Market Trends of Business Jet Ground Handling Services Industry
Aircraft Handling Services to Dominate the Market During the Forecasted Period
The aircraft handling segment dominates the market during the forecast period due to the increasing technological advances in aircraft handling systems. Aircraft handling is a service that takes care of aircraft's movement, positioning, and parking. These services include turnaround services (refueling, storage, cleaning,) pushback services, car parking services (catering, lavatory services, water services,) and flight line services (safety checks, inspections, and repairs). The US Federal Aviation Administration (FAA) has allocated a budget to various airports in the United States for the procurement of ground power units (GPUs), pre-conditioned air (PCA) units, and de-icing equipment during the forecast period.
For instance, in June 2022, Charles M. Schulz-Sonoma Airport was allocated USD 220,411 to procure two mobile GPUs.Similarly, Boise Air Terminal/Gowen Field, Philadelphia International Airport, and Pittsburgh International Airport were awarded USD 1 million, USD 2.8 million, and USD 4.6 million, respectively. Such development of new equipment, as well as investments into procurement of aircraft handling equipment, is anticipated to propel the growth of the market during the forecast period.
North America Held the Highest Shares in the Market
The North American region is expected to grow most during the forecast period. This is due to the rapid recovery of the aviation industry from the COVID-19 pandemic impact, along with investments of the civil aviation authority and airport operators in the region in expanding airports and developing ground handling equipment modernization. The increasing demand for business jets in the region and the growing number of airports and airfields is also a driving factor for the growth of this market. The region is also home to many affluent individuals and businesses, which drive the demand for private jet services. The increasing number of business jet operators in the region also drives the market. These operators seek efficient, cost-effective ground-handling services to ensure their operations run smoothly. Factors such as these drive the market's growth during the forecasted period.
