ASEAN Ground Support Equipment Market Size Rising to USD 1.19 Billion by 2027

The ASEAN ground support equipment market 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.

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.

Huge capital expenditure is required to deploy ground support equipment. For instance, in May 2017, Air India SATS Airport Services invested $0.77 million on India's first automated aircraft cleaning machine. This automated aircraft exterior cleaning system is installed at Indira Gandhi International Airport (IGI), New Delhi, and carried out by Nordic Dino II, an automated purpose-built system. In addition, it would be challenging for those players that have constrained working capital and tight margins. Moreover, it involves huge amount of maintenance cost, which is expected to hamper the growth of the ASEAN ground support equipment market.

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Further, the cost required to acquire, maintain, and operate a fleet of aircraft GSE is substantially very high. Therefore, GSE fleet owners and managers are continuously looking to monitor and control such costs. Furthermore, wireless is emerging as a growing tool to address these ongoing challenges. Use of wireless technology in GSE would not only help to optimize GSE maintenance management but also increase security, safety, productivity, and fleet allocation.

The wireless choices include "closed loop" long-range RFID-based systems and general packet radio service (GPRS) mobile data system or "Wi-Fi" system. It is necessary for GSE fleet managers and owners to decide the best technology based on their requirements. Therefore, emerging use of wireless technology is opportunistic for the market expansion.

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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.

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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