The Future of the Global Ground & Cargo Handling Services Market to 2025

Dublin, March 04, 2020 (GLOBE NEWSWIRE) -- The "Ground and Cargo Handling Services Market - Global Outlook and Forecast 2020-2025"[1] report has been added to ResearchAndMarkets.com's offering.Key Market InsightsThe report provides the following insights into the ground and cargo handling services market for the forecast period 2020-2025Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the marketIncludes a detailed analysis of growth drivers, challenges, and investment opportunitiesDelivers a complete overview of segments and the regional outlook of the marketOffers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantageThe 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.Market DynamicsInnovations in Ground & Cargo Handling Systems & EquipmentIncreasing Freight in Passenger AirlinesGrowth EnablersBooming Air Travel & Freight IndustryIncrease in Seat Capacity & Fleet of AirlinesFocus to Reduce Turnaround Times by AirlinesEstablishment of New Airports & StationsRestraintsFinancial Stress on Airlines & Volatility in Fuel PricesLack of Skilled Workforce Causing Operational HindranceHalt of Airport OperationsTerrorismDisease Outbreak & Natural DisastersGround and Cargo Handling Services Market: SegmentationWith the increase in the number of scheduled passengers, the amount of cargo being transported through the air is growing at a significant rate. The ground handling services market is expected to grow at a CAGR of over 6% and is likely to account for an incremental revenue of £1.84 billion during the forecast period.

The growth in scheduled international passengers, the development of new airports, and an increase in retrofitting activities at airports are expected to boost the ground handling segment.North America leads the passenger and baggage handling service market due to the presence of several international as well as domestic airports. The segment is likely to expand in APAC on account of an increase in domestic and international passengers in China and India. The cargo handling services segment is expected to grow at a CAGR of over 6% during the forecast period.Insights by GeographyKey Vendor AnalysisThe 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.Key Topics Covered
1 Research MethodologyFor more information about this report visit https://www.researchandmarkets.com/r/mknawh[2]Research and Markets also offers Custom Research[3] services providing focused, comprehensive and tailored research.CONTACT: ResearchAndMarkets.comLaura Wood, Senior Press [email protected] E.S.T Office Hours Call 1-917-300-0470For U.S./CAN Toll Free Call 1-800-526-8630For GMT Office Hours Call +353-1-416-8900

References

  1. ^ Ground and Cargo Handling Services Market - Global Outlook and Forecast 2020-2025 (www.researchandmarkets.com)
  2. ^ https://www.researchandmarkets.com/r/mknawh (www.researchandmarkets.com)
  3. ^ Custom Research (www.researchandmarkets.com)

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