due to the presence of multinational firms will allow the regional vendors to generate high revenues in the ground handling services market. Various vendors are offering bundled services such as airplane maintenance, movement of crew and passengers to between terminal gates and airplane, flight operations, and crew administration to sustain the intense competition in the global ground handling services market. Some players provide services to charter airlines at the executive terminals including meet and greet for high-class business travelers. This varied range of services will help vendors dominated the global ground and cargo handling services market.
The major vendors in the global market are:
• Swissport International
• Menzies Aviation
• Worldwide Flight Services (WFS)
Other prominent vendors include Bird Group, Celebi Aviation, SATS, Aviapartner, BBA Aviation, DHL, Fraport, Glamco Aviation, Primeflight Aviation, and Havaş.
Key market insights include
1. The analysis of ground and cargo handling services market provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the ground and cargo handling services market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of ground and cargo handling services market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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Source: EIN Presswire