5 Key Takeaways From The Airside Services Market Report 2023 – Includes Airside Services Market Overview
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Airside Services Market’s Growth Trajectory
- Impressive Growth Ahead: The airside services market is on an upward trajectory, set to grow from $4.04 billion in 2022 to $4.47 billion in 2023, with a remarkable Compound Annual Growth Rate (CAGR) of 10.9%. The future looks even brighter, as projections indicate that the market will reach $6.55 billion by 2027, maintaining a robust CAGR of 10.0%.
Fueling the Market: The Commercial Aviation Industry
The growth of the commercial aviation industry plays a pivotal role in propelling the airside services market forward. Commercial aviation refers to the sector of the aviation industry primarily engaged in transporting passengers and cargo for monetary compensation. The provision of airside services is essential for the seamless operation of commercial aviation, ensuring the safety, efficiency, and punctuality of aircraft operations while supporting the overall passenger and cargo transport process at ground level.
- Aviation’s Remarkable Resurgence: In 2022, U.S. airlines transported an astounding 194 million more passengers than in the previous year, representing a 30% year-on-year increase. Throughout the year, U.S. airlines served 853 million passengers (unadjusted), a significant surge from 2021’s 658 million and 2020’s 388 million passengers.
Movers and Shakers: Major Players in the Airside Services Market
The airside services market is steered by major industry players, including United Aviation Services, Honeywell International Inc., Aeromexico Servicios, Collins Aerospace, Acciona S.A., Worldwide Flight Services (WFS), Dnata, Aviapartner Holding NV, BBA Aviation plc, Singapore Airport Terminal Services Ltd, DAL Global Services LLC, Menzies Aviation Limited, John Menzies Plc., SATS Ltd., PrimeFlight Aviation Services, Flughafen München GmbH, Saudi Ground Services Company, NAS Airport Services Limited, Celebi Aviation Holding, Aviator Airport Alliance AB, Sky Handling Partner, JetEx Flight Support, Aircraft Service International Group Inc., Transworld Aviation FZE, Universal Aviation Corporation, SAS Ground Handling, Aloha Group, Alitalia Airlines, Servisair, and Aero Ground Handling (AGH).
Technological Advancements: A Key Market Trend
- Adopting Innovation: The airside services market is witnessing the trend of embracing technological advancements. Leading companies are integrating new technologies to maintain their positions in the market. Honeywell International Inc. is one such example, as it recently launched an updated suite of airside solutions, including the NAVITAS Smart Visual Docking system and integrated ramp management system. These solutions enhance arrival preparedness, streamline the docking process, improve turnaround and departure management, and provide precise gate operation decision-making. The result is shorter aircraft turnaround times and optimized gate operations.
Global Reach: The Momentum in Asia-Pacific
While North America dominated as the largest region in the airside services market in 2022, the Asia-Pacific region is poised to experience the highest Compound Annual Growth Rate (CAGR) in the coming years. This underlines the global influence of airside services.
Market Dynamics: A Holistic View
The airside services market offers diverse options in terms of platforms, services, airport classes, and applications. This diversity empowers organizations to select solutions that align with their specific needs.
- Market Segmentation: The airside services market encompasses three key platforms: Hardware, Software, and Services, each contributing significantly to the market. The services available cover ramp handling, ground handling, aircraft maintenance, fuel and oil handling, traffic control, and other essential services. Different airport classes include Class A, Class B, Class C, and Class D. The applications range from commercial airports to military airfields.
Embracing the Future of Air Travel
The airside services market is more than just a financial growth story; it’s a transformational journey that’s shaping the future of air travel. Explore how the thriving commercial aviation industry, major industry players, and technological advancements are creating a more efficient and reliable approach to air travel, enabling organizations to meet the needs of passengers and cargo while keeping pace with an ever-changing world. The synergy between air travel and advanced services offers boundless possibilities for the future of aviation.
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The Airside Services Global Market Report 2023 provides an in-depth analysis on the airside services market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the airside services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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