ASEAN Ground Support Equipment Market Registering at a CAGR of 9.8%, and is Projected to Reach $1.19 billion by 2027

The ASEAN ground support equipment industry generated $674.17 million in 2018, and is expected to generate $1.19 billion by 2027, witnessing a CAGR of 9.8% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, key investment pockets, top segments, value chain, and competitive landscape.

Increase in air traffic and cargo, focus of airports on improving operational efficiency, high service standards, and leasing of ground support equipment drive the growth of the ASEAN ground support equipment market. However, high initial investment hinders the market growth. On the other hand, focus toward procurement of greener GSE and emerging usage of wireless technology present new opportunities in the coming years.

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Presently, Indonesia dominates the ASEAN ground support equipment market, followed by the Philippines and Malaysia. However, Vietnam is expected to grow at a higher CAGR during the forecast period. Factors, such as increase in air traffic & cargo, rise in focus of airports on enhancing operational efficiency, high service standards, and leasing of ground support equipment, supplement the growth of the ASEAN ground support equipment market. However, high initial investments required for purchasing the ground support equipment are expected to impede the market growth. Further, rise in focus on procurement of greener GSE, outsourcing of maintenance, repair, & overhaul (MRO) to third party, and increase in use of wireless technology are expected to create numerous opportunities for the key players operating in the ASEAN ground support equipment market.

By equipment type, the others segment dominated the ASEAN ground support equipment market in 2019 in terms of revenue. Similarly, the motorized segment holds a major market share in the ASEAN ground support equipment market. Based on power source, the electric segment leads the market in terms of revenue. Based on the countries studied, Indonesia holds a major market share.

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The report provides detailed segmentation of the ASEAN ground support equipment market based on equipment type, type, power source and country.

Based on country, Indonesia accounted for the largest share in 2018, contributing to nearly one-third of the total share, and will maintain its dominant share in terms of revenue by 2027. However, Vietnam is expected to manifest the largest CAGR of 13.2% during the forecast period.

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Leading players of the ASEAN ground support equipment market analyzed in the report include Adelte Group S.L, Cavotec SA, Avia Equipment Pte Ltd, IMAI Aero-Equipment MFG. CO. LTD., Guangta, JBT Corporation, ITW GSE, TLD, Textron Ground Support Equipment Inc., and Tronair.

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