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Ground Support Equipment Market Outlook 2024: Exclusive Report By The Business Research Company
Ground Support Equipment Market
The Business Research Company offers in-depth market insights through Ground Support Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The ground support equipment market size has grown strongly in recent years. It will grow from $8.54 billion in 2023 to $9.32 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to globalization impact, demand for innovative features, airport infrastructure expansion, safety and ergonomics improvements, environmental regulations..
The ground support equipment market size is expected to see strong growth in the next few years. It will grow to $13.12 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to green initiatives and regulations, smart and iot-enabled equipment, focus on safety and ergonomics, upgradation and replacement cycles, integration of autonomous .. Major trends in the forecast period include electric and hybrid gse adoption, smart gse solutions, focus on autonomous gse, sustainable and eco-friendly solutions, modular and customizable equipment..
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Market Segmentation:
The ground support equipment market covered in this report is segmented -
1) By Type: Powered Ground Support Equipment, Non-Powered Ground Support Equipment
2) By Power Source: Non-Electric Ground Support Equipment, Electric Ground Support Equipment, Hybrid Ground Support Equipment, Fuel Cell Vehicle (FCV), Advanced Ground Support Equipment
3) By Platform: Commercial, Military
4) By Application: Aircraft Handling, Passenger Handling, Cargo Handling
Major Driver - Rising Air Traffic And Cargo Transport Fuel Ground Support Equipment Market Growth
The increasing number of air passengers and cargo transportation are expected to propel the ground support equipment market going forward. An air passenger refers to a person who travels by air, typically on a commercial airline, as a means of transportation whereas cargo transportation refers to the movement of goods from one place to another. Ground support equipment plays a crucial role in optimizing processes such as fueling aircraft, handling baggage and loading and unloading cargo making it easier to manage the increased volume of aircraft, passengers and cargo. For instance, in September 2022, according to the International Air Transport Association (IATA), the Canada-based world airline trade organization, the overall passenger traffic increased by 57.0% compared to September 2021. On a global scale, the traffic level has reached 73.8% compared to September 2019, whereas international passenger traffic also witnessed a significant increase of 122.2% compared to September 2021. Therefore, a significant increase in the number of air passengers and cargo transportation is driving the ground support equipment market.
Competitive Landscape:
Major companies operating in the ground support equipment market report are John Bean Technologies (JBT) Corporation, Rheinmetall AG, Textron Ground Support Equipment Inc., Weihai Guangtai Airport Equipment Co. Ltd., Mallaghan Engineering Ltd., AERO SPECIALTIES INC., Cavotec SA, Tronair Inc., TLD Group, ITW GSE, Kalmar Motor AB, GATE GSE, Jungheinrich AG, Lektro Inc., Advanced Charging Technologies, China International Marine Containers (Group) Co. Ltd., Cobus Industries GmbH, ALVEST Group, Flightline Support Ltd., Aeroservices Ltd, Curtis Instruments Inc., JALUX Inc., Dabico Airport Solutions, ADELTE GROUP SL., 247GT Ltd., Mulag Fahrzeugwerk Heinz Wössner GmbH u. Co. KG, TUG Technologies Corporation, Powervamp Ltd., TCR International, Aviaco GSE .
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Top Trend - Single-Operator Deicing Revolutionizes Ground Support Equipment
Technological advancements have emerged as the major trend gaining popularity in the ground support equipment market. Major companies operating in the ground support equipment market are introducing technologically advanced ground support equipment products and offerings to strengthen their position in the market. For instance, in September 2022, Textron Ground Support Equipment Inc., a US-based ground support equipment manufacturer launched Intellimix™ technology for its Safeaero™ 220 single-operator deicer, a ground support equipment. The Intellimix technology enhances the efficiency of the deicing process by providing an optimal combination of heat and fluid. Intellimix technology provides customers with the advantage of a single operator controlling, maneuvering and deicing the aircraft from a single cab, leading to greater efficiency. This technology enhances the capabilities of the Safeaero 220, making deicing even more efficient, safe and dependable.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ground Support Equipment Market Characteristics
3. Ground Support Equipment Market Trends And Strategies
4. Ground Support Equipment Market - Macro Economic Scenario
5. Ground Support Equipment Market Size And Growth
…..
27. Ground Support Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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