In recent years, with the deepening of economic globalization, the ties between countries have become increasingly close, and trade exchanges between each other have become increasingly frequent, which has greatly increased the demand for air cargo. In addition, with the gradual improvement of public living standards, more and more people begin to travel abroad to meet their spiritual needs, which also increases passenger loads. The increasing demand of the aviation industry will promote the development of airport handling services and play a positive role in the growth of the market.
In terms of types, airport handling services can be divided into GSHS and CHS. GSHS covers a wide range of services, including cabin services, catering, ramp services, passenger services, field operation services, and aircraft and ramp handling. CHS refers to cargo handling services, including cargo handling and logistics, etc. Currently, GSHS holds the majority of the market share and its market value has reached $67214.36 million in 2020.
In terms of application areas, the airport handling services market is concentrated in the passenger and cargo areas. Passengers have a significant share in the airport handling services application, and its market value has reached $63,158.77 million in 2020, which is the highest market value among all application areas.
Global Airport Handling Services Industry Market Status and Prospect Analysis
According to research, the total market revenue of the global airport handling services industry in 2015 was $150349.48 million, and it dropped to $86281.51 million in 2020. It is estimated that by 2026, the revenue of the global airport handling services market will increase to $231978.93 million. North America, Europe and Asia Pacific are the three largest markets for global airport handling services, occupying 26.02%, 26.52% and 28.51% of the market share in 2020, respectively.
Asia Pacific is the largest revenue market, and the market value has reached $45035.05 million in 2019. Affected by the domestic epidemic situation and epidemic prevention and control policies, the economic growth of East Asia and Southeast Asia, which has a relatively high economic openness, and the tourism-dependent Pacific region will slow significantly this year. In 2020, the market value of Asia Pacific declined by 45.38%. However, as the epidemic gradually gets under control, the demand that was suppressed under the epidemic will be concentrated and released. Along with the expansion of production, investment, consumption and exports will gradually resume growth. It is expected that its market value will get a steady rise in the coming years.
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The market value of North America is $22450.45 million in 2020. Among them, the United States occupies 79.26% of the North American market share. The United States government has suspended travel to the US from most European countries to prevent the spread of the COVID-19 epidemic. The ban on travel severely affected the aviation and tourism industries, and also dealt a serious blow to the US airport handling services market across the entire industry chain.
The European market value is $22,881.86 million, ranking second in the world. According to Eurostat, various restrictive measures have been taken by countries to prevent the spread of the epidemic and the number of passengers in most countries has been reduced by at least half in March 2020. The largest drop in passenger numbers compared to March 2019 was in Italy, with an 85% drop. The significant reduction in the number of air passengers has had a serious negative impact on airport handling services, inhibiting further growth of the industry.
Asia Pacific is Expected to be the Most Promising Market for Airport Handling Services as the Outbreak is Brought under Control
Disease outbreaks and natural disasters are unforeseen and unavoidable events. This sudden outbreak of the epidemic has led to massive suspension of airline operations. Travel has been restricted, and massive flight have been cancelled. Due to the spread of the outbreak and the impact of the global recession, the global airport handling services experienced a decline in 2020. However, the market gradually began to recover as the outbreak was gradually brought under control. After the epidemic, air passenger traffic increases, new airports start to be established, and new domestic and regional routes in the airline market are set to expand. Therefore, the future outlook for the global airport handling services industry remains bright and will bring many opportunities for services such as hotels, cargo handling and aircraft handling.
The Asia-Pacific region is expected to have the highest growth rate during the forecast period, and the growth rate is expected to reach 37.52% next year. The increasing investment in airport infrastructure by countries such as China, India, Indonesia and the Philippines is driving the growth of the region. For example, in China, according to the 13th Five-Year Plan of the Civil Aviation Administration of China, China plans to build 74 new civil airports by 2020, and the total number will increase from 175 in 2010 to 260. According to a recent report by CNN, China has entered the era of jets very quickly, and the national demand for aviation will continue to grow exponentially. At present, there are about 235 airports in China. Officials estimate that by 2035, China will need about 450 airports. In the future, China Civil Aviation will further extend to small and medium cities. At present, all provincial capital cities in China have airports, but for the majority of county-level cities, they have not yet fully possessed the conditions for aviation development. In the future strategic deployment, China needs to focus on third- and fourth-tier cities as the focus of civil aviation development and build more and smaller airports. In addition to China, airport privatization in India and airport expansion plans in Philippines may boost the growth of the Airport Handling Services market in the Asia-Pacific region. Its market value is expected to rise to $58,180.27 million by 2026.
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