Aircraft Ground Support Equipment Market expected to reach 9.6 Billion, Will Expand At A CAGR Of 6.4% By 2024-2030.
Generally, the airport ground support equipment works as support equipment found at the airport terminals or airside. This supportive equipment is broadly used for aircraft support and additional passenger. Moreover, this equipment is helpful between the flight stoppages for providing better aircraft service and maintenance. Apart from that, the airport ground support equipment (GSE) is broadly used for cargo handling, aircraft handling, and passenger handling.
In addition, the aids in achieving higher economic efficiency and growth in energy-efficient equipment at airports to reduce noise pollution and Carbon Dioxide are the two factors boosting the Airport Ground Support Equipment Market Growth in the current period. Currently, airports are growing investments to decline their turnaround time (TAT) and increase operating efficiency. This initiative can enhance operational effectiveness to increases profits and reduces maintenance costs. Thus, the airport authorities require to have competent ground support equipment.
The global Airport Ground Support Equipment Market is growing with several market segments. Among them, the mobile GSE segment provides major benefits like convenience and on-time performance, which is estimated to boost up the growth of the global Airport Ground Support Equipment Market during the research timeframe. The electric segment is driving higher growth due to the airport operation needs for carbon-free equipment and the increasing pressure on airport authorities for the equipment. Moreover, the aircraft handling segment is driving the market growth due to its ground support activities at the airport, air passenger traffic maintenance, and growing air passenger traffic. The movement equipment segment is growing its market strength due to increased passenger handling and aircraft deployment. Further, the commercial airport segment is driving the market growth due to the growing airport's developments in developing economies of the countries like India and China because of the increase in aircraft, freight, and passenger traffic.
According to the Airport Ground Support Equipment Market report, the Covid-19 pandemic has negatively affected the airport business. The reduction in the volume of passengers has been evident compared to the previous year's report.
Moreover, the delay in equipment installation and deployment has also raised, which has impacted the growth of the global market. However, the present market situation is stable due to the continuous hard work of the key players.
The demand for airport ground support equipment is increasing due to various countries' increasing investments in airport infrastructure. This led to drive the Airport Ground Support Equipment Market Growth in the review period.
For 2019, Italian airports handled over 193 million passengers, which shows a 4% growth compared to 2018. This shows the growth potential of the globalĀ Airport Ground Support Equipment Market inĀ the forecast period.
The market players of the airport ground support equipment global market have significant growth opportunities due to the increasing need for aircraft maintenance and growing investments in airport infrastructure.
Similarly, the increasing innovations in technologies used in the GSE bring more opportunities for the global market to generate a higher market share for theĀ Airport Ground Support Equipment Market Forecast period.
The global Airport Ground Support Equipment Industry might experience major restraints due to the high cost involved in the older GSE replacement and the high maintenance costs of the equipment.
In the past few years, the cost of electric ground support equipment has witnessed a decline. But, still, this equipment is more expensive as compared to its diesel variants. For instance, electric ground support equipment is difficult to deploy in small- and medium-sized airports.
The increasing adoption of electric GSE at airports can leads to major challenges due to the conventional diesel GSE deployment. Here, the electric GSE needs the power grids supplying power to airports and regular charging, which often results in the overloading of electric grids.
As per the Airport Ground Support Equipment Market Forecast report, the market leaders are looking to combat this situation and bring more scope to the global market.
The increasing airport expansions, warehouse operations at airports, and growing air passenger and freight traffic are responsible for the market growth.
Further, the globalĀ Airport Ground Support Equipment Global Market hasĀ witnessed significant growth in recent years, which is predicted to continue in the upcoming years.
TheĀ Airport Ground Support Equipment MarketĀ has been classified into non-electric, hybrid, and electric based on the power source segment.
Out of all segments, the non-electric segment is projected to acquireĀ Airport Ground Support EquipmentĀ IndustryĀ ShareĀ in 2018. In the forecast period, the electric segment is estimated to generate the highest CAGR.
TheĀ Airport Ground Support Equipment MarketĀ has been classified into mobile and fixed in terms of type segment.
In 2018, the mobile segment was projected to dominate theĀ Airport Ground Support Equipment Market Size.Ā Further, this segment is projected to generate a higher CAGR for the assessment period.
TheĀ Airport Ground Support EquipmentĀ IndustryĀ has been classified into movement equipment and assembly tool based on equipment segment.
