Jun 5, 2020 7:08 AM ET
iCrowd Newswire – Jun 5, 2020
The ground handling software market was valued at US$ 2,972.98 million in 2019 and is projected to reach US$ 4,382.05 million by 2027; it is expected to grow at a CAGR of 5.3% from 2020 to 2027.
Since the COVID-19 pandemic emerged, the entire aviation industry has come to an unscheduled halt across the globe. The suspension of passenger air transport by the airline, governments, and airport authorities has shocked several associated industries. The repatriation flights and air freight business continue to function during the pandemic; however, since the operations at every airport are significantly restricted to the businesses mentioned above, the end users struggled to gain profits. This factor is expected to limit the adoption of advanced technology among the end users, as gaining aeronautical revenue would be the end-user’s priority as the airports begin operating. Thus, the adoption rate of software for various airport operations is expected to remain slow over the next couple of years, as the airport business is foreseen to be restricted which is further expected to lead the airports, airlines, and ground handlers gain marginal profits.
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The ground handling software market is soaring in the current scenario across the globe. The majority of the demand is generated from airports in developing countries worldwide. The substantial investments toward the construction of newer airports in developing countries are triggering the demand for technologically sophisticated ground handling software in order to streamline the ground handling operations. This factor is catalyzing the growth of the ground handling software market. Apart from developing countries, several European countries, especially the Nordic Countries, are also witnessing a rise in the new airports, which is driving the demand for advanced software for the ground handlers, thereby driving the ground handling software market.
The need for self-service and automated processes is on the rise pertaining to growing passenger counts at airports and the increase in demand for efficiently managing operations. This in turn is catalysing the demand for modernized solutions, which is expected to ease and enable automation of airport operations. Thus, the rising demand from passengers, cargo handlers, and airport managements to automate the process is expected to propel the construction of smart airports, which is further anticipated to reflect the growth of the ground handling software market.
Arepo Solutions Ltd, Avtura Limited, Damarel Systems International Ltd., INFORM GmbH, Quantum Aviation Solutions, Quonext, RESA Airport Data Systems, SITA, TOPSYSTEM SYSTEMHAUS GMBH, Wiseleapare the leading players operating in the ground handling software market. Several other players are also functioning and are contributing significant revenues in the ground handling software market.
The report segmentsthe global ground handling software market as follows:
By Airport Class
- Class I
- Class II
- Class III
- Class IV
- Terminal Side
By Software Type
- Passenger Boarding & Departure Control
- Baggage Management
- Security Management
- Automated Cargo & Load Control
- GSE Tracking (Telemetry)
- Ramp Management
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Keywords: Ground Handling Software Market, Ground Handling Software, Ground Handling Software Market 2020