AIRCRAFT GROUND SUPPORT EQUIPMENT MARKET REPORT OVERVIEW
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global aircraft ground support equipment market size was USD 1725.12 million in 2021 and market is projected to USD 4839.39 million by 2032 at CAGR 9.83% during the forecast period
Ground Support Equipment (GSE) is usually found in many airports and is used as a support equipment. The exact location where this equipment is found is on the apron, near the service area of the terminal. This equipment will help in operating the aircraft whilst it is present on the ground.
GSEs are used for increasing the operational efficiency and form an integral part of the logistical infrastructure of an airport. GSEs are very useful in transporting these cargo and inventories. All of these factors are considered as the factors driving the aircraft ground support equipment market share.
COVID-19 Impact: Reduction in Number of People Travelling Through Aircrafts Amidst Pandemic Decreased Market Share
The pandemic of COVID-19, was a very severe disease that caused a temporary halt in the functioning of numerous industries. As the virus was spreading at a very rapid rate, strict lockdowns and social distancing norms were imposed. This was the primary reason for, the shutdown of several industries.
Many restrictions were also imposed on, travelling. International travelling was not allowed for a certain period of time. This negatively affected the airline companies. People travelling to other countries had to go through rigorous check ups and quarantine to be able to continue their travelling. As a result, there was drastic drop in the number of people travelling to other countries. Therefore, aircraft ground support equipment market saw a decline in its demand during pandemic.
LATEST TRENDS
"Advancements in Airport Infrastructures to Increase Market Growth"
Several innovations have been introduced to improve the infrastructure of airports. GSEs form a very important part of the infrastructures of airports. Ground support equipments consist of all those devices that help in controlling and handling aircrafts, goods, cargo, and passengers.
Using ground support equipments will develop the operation efficiency within an airport. Some of the important equipments present in GSEs include tow tractors, passenger cabins, container loaders, aerial lifts, ground power units, and pushback tugs. These equipments are being installed in most of the airports due to the support provided by them for the proper functioning of aircrafts.
AIRCRAFT GROUND SUPPORT EQUIPMENT MARKET SEGMENTATION
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- By Type:
The market can be divided into the following segments depending on their respective types:
Hybrid support equipment, electric support equipment, and, non-electric support equipment. The hybrid support equipment segment is anticipated to dominate the market during the forecast period.
- By Application:
Based on application, the market share is bifurcated into the following segments:
Passenger handling, cargo handling, and, others. The passenger handling segment is expected to dominate the market during the forecast period.
DRIVING FACTORS
"Availability of Eco-Friendly Variants of Ground Support Equipments to Amplify Market Growth"
Aviation board and regulatory authorities have taken up the initiatives to create and implement eco-friendly options in their operating systems. This step taken by the aviation board has increased the demand for eco-friendly and green variants of GSEs.
With the growing environmental concerns, certain airline companies are developing nature friendly options like substituting their diesel and petrol-based ground support equipment to solar power equipments. Several other countries are also trying to pass legislations against the use of fuel based equipments. Electric airport ground support equipments have become the new trend in the market. All these factors are prone to accelerate aircraft ground support equipment market growth.
"Increase in The Number of Incoming Cargo Goods to Impede Market Growth"
There has been an increase in the number of cargo goods coming into the airports. This has made warehouse operations necessary. Post pandemic, the aviation industry witnessed a tremendous growth owing to the increased number of passengers travelling and going on vacations.
Cargo that come into airports will be stored in airport warehouses. Later they are shipped. Airport inventories are used for the purpose of storing spare parts of aircrafts like tires. GSEs are very useful in transporting these cargo and inventories from one place to another. These equipments increase the convenience of transporting inventories from the warehouse to airport. This factor is fueling market growth.
RESTRAINING FACTOR
"Higher Charges for Electric GSEs to Bring Down Market Share"
As a step to promote environmental-friendly operations, many airlines have adopted electric ground support equipments instead of fuel based equipments. This has increased the infrastructure charges increasing the total cost. There has been a requirement for airlines to invest in charging stations.
Introduction of wheel tug system as a better alternative for GSEs is affecting the market growth. Wheel tug can adopt motor with greater torque. Wheel tug systems are very light in weight. They help in saving fuel and are made up of titanium wheel. This substitute can deteriorate aircraft ground support equipment market share.
AIRCRAFT GROUND SUPPORT EQUIPMENT MARKET REGIONAL INSIGHTS
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"Asia Pacific to Dominate Market Share "
Asia Pacific is predicted to dominate the market share in upcoming years. The major reason for this can be attributed to the increasing number of people travelling through airlines. This has increased the number of greenfield and brownfield airports.
With the increase in the number of airports, installation of GSEs have also increased. Development of low-cost equipments in this area is another factor boosting the market growth. Joint ventures between top operating companies have taken place in the recent years. All of these factors have propelled the market growth in Asia Pacific.
Key Industry Players
"Leading Players adopt Acquisition Strategies to Stay Competitive "
Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.
List of Market Players Profiled
- Gate GSE (India)
- JBT Corporation (U.S.)
- Tronair (U.S.)
- Aero Specialties (U.S.)
- Toyota Industries Corp (Japan)
- TLD Group (E.U.)
- Mallaghan (Ireland)
- Nepean (U.S.)
- Global Ground Support (U.S.)
- Tug Technologies Corporation (U.S.)
- Guangtai Airports Equipment (China)
- MULAG (Germany)
- DOLL (U.K.)
- Shenzhen TECHKING (China)
- Fast Global Solutions (U.S.)
- Hangfu Airdrome Equipment (China)
Report Coverage
The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. On reading the report the user will be able to understand and interpret all the aspects of the market.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 1725.12 Million in 2021 |
Market Size Value By |
US$ 4839.39 Million by 2032 |
Growth Rate |
CAGR of 9.83% from 2021 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the aircraft ground support equipment market expected to touch by 2032?
The aircraft ground support equipment market is projected and estimated to touch USD 4839.39 million by 2032.
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What CAGR is the aircraft ground support equipment market expected to exhibit by 2032?
The aircraft ground support equipment market is expected to exhibit a CAGR of 9.83% by 2032.
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Which are the driving factors of the aircraft ground support equipment market?
GSEs are used for increasing the operational efficiency and form an integral part of the logistical infrastructure of an airport. GSEs are very useful in transporting these cargo and inventories.
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Which are the top companies operating in the aircraft ground support equipment market?
Gate GSE, JBT Corporation, Tronair are the top leading companies in the aircraft ground support equipment market.