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Global Airport Ground And Cargo Handling Services Market Worth $37.88 Billion by 2029, Growing at 8.6% CAGR
Airport Ground And Cargo Handling Services
Airport Ground And Cargo Handling Services Market Outlook: What Size And CAGR Are Anticipated By 2025?
In the past few years, the size of the airport ground and cargo handling services market has experienced robust growth. It's predicted that the market will expand from $25.36 billion in 2024 to $27.24 billion in 2025, with a compound annual growth rate (CAGR) of 7.4%. The historic period's growth can be linked to factors such as safety and security precautions, market competition, trends in global trade, environmental issues, and the expansion of air travel.
What Is the Expected CAGR for the Airport Ground And Cargo Handling Services Market Growth Through 2029?
The market size for airport ground and cargo handling services is anticipated to experience significant growth in the forthcoming years and is projected to rise to $37.88 billion by 2029, with a compound annual growth rate (CAGR) of 8.6%. Factors contributing to this projected growth within the forecast period include global trade dynamics, demand for bespoke services, sustainability initiatives, a push towards contactless solutions, and a recovery in air travel. Other emerging trends during this forecast period encompass strategic partnerships, product developments, advances in material technologies, emphasis on efficiencies and cost reductions, safety and security protocols, as well as airline collaborations and alliances.
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What Are the Primary Drivers Behind Airport Ground And Cargo Handling Services Market Growth?
The growth of the airport ground and cargo handling services market is anticipated to be fuelled by the escalating demand for air freight cargo. Air freight cargo involves the transfer of goods through either a chartered or a scheduled air carrier. Changing consumer preferences and the expanding E-commerce sector have amplified the demand for air freight cargo due to its rapid, same-day delivery features. A method of transportation that requires efficient and swift handling techniques, thereby propelling the need for airport ground and cargo handling services, designed to decrease stopover time and subsequently lower airport emissions. For example, a Bureau of Transportation Statistics report, a government agency in the US, predicts that the worth of freight will increase more rapidly than the actual quantity of items transported, escalating from $926 per ton in 2023 to $1,256 per ton by 2050, factoring in inflation. Thus, the rising demand for air freight cargo is set to stimulate the airport ground and cargo handling services market.
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What Are the Key Segments Driving Airport Ground And Cargo Handling Services Market Growth?
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
Subsegments:
1) By Domestic: Passenger Ground Handling Services, Cargo Handling Services, Ramp Services, Baggage Handling Services
2) By International: Passenger Ground Handling Services, Cargo Handling Services, Ramp Services, Baggage Handling Services, Customs Clearance Services
What Are the Technological Trends Impacting the Airport Ground And Cargo Handling Services Market?
Key businesses in the airport ground and cargo handling services marketplace are introducing inventive solutions such as battery-powered support equipment services to cater to larger customer groups, elevate their sales, and augment their revenues. Battery-powered support equipment service involves the supply of maintenance, repair, and operation supports for tools or vehicles that are reliant on battery power. For example, in October 2022, UL Solutions, a US-based company specializing in safety science, introduced a standard and service for evaluating electric ground support equipment at airports that use lithium-ion batteries. The standout feature of this recent service is its ability to harmonize electric ground support equipment with the UL 5840:2022 Standard for electrical systems of battery-powered aviation ground support gear. UL 5840 sets forth unequivocal safety requisites, particularly discussing fire, electric shock, and explosion risks connected with lithium-ion battery-powered airport ground support gear. Significantly, it also lays down guidelines for integrating lithium-ion batteries into conventional diesel-powered devices during fleet augmentations. This exceptional service capably handles potential challenges tied to the use, installation, and maintenance of lithium-ion batteries in ground support gear, aiding ground handlers in hastening the implementation of battery-powered alternatives, and, in turn, minimizing airfield emissions.
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Who Are the Major Competitors in the Global Airport Ground And Cargo Handling Services Market?
Major companies operating in the airport ground and cargo handling services market are Aviapartner N.V., Swissport International AG, Worldwide Flight Services Inc., Alvest Group Company Limited, Mallaghan Engineering Limited, MULAG Fahrzeugwerk GmbH & Co. KG, Weihai Guangtai Airport Equipment Co. Ltd., JBT AeroTech Corporation, Fraport AG Frankfurt Airport Services Worldwide, Airport Associates, John Bean Technologies Corporation, ADELTE Group SL, Cavotec SA, Vestergaard Company A/S, Cargotec Corporation, Dubai National Air Transport Association, Havas Ground Handling Company, AeroGround Flughafen München GmbH, Aeroporti di Roma S.p.A., Air France-KLM, Air India SATS Airport Services Private Limited, Air Serv Corporation, Alliance Ground International, Flightcare Global, Goldair Handling, Thai Airways International Public Company Limited, Transworld Aviation Limited, Turkish Ground Services A.S., United Ground Express Inc., Universal Aviation Aircraft Services Inc.
Which Region Dominates the Airport Ground And Cargo Handling Services Market Share in 2025?
North America was the largest region in the airport ground and cargo handling services market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airport ground and cargo handling services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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