Dublin, April 22, 2022 (GLOBE NEWSWIRE) -- The "Aerospace Ground Handling System - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Aerospace Ground Handling Systems Market to Reach US$182.4 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Aerospace Ground Handling Systems estimated at US$135.4 Billion in the year 2020, is projected to reach a revised size of US$182.4 Billion by 2026, growing at a CAGR of 5.1% over the analysis period.
The growth of Air Transport Auxiliary Services Companies (ESATAs) has been notable in the recent past and has attracted the sector`s leading players with investments from nations like UAE, France, America and China. Moreover, extensive airport privatization has also boosted this sector because any ground service can only be provided by internalized airlines, airport operators for x-ray and baggage inspection-related activities, or Esatas.
With such new investments in certain airports, the need for all auxiliary services has also spiraled, and administrators have quickly availed the services of Esatas after realizing their advantages. In the year 2021, the aerospace industry recorded a slow and largely unstable recovery from the adversities brought on by COVID-19 pandemic and the ensuing economic uncertainties.
The coming years will continue to see steady demand recovery for MRO and ground handling services led by the fact that grounded planes cannot be re-deployed without maintenance and services.
Cargo & Baggage Handling, one of the segments analyzed in the report, is projected to grow at a 6% CAGR to reach US$86.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Aircraft Handling segment is readjusted to a revised 3.8% CAGR for the next 7-year period. This segment currently accounts for a 31.6% share of the global Aerospace Ground Handling Systems market.
The U.S. Market is Estimated at $30.2 Billion in 2021, While China is Forecast to Reach $23.2 Billion by 2026
The Aerospace Ground Handling Systems market in the U.S. is estimated at US$30.2 Billion in the year 2021. The country currently accounts for a 21.65% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$23.2 Billion in the year 2026 trailing a CAGR of 6.1% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 4.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR while Rest of European market (as defined in the study) will reach US$8.5 Billion by the end of the analysis period.
Passenger Handling Segment to Reach $47.7 Billion by 2026
In the global Passenger Handling segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$22.2 Billion in the year 2020 will reach a projected size of US$31.2 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.7 Billion by the year 2026, while Latin America will expand at a 5.4% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- How Was the Aerospace Industry Impacted by the Pandemic & What's the New Normal?
- Global Airline Industry Market Reset & Trajectory - Market Size Outlook (In US$ Billion) For Years 2018 Through 2022
- Aerospace Ground Handling System: Definition, Importance, Service Types & Benefits
- Recent Market Activity
- Innovations
2. FOCUS ON SELECT PLAYERS(Total 70 Featured)
- Aero Specialties, Inc.
- Aviapartner NV
- Bharat Earth Movers Ltd.
- Bliss-Fox Ground Support Equipment Ltd.
- Cavotec SA
- IMAI Aero-Equipment Mfg. Co.,
- ITW GSE
- JBT Corporation
- Mallaghan Engineering, Ltd.
- MULAG Fahrzeugwerk
- Oceania Aviation
- Rheinmetall AG
- SAAB Group
- Teleflex Lionel-Dupont (TLD) Group
- Tronair Inc.
- Textron Ground Support Equipment Inc.
- Weihai Guangtai Airport Equipment Co., Ltd.
3. MARKET TRENDS & DRIVERS
- Aerospace Industry Limps Back Onto a Long Road to Recovery, Brightening the Outlook for Grounding Handling Services
- Innovative Ground Handling Solutions Are the Need of the Hour
- Automation Revolutionizes Ground Handling Operations in Airports
- Focus On Sustainability Pushes Adoption Of Zero Emission Ground Handling Vehicles Among Airports Around The World
- Sustainability Becomes More Important than Ever. Here's Why
- How Airports Are Responding
- Sustainable Investments to Emerge Into an Unstoppable Force in the Coming Decade
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/tf86t9
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