DUBLIN--(BUSINESS WIRE)--The "Ground Support Equipment Market by Point of Sale (Equipment, Maintenance), Type (Mobile, Fixed), Power Source (Non-Electric, Electric, Hybrid), Platform (Commercial, Military), Autonomy, Ownership and Region- Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global ground support equipment market is projected to grow from USD 5.6 billion in 2022 to USD 7 billion by 2027, at a CAGR of 4.5% from 2022 to 2027.
Some of the factors that are expected to fuel the growth of the ground support equipment market are Increasing awareness about environmental concerns will create significant demand for eco-friendly and greener variants of GSE in the aviation sector. For example, Bahrain Airport Services Company recently announced its plans to transition to greener operations with a key focus on acquiring a new product that will be powered by solar energy or electricity to replace diesel and petrol-powered ground vehicle fleets at airports in the next five years.
Several states in the US, as well as Spain, Germany, and the Netherlands, have passed legislation to ban the use of diesel ground support equipment, resulting in the replacement of this equipment with electric ones, thereby fueling the demand for electric ground support equipment.
Based on power source, the non-electric segment is expected to lead the ground support equipment market in 2022
Based on power source, the ground support equipment market has been segmented into non-electric, electric, and hybrid. The non-electric segment is estimated to account for the largest share of 54.6% of the market in 2022. The demand for non-electric ground support equipment is gradually reducing due to changes in carbon emission norms as well as the adoption of the green airport concept globally. However, cost being one of the major barriers to the adoption of electric GSE.
Based on autonomy, the ground support equipment market has been segmented into conventional/manned, remotely operated, and autonomous. The conventional/manned segment is estimated to account for the largest share of 63.5% of the ground support equipment market in 2022. The rise in air traffic, freight transportation, and passenger movement are expected to drive the demand for conventional/manned GSE.
The North American region is estimated to account for the largest share of the ground support equipment market in 2022
The North American region is expected to lead the ground support equipment market in 2022. The market in the region is highly competitive, owing to the presence of a large number of Original Component Manufacturers (OCMs) and Original Equipment Manufacturers (OEMs) such as TUG Technologies and Gate GSE. Ongoing modernization programs of existing airports in the US are also expected to drive the growth of the North America ground support equipment market during the forecast period.
Research Coverage
This research report categorizes the ground support equipment market on the basis of point of sale (equipment and maintenance services), platform (commercial and military), type (mobile and fixed), power source (non-electric, electric, and hybrid), autonomy (conventional/manned, remotely operated, and autonomous), and ownership (airport, airline, GSE service provider/operator, and GSE lessor). These segments have been mapped across major regions, namely, North America, Europe, Asia Pacific, Middle East, Latin America, and Africa.
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the ground support equipment market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; contracts, joint ventures, partnerships & agreements, acquisitions, and new product launches associated with the ground support equipment market. Competitive analysis of upcoming startups in the ground support equipment market ecosystem is covered in this report.
Major players operating in the ground support equipment market are John Bean Technologies (JBT) Corporation (US), Jungheinrich AG (Germany), Weihai Guangtai Airport Equipment Co. Ltd. (China), Tronair (US), and TK Elevators (Germany), among others.
Market Dynamics
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Drivers
- Increase in Passenger Traffic and Expansion of Airport Infrastructure
- Rise in Warehouse Operations at Airports
- Military Airports Expanding Their Role to Civil Operations
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Restraints
- Adoption of Wheeltug System
- High Handling Cost of Ground Support Equipment
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Opportunities
- Increasing Adoption of Greener Variants of GSE
- Innovation in Technologies Used in Ground Support Equipment
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Challenges
- Inadequate Charging Infrastructure for Electric Ground Support Equipment
- High Cost of Training and Lack of Skilled Personnel
Companies Profiled
- Adelte Group SL
- Advanced Charging Technologies
- Aero Sigma Group Inc.
- Aviramp Ltd.
- China International Marine Containers (Group) Ltd.
- Cobus Industries GmbH
- Dabico Airport Solutions
- Enersys
- GT Ltd.
- ITW GSE
- Jalux Inc.
- John Bean Technologies (JBT) Corporation
- Jungheinrich AG
- Kit Aero
- Mallaghan
- Mulag Fahrzeugwerk
- Rheinmetall AG
- Sinfonia Technology Co. Ltd.
- Teleflex Lionel-Dupont (TLD)
- Textron Ground Support Equipment Inc.
- TK Elevator GmbH
- Toyota Material Handling, Inc.
- Tronair Inc.
- Weihai Guangtai Airport Equipment Co. Limited
- Xced GSE
For more information about this report visit https://www.researchandmarkets.com/r/wgm68j
