APAC Tops the Aircraft Ground-handling System Market | Technavio
Posted by Loise Williams on August 20th, 2019
The latest market research report by Technavio on the global aircraft ground-handling system market predicts a CAGR of more than 10% during the period 2018-2022.
The report segments the global aircraft ground-handling system market by technology (conventional system and electric and hybrid system), by application (aircraft handling, cargo handling, and passenger handling), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global aircraft ground-handling system market, according to Technavio aerospace and defense researchers:
Modernization and expansion of airport terminals: a major market driver
Modernization and expansion of airport terminals are one of the major factors driving the global aircraft ground-handling system market. The airport terminal is an essential and vital transportation facility that requires modernization over the years to keep pace with the levels of passenger service. Often, the existing airport architecture fails to support the increasing number of passengers and results in congestion. As the aviation industry follows its operations based on on-time performance, airside and terminal infrastructure plays an important role in the efficient management of airport operations.
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APAC: largest aircraft ground-handling system market
The increasing preference for air travel has triggered an increase in the demand for advanced aircraft GHS and equipment that will enhance the operations of existing airports. It has also attracted significant investment in the development of new airports in the region. This has created several opportunities for both regional and multinational suppliers of aircraft GHS.
According to a senior analyst at Technavio for research onaerospace components, “APAC is anticipated to project the highest growth rate during the forecast period in the commercial aviation market. This is because of the increased demand for procurement of newer generation aircraft. With the increase in orders for new-generation aircraft from LCCs, the need for technologically advanced aircraft GHS is also on the rise simultaneously.”
Competitive vendor landscape
The global aircraft ground-handling system market consists of many regional and multinational companies who compete in terms of product quality, cost of manufacturing, reliability, delivery cycle time, and geographical diversifications. As the aircraft ground handling solutions require periodical maintenance services, it becomes essential for vendors to maintain a diversified business footprint.
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About the AuthorLoise Williams
Joined: August 7th, 2019
Articles Posted: 266
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