Ground Support Equipment Market Trend
OREGAON, PORTLAND, UNITED STATES , October 11, 2023 /EINPresswire.com/ — Allied Market Research recently published a report, “Ground Support Equipment Market by Type (Powered GSE and Non-powered GSE), Application (Aircraft Handling, Passenger Handling, and Cargo Handling), and Power Source (Electric, Non-Electric, and Hybrid): Global Opportunity Analysis and Industry Forecast, 2020–2027”. According to the report, the global support equipment industry was pegged at $13.01 billion in 2019, and is projected to reach $22.00 billion by 2027, growing at a CAGR of 6.7% from 2020 to 2027.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/2174
Factors such as increase in air traffic and cargo, rise in focus of airports on enhancing operational efficiency, high service standards, and leasing of ground support equipment. However, high initial investments required for purchasing of the ground support equipment are expected to impede the stated market growth. Further, surge on focus toward procurement of greener GSE, outsourcing of maintenance, repair, and overhaul (MRO) to third party, and increase inuse of wireless technology is expected to create numerous opportunities for the key players operating in the global ground support equipment market.
𝐌𝐚𝐣𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬
AERO SPECIALTIES, INC.
Textron GSE
Cavotec SA
Flightline Support Ltd.
Imai Aero-Equipment Mfg. Co., Ltd.
GATE GSE
JBT Corporation
TLD
Mallaghan
Guangtai
𝐌𝐚𝐣𝐨𝐫 𝐝𝐫𝐢𝐯𝐞𝐫𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭
Rise in air traffic and cargo, increased focus of airports on enhancing operational efficiency, high service standards, and leasing of ground support equipment have boosted the growth of global ground support equipment market. However, high initial investment hampers market. On the contrary, increased focus toward procurement of greener GSE, outsourcing of maintenance, repair and overhaul to the third party, and emerging use of wireless technology are expected to create lucrative opportunities for the market players in the coming years.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 – https://www.alliedmarketresearch.com/ground-support-equipment-market/purchase-options
𝐓𝐡𝐞 𝐩𝐨𝐰𝐞𝐫𝐞𝐝 𝐆𝐒𝐄 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭
By type, the powered GSE segment held the largest share in 2019, accounting for more than two-thirds of the global ground support equipment market, due to deployment of energy-efficient ground support equipment. However, the non-powered GSE segment is projected to register the highest CAGR of 7.7% during the forecast period, owing to ease of installation and requirement of much lesser maintenance.
𝐓𝐡𝐞 𝐜𝐚𝐫𝐠𝐨 𝐡𝐚𝐧𝐝𝐥𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟐𝟕
The cargo handling segment is projected to manifest the highest CAGR of 8.4% during the study period, due to growth in the shipping & logistics industry. However, the aircraft handling segment held the largest share in 2019, contributing to more than two-fifths of the global ground support equipment market, owing to increase in the number of aircrafts and frequency of flights worldwide, outsourcing of GSE among airlines and major advancements and investments in efficient GSEs.
𝐓𝐡𝐞 𝐧𝐨𝐧-𝐞𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐩𝐨𝐰𝐞𝐫 𝐬𝐨𝐮𝐫𝐜𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐬𝐡𝐚𝐫𝐞
Based on power source, the non-electric segment accounted for the largest share in 2019, holding nearly three-fourths of the global ground support equipment market, owing to its wide adoption as they operate on conventional energy sources. However, the electric power source segment is projected to reach the highest CAGR of 11.0% during the forecast period, due to factors such as low-end torque and efficient frequent start/stops, idle time, and short required ranges.
𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐢𝐨𝐧’𝐬 𝐬𝐡𝐚𝐫𝐞
The market across North America held the largest revenue in 2019, accounting for more than two-fifths of the market, owing to focus on eco-friendly ground support equipment by converting GSE fleets to electric and reducing carbon footprints. However, the global ground support equipment market across LAMEA is projected to register size the highest CAGR of 8.6% during the forecast period, due to ongoing developments and airport expansions in the region.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/2174
𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲
➡️By power source, the non-electric segment generated the highest revenue in the ground support equipment market analysis in 2019.
➡️LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
➡️This study includes analytical depiction of the market along with current trends and future estimations to determine the imminent investment pockets
➡️In 2019, Latin America led the market in the LAMEA region.
➡️The leading companies listed in market report expect high revenue from ground support equipment market returns.
𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬
https://www.alliedmarketresearch.com/airport-baggage-handling-system-market – Airport Baggage Handling System Market
https://www.alliedmarketresearch.com/airport-stands-equipment-market – Airport Stand Equipment Market
https://www.alliedmarketresearch.com/airport-information-systems-market – Airport Information Systems Market
https://www.alliedmarketresearch.com/commercial-aircraft-landing-gear-market – Commercial Aircraft Landing Gear Market
David Correa
Allied Market Research
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