Aircraft Ground Handling System Market in North America dominated the industry in 2016 and is anticipated to continue its dominance over the forecast timeframe.
Sellbyville, DE -- (SBWIRE) -- 11/09/2018 -- Aircraft Ground Handling System Market in North America dominated the industry in 2016 and is anticipated to continue its dominance over the forecast timeframe. Rising focus of airport authorities towards advancements in operations' efficiency for catering to the rising demands of passengers will support the industry dominance. Additionally, in 2015, the 10 busiest airports in the U.S. handled approximately 297 million passengers. Similarly, Canada's top 10 busiest airports handled around 111 million passengers in the same year, thus supporting the high revenue generation in the region over the next seven years.
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Asia Pacific accounted for approximately 26% revenue share in 2016 and is poised to grow at highest CAGR of 7% over the forecast timeframe owing to rising population, increasing prominence of air travel, and increasing airport construction across the region. Integration of innovations in ground handling in countries including China and India will further support the industry growth. Expansion & modernization of airport infrastructure along with rising investments on infrastructural development will provide the industry with the stable future growth prospects over the next seven years.
Airports across the globe are witnessing continuous upgradation, expansion techniques with technological advancements, and improvised infrastructure services, for reducing the delays in the airport operations. The aircraft ground handling systems are critical and desire minimal probability of errors as the industry operations are based on the on-time-performance (OTP). These expansion and modernization measures will further escalate the industry growth over the forecast timeframe. Additionally, the initiatives launched by governments and airport authorities around the world will induce immense potential to the industry till 2024.
Utilizing renewable energy sources for power equipment is a key trend that has gained traction in the aircraft ground handling system industry. For instance, most industry players are making use of biogas snow equipment for snow removal from airports. Shifting preference of ground handlers to tempered steam technology over conventional methods is constantly gaining prominence in the industry and is anticipated to continue the same over the next seven years. Increasing usage of this technology can be attributed to its features such as fuel usage reduction and assistance to the airport operators for saving operational costs. Manufacturers are increasingly making heavy investments on R&D to gain competitive edge with constant product development and innovations. Moreover, IoT integration in support functions has resulted in an innovative software development for fulfilling the specific needs of the industry participants.
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The industry faces constant threat of collisions of aircraft with the ground handling equipment that lead to major losses. The manufacturers are pushed to use innovative technologies that include Aircraft Proximity Detector (APD) that provides information about approaching obstacles. However, excessive initial costs coupled with expensive replacement for this equipment is projected to impact the industry growth negatively over the forecast timespan. Moreover, shortage and quality issues associated with these systems may further hamper the growth.
Cargo handling dominated the aircraft ground handling system market and is anticipated to continue the same over the forecast timeframe. The high revenue generation can be attributed to the continuous development of innovative equipment for diverse applications. Few cargo handling equipment include containers, lift trucks, pallet trailers & caster bed, scissor lifts, and rollers. Aircraft handling is projected to exhibit the highest growth rate from 2017 to 2024 owing to continuously increasing aircraft fleet for catering the travelling demand. Increasing passenger traffic & turnarounds has resulted in the development of innovative and efficient aircraft handling equipment.
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The industry is vastly fragmented with around 1000 companies that provide aircraft, passenger, and cargo handling services and equipment. SATS, Swissport, John Menzies, Air+Mak, Dnata, Bhadra, and Celebi are among the prominent participants in the aircraft ground handling system market. Other notable players include Cavotec SA, PrimeFlight, CargoTec, JBT AeroTech, and RampSnake.
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