Airport Ground and Cargo Handling Services Market to Worth USD 68.67 Billion by 2029 | With a 10.32% CAGR
The Airport Ground and Cargo Handling Services Market Covered Major Segments Size, Share & COVID-19 Impact Analysis, By Service (Passenger Handling, Baggage Handling, Cargo and Mail Handling, Aircraft Handling, Ramp Handling, and Others), By Airport Type (Domestic and International), By Infrastructure Type (Greenfield Airport and Brownfield), and Regional Forecast, 2023-2029.
Pune, India, Aug. 23, 2023 (GLOBE NEWSWIRE) — The global airport ground and cargo handling services market achieved a value of USD 32.21 billion in the year 2021 and is projected to rise from USD 34.52 billion in 2022 to a substantial USD 68.67 billion by the year 2029. This growth trajectory signifies a Compound Annual Growth Rate (CAGR) of 10.32% throughout the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Airport Ground and Cargo Handling Services Market, 2023-2029.”
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List of Key Players Mentioned in the Airport Ground and Cargo Handling Services Market Report:
- Dnata (UAE)
- Menzies Aviation (Scotland)
- Swissport International AG (Switzerland)
- Havas Ground Handling Co. (Turkey)
- Çelebi Ground Handling (Turkey)
- Aviapartner Group (Belgium)
- Worldwide Flight Services (France)
- Fraport AG (Germany)
- Airport Associates (Iceland)
- Qatar Aviation Services (Qatar)
- AirPart GmbH (Germany)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 10.32% |
| 2029 Value Projection | USD 68.67 Billion |
| Market Size in 2022 | USD 34.52 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Airport Ground and Cargo Handling Services Market Growth Drivers | Expansion of Existing Airports and New Airport Projects to Boost the Market Growth |
| Increased Demand for Low-Cost Carriers and Domestic Flights to Drive Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/airport-ground-and-cargo-handling-services-market-105327
Segments:
In 2021, Passenger Handling Segment Dominated the Market Share
Based on service, the market is divided into baggage handling, passenger handling, cargo and mail handling, aircraft handling, ramp handling, and others. In 2021, the passenger handling segment held an outstanding share. Passenger service enables the proficient movement of passengers from preliminary check-in to boarding.
Based on Airport Type, Domestic Segment Held the Dominant Position.
Based on airport type, the market is divided into domestic and international. The domestic segment reached its maximum share in 2021. The rise in domestic flights is predicted to fuel segment growth owing to the augmented development in tourism, business, and other sectors.
Greenfield Segment is Projected To Exhibit A Remarkable CAGR During The Period 2023-2029
Based on infrastructure type, the market is divided into greenfield airport and brownfield. The greenfield segment, on the other hand, is projected to show a substantial CAGR over the forecast period of 2022-2029.
The market is segmented into North America, Europe, Asia Pacific, and the rest of the world by region.
Report Coverage:
The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide an estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.
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Report Coverage:
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers and Restraints:
Amplified Demand for Low-Cost Carriers and Domestic Flights to Boost Market Growth
In recent times, the rapid growth of low-cost carriers due to global urbanization and increased economic activity, along with a rising demand for travel and tourism, is driving expansion in the airport ground and cargo handling services market. The surge in low-cost airlines is also leading to the development of low-cost airports and an increased demand for handling services. Additionally, the growth of the middle class in emerging economies is a key driver for increased passenger air traffic, particularly for regional travel, thus fueling domestic demand and overall market growth.
Regional Insights:
North America to Lead Backed by Increasing Developments in Aviation Industry
North America held the largest airport ground and cargo handling services market share in the base year. The market size in 2021 was the USD 11.37 billion. This growth is owing to the existence of most airports, the thrusting aviation industry, and augmented expenditure on airport modernization.
During the forecast period, the European market is estimated to grow reasonably. This growth is owing to a development in air travel in the U.K., Germany, and France. Bolstering capitalization on the aviation sector will also spur market growth across Europe.
Asia Pacific is anticipated to register the highest growth during the forecast period. Augmented international and domestic passenger transport is predicted to sustain market growth.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Qualitative Insights
- Impact of COVID-19 on the Airport Ground and Cargo Handling Services Market
- Steps Taken by the Industry/Government/Companies to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities due to COVID-19 Outbreak
- Global Airport Ground and Cargo Handling Services Market Analysis, Insights and Forecast, 2018-2029
- Segmental Definitions
- Market Analysis, Insights and Forecast – By Services
- Passenger Handling
- Baggage Handling
- Cargo and Mail Handling
- Aircraft Handling
- Ramp Handling
- Others
- Market Analysis, Insights and Forecast – By Airport Type
- Domestic
- International
- Market Analysis, Insights and Forecast – By Infrastructure Type
- Greenfield Airport
- Brownfield Airport
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-Pacific
- Rest of the world
TOC Continued…!
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Competitive Landscape:
Acquisitions Initiated by Key Companies to Promote Market Growth
The leading players of airport ground and cargo handling services constantly opt for efficient strategies to bolster their brand value as well as promote the global market growth. One such efficient strategy is acquiring competitive companies and further securing a profit for both the companies.
Key Industry Development:
February 2022: Havaş procured MZLZ Ground Handling Services to function at Zagreb Airport (ZAG). With this novel planning, Zagreb turned out to become the 31st air terminal in Havaş’ portfolio. Havaş has declared that it will be starting to offer airport services based in Zagreb, Croatia.
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