Airport Ground and Cargo Handling Services Market to Grow at 10.80% CAGR over 2023 to 2030; WFS Inks Extended Partnership with Polar Air Cargo to Strengthen Industry Position

The global airport ground and cargo handling services market size stood at USD 35.23 billion in 2022. The market value is slated to rise from USD 39.91 billion in 2023 to USD 81.83 billion by 2030 at a CAGR of 10.80% during 2023-2030. Fortune Business Insights™ presents this information in its report titled “Airport Ground and Cargo Handling Services Market Size, Share & COVID-19 Impact Analysis, By Services (Passenger Handling, Baggage Handling, Cargo and Mail Handling, Aircraft Handling, Ramp Handling, and Others), By Airport Type (Domestic and International), By Infrastructure Type (Greenfield Airport and Brownfield Airport), and Regional Forecast, 2023-2030”. The rise is impelled by the escalating demand for various services such as ramp handling, catering, passenger handling, and others.

Fall in Industry Share Owing to Reduced Aerospace Demand Amid COVID-19 Pandemic

The COVID-19 pandemic drastically affected passenger transport, revenue, and related services. This led to an increased focus on the reduction of active fleet sizes for the minimization of operating costs. The pandemic also led to the loss of international and domestic revenues considering the enforcement of lockdown restrictions.

WFS Enters Extended Partnership with Polar Air Cargo for Strengthening Industry Expansion

In January 2022, Polar Air Cargo extended its cargo handling partnership with Worldwide Flight Services (WFS) in North America via a new long-term contract at LAX (Los Angeles International Airport). As of December 2021, WFS was delivering warehouse handling solutions for over 5 million kilos of cargo carried every month by an ex-LAX freighter fleet. According to WFS, the partnership plays a strategically significant role for the company in North America and at the global level.

Rise in Post-Pandemic Travel to Propel Market Growth

One of the pivotal factors propelling airport ground and cargo handling services market growth is the implementation of safety regulations and the ease of travel restrictions following the pandemic. This led to a substantial upsurge in the number of travelers, impelling the global market landscape. However, the industry expansion may be hampered by the various operational risks and the additional costs incurred. Some of these risks include aircraft collisions, lifting injuries, and contact with moving vehicles.

Major Companies Enter Merger Agreements to Expand Product Reach

Leading industry participants are focused on the adoption of a series of strategic initiatives such as acquisitions, merger agreements, and the launch of various products. These steps are being adopted for the consolidation of their industry positions. Some of the additional initiatives include the formation of alliances and partnership agreements.

List of Key Players Profiled in the Report:

• Dnata (UAE)
• Menzies Aviation (Scotland)
• Swissport International AG (Switzerland)
• Havas Ground Handling Co. (Turkey)
• Çelebi Ground Handling (Turkey)
• Aviapartner Group (Belgium)
• Worldwide Flight Services (France)
• Fraport AG (Germany)
• Airport Associates (Iceland)
• Qatar Aviation Services (Qatar)
• AirPart GmbH (Germany)

Key Industry Development

• November 2022 – Celebi Tanzania Airport Services Limited entered a partnership with flydubai, a Dubai-based aviation services company. The deal was focused on the provision of ground-handling services in Tanzania.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/airport-ground-and-cargo-handling-services-market-105327

Further Report Findings

• On the basis of geography, the market is subdivided into Asia Pacific, Europe, North America, and the rest of the world. North America airport ground and cargo handling services market share is anticipated to grow at a considerable pace over the estimated period. The rise is impelled by an upsurge in expenditure on airport modernization.
• The Asia Pacific market is slated to depict substantial growth throughout the study period. The surge is driven by an escalation in international and domestic passenger transport.
• Based on service, the market is segmented into ramp handling, cargo and mail handling, passenger handling, baggage handling, aircraft handling, and others. The passenger handling segment is estimated to register considerable growth over the study period.
• By airport type, the market is fragmented into domestic and international. Of these, the domestic segment is slated to record a substantial surge throughout the forecast period.

Table of Segmentation