For 2018, the movement equipment segment is registered to account for the larger Airport Ground Support Equipment Market Size. Further, this segment is registered to generate a higher CAGR in the upcoming years.
The Airport Ground Support Equipment Industry has been segregated into cargo handling, passenger handling, and aircraft handling in the application segment.
In 2018, the aircraft handling segment was predicted to register the largest Airport Ground Support Equipment Market Share. Further, this segment is predicted to generate the highest CAGR for the research timeframe.
TheĀ Airport Ground Support Equipment Industry hasĀ been segregated into the military and commercial airports in terms of the end-user segment.
In 2018, the commercial airport segment lighting was projected to register larger Airport Ground Support Equipment Market Revenue and is projected to register the higher CAGR during 2019 to 2025.
Regionally, theĀ Airport Ground Support Equipment Market TrendsĀ has been segregated into Asia-Pacific, Latin America, Middle East & Africa, Europe, and North America.
For 2018, the North America Airport Ground Support Equipment Market is projected to account for a significant market share. For instance, the Asia-Pacific is projected to register the highest CAGR for the research timeframe of 2019 to 2028. Many factors contribute to the growth of the Asia-pacific regional global market, such as the increasing government investment by the countries like India for airport infrastructure development and growing new aircraft demand to cater to the rising air passenger traffic.
On May 30, 2023,
Oshkosh Corporation, a leading manufacturer of purpose-built vehicles and equipment, announced that it is acquiring the AeroTech business from JBT Corporation. The acquisition will enable Oshkosh to enter the attractive air transportation support market, witnessing increasing air travel demand, commercial airline investments, and infrastructure improvement.
On Apr. 14, 2023,
Air India, a Tata Group airline, announced signing an agreement with KSU Aviation to deploy TaxiBot ground handling for its Airbus A320 Family of aircraft at Delhi and Bengaluru airports.
Using the semi-robotic TaxiBot aircraft ground handling vehicle will offer multiple benefits, including reduced operational emissions by cutting the need for the aircraft to use its engines during the taxi procedure. In addition, the TaxiBots adoption at the two major Indian airports will allow a potential saving of approx. Fifteen thousand tonnes of fuel over the next three years.
On Mar.31, 2023,
Mallaghan, a leading global manufacturer of airport ground support equipment (GSE), announced a major recruitment drive at its Dungannon headquarters. The company stated that it is creating 30 new positions to respond to sustained customer demand across its expansive product range, witnessing increased order values. As a leading GSE manufacturer, Mallaghan aims to deliver modern, sustainable products to major airlines and airports worldwide.
On Dec. 15, 2022,
Celebi India announced winning a ground-handling contract at Chennai International Airport. The company will provide ground handling support to scheduled & non-scheduled airlines at domestic and international terminals.
Celebi will provide quality ground handling services at Chennai airport and develop a sustainable ecosystem meeting the larger needs of the aviation industry to become carbon neutral very soon. The company has started working on fulfilling the requirements to start the services. The company understands the growing needs of the Indian airlines and aviation industry and is well-equipped to meet current & future airline and passenger traffic.
According to theĀ Airport Ground Support Equipment Market Analysis,Ā the marketing leaders are the right hand of the global market who are contributing more significantly to the global market. These market leaders are:
In the global Airport Ground Support Equipment Market Trends, the key leaders are making efforts to promote the equipment and adopting new innovative techniques to develop the new equipment.
According to the Airport Ground Support Equipment Market Outlook report, the report has involved both primary and secondary research methods to understand the growth aspects of the global market. Further, this report has been analyzed by using both qualitative and quantitative methods.
The Airport Ground Support Equipment Market Outlook report has covered the regional analysis, recent developments, market segments, market dynamics, and competitive analysis. For instance, the global market has witnessed the global market has heavy competition over the various regions.
By Power Source:
By type:
By Equipment:
By Application:
By End-users:
Airport Ground Support Equipment Market Highlights:
Frequently Asked Questions (FAQ) :
The Asia Pacific region is generating a higher Airport Ground Support Equipment Market Share for 2020-2030.
The Airport Ground Support Equipment Market has been segregated into the application, end-users, power source, equipment, and types.
The Airport Ground Support Equipment Market has driven its growth due to the increasing investments in the airport infrastructure, increasing several airport expansions, and increasing warehouse operations at airports.
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