DUBLIN--(BUSINESS WIRE)--The "Ground and Cargo Handling Services Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global ground and cargo handling services market has been witnessing continuous growth in the last few decades. The increase in the number of air passengers directly drives the demand for effective ground and cargo handlers. For airliners to provide in-house ground handling services at airports can become a costly affair due to fluctuation in currency values and regulations across geographies. The global air cargo tonnage grew by 25% in 2019 compared to 2010. Also, according to the IATA, the air tonnage is growing at a higher rate and is likely to maintain its growth in the coming years.
Key Market Insights
- The report provides the following insights into the ground and cargo handling services market for the forecast period 2020-2025.
- Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market
- Includes a detailed analysis of growth drivers, challenges, and investment opportunities
- Delivers a complete overview of segments and the regional outlook of the market
- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage
The booming e-commerce industry and the increasing number of people ordering merchandise via online platforms from overseas have to strengthen freight services. As the majority of e-commerce companies are pushing for one or two day guaranteed deliveries, they employ an increasing number of shipment services to meet their promises. Hence, the growing tonnage of freight through passenger airlines is boding well for the ground and cargo handling services market.
The following factors that are expected to contribute to the growth of the ground and cargo handling services market during the forecast period:
- Innovations in Ground and Cargo Handling Systems and Equipment
- Increased Freight in Passenger Airlines
- Increase in Seat Capacity and Airlines fleet
- Establishment of New Airports
The study considers the present scenario of the ground and cargo handling services market and its dynamics for the period 20192025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply sides of the market. It profiles and examines leading companies and other prominent companies operating in the market.
Key Vendor Analysis
The global ground and cargo handling services market witnesses both monopoly and fair competition. The entry to the market is generally based on regulations set by airport managing authorities. The entry barriers for multinational ground and cargo handling service providing companies are often placed by state or federal governments to safeguard local airline subsidiaries. The marketplace is highly fragmented.
The four largest handlers account for approximately 24% of the ground handling market. In 2019, over 35 million flight turnarounds were carried out globally, of which an estimated 10 million were outsourced by the airlines. By 2021, it is expected there will be approximately 44 million flight turnarounds undertaken globally, of which 45% will be outsourced, thus presenting rising opportunities for independent ground and cargo handling service providers.
- Menzies Aviation
- Worldwide Flight Services (WFS)
Other Prominent Market
- Bird Group
- Celebi Aviation
- BBA Aviation
- Glamco Aviation
- Primeflight Aviation
- Transworld Aviation
- Qatar Aviation Services
- Jardine Aviation Services
- POS Aviation
- Goldair Handling
- Aeromexico Services
- Airline Assistance Switzerland
Market Opportunities & Trends
- Innovations in Ground & Cargo Handling Systems & Equipment
- Increasing Freight in Passenger Airlines
Market Growth Enablers
- Booming Air Travel & Freight Industry
- Increase in Seat Capacity & Fleet of Airlines
- Focus to Reduce Turnaround Times by Airlines
- Establishment of New Airports & Stations
- Financial Stress on Airlines & Volatility in Fuel Prices
- Lack of Skilled Workforce Causing Operational Hindrance
- Halt of Airport Operations
- Disease Outbreak & Natural Disasters
For more information about this report visit https://www.researchandmarkets.com/r/u0bo8