Airport Ground Support Vehicle Market Key Facts, Market Size, Dynamics, Segments and Forecast Predictions 

The global airport ground support vehicle market size is expected to experience considerable growth in the forthcoming years. Fortune Business Insights in its upcoming report, titled, "Airport Ground Support Vehicle Market, 2022-2029.", observes that the increasing focus on airport expansion activities and the rising air traffic are expected to boost the product's demand during the forecast period. Moreover, increasing the adoption of advanced technologies will bode well for the growth of the market. For instance, in February 2021, ThorDrive showcased how the LIDAR sensors are adopted to power their cargo and baggage ground support tractors at the Cincinnati International Airport. Built under its autonomous vehicle program, the sensor can aid in automatically transporting baggage and cargo to and from aircraft and facilities at any given time of the day.

The airport ground support vehicle market is a critical component of the aviation industry, as it includes vehicles that are essential for the efficient and safe operation of airports worldwide. These vehicles include baggage tugs, passenger buses, fuel trucks, catering trucks, and other specialized equipment. The market for airport ground support vehicles is driven by the growth of the aviation industry, with increasing air traffic leading to higher demand for these vehicles.

Moreover, the implementation of strict environmental regulations is driving the development of electric and hybrid ground support vehicles, as these vehicles produce less noise and emissions than traditional diesel-powered vehicles.

What does the Report Include?

The global market for airport ground support vehicle report includes in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth in the forthcoming years. Moreover, the research analyst has adopted several research methodologies to obtain information about the current trends and industry developments that will drive the market growth between 2022 and 2029.

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Market Segmentation:

Based on the power source, the global market for airport ground support vehicle is trifurcated into electric vehicles, non-electric vehicles, and hybrids. On the basis of application, the market is bifurcated into commercial and military & defense. Lastly, based on the region, the market is segregated into Asia-Pacific, Europe, North America, and Rest of the World.

DRIVING FACTORS

Increasing Focus on Airport Expansion to Promote Growth

Although the COVID-19 pandemic led to fewer numbers of airlines operating worldwide, the number of flyers is about to rise significantly in the coming years. For instance, several governments are investing in airlines to ensure positive turnaround for the aviation industry. Furthermore, according to the report by the Economic Times, by 2030 it is estimated that India will have around 855 million air travelers. The growing number of air passengers is expected to propel the airport authorities to expand the facilities and to provide an enhanced travel experience for the passengers. Therefore, the increasing focus on airport expansion is expected to boost the global airport ground support vehicle market growth in the forthcoming years.

REGIONAL INSIGHTS

North America - The region is likely to remain at the forefront and will hold the largest global airport ground support vehicle market share in the forthcoming years. This is attributable to the increasing investment in the expansion of airports in countries such as the U.S.

Europe - The market in the region is expected to experience considerable growth backed by the increasing government focus to develop advanced and smart airports in countries such as Germany, France, and Spain that will propel the adoption of advanced airport ground support vehicles between 2021 and 2028.

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COMPETITIVE LANDSCAPE:

Facility Expansion by Prominent Companies to Amplify Their Market Positions

The global market for airport ground support vehicle is consolidated by the presence of major companies that are focusing on expanding their facilities to cater the growing aviation industry demand. In addition to this, other key players are striving to maintain their presence by adopting strategies such as collaboration, partnership, and merger and acquisition that will bode well for the market growth.

Industry Development:

February 2021 - Oslo Airport introduced the Vestergaard Elephant e-BETA, a new electrically operated deicing unit. The airport aims to provide efficient aircraft de-icing operation and further lower carbon footprint through the Menezes Aviation operated vehicle.
List of the Companies Operating in the Global Market:

JBT Corporation (The U.S.)
Tug Technologies Corporation (Textron GSE) (The U.S.)
Tronair (US)
Guangtai (China)
Rheinmetall AG (Germany)
Cavotec (Switzerland)
MULAG Fahrzeugwerk (Germany)
ITW GSE (Denmark)
Teleflex Lionel-Dupont (France)
Mallaghan (UK)
Among others
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