Sales of Aircraft Ground Support Equipment to Increase by 6.5% CAGR : FMI Study

ESOMAR-certified consulting firm Future Market Insights (FMI) in its latest report forecasts the global aircraft ground support equipment (GSE) market to register a CAGR of 6.5% between 2021 and 2031, reaching a market volume of around 27,000 units by 2031 end.

Establishment of new airports along with rising air traffic across the globe is creating huge demand for ground support equipment.

Airport authorities are increasing investment towards improving operational efficiency.  Implementation of sophisticated aircraft ground support equipment is intended to reduce the downtime across airports.

Introduction of electric and hybrid ground support equipment has completely changed the market scenario. These equipment not only minimize emission but also reduce costs and improve efficiency of aircrafts. The ground support equipment market registered a healthy year-on-year growth of 6.6% CAGR between 2020 and 2021.

Due to the outbreak of COVID-19, cargo operations increased considerably as demand for timely transportation of medicines and vaccines rose. The increasing demand for refurbished ground support equipment will further strengthen growth prospects for the global market.

With the expansion of the aviation and tourism industry across the world, the ground support equipment market is set to reach a valuation of US$ 9.7 Bn in 2021.

Request a Complete TOC of this Report with figures:

“Innovations in ground support equipment and availability of ground support equipment rentals will create lucrative growth opportunities for the aircraft GSE manufacturers in the future” says the FMI analyst.

Key Takeaways from FMI’s Aircraft Ground Support Equipment Market Study

  • North America dominates the ground support equipment market as a result of well-established aviation industry. The regional market is set to register steady growth at 6% CAGR between 2021 and 2031.
  • Increasing investments in aviation industry will help China to maintain its dominance over the ground support equipment market during the forecast period.
  • The market in India is expected to offer lucrative growth opportunities to aircraft GSE manufacturers.
  • In terms of power, electric segment is expected to remain dominant owing to the increasing demand for sustainability and green aircraft GSE.
  • By equipment type, the aircraft service segment is expected to remain dominant in the aircraft ground support equipment market, followed by cargo loading and passenger services.

Competitive Landscape

Key players operating in aircraft ground support equipment market are focusing on expanding their business through contracts with airlines across different regions. They are also adopting various organic and inorganic growth strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market.

In August 2021, Thales partnered with Dragonair Airport GSE service Ltd. to provide an advanced Instrument Landing system (ILS) solution in fully supporting the three-runway system (3RS) expansion project at the Hong Kong International Airport (HKIA). This will enable to further improve the capacity and efficiency of aircraft landing while maintaining the highest standard of flight safety.

Ask us your Any Queries About this Report:

Scope of the Report

Attribute Details
Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis USD Million for Value and ‘000 Units for Volume
Key Regions Covered North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa
Key Countries Covered US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa
Key Segments Coverege Equipment, Power, Ownership, Application and Region
Key Companies Profiled JBT Corporation, Air T, Inc., Textron, Inc., China International Marine Containers (Group) Co., Ltd., Weihai Guangtai Airport Equipment Co., Ltd., Cavotec SA, ALVEST Group, Mulag Fahrzeugwerk Heinz Wössner GmbH u. Co. KG, Tronair, Inc., and Lektro Inc. and others.
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing Available upon Request

In 2019, JBT Corporation announced that it has signed an agreement to acquire Lektro, Inc., a privately held manufacturer of electric aviation ground support equipment based in Warrenton, Oregon.

Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape

Aircraft Ground Support Equipment Market-2021 Analysis and Review: Aircraft Ground Support Equipment (GSE) Market by Application- Commercial and Defense for 2021-2031

Condition Monitoring System Market-2021 Analysis and Review: Condition Monitoring System Market by Technique – Corrosion Monitoring, Infrared Thermography, Motor Condition Monitoring, Oil Analysis, Ultrasound Testing, and Vibration Analysis for 2021 – 2031

Global Glass Reactors Market -2021 Analysis and Review: Global Glass Reactors Market by Application – Pilot Plants, Mid-Large Scale Production Plants, and Portable Multipurpose Units for 2021 – 2031

About Industrial Automation Division at Future Market Insights

The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry

Posted on

Leave a Reply

Your email address will not be published. Required fields are marked *