New York, April 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ground and Cargo Handling Services Market - Global Outlook & Forecast 2023-2028" - https://www.reportlinker.com/p05587791/?utm_source=GNW
These services include an extensive service facilitating an aircraft flight and ground preparation or repositioning. Airports are actively planning modernization plans and investing in mega airport modernization projects to improve their infrastructure and services. For instance, the Sapa Domestic Airport Development project involves the construction of an airport to handle 3 million passengers per annum on 371ha of land in Lao Cai, Vietnam. The project starts in 2022 and is expected to be completed in 2030. The construction of various airports requires ground and cargo handling systems for several purposes, such as baggage & luggage handling, thereby supporting the growth of the global ground and cargo handling services market. Furthermore, the transportation of temperature-sensitive goods such as drugs, chemicals, and medicines has also increased demand for cargo transportation services.
Booming Air Travel
The aviation industry is witnessing an upcoming trend of larger airplanes, longer air routes, and lower ticket prices than ever. The airlines are including newer airplanes and investing heavily to enhance the customer experience and make air travel more comfortable. Further, according to the World Travel & Tourism Council, the travel industry accounted for 10.3% of the global GDP (USD 9.6 Trillion). Further, in 2021, Travel & Tourism’s contribution to GDP increased by USD 1 trillion (+21.7% rise) in 2021 to reach USD 5.8 trillion, while the sector’s share of the whole economy increased from 5.3% in 2020 to 6.1% in 2021. Additionally, the sector saw a recovery of 18.2 million jobs, representing an increase of 6.7%. Hence, the rising global travel is expected to surge airline services, thereby supporting the demand for the global ground and cargo handling services market.
SEGMENTATION INSIGHTS
INSIGHTS BY SERVICE
Ground handling services dominate the global ground and cargo handling services market owing to the increasing number of scheduled passengers. In 2021, the total number of expected passengers traveling by airlines worldwide reached an estimated 22.2 million. The handling of passengers and their baggage remains the largest revenue segment for service providers. Moreover, the growth in scheduled international passengers, the development of new airports, and an increase in airport retrofitting activities are expected to boost the ground handling segment. However, the rising air freight is expected to raise the demand for cargo handling services. The cargo handling market is expected to witness the highest growth rate of over 5% in the service type segment during the forecast period. Cargo handling services are usually outsourced by airlines, which deal with freight transportation by air.
Segmentation by Service
• Ground Handling
o Passengers & Baggage Handling Service
o Aircraft & Apron Handling Service
• Cargo Handling
o Cargo & Freight Handling Service
o Logistics Handling Service
INSIGHTS BY AIRLINE
Passenger airlines are dominating the global ground and cargo handling services market share. As passenger airlines carry the most significant number of passengers and baggage, they are the primary revenue generators for service providers. One of the factors driving revenue generation is the ongoing trend of combination airlines. Most airlines are primarily passenger airlines; however, they partner with several e-commerce companies to offer belly cargo space to carry express shipments, including perishable items and time-sensitive and temperature-controlled products.
Segmentation by Airline
• Passengers Airline
o Ground Handling
o Cargo Handling
• Cargo Airline
o Ground Handling
o Cargo Handling
• Charter Airline
o Ground Handling
o Cargo Handling
GEOGRAPHICAL ANALYSIS
North America dominates the global ground and cargo handling services market due to its well-developed airports with state-of-the-art infrastructure to accommodate many passengers. North American airports have seen a surge of investment in new cargo handling and air logistics capacity. Rising freighter traffic and congestion at the main hubs provide a particular boost for second-tier and cargo-focused airports. Further, many major hub airports are also expanding their facilities after the strong performance of cargo has highlighted the potential for logistics investments and the shortcomings of some of these airports’ cargo facilities and infrastructure. For instance, Realterm, the parent of air cargo facility developer Aeroterm, is preparing for more cargo projects.
Segmentation by Geography
• North America
o The U.S.
o Canada
• Europe
o Russia
o Germany
o The U.K.
o France
o Italy
o Spain
• APAC
o China
o Japan
o South Korea
o India
o Indonesia
o Australia
o Malaysia
• Middle East & Africa
o UAE
o Turkey
o Saudi Arabia
o South Africa
• Latin America
o Brazil
o Mexico
o Argentina
COMPETITIVE LANDSCAPE
The global ground and cargo handling services market is highly concentrated, with many local and international players. The competition among these players is intense, and the industry witnesses both monopoly and fair competition. Entry to the market is generally based on regulations set by airport managing authorities. State or federal governments often place entry barriers for multinational ground and cargo-handling service-providing companies to safeguard local airline subsidiaries. Some vendors in the global ground and cargo handling services market are Swissport, Dnata, Menzies Aviation, and Worldwide Flight Services
Key Company Profiles
• Swissport
• Dnata
• Menzies Aviation
• Worldwide Flight Services (WFS)
Other Prominent Vendors
• Bird Group Aviation
• Celebi Aviation
• SATS
• Aviapartner
• BBA Aviation
• DHL
• Fraport
• Glamco Aviation
• PrimeFlight Aviation Services
• Hava?
• Transworld Aviation
• Qatar Aviation Services
• Jardine Aviation Services
• Gategroup
• POS Aviation
• Goldair Handling
• Aeromexico Services
• Airline Assistance Switzerland
• Acciona
KEY QUESTIONS ANSWERED:
1. How big is the ground and cargo handling services market?
2. What is the growth rate of the global ground and cargo handling services market?
3. Who are the key players in the global ground and cargo handling services market?
4. Which region dominates the global ground and cargo handling services market share?
5. What are the significant ground and cargo handling services market trends?
Read the full report: https://www.reportlinker.com/p05587791/?utm_source=GNW
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