Global Ground Support Equipment Market is Expected to Reach USD 38.56 Billion by 2025 : Fior Markets

New Jersey, NJ, Sept. 04, 2019 (GLOBE NEWSWIRE) -- Upsurge in number of airports and airlines and growing demand for hybrid and electric ground support equipment are two factors stimulating the growth of the market. The  is expected to grow from USD 15.12 Billion in 2017 to USD 38.56 Billion by 2025 at a CAGR of 12.4% during the forecast period 2018-2025, according to the new report published by Fior Markets.

Ground support equipment are defined as support devices used to service the aircraft between flights. These equipment’s are found at the airside and airport terminals for additional passenger or aircraft support. This also helps in the aircraft maintenance and service between flight stoppages. These types of gear empower the development of flying machine from landing until its take-off, and help in dealing with undertakings, for example, aircraft maintenance, moving, refuelling, and so forth at the air terminal. Ground support equipment are either operated or managed by specialized ground handling staff of service providers or of airlines.

Rise in warehouse operations at airports is a major factor driving the market. In addition, increase in number of airports and airlines and growing demand for hybrid and electric ground support equipment stimulates the demand for such systems. However, increase in exports and imports in developing countries may obstruct the growth of the market. Nevertheless, high maintenance of ground support equipment may boost the market in forthcoming years.

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Key players in the ground support equipment market are Tug Technologies Corporation, GATE GSE, Weihai Guangtai Airports Equipment Co., Ltd., Imai Aero-Equipment Mfg. Co. Ltd., Mallaghan Engineering, Ltd., AERO Specialties, Inc., Cavotec SA, Flightline Support Ltd., JBT Corporation, and Douglas Equipment Ltd., among others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the market.

• For instance in 2019, Weihai Guangtai Airport Equipment Co., Ltd., announced an agreement with China Academy of Aviation. The two sides held friendly consultations on the promotion of comprehensive strategic cooperation, and agreed to actively carry out technical cooperation in the field of aviation specialty, taking the R&D of aviation products as the demand orientation. In line with the principle of equality, voluntariness, complementarity, mutual benefit and win-win cooperation, the Institute will give full play to its role in aviation science and technology. The guiding role of the domain is to create a sustainable development strategic partnership. The cooperation between the two sides is mainly led by UAV R&D in the early stage and will be further in-depth cooperation in the later stage.
• For instance in 2019, AERO Specialties Inc., introduces New JetGo 300 Ground Power Unit. The JetGo 300 is designed to provide continuous power for avionics and to start the engines on all DC turbine and turboprop aircraft. JetGo 300 users benefit from a compact unit, user friendly controls and very low operating costs, with the further advantage of low dBA signature and reduced CO2 emissions. Normally, a diesel GPU four times the size of the JetGo 300 is necessary to deliver the peak amperage for starting large turbines. No other GPU delivers the versatility and convenience of the JetGo 300. This compact and efficient diesel GPU also provides single phase AC output to enable ground staff to operate vacuum cleaners or other equipment during night servicing.
• For instance in 2019, Cavotec SA reaffirms leadership in automated mooring with new order in Finland. The MoorMaster system is the only proven and widely used automated mooring technology available in the world today and we’re delighted to have been selected for this key project.

The emulsification segment is dominating the market with the highest share of 62.40% in 2017

The component segment is divided into segments such as equipment and MRO. The emulsification segment has dominated the market in 2017. Increasing purchasing power in emerging economies is one of the key factor driving the market for the ground support equipment for the forecast period.

The commercial segment valued around USD 9.08 Million in 2017

The end use segment includes commercial and defense. The commercial segment is dominating the market with the highest share in 2017 due to increase in freight, aircraft, and passenger traffic at the airport.

The electric segment held the market share of 48.90% in 2017

The type segment is classified into electric, non-electric and hybrid. The electric segment has dominated the market in 2017 owing to high demand for clean, green, and energy efficient ground support equipment technologies.

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The aircraft handling segment held the market share of 47.20% in 2017

The application segment includes aircraft handling, passenger handling and cargo handling. The aircraft handling segment is dominating the market with the highest share in 2017 attributed to the increase in investments in airport infrastructure in the region.

Regional Segment Analysis of the Construction Plastic Market

• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

North America region dominated the global ground support equipment market with USD 6.06 Billion in 2017. The North America region is dominating region due to the increase in the demand for electric and hybrid ground support equipment which is a major factor driving the market for the ground support equipment market in the region. Asia Pacific is growing rapidly region due to the recent investments in airport infrastructure and the growing demand for GSE to cater to the increasing air passenger traffic in developing countries such as India and China.

About the report:

The global ground support equipment market is analysed on the basis of value (USD Billion), volume (Thousand Units), consumption (Thousand Units), imports (Thousand Units) and exports (Thousand Units).All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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