Global Aircraft Ground Handling System Market Size is Expected to Reach USD 526.1 Million by 2022: Hexa Reports
North America “aircraft ground handling system market” accounted for over 30% of the revenue in 2014, owing to the increasing domestic and international passenger and cargo air traffic in the region.
Felton, United States – July 26, 2016 /MarketersMedia/ —
The global aircraft ground handling system market size is expected to reach USD 526.1 million by 2022, according to a new report by Grand View Research, Inc. Increasing air traffic across the globe is expected to drive Ground Support Equipment (GSE) industry growth over the forecast period. Such an increase in air traffic is expected to call for increased capacity of ground handling equipment and staff, thereby boosting the prospects of GSE vendors and suppliers.
With the continual advancement of digital communications, robotics, and other technologies, airports now have broadened options for improving this much-maligned feature of airport operations.
The Ground Support Equipment and Environmental Management (GSEE) in association with IATA regulate the industry standards owing to the high levels of safety and security required for all the airplanes, cargo, and the most important of all, the passengers.
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Further key findings from the report suggest:
Exponentially increasing number of globetrotters and a surge in the global air freight are the major factors expected to drive the GSE industry. Aircraft ground management equipment market is projected to emerge as the largest segment, generating close to 40% of the overall revenue in 2014. The key drivers accountable for the industry growth are increasing number of airports, expansion of existing terminals, and upgrade of airports. Additionally, ramp handling equipment for passenger and cargo GSEs is projected to possess high growth potential over the next seven years.
Airliner companies may either choose to handle these services themselves or sign contracts with third-party companies, which include other airline companies or dedicated GSE companies. Increasing competition in the industry is expected to positively impact the aviation industry and benefit passengers by providing optimal quality of service at airports. Airports are increasingly using sophisticated technology to streamline every aspect of the baggage management process, which is simplifying this troublesome task for airlines and their customers. According to IATA, more than 50% of the key commercial airliners hire third-party GSEs.
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North America aircraft ground handling system market accounted for over 30% of the revenue in 2014, owing to the increasing domestic and international passenger and cargo air traffic in the region. Asia Pacific regional market is estimated to outpace both, North America and Europe, over the forecast period due to presence of major airports in countries such as China, India, Hong Kong and Singapore. The transformation of countries from the Middle East such as Dubai and Qatar into business and tourism hubs has increased air traffic in the region, which has consequently led to the expansion and up-gradation of the existing airports and its facilities.
Key vendors are increasingly investing in R&D activities to provide fuel efficient and sustainable GSEs. Vendors have started developing eco-friendly solutions such as battery operated tugs and trucks in order to exploit the high growth prospects for such GSEs. Aircraft ground handling system vendors are using merger and acquisition growth strategies for their global expansion and gain a major share of the industry.
Notable companies include AERO Specialties Inc, Cavotec SA, IMAI Aero-Equipment, JBT Aerotech, Mallaghan Engineering, and WeihaiGuangtai Airports Equipment. JBT Aerotech has managed to hold a significant position on the market by providing a range of eco-friendly and electric powered vehicles and GSEs such as passenger boarding steps, aircraft pushback tractors, their flagship RampSnake bulk loading system and commander cargo loaders.
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About Us:
Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe.We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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