New York, July 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Ground Handling Systems Global Market Report 2023" - https://www.reportlinker.com/p06480040/?utm_source=GNW
Co. Ltd., JBT AeroTech, John Menzies Limited, Mallaghan Engineering Ltd., RampSnake AS, SATS Ltd., Swissport International Ltd., Air+Mak Industries Inc., BlissFox - Panus Assembly Co. Ltd., and Weihai Guangtai Airports Equipment Co. Ltd.
The global aircraft ground handling systems market is expected to grow from $157.83 billion in 2022 to $168.82 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aircraft ground handling systems market is expected to reach $212.94 billion in 2027 at a CAGR of 5.9%.
The aircraft ground handling system market consists of revenues earned by entities by providing services such as baggage handling, cabin services, and maintenance services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The aircraft ground handling system market also includes sales of ground support equipment, aircraft towbars and ground handling safety equipment that is used in providing aircraft ground handling system services.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Aircraft ground handling system refers to the services that are required by an aircraft between landing and take-off, which includes loading, unloading, refueling, baggage handling, passenger handling, aircraft maintenance, and other such services. This system ensures an aircraft is ready to take off and safe on the ground.
North America was the largest region in the aircraft ground handling systems market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in aircraft ground handling systems report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of aircraft ground handling systems include passenger bag carts, push back tractors, passenger boarding bridges, tugs and tractors and anti-icing.The passenger baggage carts are designed to move the luggage and baggage of customers across airport terminals.
They are classified based on system into aircraft ground handling systems, cargo ground handling systems, passenger ground handling systems and includes technologies such as conventional system, electrical and hybrid system. These are used in commercial, military and others.
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.
The adoption of low-emission GSE (Ground support equipment) and green airports are a key trend gaining popularity in the airport ground and cargo handling services market.Major companies operating in the market are developing advanced low-emission ground support equipment and green airport to sustain their position in the market.
For instance, in November 2020, CESAB Material Handling, an Italy-based manufacturer of material and ground support equipment, launched Cesab M300V, a diesel and LPG forklift truck line that meets European Stage V emission standards. The Cesab M300V series has capacities ranging from 1.5 to 3.5 tones for great power, low fuel consumption, and low maintenance. The collection has been carefully designed to boost corporate efficiencies, productivity, and reliability. Additionally, in June 2022, Farnborough Airport, Europe’s premium air travel connection hub and the home of British aviation unveiled its Net Zero Roadmap, creating one of the aviation industry’s most ambitious Net Zero targets in the aviation industry. Farnborough Airport will be among the world’s first airports to offer Sustainable Aviation Fuel (SAF), which has the potential to reduce life cycle CO2 emissions by up to 80%.
In August 2022, Alliance Grand International LLC, a US-based company that provides airline cargo handling services acquired Airport Terminal Services for an undisclosed amount.Through this acquisition, Alliance Grand International aims to provide more services in the area of the commercial passenger sector.
Additionally, the acquisition will enable Alliance Grand International LLC to build presence in the passenger and airport terminal side. Airport Terminal Services is a US-based aviation company offering ground, baggage handling, and cargo handling services.
The countries covered in the aircraft ground handling systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aircraft ground handling systems market research report is one of a series of new reports that provides aircraft ground handling systems optical components market statistics, including aircraft ground handling systems optical components industry global market size, regional shares, competitors with a aircraft ground handling systems optical components market share, detailed aircraft ground handling systems optical components market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft ground handling systems optical components industry. This aircraft ground handling systems optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06480040/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
