LONDON, May 30, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s Ground Support Equipment Market Report 2023 forecasts the market to grow from $7.8 billion in 2022 to $8.5 billion in 2023, at a compound annual growth rate (CAGR) of 9%. Further, the market will reach $11.5 billion in 2027, growing at a CAGR of more than 8%. In terms of regional analysis, North America held the largest ground support equipment market share in 2022.
The primary drivers of the ground support equipment industry are the rising number of air passengers and the increasing demand for cargo transportation. Air passengers comprise individuals who utilize commercial airlines for air travel, while cargo transportation pertains to the movement of goods from one location to another. Ground support equipment plays a crucial role in streamlining processes such as aircraft refueling, baggage handling, and cargo loading and unloading, facilitating the efficient management of the growing volume of aircraft, passengers, and cargo.
Learn More In-Depth On The Ground Support Equipment Market
https://www.thebusinessresearchcompany.com/report/ground-support-equipment-global-market-report
Major ground support equipment companies include John Bean Technologies (JBT) Corporation, Rheinmetall AG, Textron Ground Support Equipment Inc., Weihai Guangtai Airport Equipment Co. Ltd., Cobus Industries GmbH, ALVEST Group, and Enersys.
Technological advancements have emerged as a key trend within the ground support equipment industry. Key market players are introducing innovative ground support equipment products and solutions to enhance their market position.
For example, Textron Ground Support Equipment Inc., a US-based manufacturer, unveiled Intellimix™ technology in September 2022. This technology enhances the efficiency of the Safeaero™ 220 single-operator deicer, a ground support equipment product, by optimizing the combination of heat and fluid during the deicing process. The implementation of Intellimix technology allows for greater efficiency, as a single operator can control, maneuver, and deice the aircraft from a single cab, streamlining operations and enhancing safety.
Get A Free Sample Of The Global Ground Support Equipment Market Report
https://www.thebusinessresearchcompany.com/sample.aspx?id=9276&type=smp
The global ground support equipment market is segmented as-
1) By Type: Powered Ground Support Equipment, Non-Powered Ground Support Equipment
2) By Power Source: Non-Electric Ground Support Equipment, Electric Ground Support Equipment, Hybrid Ground Support Equipment, Fuel Cell Vehicle (FCV), Advanced Ground Support Equipment
3) By Platform: Commercial, Military
4) By Application: Aircraft Handling, Passenger Handling, Cargo Handling
The ground support equipment market report offers a comprehensive analysis of the global market, highlighting its projected growth and the factors driving its expansion. It provides insights into the market's current state and future prospects by providing thorough analysis on the market size, CAGR, and regional trends.
Ground Support Equipment Global Market Report 2023 by The Business Research Company provides insights on the ground support equipment market size, ground support equipment market segments, ground support equipment market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 4,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Learn More About The Business Research Company
The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model – World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
