Airport Ground and Cargo Handling Services Market To Boost Incredible Growth: 2022, Share Valuation and Industry Size

 The global airport ground and cargo handling services market size was valued at USD 32.21 billion in 2021. The market is projected to grow from USD 34.52 billion in 2022 to USD 68.67 billion by 2029, exhibiting a CAGR of 10.32% during the forecast period.

This information is provided by Fortune Business Insights, in its report titled, “Airport Ground and Cargo Handling Services Market, 2022-2029.”

 List of Key Players Mentioned in the 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)

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/airport-ground-and-cargo-handling-services-market-105327

COVID-19 Impacts:

COVID-19 Effect: Chief Financial Damages Recorded During Pandemic

The outbreak of the COVID-19 pandemic had a drastic influence on passenger transport, associated services, and revenue. The global airport industry registered billions of dollars in losses in 2020 owing to the pandemic.

The exponential deterioration in air traffic has substantially decreased revenues at domestic airports as well as international airports. Consequently, in spite of the huge fixed charges unescapable for airports, airport officials have been able to dismiss infrastructure assignments, postponed capitalizations, curtail investment in airport services, and refer to employment costs. The focus is on reducing variable cost.

Segments:

Passenger Handling Segment Held Major Share in 2021

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.

Domestic Segment Dominated Based on Airport Type

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 to Display Impressive CAGR During 2022-2029

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. 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.

Drivers and Restraints:

Amplified Demand for Low-Cost Carriers and Domestic Flights to Boost Market Growth

In recent years, low-cost carriers have gained prompt growth owing to global urbanization and augmented economic activity. Additionally, the rising demand for travel and tourism and effortlessness in commute to augur the airport ground and cargo handling services market growth. The increasing demand for low-cost airlines is predicted to bring about the speedy advancement of low-cost airports and expedite the presentation of more airport ground and cargo handling services. Furthermore, the rise in the middle class in emerging nations is the chief object for the surge in passenger air traffic. Owing to the quick advancement of the economy, tourism, and other fields, the demand for regional travel is augmenting. Therefore, domestic demand will rise. This fuels the 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.

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.