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Ground Support Equipment Market

Ground Support Equipment Market

Ground Support Equipment Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

148

Base Year:

2022

Date

Dec - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1942

Segments Covered
  • By Type By Type Powered Ground Support Equipment, Non-Powered Ground Support Equipment
  • By Power Source By Power Source Electric, Non-Electric, Hybrid
  • By Application By Application Aircraft Handling, Passenger Handling, Cargo Handling
  • By Region By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Base YearBase Year: 2022
Forecast YearsForecast Years: 2023 - 2030
Historical YearsHistorical Years: 2017 - 2021
Revenue 2022Revenue 2022: USD 3.22 Billion
Revenue 2030Revenue 2030: USD 5.72 Billion
Revenue CAGRRevenue CAGR (2023 - 2030): 7.40%
Fastest Growing Region Fastest Growing Region (2023 - 2030) Asia Pacific
Largest Region Largest Region (2022): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Ground Support Equipment Market Share

The Global Ground Support Equipment Market is valued at USD 3.22 Billion in 2022 and is projected to reach a value of USD 5.72 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 7.40% over the forecast period.

Premium Insights

Increased air traffic and cargo, increased airport focus on improving operational efficiency, high service standards, and leasing of Ground Support Equipment are some important factors influencing the growth of the Ground Support Equipment Market. The industry is also strongly impacted by large initial expenditures, a shift in focus toward purchasing greener GSE, outsourcing maintenance, repair, and overhaul (MRO) to a third party, and an increase in the usage of wireless technologies. The market for Ground Support Equipment is also growing because of the rising demand for technologically improved cargo handling equipment that incorporates superior temperature handling and safe transportation, such as cargo loaders, pallet loaders, and ULD trucks. Players in the Ground Support Equipment Market consistently spend money on research and development to include cutting-edge telematics and management solutions. Additionally, the integration of RFID technology and connected services gives ground service handlers and airliners access to real-time information and updates on the status of the vehicle and cargo handling operations. Market players can actively use their equipment to drastically cut turnaround time and boost efficiency thanks to cutting-edge technology and solutions. Additionally, because of strict regulatory standards, players in the business need to make major investments in more effective and environmentally friendly aviation Ground Support Equipment (AGSE).

Ground Support Equipment Market Size, 2022 To 2030 (USD Billion)

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Market Segmentation

The Ground Support Equipment Market is segmented based on Application, Power Source, Type, and Region. Based on Type, the market is segmented as Powered Ground Support Equip Menand and Non-Powered Ground Support Equipment. Furthermore, based on the Power Source, the market is segmented as Electric, Non-Electric, and Hybrid. In addition, based on the Application, the market is segmented as Aircraft Handling, Passenger Handling, and Cargo Handling. Additionally, based on the Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

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Based on Application

The aircraft handling category dominated the market in 2021

Increasing air traffic, the need for more cargo space, and technical advancements in Ground Support Equipment are some factors propelling the market for aircraft ground support equipment. Airports are always making important upgrades to maximize operational effectiveness and shorten turnaround times. The Ground Support Equipment is used extensively across airports since it is essential for accelerating operations.

Based on Power Source

The electric category dominated the market in 2021

The electric segment is anticipated to grow at the highest rate during the forecast period. Electric vehicles' increased popularity can be ascribed to their advantages, which include less noise, zero emissions, and improved efficiency. Adherence to strict regulatory standards and minimal maintenance requirements further emphasize the segment share. Airport operators are always working to replace their outdated fleet with cutting-edge and effective electric machinery, which is adding to the segment’s growth.

Based on Regional Analysis

North America is expected to hold a significant share of the market during the forecast period.

North America is estimated to dominate the market with the highest CAGR forecast period. The Asia Pacific is witnessing a rise in government regulations and initiatives encouraging manufacturers to opt for Ground Support Equipment. Moreover, China, the biggest manufacturing hub globally, is changing its packaging habits and materials to make them more environmentally friendly. The sheer volume of the products transported out of China positively impacts the market growth in the Asia Pacific region. In addition, the Australian government has set out the existence of several airports throughout the area that can be blamed for this.

Additionally, it is anticipated that the industry share will be supported throughout the forecast period by rising aircraft landing and takeoff frequencies and rising usage of electric GSE in such airports to reduce carbon footprint. Investments in brownfield airport projects are fueling the development of the North American market for Ground Support Equipment to renovate and improve airport infrastructures. There is intense pressure on airports and Ground Support Equipment manufacturers to cut emissions. Ground Support Equipment manufacturers now offer environmentally friendly equipment because of the zero-emission policies implemented in several North American nations.

Competitive Landscape

The key players in the Ground Support Equipment Market include- Aero Specialties Inc., Aeroservices Ltd., Cavotec SA, Curtis Instruments Inc., ITW GSE, Jalux Inc., John Bean Technologies Corporation, Mallaghan, Rheinmetall Aktiengesellschaft, Textron Ground Support Equipment Inc. (Textron Inc.), TLD Group (Alvest Group), Weihai Guangtai Airport Equipment Co. Ltd. and others.

Recent Developments

· In October 2020, EnerSys launched the Nexus’s PURE PACK battery and onboard charging system. The new comprehensive solution consists of the latest generation of Nexus’s PURE Thin Plate Pure Lead (TPPL) batteries, combined with an integrated Delta-Q onboard charger and Wi-qi battery monitoring device.

· In April 2019, cavorted received a contract worth USD 9.6 million from the Bahrain International Airport to provide next-generation aircraft ground cooling systems. The contract also includes designing, engineering, installing, testing, and commissioning of Cavorted Sub-freezing Dual Blower DX Arctic PCA units as well as delivery of in-ground pit systems that reduce the number of vehicles required to service an aircraft.

Segmentation of Ground Support Equipment Market

Parameter Details
Segments Covered

By Type

  • Powered Ground Support Equipment
  • Non-Powered Ground Support Equipment

By Power Source

  • Electric
  • Non-Electric
  • Hybrid

By Application

  • Aircraft Handling
  • Passenger Handling
  • Cargo Handling

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Aero Specialties Inc.
  • Aeroservices Ltd.
  • Cavotec SA
  • Curtis Instruments Inc.
  • ITW GSE
  • Jalux Inc.
  • John Bean Technologies Corporation
  • Mallaghan
  • Rheinmetall Aktiengesellschaft
  • Textron Ground Support Equipment Inc. (Textron Inc.)
  • TLD Group (Alvest Group)
  • Weihai Guangtai Airport Equipment Co. Ltd.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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FAQ
Frequently Asked Question
  • The global Ground Support Equipment valued at USD 3.22 Billion in 2022 and is expected to reach USD 5.72 Billion in 2030 growing at a CAGR of 7.40%.

  • The prominent players in the market are Aero Specialties Inc., Aeroservices Ltd., Cavotec SA, Curtis Instruments Inc., ITW GSE, Jalux Inc., John Bean Technologies Corporation, Mallaghan, Rheinmetall Aktiengesellschaft, Textron Ground Support Equipment Inc. (Textron Inc.), TLD Group (Alvest Group), Weihai Guangtai Airport Equipment Co. Ltd..

  • The market is project to grow at a CAGR of 7.40% between 2023 and 2030.

  • The driving factors of the Ground Support Equipment include

    • Expansion and development of airport infrastructure

  • North America was the leading regional segment of the Ground Support Equipment in 2022.