What’s Driving the Ground Support Equipment Market Size? |Key Players are Cavotec S.A., Cobus Industries GmbH, Enersys, Gate GSE, Advanced Charging Technologies, ITW GSE, Kalmar Motors, Mallaghan, Telemeter Electronic GmbH
Based on power, the ground support equipment market share is categorized into non-electric, electric, and hybrid. The growth in the electric segment can be attributed to the benefits offered including lower noise, no emissions, and higher efficiency. Moreover, compliance to stringent regulatory norms along with reduced maintenance requirements further accentuates the segment share. Airport operators are continuously engaged in replacing their ageing fleet with advanced and efficient electric equipment, thereby expanding the segment size.
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The ground support equipment market, based on application can be classified into aircraft handling, passenger handling, and cargo handling. The passenger handling equipment will showcase significant growth owing to increasing air passenger traffic across the globe. For instance, according to the IATA, Revenue Per Kilometers (RPK) increased by around 6.5% in February 2019, compared to the previous year.
For instance, according to the International Air Transport Association (IATA), in September 2018, freight volume continued showcasing an upward trend of around 2.0% growth in freight tonne kilometers (FTK) compared to the previous year. Moreover, rising demand for technologically advanced cargo handling equipment with incorporated superior temperature handling and safe transportation including cargo loaders, pallet loaders, and ULD trucks among others are further expanding the ground support equipment market.
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Ground support equipment market players are continuously investing in R&D for incorporating advanced telematics and management solutions. Moreover, the addition of RFID technologies along with connected services provide airliners and ground service handlers with real-time insights and updates on the status of the cargo handling and vehicle activities. Additionally, the advanced technologies and solutions enable players to actively engage their equipment to reduce turnaround time and improve efficiency significantly.
Based on the type, the ground support equipment market is bifurcated into mobile and fixed equipment. The mobile ground support equipment will showcase significant growth owing to the higher requirement for such equipment including cabin service vehicles, passenger buses, aircraft fueling trucks, and lavatory vehicles for improving in-flight experience. Moreover, increasing investments from government organizations and airport authorities for developing new infrastructure along with expansion of older airports are further boosting the segment share.
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Ground Support Equipment Market is set to achieve lucrative growth during the forecast period as it enables airlines to efficiently manage their daily operations for felicitating their daily routine flights journey without causing any delays. The ground support equipment is majorly focused at reducing Aircraft-On-Ground (AOG) timing significantly to improve overall flight experience.
North America is expected to contribute significant revenue share in the ground support equipment market. This can be attributed to the presence of multiple airports across the region. Additionally, increasing frequency of aircraft landing and take-off operations along with increasing adoption of electric GSE in such airports for reducing carbon footprint are further expected to support the industry share over the projected timeframe.
Few of the key players operating in the ground support equipment market include Cavotec S.A., Cobus Industries GmbH, Enersys, Gate GSE, Advanced Charging Technologies, and ITW GSE. The other notable players include JBT Corporation, Kalmar Motors, Mallaghan, Telemeter Electronic GmbH, Tug Technologies Corporation, Mulag Fahrzeugwerk, TLD, and Rheinmetall AG. Strategic long-term contacts and agreements with airport authorities are among the key strategies adopted by industry players to enhance their market share.
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