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The Global Ground Support Equipment Market is Expected to Reach $9632.39 Million by 2028.

01-17-2024 12:30 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Triton Market Research

GROUND SUPPORT EQUIPMENT MARKET

GROUND SUPPORT EQUIPMENT MARKET

As per Triton's report, the global ground support equipment market, which generated $4447.45 million in 2021, is likely to chart 11.43% of CAGR by the year 2028.

A recent study by Triton Market Research titled 'Global Ground Support Equipment Market,' covers the Global Analysis and Forecasts by End-user (Commercial, Defense), by Application (Passenger Service [Bulk Loaders/Conveyors, Cabin Service Vehicles, Boarding Stairs, Lavatory Service Vehicles, Passenger Boarding Bridges, Passenger Buses], Commercial Cargo Service [Cargo/Container Loaders, Pushback Tractors, Forklifts], Commercial Aircraft Service [Deicers, Ground Power Units, Fuel Trucks, Pre-conditioned Air Units, Hydrant Trucks], Military Cargo Service, Military Aircraft Service), by Power Source (Electric, Non-electric, Hybrid), by Type (Powered Ground Support Equipment, Non-powered Ground Support Equipment), and by Regional Outlook (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa), and Regional Outlook (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

Request Free Sample of the Global Ground Support Equipment Market Report @ https://www.tritonmarketresearch.com/reports/ground-support-equipment-market#request-free-sample?utm_source=PaidPRNew&utm_medium=OpenPR&utm_campaign=TritonPR

According to Triton Market Research, between 2022 and 2028, the global market for ground support equipment is expected to expand at a compound annual growth rate (CAGR) of 11.43%. By 2028, this industry is projected to generate $9632.39 million in sales.

Here's a link to our Regional Reports Summary:
https://www.tritonmarketresearch.com/search-report/GROUND+SUPPORT+EQUIPMENT+MARKET

The advancement and implementation of novel technologies enhance the effectiveness of ground support apparatus, thereby mitigating associated expenses. As a result, airports are making significant investments in cutting-edge technologies to improve their operational efficiency. Over the course of the projection period, technological improvements in GSE are anticipated to significantly accelerate market expansion. However, it is projected that the high initial investment required and the challenges associated with the upkeep and replacement of ground support equipment will limit the expansion of the examined industry.

The market for ground support equipment is segmented into end-user, application, power source, and type. Based on end-user, it is bifurcated into commercial and defense. Based on application, it is divided broadly into passenger service, commercial cargo service, commercial aircraft service, military cargo service, and military aircraft service.

Passenger service is further divided into bulk loaders/conveyors, cabin service vehicles, boarding stairs, lavatory service vehicles, passenger boarding bridges, and passenger buses. And commercial cargo service is further divided into cargo/container loaders, pushback tractors, and forklifts. Whereas, on the basis of commercial aircraft service, it is categorized into deicers, ground power units, fuel trucks, pre-conditioned air units, and hydrant trucks.

According to power source, it is classified into electric, non-electric, and hybrid. And lastly, according to type, it is classified into powered ground support equipment and non-powered ground support equipment.

The Asia-Pacific region is expected to grow the fastest in the global GSE market, over the forecast period. Ground support equipment find applications mainly in aerospace and defense. The market in this region will be on an upswing owing to the increase in the number of air passengers, coupled with investments by the government to improve the aviation infrastructure. Moreover, the deployment of green GSE at airports is also expected to augment the growth of the market in the APAC over the forecast period.

Mallaghan, Hydro Systems KG, Aero Specialties Inc, TLD Group, Kalmar Motor AB, Textron Ground Support Equipment Inc, Rheinmetall AG, Cavotec SA, Tronair, Cobus Industries GmbH, Charlatte America, JBT Aerotech, Champion GSE, CIMC Tianda Holdings Co Ltd, Mulag Fahrzeugwerk, Merlinhawk Aerospace, Weihai Guangtai Airport Equipment Co Ltd, ITW GSE APS, and Air Mak Industries Inc are the well-known players in the ground support equipment market.

Purchase this Report @ https://www.tritonmarketresearch.com/reports/ground-support-equipment-market#purchase-option

Question & Answer: Ground Support Equipment Market

Question 1: What factor is expected to boost the ground support equipment market's growth over the forecast period?
Answer: The development and adoption of new technologies improve the efficiency of ground support equipment, consequently reducing the costs incurred. Airports are thus heavily investing in novel technologies to enhance their operational efficacy. Technological advancements in GSE are expected to majorly boost the market's growth over the forecast period.

Question 2: What factors are anticipated to restrain the market's growth?
Answer: Difficulties pertaining to the maintenance & replacement of ground support equipment and the high amount of initial investments required are anticipated to restrain the studied market's growth.

Question 3: Which region is expected to grow the fastest in the global market for ground support equipment?
Answer: The Asia-Pacific region is expected to grow the fastest in the global GSE market, over the forecast period. Ground support equipment find applications mainly in aerospace and defense. The market in this region will be on an upswing owing to the increase in the number of air passengers, coupled with investments by the government to improve the aviation infrastructure. Moreover, the deployment of green GSE at airports is also expected to augment the growth of the market in the APAC over the forecast period.

Question 4: Which are the well-known players in the ground support equipment market?
Answer: Mallaghan, Hydro Systems KG, Aero Specialties Inc, TLD Group, Kalmar Motor AB, Textron Ground Support Equipment Inc, Rheinmetall AG, Cavotec SA, Tronair, Cobus Industries GmbH, Charlatte America, JBT Aerotech, Champion GSE, CIMC Tianda Holdings Co Ltd, Mulag Fahrzeugwerk, Merlinhawk Aerospace, Weihai Guangtai Airport Equipment Co Ltd, ITW GSE APS, and Air Mak Industries Inc are the well-known players in the ground support equipment market.

Related Report:

Global Forklift Truck Market-
https://www.tritonmarketresearch.com/reports/forklift-truck-market

According to Triton Market Research's analysis, the Global Forklift Truck Market is likely to reach a CAGR of 8.08% over the forecast period 2023-2030.

The growth in the manufacturing industry is the main factor driving the growth of the global forklift truck market. The manufacturing industry has a diverse set of needs pertaining to material handling. Manual material handling puts laborers at a high risk of injuries, like strains and sprains.

Thus, the rising incidences of workplace-related injuries are demanding an increased focus on maintaining a safe working environment. The rising need to provide a safe environment at work has resulted in an increase in the adoption of automated material handling equipment like forklift trucks.

The manufacturing industry includes other industries like electronics & electrical equipment, apparel, furniture & fixture, industrial & commercial machinery, wood, paper & allied industries. Forklift trucks are widely used in varied applications in these industries.

Triton Market Research
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Triton is a leading market research company providing clients with the best online market research data reports.Our offerings include syndicated market insights, customized research reports, and cost-effective consulting services for constructive decision-making.

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Global Ground Support Equipment Industry Global Ground support equipment market is accounted for $11.8 billion in 2015 and is expected to reach $20.06 billion by 2022 growing at a CAGR of 11.0%. Increasing number of air passengers and high expenditure by airport authorities on eco friendly ground support equipment to improve their operational efficiency are some of the factors driving the market. However, usage of worn equipment is restricting the market