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Airport Ground Handling Market to Reach $76.1 Billion, Globally, by 2032 at 9.2% CAGR: Allied Market Research
- https://www.alliedmarketresearch.com/request-sample/5585
The growth of the global airport ground handling market is driven by factors such as Rise in air traffic, increasing construction, modernization, expansion projects of airports, and growth in e-commerce. However, high capital costs and rigorous rules and regulations hamper the growth of the market. On the contrary, expansion of alternative power sources, and development of lithium-ion batteries, technical advancements and expanding environmental sustainability measures are expected to offer remunerative opportunities for the expansion of the airport ground handling market during the forecast period.
Growth in e-commerce
Based on service, the passenger handling segment held the highest market share in 2022, accounting for nearly two fifths of the global airport ground handling market revenue and is estimated to maintain its leadership status throughout the forecast period. The growth of the segment is attributed to a rise in demand for safe, reliable, cost-efficient, and effective passenger handling services. However, the cargo handling segment is projected to manifest the highest CAGR of 10.4% from 2023 to 2032, owing to the growth of e-commerce that led to a rise in cargo handling services.
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Based on the airport, the international segment held the highest market share in 2022, accounting for more than half of the global airport ground handling market revenue and is estimated to maintain its leadership status throughout the forecast period. Also, the same segment is projected to manifest the highest CAGR of 9.6% from 2023 to 2032. This is due to the rise in globalization regarding international travel.
Based on provider, the independent segment accounted for the largest share in 2022, accounting for around three-fourths of the global airport ground handling market revenue. The same segment is expected to portray the largest CAGR of 9.5% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. The growth is attributed to the rise in technology adoption and innovation by independent providers to improve the efficiency and accuracy of ground handling services.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global airport ground handling market revenue and is likely to dominate the market during the forecast period. Also, the same region is expected to witness the fastest CAGR of 10.3% from 2023 to 2032. This is due to an increase in investment in developing airport infrastructure and surge in air travel in the region.
- https://www.alliedmarketresearch.com/purchase-enquiry/5585
The report provides a detailed analysis of these key players of the global airport ground handling market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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