Airport Ground Support Equipment Market – Projections, SWOT Analysis, Trends, Size, Share, Segments and Forecast till 2023

Global Airport Ground Support Equipment Market by Type (Electric, Non-Electric, Hybrid), Equipment (Assembly Tool, Movement Equipment), Application (Aircraft, Cargo, Passenger), End-User (Military Airports, Commercial Airports), & Region – Global Forecast till 2023

Pune, India - July 22, 2019 /MarketersMedia/ —

Airport Ground Support Equipment (GSE) is found at the airport terminals for additional aircraft and passenger support, facilitating smooth transits with greater security, accuracy, and increased performance. GSEs are mainly used for operations at the robust airports for aircraft handling, passenger handling, and cargo handling. Simultaneously, these also benefit the aircraft maintenance and service between flight stoppages.

Increase in the air travels over the past decade has been prompting the increase in the crucial airport operations. Considering these factors the governments in the countries across the globe are increasingly investing in infrastructure development including the redevelopment of airports’ infrastructures. This, in turn, has led to an increase in the demand for airport GSE and substantial investments for the development of GSEs. As a result, the airport ground support equipment market is witnessing a rapid growth, worldwide, which is expected to increases further, during the forecast period.

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Acknowledging the kind of growth, this market is garnering currently, Market Research Future (MRFR) in its recently published study report asserts that the global airport ground support equipment market will reach exponential heights by 2023; registering a striking, double-digit CAGR of approximately 12 % during the review period (2018 to 2023).
In order to respond to the increased efficacy in airport operations and the skyrocketing prices of fuel such diesel and patrol, the emergence of electric ground support equipment (eGSE) was occurred nearly a decade ago, proving as the best option for airport operations. Since the initial move to electric equipment in 2010, airports and airlines continued to invest in eGSE resultantly, a huge number of GSEs and battery-powered equipments are deployed at various airports.

The rise in the demand for energy-efficient equipment at airports that can reduce CO2 and noise pollution while aiding in achieving higher economic efficiency is fostering the market growth of airport GSEs. Simultaneously, the benefit of enhancing operational efficiency that reduces maintenance costs and increases profits is encouraging the market growth of airport GSEs.

Additional factors substantiating the market growth include the increasing focus on airport efficiency through technical innovations and the increasing number of airports globally. Similarly, increasing development of smart airports and new terminals are some of the major factors that boost the market growth for GSE.

On the flip side, high costs associated with the maintenance and the replacements of older GSE are expected to obstruct the market growth during the forecast period. Nevertheless, increasing number of smart initiatives being introduced at the airports is expected to support the market growth during the assessment period.

Segments:

MRFR has segmented the analysis into five key dynamics; for better understanding:-

By Types: Electric, Non-Electric, and Hybrid.
By Equipment: Assembly Tool and Movement Equipment among others.
By Application: Aircraft, Cargo, and Passengers among others.
By End-Users: Military Airports and Commercial Airports
By Regions: North America, Europe, APAC and Rest-of-the-World.

Regional Analysis:

The North American region is expected to accounts for the leading market for the airport ground support equipment mainly due to the presence of major market players in the region. Besides the augmenting demand for electric and hybrid GSEs at airports drives the growth of the regional market.

Similarly, the Asia Pacific region is expected to be the second leading market for airport GSEs primarily due to the increasing expenses on the development and up-gradation of airport infrastructure in the region. Some of the APAC countries such as China, Malaysia, Indonesia, Thailand, Philippines, and India are witnessing a steady international air traffic growth in the recent years, which is resulting in higher investments on the airports by their governments.

The European region is rapidly emerging as a promising market for airport ground support equipment. The presence of many scenic destinations in the region such as Switzerland, Paris, Italy among others is attracting travel enthusiasts around the world. Simultaneously Countries such as the UK, Germany, and France with increasing industrialization and growing number of business are attracting business travellers, dictating the increase in air travels in the region. The growing demand for GSE to cater the increasing air passenger traffic defines the market landscape.

Competitive Analysis:

The market for airport ground support equipment appears to be highly competitive owing to the presence of numerous big and small players along with new market entrants forming a competitive edge. Mergers & acquisitions, Innovation, and brand reinforcement remain the key trends for the leading players.

Manufacturers strive to provide a wide range of GSE that can deliver a suite of application offerings to help address the needs of airports. Using time-tested methodologies and best practices, they try to bring together disparate point systems from multiple providers into an environment that addresses resource planning, passenger experience, and asset management.

Key Players:

Fervent players driving the market for the airport ground support equipment include JBT Corporation (U.S.), Teleflex Lionel-Dupont Group (France), Tug Technologies Corporation (U.S.), Mallaghan Engineering Ltd. (U.K), AMSS GSE (U.K), Tronair Inc. (U.S.), Mulag Fahrzeugwerk GmbH (Germany), Gate GSE (Belgium), Avia Equipment Pte Ltd (Singapore), and Shenzhen Cimc-Tianda Airport Support Co. Ltd. (China).

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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Source URL: https://marketersmedia.com/airport-ground-support-equipment-market-projections-swot-analysis-trends-size-share-segments-and-forecast-till-2023/88899759

Source: MarketersMedia

Release ID: 88899759

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