The ground handling management market will also impact the frequency of flights, which would in turn, increase passenger traffic, and generate revenues. http://www.marketsandmarkets.com/Market-Reports/aircraft-ground-handling-system-market-264041553.html
(PRWEB) October 05, 2014
According to a new market research report “Aircraft Ground Handling System Market (Passenger Ground Handling Equipment, Cargo Ground Handling Equipment, Aircraft Ground Handling Equipment, by Product, Application & Geography) – Global Forecasts and Analysis to 2014 – 2019,”The global aircraft ground handling system market is estimated to be valued at $347.50 million in 2014, and is expected to reach $456.76 Million by 2019.
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Growth in the aircraft ground handling system market will continue to depend largely on the increase in number of airlines and airports. Expansion, up-gradation of existing airports, and technology advancements, will also increase the demand for aircraft ground handling system market. The global aircraft ground handling system market is estimated to be valued at $347.50 million in 2014, and is expected to reach $456.76 million by 2019.
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The report analyses the aircraft ground handling market in cargo, aircraft, and passenger ground handling system applications. The passenger ground handling sub-segment is expected to have the highest CAGR of 5.40% as compared to other sub-segments.
The region-wise analysis includes application-wise segmentation and product-wise segmentation across mature and emerging markets. This market is estimated to have the highest CAGR in the Middle East. This region is expected to grow at a CAGR of 7.03%.
The ground handling system market in Asia-Pacific and Latin America are expected to show consistent levels of growth during the forecast period. Singapore, Malaysia, and Hong Kong are the main airports in Asia-Pacific, where most of the business jet movements occur. These airports are expected to gradually expand due to the growing traffic. Infrastructural up-gradation will provide more service providers with an opportunity to cater to the airlines and business jets across various segments, particularly the ground handling segments, as it generates constant revenue with every landing and take-off.
India and China are estimated as new growth regions and possess many opportunities for the aircraft ground handling system market, due to the large population, increase in urbanization, and are vast by area, leading to extensive domestic traveling.
The ramp handling segment is one of the largest segments in the aircraft ground handling system market, as it provides services such as aircraft marshaling, parking assistance, aircraft towing, operation of necessary units for engine ignition, and safe passenger movement. The ramp handling segment is estimated to increase at a CAGR of 5.62% until 2019.
Increase in the number of passengers and increase in number of airlines is the main driving factor for the passenger ground handling segment. In the forecast period from 2014-2019, the growth of ground handling equipment market is estimated to grow at CAGR of 5.62%. In Asia-Pacific, the Middle East, and Latin America, there is an increase in aviation activity in the form of air travel, expansions, and upgradation. Passenger ground handling equipment includes passenger baggage handling, passenger stairs, and passenger bus. The growth of passenger baggage handling is totally dependent upon the increase of number of passengers using air travel.
The U.S. represents the largest market for aircraft ground handling systems. The ramp handling segment represents the largest market, supported by the need for aircraft marshaling on ground, parking assistance, aircraft towing, pushback, provision, and operation of necessary units to start the engine, and for safe passenger conveyance, boarding and de-boarding.
The biggest challenge for the aircraft ground handling system market will be the optimization of operations during peak time, poor quality of equipment, and constant security up-gradation by security agency.
Undoubtedly, in today’s world, the aviation industry is the fastest growing industry. Travelers prefer air travel due to extensively growing aircraft fleets, enormous facilities, and the luxury that come with it. This has extended the growth in the ground handling services business, which plays a very precious role in offering ease of travel to passengers. Global liberalization has increased the air traffic enormously, which opened up opportunities for ground handling in Europe and led to the growth of the ground handling market. Also, the improvement in the security and safety standards in ground handling has provided a pace to the ground handling system market, globally.
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The competitive analysis includes the market share of companies in this market. The impact of drivers and restraints are analysed and their impact on this market throughout the study period is given to provide an in-depth insight of the market. Technology and industry trends are also discussed, which will provide competitive market intelligence, related to advanced technology and joint ventures amongst the ground handling system providers.
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