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Detailed examination of the Airport Stands Equipment Market global market outlook to 2023

11-22-2018 10:29 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Detailed examination of the Airport Stands Equipment Market

Global Airport Stands Equipment Market was valued at $1,096 million in 2016, and is projected to reach at $1,547 million by 2023, growing at a CAGR of 5.20% from 2017 to 2023.

Airport Stand Equipment are majorly used on the aircraft ramp during the arrival and departure of flights to ensure efficient operation of flights by providing adequate safety and comfort for airport staff and passengers. These equipment ensure smooth functioning of aircraft-related operations on the ramp. The role of airport stands equipment involves aircraft mobility, ground power operations, and cargo or passenger loading/unloading operations.

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Continuous rise in global freight and passenger traffic, modernization of airports, and high demand for new aircraft are some of the major factors that propel the growth of the airport stands equipment market. However, long shelf life of airport stand equipment and dearth of skilled workforce restrain the market growth. Conversely, rise in greenfield and brownfield airport projects is expected to provide numerous opportunities for this market.

Preconditioned air unit is expected to grow at a significant pace during the forecast period. The boarding bridge segment led the market in 2016, and is expected to continue this trend in the near future. Furthermore, North America is expected to dominate the overall market during the forecast period, as it is the highest adopter of airport stands equipment.

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The report focuses on the growth prospects and restraints of the market based on the analysis of regional trends. The study provides Porter’s Five Forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market.

Continuous rise in global freight and passenger traffic, modernization of airports, and high demand of new aircrafts drive the growth of the global airport stands equipment market. However, long shelf life of airport stand equipment and dearth of skilled workforce hampers the market growth.

Based on type, the boarding bridges segment led the airport stands equipment market in 2016, and is projected to maintain its dominance in the future. However, the preconditioned air unit segment is expected to witness the highest growth, owing to its increased adoption due to different initiatives taken by countries to reduce the carbon emission of aircraft on the ground.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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