The Airport Ground And Cargo Handling Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Airport Ground And Cargo Handling Services Global Market Report 2024, The airport ground and cargo handling services market size has grown strongly in recent years. It will grow from $23.82 billion in 2023 to $25.82 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to safety and security measures, market competition, global trade trends, environmental concerns, air travel expansion.
The airport ground and cargo handling services market size is expected to see strong growth in the next few years. It will grow to $35.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to global trade dynamics, demand for specialized services, sustainability initiatives, focus on contactless solutions, air travel recovery.. Major trends in the forecast period include strategic collaborations, product innovations, advanced material technologies, focus on efficiency and cost reduction, safety and security measures, airline alliances and partnerships.
The increased demand for air freight cargo is expected to propel the growth of the airport ground and cargo handling services market going forward. Air freight cargo is the process of shipment in which goods are transferred via a chartered or scheduled air carrier. The changing consumer preference and growing E-commerce industry have witnessed an increased demand for air freight cargo due to its fast and same-day delivery services. This mode of transportation necessitates a dependable and quick turnaround time handling technique, boosting the demand for airport ground and cargo handling services to reduce halt time resulting in less emission on airports. For instance, in January 2022, according to a report published by the International Air Transport Association (IATA), a Canada-based trade association, global air freight markets revealed that full-year demand for air cargo climbed by 6.9% in 2021. Therefore, an increase in demand for air freight cargo will drive the airport ground and cargo handling services market.
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The airport ground and cargo handling services market covered in this report is segmented –
1) By Airport Type: Domestic, International
2) By Services: Passenger Handling, Baggage handling, Cargo and Mail Handling, Aircraft Handling, Ramp Handling
3) By Infrastructure Type: Greenfield Airport, Brownfield Airport
Major companies operating in the airport ground and cargo handling services market are developing innovative products such as services for battery-powered support equipment to meet larger customer bases, more sales, and increase revenue. Service for battery-powered support equipment refers to the provision of maintenance, repair, and operational support for equipment or vehicles that rely on battery power. For instance, in October 2022, UL Solutions, a US-based safety science company, launched a service and standard for assessing electric ground support equipment at airports that operate on lithium-ion batteries. The distinctive feature of this new service is its capability to align electric ground support equipment with the UL 5840:2022 Standard for electrical systems of battery-powered aviation ground support equipment. UL 5840 establishes clear safety requirements, specifically addressing fire, electric shock, and explosion hazards associated with lithium-ion battery-powered airport ground support equipment. Notably, it also provides guidelines for retrofitting lithium-ion batteries into traditional diesel-powered equipment during fleet upgrades. This unique service effectively addresses potential issues related to the utilization, installation, and maintenance of lithium-ion batteries in ground support equipment, facilitating ground handlers in expediting the adoption of battery-powered solutions and thereby reducing airfield emissions.
The airport ground and cargo handling services market report table of contents includes:
1. Executive Summary
2. Airport Ground And Cargo Handling Services Market Characteristics
3. Airport Ground And Cargo Handling Services Market Trends And Strategies
4. Airport Ground And Cargo Handling Services Market – Macro Economic Scenario
5. Global Airport Ground And Cargo Handling Services Market Size and Growth
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26. South America Airport Ground And Cargo Handling Services Market
27. Brazil Airport Ground And Cargo Handling Services Market
28. Middle East Airport Ground And Cargo Handling Services Market
29. Africa Airport Ground And Cargo Handling Services Market
30. Airport Ground And Cargo Handling Services Market Competitive Landscape And Company Profiles
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