Business Description
Global Aircraft Ground Handling System Market size is valued at US$ 113 Bn in 2017 and expected to grow at a CAGR of 5% in the forecasting period. Airports around the world are getting modernized and looking towards expansion measures with improvised infrastructure services, and technological advancements to reduce delays in operations at airports. The ground handling systems are crucial and demand minimum error likelihood as the industry follows its operations based on on-time-performance (OTP). These modernization and expansion measures will further fuel industry growth. Moreover, initiatives taken by airport authorities and governments across the globe have positively impacted the aircraft ground handling system market.
The industry possesses a constant threat of aircraft collisions with the ground equipment and suffers major losses owing to these collisions. The manufacturers are compelled to use innovative technologies such as aircraft proximity detector (APD) that warns about upcoming obstacles. However, high initial costs and expensive replacement is anticipated to hamper industry growth during the forecast timeframe. Moreover, quality issues and the shortage of these systems may also hinder the aircraft ground handling system market growth.
Aircraft Ground Handling System Market
Aircraft Ground Handling System market is majorly segmented by the product and region wise. Based on the product segment the market is segmented as passenger handling, cargo handling, and aircraft handling. Under this, Aircraft ground handling system holds the largest share. The growing passenger traffic and increasing turnaround led to the development of efficient and innovative systems. Moreover, support from airport authorities for major investments for R&D and new innovations in this equipment will propel this segment’s growth. Aircraft handling includes the support equipment such as refuelers, start units, chocks, jet air starter, tow bars, Tow Tractors, de-icing, anti-icing system, and hydraulic testing units.
Global Aircraft Ground Handling System Market
This information reported by
Maximize Market Research Company
