The report highlights the key factors driving the market growth, and prominent players and their developments in the market.
According to our latest market study on “Ground Handling Software Market to 2027 – COVID-19 Impact and Global Analysis and Forecast by Airport Class (Class I, Class II, Class III, and Class IV); Application (Terminal Side, Airside, Landside); Software Type (Passenger Boarding & Departure Control, Baggage Management, Security Management, Automated Cargo & Load Control, GSE Tracking (Telemetry), and Ramp Management); and Geography,” the market was valued at US$ 2,972.98 million in 2019 and is projected to reach US$ 4,382.05 million by 2027; it is expected to grow at a CAGR of 5.3% from 2019 to 2027.
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The need for self-service and automated processes is on the rise pertaining to growing passenger counts at airports and the increase in demand for efficiently managing operations. This in turn is catalysing the demand for modernized solutions, which is expected to ease and enable automation of airport operations. Thus, the rising demand from passengers, cargo handlers, and airport managements to automate the process is expected to propel the construction of smart airports, which is further anticipated to reflect the growth of the ground handling software market.
COVID-19 Impact on Ground Handling Software Market
According to World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in the year 2020 and likely in 2021 as well. The outbreak has created significant disruptions in primary industries such as consumer electronics, semiconductor, automotive, and IT infrastructure. All these industries are crucial for the growth of global ground handling software marketas they are the major demand generation industries for ground handling software. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted both manufacturing and sales of various consumer electronic products and components. The global electronics and semiconductor industry is one of the major industries that is facing serious disruptions due to supply chain issues and manufacturing shutdowns.
Product developmentis the commonly adopted strategy by companies to expand their product portfolio. SITA, INFORM GmbH, RESA, and Quantum Aviation Solutionsare among the key players implementing strategies to enlarge the customer base and gain significant share in the ground handling software market, which in turn permits themto maintain their brand name in the global market.
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