Ground Support Equipment Market by 2027 Getting Ready For Future Growth | JBT Corporation, Mallaghan, TLD, Guangtai, AERO SPECIALTIES, Cavotec, Textron GSE, Flightline Support, GATE GSE, Imai Aero-Equipment Mfg

Covid-19 scenario: The advent of Covid-19 has negatively impacted the global ground support equipment industry.
• Companies across the globe are experiencing a disruption in production and a decrease in demand as workers stay at home and passengers stop traveling.
• While the market is down during the pandemic, the demand over the next few years is unlikely to be changed as budgets have been allotted before the Covid-19 outbreak.

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Rise in air traffic and cargo, increased focus of airports on enhancing operational efficiency, high service standards, and leasing of ground support equipment drive the growth of the global ground support equipment market. However, high initial investment hampers the market growth. On the contrary, surge in focus toward procurement of greener GSE and outsourcing of maintenance, repair, and overhaul to the third party, and emerging use of wireless technology are expected to created lucrative opportunities for the market players in the coming years.

As per the report published by Allied Market Research, the global ground support equipment market was pegged at $13.02 in 2019, and is expected to reach $22.0 billion by 2027, growing at a CAGR of 6.7% from 2020 to 2027.

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The global support equipment market is segmented on the basis of type, application, power source, and geography. Based on type, the market is divided into powered GSE and non-powered GSE. The powered GSE segment held the largest share in 2019, accounting for more than two-thirds of the market. However, the non-powered GSE segment is expected to register the highest CAGR of 7.7% during the forecast period.

On the basis of application, the market is categorized into aircraft handling, passenger handling, and cargo handling. The aircraft handling segment dominated the market in 2019, accounting for more than two-fifths of the market. However, the cargo handling segment is expected to portray the highest CAGR of 8.4% during the forecast period.

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Based on power source, the market is divided into electric, non-electric, and hybrid. The non-electric segment held the largest share in 2019, contributing to nearly three-fourths of the market. However, the electric segment is expected to register the highest CAGR of 11.0% during the forecast period.

The global ground support equipment market is analyzed across several regions such as North America, Asia-Pacific, Europe, and LAMEA. The market across North America held the largest share in 2019, accounting for more than two-fifths of the market. On the other hand, the market across LAMEA is expected to register the highest CAGR of 8.6% during the forecast period.

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The global ground support equipment market report includes an in-depth analysis of the major market players such as AERO SPECIALTIES, INC., Textron GSE, Flightline Support Ltd., Imai Aero-Equipment Mfg. Co., Ltd., Mallaghan, Cavotec SA, GATE GSE, JBT Corporation, TLD, and Guangtai.

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