Market NEWS: The ground support equipment market is projected to grow from USD 7.5 billion in 2019 to USD 9.7 billion by 2025, at a CAGR of 4.45% from 2019 to 2025.
Press
Release
According
to the new market research report "Ground
Support Equipment Market by Type (Mobile GSE, Fixed GSE) , Power Source
(Non-Electric, Electric, Hybrid), Application (Commercial, Military), Component
(New, Replacement, Maintenance), Region - Global Forecast to 2025", The
growth of the market across the globe can be attributed to rising demand for
electric ground support equipment, increasing warehouse operations at airports,
and ongoing expansions of airports to cater to the rising global air passenger
traffic.
Browse 127 market data
Tables and 44 Figures spread through 197 Pages and in-depth TOC on "Ground
Support Equipment Market – Global Forecast to 2025"
Based on type, the mobile
GSE segment is projected to lead the ground support equipment market during the
forecast period.
Based on type, the ground support equipment market is
projected to be led by the mobile segment from 2019 to 2025. Mobile GSE refer
to equipment that can be moved around airports. They are not restricted to one
installed location and can be used to service aircraft parked at gates that are
not connected to airport terminals. Mobile GSE usually comprise cargo loading
equipment and ramp service equipment. The rise in capacity expansions of
existing airports has led to increased aircraft and cargo movements, which
eventually have contributed to increased demand for mobile GSE.
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Report
The commercial segment is
projected to lead the ground support equipment market from 2019 to 2025.
Based on application, the
commercial segment is projected to lead the ground support equipment market
during the forecast period. The commercial segment has been classified into
passenger services, cargo services, and aircraft services. These services form
a bulk of ground support activities required by aircraft. These services are
also called as ramp services. The growth of the commercial segment of the
market can be attributed to the rise in demand for electric ground support
equipment due to the increased adoption of environment-friendly equipment at
airports to carry out different operations.
The North American and
Asian Pacific regions are projected to be high growth potential markets for the
ground support equipment during the forecast period.
The ground support equipment market in the North American region is
expected to witness substantial growth during the forecast period due to
increased demand for ground support equipment from airports of these regions.
Several states in the US
have passed regulations to reduce emissions from airports completely. As such,
airports in these countries are converting their ground support equipment to
electric ground support equipment. States such as California and Seattle have
already implemented these regulations and airports in these states have
overcome the barriers associated with inadequate infrastructure and input
power.
The rapid growth of the
ground support equipment market in the Asia Pacific region can be attributed to
rise in the number of air passenger and freight movements, which lead to the
requirement for the upgradation and expansion of airports. For instance, in
December 2018, the Civil Aviation Administration of China (CAAC) announced the
construction of 216 new airports by 2035 to accommodate the growing number of
air passengers.
Major players in the
ground support equipment market are JBT
Corporation (US), Teleflex Lionel-Dupont (TLD) (France), Mallaghan (UK), Tug
Technologies Corporation (Textron GSE) (US), Tronair (US), MULAG Fahrzeugwerk
(Germany), Guangtai (China), Rheinmetall AG (Germany), ITW GSE (Denmark), and
Cavotec (Switzerland).
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