June 16, 2020
As per the report titled ‘Ground Handling Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Airport Class; Application; Software Type, available with Market Study Report LLC, global ground handling software market was worth USD 2,972.98 million in 2019 and is projected to reach USD 4,382.05 million by the year 2027, expanding at a CAGR of 5.3% over the forecast duration.
Rising demand for effective ground handling solutions for streamlining operations, in tandem with sustaining investments for construction of new airports in developing economies is driving the growth of global ground handling software market. Besides, demand for advanced software for ground handlers in Europe, especially from Nordic countries, is escalating on account of rise in number of new airports.
Based on airport class, class I segment held majority share in 2019. Inclination towards easing and streamlining operations for addressing increasing number of passengers and freights volume will continue to foster the demand for ground handling software among airport authorities, airlines, and ground handlers across class I airports.
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Speaking of the application spectrum, terminal side segment is anticipated to showcase a strong growth rate over the forecast period, attributable to increasing investments by governments towards development of new airports and focus of airport authorities towards constructing new terminals in existing airports.
Some of the renowned players operating in worldwide ground handling software market include Wiseleap, Topsystem GmbH, Resa Airport Data Systems SITA, Quonext, Quantum Aviation Solutions, Inform GmbH, Damarel Systems International Ltd., Aventura Ltd., and Arepo Solutions Ltd.
The COVID-19 outbreak has grounded the entire aviation industry across the globe. The suspension of passenger transportation services by several airlines, airport authorities, and governments has severely affected associated industries as well. Although repatriation and air freight business remain functional during the pandemic, end-users are struggling to gain profits as operations at every airport are strictly restricted to the businesses mentioned above. This, in turn, is limiting the adoption of advanced technology, as generating aeronautical revenue would be the prime objective of end users as soon as airports start operating. Moreover, adoption rate of ground handling software for various airport operations is likely see a sluggish growth in the coming years, as airport business is foreseen to be constrained.