Press release
Global Ground Support Equipment Market to Reach $13.87 Billion by 2029, Growing at 9% CAGR
Ground Support Equipment Market Size
The growing number of air passengers and cargo transportation is driving the ground support equipment market by enhancing operations like fueling, baggage handling, and cargo loading. According to Asian Airlines Magazine in July 2024, Asia-Pacific airlines saw a 27.0% rise in demand, a 26.0% increase in capacity, and an 81.6% load factor, reflecting a 0.6 percentage point growth from May 2023. This surge in air travel and cargo transport is boosting demand for ground support equipment.
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What Is the projected market size and growth rate for the ground support equipment market?
The ground support equipment market has experienced significant growth in recent years. It is projected to expand from $9.14 billion in 2024 to $9.95 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.9%. The growth observed in the past period can be attributed to factors such as the impact of globalization, rising demand for advanced features, airport infrastructure development, enhancements in safety and ergonomics, and compliance with environmental regulations.
The ground support equipment market is expected to experience substantial growth in the coming years. It is projected to reach $13.87 billion in 2029, with a compound annual growth rate (CAGR) of 8.7%. The anticipated growth during the forecast period can be attributed to green initiatives and regulations, the adoption of smart and IoT-enabled equipment, a strong emphasis on safety and ergonomics, equipment upgrades and replacements, and the integration of autonomous technology. Key trends expected in this period include the adoption of electric and hybrid GSE, the rise of smart GSE solutions, a focus on autonomous GSE, the development of sustainable and eco-friendly solutions, and the introduction of modular and customizable equipment.
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What new trends are reshaping the ground support equipment market and its opportunities?
Technological advancements have become a key trend gaining traction in the ground support equipment market. Leading companies in this market are introducing innovative ground support equipment products and solutions to strengthen their market position. For example, in September 2022, Textron Ground Support Equipment Inc., a US-based manufacturer of ground support equipment, launched Intellimix technology for its Safeaero 220 single-operator deicer. This technology optimizes the deicing process by providing the ideal combination of heat and fluid. Intellimix technology allows a single operator to control, maneuver, and deice the aircraft from a single cab, improving overall efficiency. By enhancing the capabilities of the Safeaero 220, this technology makes the deicing process more effective, safe, and reliable.
What major market segments define the scope and growth of the ground support equipment market?
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
Subsegments:
1) By Powered Ground Support Equipment: Electric Tugs, Battery-Powered Equipment, Hydraulic Equipment, Towbarless Tractors, Baggage Tractors, Cargo Loaders, Aircraft Refueling Trucks
2) By Non-Powered Ground Support Equipment: Manual Tugs, Dollies, Chocks, Carts, Stairs And Ramps, Towbars, Hand Tools
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Which region dominates the ground support equipment market?
North America was the largest region in the ground support equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the ground support equipment market report during the forecast period. The regions covered in the ground support equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the ground support equipment industry growth?
Major companies operating in the ground support equipment market include 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, Cobus Industries GmbH, ALVEST Group, Flightline Support Ltd., Aeroservices Ltd, 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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What Is Covered In The Ground Support Equipment Global Market Report?
• Market Size Forecast: Examine the ground support equipment market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ground support equipment market for a structured understanding.
• Key Players Overview: Analyze major players in the ground support equipment market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ground support equipment market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ground support equipment market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ground support equipment market.
• Industry Challenges: Identify potential risks and obstacles affecting the ground support equipment market.
• Competitive Landscape: Review strategic developments in the ground support equipment market, including expansions, agreements, and new product launches.
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