The new report by Expert Market Research titled, ‘Global Ground Support Equipment Market Report and Forecast 2022-2027, gives an in-depth analysis of the global ground support equipment market analysis, assessing the market based on its segments like type, application, power source, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2020): USD 13.9 Billion
• Forecast CAGR (2022-2027): 6.7%
• Forecast Market Size (2027): USD 20.6 Billion
Significant growth in the number of passenger and cargo transportation is a major factor in the growth of the ground support equipment market all across the globe. As a result, the number of airlines has increased which caused expansion of operations at airports, which has resulted in the addition of new terminals, gates, passenger service equipment, and other infrastructure. Moreover, to increase connectivity, government all across the world is also expanding the airport infrastructure which is contributing to the market growth. The airports require ground support equipment at each gate due to the increase in passengers, the average number of gates in airports are increasing continuously. A downfall was witnessed in the market due to COVID-19 as the aviation industry witnessed a steep downfall in 2020, however, a V-shaped recovery is witnessed in most of the regions in the aviation market and so in the ground support equipment market.
Industry Definition
Ground support equipment (GSE) are located at airports in the maintenance area near the terminal. These types of equipment are utilised to service the aircraft between flights to assist aircraft operations while they are on the ground. They are operated by qualified technicians to ensure that the aircraft is safe to take off before the next flight. The major role of this equipment includes ground power operations, aircraft mobility, and cargo or passenger loading operations.
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By type, the market is segmented into:
• Powered Ground Support Equipment
• Non-Powered Ground Support Equipment
By application, the market can be segmented into:
• Aircraft Handling
• Passenger Handling
• Cargo Handling
Based on power source, the market is segmented into:
• Electric
• Non-Electric
• Hybrid
The regional markets for the Global Ground Support Equipment Market can be separated into:
• North America
o United States of America
o Canada
• Europe
o United Kingdom
o Germany
o France
o Italy
o Others
• Asia Pacific
o China
o Japan
o India
o ASEAN
o Australia
o Other
• Latin America
o Brazil
o Argentina
o Mexico
o Other
• The Middle East and Africa
o Saudi Arabia
o United Arab Emirates
o Nigeria
o South Africa
o Others
Market Trends
North America is expected to hold a major share in the ground support equipment market as the US is a major hub for the aviation industry for passengers as well as cargo. Growth in the e-commerce industry and expansion of airports will further drive the market in the region. Modification and improvement in airport infrastructures will also aid in market growth. The modification will help the airport authorities to reduce operational time and equipment congestion at airports. Moreover, Asia-Pacific is expected to witness significant growth during the forecast period. Countries such as China, India, and Indonesia are expected to witness a significant increase in passenger and cargo traffic in the near future. It will generate the demand for airports, trained staff, and related equipment.
Key Market Players
The major players in the market include Aero Specialties, Inc., Cavotec SA, Textron Ground Support Equipment Inc., Flightline Support Ltd., Gate GSE, Mallaghan, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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