The growth of the global airport ground handling market is driven by factors such as Rise in air traffic, increasing construction, modernization, expansion projects of airports, and growth in e-commerce
PORTLAND, Ore., May 8, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Airport ground handling market by Service (Passenger Handling, Ramp Handling, Cargo Handling, and Others), by Airport (Domestic, and International), by Provider (Independent, Airlines, and Airports): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global airport ground handling industry generated $31.8 billion in 2022 and is anticipated to generate $76.1 billion by 2032, witnessing a CAGR of 9.2% from 2023 to 2032.
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Prime determinants of growth
The growth of the global airport ground handling market is driven by factors such as Rise in air traffic, increasing construction, modernization, expansion projects of airports, and growth in e-commerce. However, high capital costs and rigorous rules and regulations hamper the growth of the market. On the contrary, expansion of alternative power sources, and development of lithium-ion batteries, technical advancements and expanding environmental sustainability measures are expected to offer remunerative opportunities for the expansion of the airport ground handling market during the forecast period.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$31.8 billion |
|
Market Size in 2032 |
$76.1 billion |
|
CAGR |
9.2 % |
|
No. of Pages in Report |
378 |
|
Segments Covered |
Service, Airport, Provider, and Region. |
|
Drivers |
Rise in air traffic Surging airport construction, modernization, expansion projects Growth in e-commerce |
|
Opportunities |
Technological advancements Growing environmental sustainability measures |
|
Restraints |
High capital cost Stringent regulations and guidelines |
Covid-19 Scenario
- The airport ground handling industry was severely impacted during the pandemic due to the declining demand for passenger air transport owing to travel restrictions and border closures.
- However, the airline industry has set to resume operations by the end of 2021, and businesses are already starting to recover from losses incurred during the pandemic. There is a rise in the resumption of airport operations owing to successful vaccination drives and favorable government policies, which drives the growth of the market.
The passenger handling segment to maintain its leadership status throughout the forecast period
Based on service, the passenger handling segment held the highest market share in 2022, accounting for nearly two fifths of the global airport ground handling market revenue and is estimated to maintain its leadership status throughout the forecast period. The growth of the segment is attributed to a rise in demand for safe, reliable, cost-efficient, and effective passenger handling services. However, the cargo handling segment is projected to manifest the highest CAGR of 10.4% from 2023 to 2032, owing to the growth of e-commerce that led to a rise in cargo handling services.
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The international segment to maintain its leadership status throughout the forecast period
Based on the airport, the international segment held the highest market share in 2022, accounting for more than half of the global airport ground handling market revenue and is estimated to maintain its leadership status throughout the forecast period. Also, the same segment is projected to manifest the highest CAGR of 9.6% from 2023 to 2032. This is due to the rise in globalization regarding international travel.
The independent segment to maintain its lead position during the forecast period
Based on provider, the independent segment accounted for the largest share in 2022, accounting for around three-fourths of the global airport ground handling market revenue. The same segment is expected to portray the largest CAGR of 9.5% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. The growth is attributed to the rise in technology adoption and innovation by independent providers to improve the efficiency and accuracy of ground handling services.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global airport ground handling market revenue and is likely to dominate the market during the forecast period. Also, the same region is expected to witness the fastest CAGR of 10.3% from 2023 to 2032. This is due to an increase in investment in developing airport infrastructure and surge in air travel in the region.
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Leading Market Players: –
- Fraport AG
- Qatar Airways
- SATS Ltd
- Aviapartner
- Swissport International AG
- The Emirates Group
- Flughafen München GmbH
- Menzies Aviation Limited
- Celebi Aviation
- AOT Ground Aviation Services Co., Ltd.
The report provides a detailed analysis of these key players of the global airport ground handling market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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