Market Trends of Asia-Pacific Airport Ground Handling Systems Industry
Aircraft Handling Segment to Witness Highest Growth During the Forecast Period
The aircraft handling segment is anticipated to register the highest CAGR during the forecast period due to fleet expansion being undertaken by airlines in the region, which has increased flight movements at airports in Asia-Pacific. Also, the trend of using GSE (ground support equipment) that has low emissions rates and creates green airports has been gaining popularity over the years. ITW GSE is one of the leading manufacturers of ground power units (GPUs) in the aviation industry. It offers reliable and the most cost-efficient ground support equipment. The company developed an ITW GSE 5400 gasoline-powered GPU that runs at a variable speed to reduce NOx and other emissions at airports. Similarly, aircraft pushback tugs and towing vehicles are undergoing modernization, such as electrification and autonomous driving, to reduce ground emissions, occupational hazards, and operational lead times. For instance, in August 2022, Air BP, the international aviation fuel products and services provider, introduced a next-generation new model all-electric refueler for customers lifting Jet-A1 at Brisbane Airport in Australia.
China is Projected to Show Significant Growth During the Forecast Period
China is anticipated to register the highest growth rate during the forecast period. This is mainly due to the increasing investments in airport infrastructure in China to cater to the growing passenger traffic and aircraft movements in the country. In 2020, China was anticipated to become the world's largest aviation market by seat capacity. Furthermore, the Civil Aviation Administration of China (CAAC) is planning to construct 216 new airports by 2035 to fulfill the rising demand for air travel. An increasing number of air passengers, rising investments in airport infrastructure, and the growing procurement of commercial aircraft drove market growth across the country. For instance, in July 2022, Airbus signed a contract with four Chinese airlines for 292 single-aisle A320 aircraft. The value of the contract was USD 37 billion.
Also, as e-commerce grows in China, cargo and freight transport are growing quickly, which is expected to boost the demand for cargo handling systems in the country. But the trade war between China and the US, which is still going on, is likely to slow this growth. In addition to this, China is a global leader in vehicle electrification and has the largest electric bus fleet in the world. The rise in demand for electric airport shuttle buses is expected to drive growth in the passenger handling segment of the market in China during the forecast period.
