Increase in Air Traffic & Cargo Anticipated to Drive Global Ground Support Equipment Market: Ken Research

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Ground support equipment or GSE is defined as a support device used to service the aircraft between flights. It is found at the airside & airport terminals for aircraft support or additional passenger. It also helps the aircraft maintenance & service between flight stoppages. It enables the movement of airplane from landing until its take-off, and aid in handling tasks for instance aircraft maintenance, refueling, maneuvering, etc. at the airport. It is either operated or managed by specialized ground handling staff of airlines or service providers.

Global Ground Support Equipment MarketAccording to study, “Global Ground Support Equipment Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global ground support equipment market are TLD Group, Fast Global Solutions, JBT Corporation, Nepean, Tug Technologies Corporation, Global Ground Support, Mallaghan, Toyota Industries Corp, MULAG, Guangtai Airports Equipment, Tronair, Shenzhen TECHKING, Aero Specialties, Hangfu Airdrome Equipment, DOLL, Gate GSE. The key players are continuously investing in research & development (R&D) for incorporating advanced telematics & management solutions. Moreover, the addition of Radio-frequency identification (RFID) technologies along with connected services provide ground and airliners service handlers with real-time perceptions and updates on the status of the cargo handling and vehicle activities. Additionally, the advanced technologies and solutions enable players to dynamically engage their equipment to decrease turnaround time and improve efficiency significantly.

Based on power type, ground support equipment market is segmented into electric ground support equipment, non-electric ground support equipment and hybrid ground support equipment. The electric ground support equipment segment dominates the market owing to increase in demand for energy efficient, green & clean ground support equipment technologies. Based on component, market is segmented into green-field, brownfield, and maintenance, repair and overhaul (MRO). In addition, based on end-use, market is segmented into commercial and defense. The commercial segment is projected to witness higher growth due to rise in aircraft, freight, and passenger movement across the world during the forecast period.

The ground support equipment market is driven by increase in air traffic & cargo, followed by leasing of ground support equipment, rise in focus of airports on enhancing operational efficiency, increase in warehouse operations at airports and high service standards. However, high acquisition costs of electric ground support equipment and inadequate charging infrastructure may impact the market. Moreover, rise in focus towards procurement of greener GSE, emerge in use of wireless technology and outsourcing of MRO to the third party are key opportunities for market.

Based on geography, the North-American region dominates the ground support equipment market owing to growth in the demand for electric & hybrid ground support equipment in the region. Whereas, the European and Asian-Pacific regions are expected to witness higher CAGR due to increase in investment by several developing countries and rise in imports & exports activities over the forecast period. In near future, it is predicted that the market will be reached at rapid pace on account of rise in number of airlines & airports coupled with rise in warehouse operations at airports during the forecast period. The global market is probable to grow at a CAGR of approximately 5.7% over the next five years, will reach US $2790 million in 2024, from US $2010 million in 2019.

To know more, click on the link below:-

Global Ground Support Equipment Market Research Report

Related Reports:-

Ground Support Equipment Market Research: Global Status & Forecast by Geography, Type & Application (2015-2025)

Global Aircraft Ground Support Equipment Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use

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