Global Aircraft Handling Service Industry 2015-2020 - Trends Forecast and Opportunity Analysis
According to a new market report published by Lucintel, the future of the global aircraft handlingservice industry looks strong with opportunities in the operation of fueling segment, runwaymaintenance segment, and ramp service segment. The global aircraft handling service industry isforecast to grow at a CAGR of 4.6% from 2015 to 2020. The major drivers of growth for thismarket are construction of new airports, increasing aircraft movements, and technologicaladvancements. Growing liberalization, increasing participation of private players, and rising airpassenger traffic are additional factors contributing to accelerated growth.
In this market, ramp services, runway maintenance, operation of fueling, and aircraft de-icing aresome of the major segments of aircraft handling services. The ramp service segment is thelargest segment by service type and is expected to remain the same during the forecast period.
Lucintel predicts that the demand for the operation of fueling segment is likely to experience thehighest growth in the forecast period, supported by increasing investments in the infrastructuraldevelopment of fueling facility by industry players. On the basis of its comprehensive research,
Lucintel forecasts that the ramp service and runway maintenance segments are expected toshow above average growth during the forecast period.
Within the aircraft handling service industry, the ramp service segment is expected to remain asthe largest market. Increasing frequency of landing and taking-off of aircraft and rising number ofairplane deliveries are expected to spur growth for this segment over the forecast period.
Europe is expected to remain the largest market due to the adoption of open skies policy andincreasing aircraft movements. Asia Pacific and Rest of the World are expected to witnesssignificant growth over the forecast period because of ongoing expansion in the trade and tourismindustry, setting up of new airports, and increasing passenger traffic.
For market expansion, the report suggests innovation and new service development, where theunique characteristics of aircraft handling services can be capitalized. The report further suggeststhe development of partnerships with customers to create win-win situations and the developmentof low-cost services for its customers.
Emerging trends, which have a direct impact on the dynamics of the industry, include introductionof de-icing management systems to improve the de-icing process, emergence of integratedfueling systems, and ground accident avoidance systems revolutionizing ramp and hangar safetyservices in emerging markets. BBA Aviation plc, Menzies Aviation, Fraport AG Frankfurt AirportSrvc Wrldwd, Japan Airport Terminal Co. Ltd., and SATS Ltd. are the major service providers inthe aircraft handling service industry. Some companies are opting for joint venture and M&A asstrategic initiatives for driving growth.handling service industry by service type and region and has come up with a comprehensiveresearch report, “Growth Opportunities in Global Aircraft Handling Service Industry 2015-2020: Trend, Forecast, and Market Analysis.” The Lucintel report serves as a springboard forgrowth strategies, as it provides a comprehensive data and analysis on trends, key drivers, anddirections. The study includes a forecast for the aircraft handling service industry through 2020,segmented by service type and region as follows:
By service type ($ billion from 2009 to 2020)-
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