Press release
Global Ground Support Equipment Market: A Thriving $13.87 Billion Industry by 2029 Led by Expanding Air Traffic and Technological Advancements
Ground Support Equipment Market Size
What Is The Projected Market Size Of The Global Ground Support Equipment Market And Its Growth Rate?
Breaking down the projected growth of the ground support equipment market in the coming years:
• The market size stood at $9.14 billion in 2024 and is expected to rise to $9.95 billion in 2025, marking a CAGR of 8.9% driven by influence of globalization, airport infrastructure expansion and environmental regulations.
• Forecasted robust growth to $13.87 billion in 2029 at a CAGR of 8.7%, fueled by green initiatives, smart and IoT-enabled equipment, and a focus on safety and ergonomics.
What Is Driving The Growth In The Ground Support Equipment Market?
The surge in the number of air passengers and cargo transports is significantly contributing to the growth of the ground support equipment market. Airways services play a crucial role in moving people and goods, making ground support equipment indispensable for optimizing operations like aircraft fueling, baggage handling, and cargo loading/unloading. The ballooning demand in Asia-Pacific airlines, as reported by an Australia-based Asian airlines magazine, signifies a 27.0% YoY increase in capacity, thereby pushing the expansion of the ground support equipment market.
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Who Are the Key Players Driving Ground Support Equipment Market Growth?
Key market players contributing to the growth of the ground support equipment market:
• 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
What Are The Key Trends In The Ground Support Equipment Market?
Emerging trends shaping the future of the ground support equipment market:
• Electric and hybrid GSE adoption
• Smart GSE solutions
• Focus on autonomous GSE
• Sustainable and eco-friendly solutions
• Modular and customizable equipment
What Are The Segments Of The Global Ground Support Equipment Market?
Exploring the key segments of the ground support equipment market:
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
3) By Platform: Commercial, Military
4) By Application: Aircraft Handling, Passenger Handling, Cargo Handling
Which Region Leads The Ground Support Equipment Market?
In 2024, North America dominated the ground support equipment market, but the pull of rapid growth is shifting to Asia-Pacific during the forecast period. Various global regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Ground Support Equipment Market Global Market Report?
- Market Size Analysis: Analyze the Ground Support Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Ground Support Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Ground Support Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Ground Support Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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