The frequency scarcity imposed by fast growing demand for mobile data service requires promising spectrum aggregation systems. The so-called higher-order statistics (HOS) of the channel capacity is a suitable metric on the system performance. While prior relevant works have improved our knowledge on the HOS characterization of spectrum aggregation systems, an analytical framework encompassing generalized fading models of interest is not yet available. In this paper, we pursue a detailed HOS analysis of $κ$-$μ$ and $κ$-$μ$ shadowed fading channels by deriving novel and exact expressions. Furthermore, the simplified HOS expressions for the asymptotically low and high signal-to-noise regimes are derived. Several important statistical measures, such as amount of fading, amount of dispersion, reliability, skewness, and kurtosis, are obtained by using the HOS results. More importantly, the useful implications of system and fading parameters on spectrum aggregation systems are investigated for channel selection. Finally, all derived expressions are validated via Monte-Carlo simulations.