The ground handling services market is also experiencing significant growth, increasing from $26.15 billion in 2023 to $28.17 billion in 2024, at a CAGR of 7.7%. This growth is largely attributed to the expansion of air travel, airline deregulation, and investments in airport infrastructure. The market is expected to grow to $37.79 billion by 2028, reflecting a CAGR of 7.6%. Key drivers of this growth include a focus on environmental sustainability, shifts in airline business models, and ongoing globalization of air travel. Major trends anticipated in this sector include increased digitalization and automation, enhanced security measures, and the adoption of data analytics for predictive maintenance.
Major Driver In The Ground Handling Services Market
The ground handling services market is set for growth owing to the increased demand for air freight cargo. Air freight cargo, involving the transfer of goods through chartered or scheduled air carriers, has witnessed a surge in demand driven by changing consumer preferences and the booming E-commerce industry. The need for fast and same-day delivery services has propelled the demand for air freight cargo, necessitating efficient ground handling services at airports to minimize turnaround time and reduce emissions. As reported by the International Air Transport Association (IATA) in January 2022, global air freight markets indicated a 6.9% increase in demand for air cargo in 2021. Thus, the escalating demand for air freight cargo is expected to fuel the growth of the airport ground and cargo handling services market in 2023, 2024, and beyond.
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Ground Handling Services Market Competitive Landscape
Baltic Ground Services, Dubai National Air Transport Association , Aerospace Jet Group, Swiss Aviation Group AG, SAAB AB, Cargotec Corporation, Worldwide Flight Services (WFS), JBT Corporation, Swissport International Ltd., Singapore Airport Terminal Services Limited , Beumer Group GmbH & Co. KG, TAV Havalimanlari Holding A.S., Groundforce Handling Portugal , Aviapartner Group NV, Weihai Guangtai Airport Equipment Co. Ltd., Goldair Handling SA, Airport Terminal Services Inc., Cavotec Group SA, Mallaghan Engineering Ltd, Menzies Aviation plc, Skyplan Services Ltd., Belau Transfer and Terminal Company, AFS Aviation Services Limited , Vision Aviation Global, AN Aviation Services Co. Ltd., AvJet International (FZE), Proground GmbH, Myanmar National Airlines, Airline Services Ltd., Jet Aviation Business Jets AG , Çelebi Havacilik Holding A.S. , Royal Aviation, SAS Ground Handling AB
Key Ground Handling Services Market Trend
Technological innovation is a significant trend gaining traction in the ground handling services market. Key players are focusing on developing advanced equipment technologies, such as electric material handling devices, to enhance their market position. For example, in May 2022, Linde Material Handling, a German manufacturer of forklift trucks and warehouse equipment, launched a new series of electric heavy-duty forklifts with load capacities between 10 to 18 tonnes. This compact, heavy-duty series features a double drive, double lifting hydraulics, two batteries, and scaled pumps.
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Ground Handling Services Market Segmentation
The ground handling services market covered in this report is segmented –
1) By Service: Ground handling, Passenger ground handling, Ramp handling, Other Services
2) By Airport Type: International, Domestic
3) By Application: Civil, Military
By Geography:The regions covered in the ground handling services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the ground handling services market in 2023.
The Ground Handling Services Global Market Report 2024 furnishes information about the global ground handling services market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
