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The ground handling software market size is expected to grow from US$ 2959.17 million in 2021 to US$ 4431.98 million by 2028
It is estimated to grow at a CAGR of 5. 9% from 2021 to 2028. With the constant growth in the modernization of US airport infrastructure to enhance the passenger experience and encourage more airline competition, airports experience extraordinary challenges in obtaining much-needed financing for the ground handling software market.
New York, June 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ground Handling Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Airport Class, Application, and Software Type" - https://www.reportlinker.com/p05908647/?utm_source=GNW
Recently, the US Government announced plans to invest US$ 1.187 billion in airport safety and infrastructure grants. It comprises US$ 731 million in Airport Improvement Program (AIP) and US$ 455 million in supplemental discretionary grants. These investments in airport infrastructure will result in a large number of projects that are expected to be completed by 2022.
According to the international airport review, in September 2021, the US Transportation Department’s FAA and NASA finished testing new software to decrease gate pushbacks for ground handling software in North America.The sophisticated technology will be launched at 27 airports, as per the FAA and NASA.
Atlanta, Baltimore, Boston, Charlotte, Chicago Midway, Chicago O’Hare, Dallas-Ft Worth, Denver, Detroit, Fort Lauderdale, Houston Bush, Las Vegas, Miami, Minneapolis, Newark, New York JFK, New York LaGuardia, Orlando, Philadelphia, Phoenix, Salt Lake City, San Diego, San Francisco, Seattle, Washington Dulles, Washington Reagan National, Washington Dulles, Washington Reagan National, Washington Dulles, Washington Reagan National, Washington Dulles, Washington Reagan National, Washington are the airports announced for the scheduled rollout of the software. This is expected to significantly support the ground handling software market growth over the next few years.
For instance, Hoopo Systems Ltd. announced the release of their new Mobile Access Point in 2020, which offers low-power tracking solutions. The mobile access point provides a quick assessment of tracking systems’ economic efficiency, which helps the airports’ ground handling software industry.
The presence of a large number of players in the industry facilitates the aviation industry in every region to adopt the software suites.This factor is driving the ground handling software market.
On the other hand, the global aviation industry is experiencing substantial growth in the number of construction of newer airports, which demands advanced technological hardware embedded with robust mechanism and software. Pertaining to this, the hardware manufacturers supplying systems at airports are also demanding increased volumes of software suites, which is again acting as a catalyzer for the ground handling software market share during the forecast period.
Impact of COVID-19 Pandemic on Asia Pacific Ground Handling Software Market
The COVID-19 crisis drastically affected two leading markets in the APAC region – India and China.The governments in APAC countries took possible steps to reduce its effects by announcing lockdowns, which negatively affected various industries.
The COVID-19 pandemic emerged as an unprecedented public health threat, infecting a large number of people worldwide.
APAC accounts for the largest count of new airport construction and airport expansion.China leads the table in the region in terms of numbers and investments, followed by India.
Both the countries were severely affected by the COVID-19 pandemic.This has led to a sudden suspension of construction activities, affecting the supply chain.
Additionally, the airport businesses were adjourned temporarily, which slowed down the uptake of technologies among airport authorities, airlines, and ground handlers, negatively impacting the ground handling software market share in 2020.
Until airport operations ceased by the governing authorities, continuously declining passenger counts at airports led the airports to observe a downfall in revenue generation.The region had several airport constructions and expansion projects in the pipeline, which were expected to be completed by 2020 and 2021.
The temporary shutdown of construction activities resulted in a slower adoption rate of technologies, hampering the ground handling software market growth.
Ground handling software market analysis by airport class, the ground handling software market is segmented into Class I, Class II, Class III, and Class IV.Ground handling software market analysis by application, the market is segmented into terminal side, airside, and landside.
Based on software type, the market is segmented into passenger boarding & departure control software, baggage management software, security management software, automated cargo & load control software, GSE tracking (telemetry) software, and ramp management software. Based on geography, the global market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).
The ground handling software market has been derived using primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and ground handling software forecast concerning all the market segments.Also, primary interviews were conducted with industry participants to validate data and gain more analytical insights into the topic.
Participants in this process are industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the ground handling software market.
The key companies operating in the ground handling software market are Arepo Solutions Ltd., Avtura Limited, Damarel Systems International Ltd., INFORM GmbH, Quantum Aviation Solutions, Quonext, 1RESA Airport Data Systems, SITA, TOPSYSTEM SYSTEMHAUS GMBH, and Wiseleap.
Read the full report: https://www.reportlinker.com/p05908647/?utm_source=GNW
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