The global ground handling system market size is expected to reach USD 189.09 billion by 2022, according to a new report by Grand View Research, Inc.
The substantial growth prospects of the aircraft ground handling system market can be attributed to a global increase in the passenger and cargo air traffic. Support by several governments worldwide and the local airport authorities are also stimulating the industry growth. Aviation and local airport authorities regulate the operations of handling equipment related to the safety of airliners, passengers, and the cargo to be transported.
The multi-billion-dollar expansion of airline fleets and airports globally has set off significant growth prospects for the aircraft handling industry players.Both, airlines operators and airports are focused on procuring and implementing advanced technologies to meet the rising air traffic and ensuring greater profitability, performance, and efficiency amidst stiff competition.
An emerging trend in the industry is the use of renewable energy sources to power equipment. Biogas-powered snow removal equipment, which is an eco-friendly approach, is being developed increasingly to carry out snow removal at airports. Furthermore, with the integration of IT in ground support operations, companies are increasingly developing innovative ground support software to address the specific needs of handlers.
However,high initial and replacement costs for such equipment are presumed to challenge market growth over the forecast period. Advanced and innovative ground support equipment that is sustainable is comparatively expensive and cuts into the profit share of major commercial airline companies.
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Further key findings from the report suggest:
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Grand View Research has segmented the global ground handling system market on the basis of equipment, service, and region:
Ground Handling System Equipment Outlook (Revenue, USD Billion, 2012 – 2022)
Ground Handling System Service Outlook (Revenue, USD Billion, 2012 – 2022)
Ground Handling System Regional Outlook (Revenue, USD Billion, 2012 – 2022)
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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