The Global Business Jet Ground Handling Services Market research report aims to provide an unbiased and a comprehensive outlook of the Global market to the readers. Analysts have studied the key trends defining the trajectory of the market. The research report also includes an assessment of the achievements made by the players in the Business Jet Ground Handling Services Market so far. It also notes the key trends in the market that are likely to be lucrative.
The business jet ground handling services market (henceforth, referred to as the market studied) is expected to register a CAGR of 8.90% during the forecast period.
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– The market studied is primarily driven by the opening of the new airport and terminals for business jets. The increasing movements of business jets may further necessitate the need for fixed-base operators (FBOs) to enlarge their ground handling capabilities.
– Globally, charter activities are increasing and gaining momentum. The industry is flying high, due to growth in the demand from the downstream markets. The growth in the purchase of private and charter aircraft is expected to increase the demand for ground handling services in the years to come.
– However, in 2018, oil prices increased steeply and presented additional challenges for small FBO chains and independents, who are trying to cope with industry consolidation. With the rise in fuel prices, FBOs face difficulty to offer discounts. Smaller players suffer the most during such instances and can incur huge losses. This may challenge the growth of the market studied in the coming years.
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Increasing Demand for Business Jets Fueling the Market Growth
The business jet ground handling services market is primarily dependent on the growth in the frequency of business travel and the demand for business jets. Charter operators and fractional market are replacing their aging fleet with new and advanced jets and are introducing new routes, which may further fuel the growth of the business jet market. It is estimated that over the next decade, the demand for new business jets is expected to be over 3,500. In comparison to commercial air travel, business jet travel is a much smaller segment. Nevertheless, it has a significantly positive economic impact as it generates jobs and indirectly stimulates commerce. Thus, the growth in the business jet market, which is being seen all over the world currently, is helping the market for business jet ground handling services.
Asia-Pacific to Become the Largest Market by 2024
As of 2018, North America holds a major share in the market studied, followed closely by Asia-Pacific. Asia-Pacific is projected to overtake North America to become the largest business jet ground handling market by 2024. The market is growing fast in the region. China, Australia, and India have the three largest charter fleets in the region. Meanwhile, China and India are notable for their economic growth and large populations. Australia is notable for having one of the most mature and well-developed business aviation environments in the region. Thus, the market in the region is projected to become the largest, during the forecast period.
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- Comprehensive assessment of all opportunities and risk in the Business Jet Ground Handling Services market.
- Business Jet Ground Handling Services market recent innovations and major events.
- Detailed study of business strategies for growth of the Business Jet Ground Handling Services market-leading players.
- Conclusive study about the growth plot of Business Jet Ground Handling Services market for forthcoming years.
- In-depth understanding of Business Jet Ground Handling Services market-particular drivers, constraints and major micro markets.
- Favorable impression inside vital technological and market latest trends striking the Business Jet Ground Handling Services market.
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