Ground handling is one of the integral parts of the operation systems of the aircrafts. Ground handling is a group of services that require in the maintenance drills for the aircrafts between landing and takeoffs. These services are defines the servicing of the aircrafts, while they are parked at terminals and airports. The global ground handling management market is gaining great traction with increasing demand from the industry. Economic growth of the industry is also a crucial factor for the current growth rate for the industry in terms of growth, global demand, and revenue channels. As a result of all these factors, businesses in the industry have positive growth prospects during the next few years to come.
What to Expect from the Market
Ground handling services in aviation industry stand for all the servicing and maintenance activities performed while the plan is at the terminal. These services include loading, unloading, aircraft marshaling, baggage handling, refueling, aircraft maintenance, passenger handling, and so on. These services are provided through self-handling as well as third party handling, which is provided by contracted company other than the airlines. Aviation industry is slowly regaining its ground, which was shaken by the economic crisis of 2008. Growth of the industry across emerging markets like Middle East and Asia Pacific are also creating better business opportunities in ground handling management market.
Middle Eastern market is poised to witness robust growth within the industry. It is one of the regions with the least amount of impact on the economy. Asian countries like Singapore, Hong Kong, Malaysia, and such other airports are gaining stronger business jet movements for the last few years. Increasing activity and number of aircrafts is a positive sign of growth for the overall ground handling management market. Infrastructural growth within the emerging markets is also a strong prospect for the global market. As a result of these factors, the industry is witnessing steady traction within these regions.
As per the latest market research reports, ground handling management market is expected to witness steady growth at a CAGR of over 5% from 2014 to 2020. At the said timeframe, the market is estimated to reach past $456.76 million by the end of 2020. As of 2014, the market is worth $347.50 million. Based on regional demands, North America is dominating the global market. The North American market within the industry is marked by impressive growth within the United States of America. Ramp handling is the largest segment, which is driven by the rising demand for ramp handling, aircraft towing, aircraft marshaling on the ground, parking assistance, and such other services.