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The Aircraft Ground Support Equipment Industry will register a 6.8% CAGR until 2033. The rise in the construction & upgrades of airports to boost market growth
NEWARK, DELAWARE, UNITED STATES, September 14, 2023/EINPresswire.com/ — The global aircraft ground support equipment market size is likely to be valued at US$ 11.0 million in 2023. The increasing expansion and modernization of airports are driving market growth. The market is estimated to garner US$ 21.2 billion in 2033, recording a CAGR of 6.8% from 2023 to 2033
The growing demand for air travel and the subsequent increase in air traffic drive the demand for aircraft ground support equipment. As passenger numbers and flight frequencies rise, airports need efficient and reliable ground support equipment to handle aircraft servicing, baggage handling, fueling, and other ground operations. The expansion of airline fleets and the opening of new routes also contribute to the demand for ground support equipment.
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The expansion and modernization of airports worldwide require the deployment of advanced ground support equipment. As airports invest in infrastructure development projects, such as runway extensions, terminal expansions, and new airport constructions, there is a corresponding need for upgraded ground support equipment to meet the operational requirements. This includes the adoption of automated systems, electric-powered equipment, and advanced technologies to enhance efficiency and passenger experience.
The Asia-Pacific region is experiencing significant growth in the aviation sector, fueled by the increasing demand for air travel and the expansion of airport infrastructure. Countries such as China, India, and Southeast Asian nations have witnessed substantial growth in air traffic. The growing demand for ground support equipment to support ground operations and ensure efficient aircraft servicing.
Key Takeaways from the Aircraft Ground Support Equipment Market Report:
From 2018 to 2022, the aircraft ground support equipment market demand expanded at a CAGR of 6.4%
Based on equipment, the aircraft service segment accounts for a CAGR of 6.7%
By ownership, the rental segment is expected to expand at a CAGR of 6.5% during the forecast period
North America to emerge as a promising aircraft ground support equipment market, capturing a CAGR of 6.7%
The aircraft ground support equipment market in the United Kingdom is predicted to capture a market share of 35.2%
Asia Pacific is to be an opportunistic aircraft ground support equipment market, expected to capture a CAGR of 6% during the forecast period.
Competitive Landscape:
The global aircraft ground-supporting equipment market is fragmented with the presence of several large and medium-scale players. The leading players in the market are investing in strategic agreements to capture market share. Prominent players in the aircraft ground-supporting equipment market are –
JBT Corporation
Air T, Inc.
Textron, Inc.
China International Marine Containers (Group) Co., Ltd
Weihai Guangtai Airport Equipment Co., Ltd.
Cavotec SA,
ALVEST Group
MulagFahrzeugwerk Heinz Wössner GmbH u. Co. KG
Tronair, Inc.
Lektro Inc.
Textron ground support equipment has focused on developing electric ground support equipment to meet sustainability goals. They have introduced electric towbarless aircraft tractors, electric belt loaders, and electric ground power units (GPU) that provide cleaner and quieter operations.
JBT Corporation has been investing in advanced technologies for their ground support equipment They have developed automated guided vehicles (AGVs) for baggage handling, autonomous tow tractors, and intelligent ramp management systems that optimize aircraft parking and movement on the ground.
TLD Group has been actively involved in developing electric ground support equipment They have introduced electric aircraft pushback tractors, electric baggage tractors, and electric GPUs to reduce emissions and noise levels. They also offer advanced GSE management systems that enable real-time monitoring and optimization of ground operations.
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Discover the Key Insights Included in the Aircraft Ground-Supporting Equipment Market Report.
Future Market Insights offers an unbiased analysis of the global aircraft ground-supporting equipment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the aircraft ground-supporting equipment market, the market is segmented based on equipment, power, application, and application across five major regions.
Aircraft Ground Support Equipment Market Segmentation:
By Equipment:
Passenger Service
Boarding Steps & Stairs
Airport Buses & Transport
Beds/Chairs Lifts
Aircraft Service
Refuelers
Tugs & Tractors
Ground Power Unit (GPU)
Air Start Units (ASU)
Lavatory Service Vehicles
De-icing Vehicles
Rescue & Firefighting
Air Conditioners
Others
Cargo Loading
Container Loaders
Belt Loaders
Cargo Transporters
Cargo Dollies
By Power:
Electric
Non-electric
Hybrid
By Ownership:
New Sales
Rental/Lease
By Application:
Commercial
Defense
By Region:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
Author By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil and gas, and Service industries.
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Ronak Shah
Future Market Insights, Inc.
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