The Global Airport Handling Services Market is Expected to Grow by $ 43.06 Billion During 2020-2024 at a CAGR of Over 5% |Technavio

By Pr Newswire8 days ago

NEW YORK, May 5, 2021 /PRNewswire/ --

TheAirport Handling Services Market by Service and Geography - Forecast and Analysis 2020-2024report has been added toTechnavio'soffering.

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The airport handling services market is poised to grow by USD 43.06 billion between 2020-2024, progressing at a CAGR ofover 5% during the forecast period.

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To increase the efficiency of ground handling operations, a collective pooling method is used which helps to procure airport equipment and store them centrally to lease them to ground handling service providers as per requirement. Ground handling equipment for different airport ground handling services is leased or owned by ground handlers and stored at airport terminals. When the number of stored ground handling equipment becomes greater than the actual requirement the storage costs for vendors increases. Hence, to ensure cost and capacity efficient airport operations, airports, airlines, and ground handlers are taking up initiatives such as collective pooling of airside equipment. Various benefits, including reduction of storage, maintenance and equipment purchasing expenditure, terminal stands congestion, and flight delays due to the unavailability of equipment can be enjoyed by the vendors by collective pooling of airside equipment. These factors will boost the growth of the airport handling services market.

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