Global Ground Support Equipment Market is expected to grow at a robust CAGR.
Global Ground Support Equipment Market is expected to grow owing
to increasing warehouse operations, along with the constant upgradations at
airports throughout the forecast period.
According to TechSci Research report, “Ground Support Equipment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”,
the Global Ground Support Equipment Market is expected to register robust growth during the forecast period owing to
increasing warehouse operations and constant upgrades at airports, including
the establishment of new terminals, gates, and passenger service equipment.
This growth can be attributed to the rising air passenger traffic and the
growing need to support safer aircraft operations. Furthermore, the rising
environmental consciousness has led governments of various countries to make
significant investments in green initiatives, such as the procurement of
maintenance, repair, and overhaul (MRO) services and green GSE, aimed at
reducing greenhouse gas (GHG) emissions. Additionally, significant
technological advancements, such as the introduction of collaborative
decision-making (CDM) tools, are enhancing operational efficiency and improving
the planning process, further boosting the market. Moreover, the increasing
number of air travels and the refurbishment of GSE products play a crucial role
in fuelling aircraft turnaround, reducing additional costs, and mitigating congestion
and overall delays. These factors create a positive outlook for the market.
A clean and environmentally
friendly environment is imperative in today's context. Current authorities
place significant emphasis on acquiring greener Ground Support Equipment (GSE)
that adheres to strict emission standards set by governments. By adopting
greener GSE, airports can effectively reduce their carbon footprint. This can
be achieved through various measures such as utilizing power coating paint
instead of liquid paint for GSE, designing equipment that can be easily folded
or disassembled to optimize shipping size, promoting the use of electric
vehicles, and implementing equipment recycling practices. Substantial
investments in research and development are being made to accomplish these
objectives.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on the "Global Ground Support Equipment Market"
The Global Ground
Support Equipment Market is segmented based on type, power source, application
and region. Based on type, the market is bifurcated into powered ground support
equipment and non-powered ground support equipment. Based on power source, the
market is bifurcated into electric, non-electric and hybrid. Based on application,
the market is bifurcated into aircraft handling, passenger handling and cargo
handling. Based on region, the market is further bifurcated into North America,
Asia-Pacific, Europe, South America, Middle East & Africa.
Based on application, Cargo Handling segment is expected to dominate the market during the forecast period. The
commercial segment has been further categorized into passenger services, cargo
services, and aircraft services. Cargo services facilitate the transfer of
baggage or cargo to and from airport gates. These services are performed by
baggage tugs, which are extensively utilized for the transportation of luggage,
mail, and cargo within airports, connecting terminals, aircraft, and
processing/sorting facilities. Belt loaders are also employed to load and
unload baggage and cargo to and from an aircraft. Forklifts primarily serve the
purpose of transporting cargo within airport cargo handling facilities.
Conveyor belts or systems are deployed for the movement of baggage within
concourse collection areas and terminal baggage claim areas in airports.
Based on type, Powered
Ground Support Equipment segment is projected to dominate the market throughout
the forecast period. Powered ground support equipment encompasses a wide range
of essential components, such as refuelers, ground power equipment, tugs &
tractors, portable water trucks, generators, baggage conveyor/belt loaders,
passenger buses, catering trucks, passenger boarding stairs, air compressors,
portable floodlights, air conditioners, container loaders, lavatory service
vehicles, and de-icing vehicles. The adoption of energy-efficient ground
support equipment plays a key role in propelling the market for powered GSE. A
notable example is Plug Power, Inc., a leading provider of reliable and
environmentally friendly energy products, which recently implemented GenFuel
hydrogen infrastructure for GSE at the Memphis Airport in the United States.
The utilization of hydrogen fuel cells results in only heat and water as
byproducts, posing no harm to the environment.
Key market players in the Global Ground
Support Equipment Market are:-
- Aero
Specialties Inc.
- Aeroservices
Ltd.
- Cavotec
SA
- Curtis
Instruments Inc.
- ITW GSE
- Jalux
Inc.
- John
Bean Technologies Corporation
- Rheinmetall
Aktiengesellschaft
- Textron
Ground Support Equipment Inc. (Textron Inc.)
- TLD
Group (Alvest Group)
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“The Ground Support Equipment Market in North
America is poised to be the dominant force in the industry. With the upgrade of
the region's old brownfield airports and the growing number of new greenfield
airports, driven by the region's ongoing economic expansion and the increasing
demand for air travel, there is a clear opportunity for growth. North
America-based Ground Support Equipment manufacturers are strategically focused
on developing cost-effective airport equipment. Tenders serve as a prevalent avenue
for suppliers and OCMs to effectively promote their products.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Ground Support Equipment Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast 2018-2028 Segmented By Type (Powered Ground Support
Equipment and Non-Powered Ground Support Equipment), By Power Source (Electric,
Non-Electric and Hybrid), By Application (Aircraft Handling, Passenger Handling
and Cargo Handling), By Region,” has evaluated the future growth
potential of Global Ground Support Equipment Market and provides statistics & information
on market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Ground
Support Equipment Market.
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