Press release
Ground Support Equipment Market to Reach US$ 20.72 Bn by 2030, Growing at a CAGR of 18.5%
Ground Support Equipment Market
The global Ground Support Equipment (GSE) market is projected to grow from USD 6.31 billion in 2023 to USD 20.72 billion by 2030, registering a robust CAGR of 18.5% during the forecast period . This surge is fueled by the increasing demand for hybrid and electric GSE, technological advancements, and the expansion of airline fleets and airport infrastructures worldwide
Ask for Sample to know US Tarrif impacts on Ground Support Equipment Bearing market : https://www.maximizemarketresearch.com/request-sample/22794/
► Competitive Landscape:
The commercial segment is anticipated to witness the highest CAGR, propelled by the rise in air freight, aircraft, and passenger movements globally. Passenger service equipment is expected to dominate the market share in 2023, driven by substantial investments in airport infrastructure.
Key players shaping the GSE market include JBT Corporation, TLD, Textron GSE, Mallaghan, AERO SPECIALTIES, Cavotec SA, Flightline Support Ltd., GATE GSE, Imai Aero-Equipment Mfg. Co.Ltd., and Guangtai.
► Ground Support Equipment Bearing Market Regional Insights
Growth and Innovation in the United States:
North America is poised to hold the largest market share, attributed to the presence of major GSE companies and supportive government initiatives. The region is witnessing a shift towards electric equipment to replace diesel-powered GSE, aiming to reduce greenhouse gas emissions and noise pollution. In October 2023, Universal Hydrogen collaborated with JBT AeroTech to introduce the H2AmpCartTM, a hydrogen fuel cell-powered mobile battery charger for electrified airport GSE .
Opportunities and Expansion in Asia Pacific:
Asia Pacific is expected to record the fastest growth rate of nearly 9.0% from 2024 to 2030, driven by rapid economic development and aviation infrastructure expansion. The increasing air traffic, fueled by rising disposable incomes and tourism, necessitates efficient ground handling operations . In India, the GSE market reached USD 553.1 million in 2024 and is projected to grow at a CAGR of 4.51% to USD 822.7 million by 2033, propelled by automation and smart technologies .
Trends and Sustainability in Europe:
Europe accounted for a notable revenue share in 2023, with airports investing in infrastructure upgrades to accommodate growing air traffic. Stringent environmental regulations are pushing the adoption of eco-friendly GSE, such as electric and hybrid equipment, further driving market growth .
Consolidation and Development in the Middle East and Africa:
The Middle East and Africa are experiencing significant developments in the GSE sector. In May 2024, Dnata, a leading aviation and travel services provider, signed five-year, USD 210 million worldwide framework agreements for new GSE with leading manufacturers at the Dubai Airport Show
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► Key Recent Developments :
In May 2024, the International Air Transport Association (IATA) launched the Enhanced GSE Recognition Program to accelerate the integration of advanced GSE technologies into daily operations, acknowledging ground handlers leading in fleet modernization
► Ground Support Equipment Bearing Market Segmentation
by Type
Powered GSE
Non-powered GSE
by Application
Aircraft handling
Passenger handling
Cargo handling
by End-Use Commercial
Defense
Over the course of the forecast period, the commercial segment is anticipated to increase at the highest CAGR, followed by the defense segment. The primary driver driving up demand for the commercial divisions of the ground support equipment market is the increase of freight, aircraft, and passenger transportation worldwide. Due to rising airport infrastructure investments, which are expected to fuel demand for such equipment, the passenger service category is anticipated to hold the highest market share in 2023.
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/global-ground-support-equipment-market/22794/
► Ground Support Equipment Bearing Market Key Players
1. Tug Technologies Corporation
2. GATE GSE
3. Weihai Guangtai Airports Equipment Co., Ltd.
4. Imai Aero-Equipment Mfg. Co. Ltd.
5. Mallaghan Engineering, Ltd.
6. AMSS GSE
7. AERO Specialties, Inc.
8. Avia Equipment Pte Ltd
9. Cavotec SA
10. Flightline Support Ltd.
11. BGSE Group
12. JBT Corporation
13. Douglas Equipment Ltd
14. Clyde Machines Inc.
15. Hydro Systems KG
16. MULAG Fahrzeugwerk GmbH
17. Teleflex Lionel-Dupont
18. Tronair Inc.
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