Ground Support Equipment Market

2021-2030 Analysis and Review Ground Support Equipment Market

Ground Support Equipment Market

Global Ground Support Equipment Market By Type (Non-electric, Electric, Hybrid), By Application (Passenger Service, Commercial Cargo Service, Commercial Aircraft Service, Military Cargo Service, Military Aircraft Service), By Component (Equipment, MRO), By End user (Commercial, Defence) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030

13-01-2022 REP-HC-139296 99 pages Format

Global ground support equipment market is estimated grow at a CAGR of 11.8% during forecast period 2021-2030. Global ground support equipment market is primarily driven by rising air traffic & air cargos and import & export activities across the globe. Increasing number of air cargos and air passenger is expected to boost ground support equipment market globally. Growing international cross border business is expected to fuel up air cargos thus creating a demand to adopt ground support equipment handle cargos at airport. 

Ground Support Equipment Market

Increasing Number of Air Travelers

The number of air travelers across the globe is increasing significantly. IATA anticipates the number of air travelers worldwide to increase from 3.8 billion in 2016 to over 7.2 billion by 2035. Falling fare rates, rising disposable income population and new technologies imparting safety to air travel are the factors fueling growth of air travelers across the globe. Keeping aside profits, the increasing number of air travelers has put immense pressure on both airlines and airports to manage traffic. Airports especially are looking forward to adopt new innovative & cost effective ground support equipment to manage air travelling.

Requirement of Heavy Investment is The Biggest Restraint

Global ground support equipment market growth is restricted by the huge initial investments in equipment and airports development. As there is a transition towards the green ground support equipment is witnessed, this serves as hurdle for the developing countries. The cost of hybrid and electric GSE are high as compared to the conventional equipment. for instance, the cost of lavatory trucks varies between ranges of $35,000 to $47,000, while the aircraft stairs cost about $26,000-$70,000.

Largest Market Segment: Commercial Segment & Electric Segment

Global ground support equipment market has been segmented on the basis of type, application, component and End-user. Commercial segment in the global ground support equipment market is expected to account largest share in terms of revenue with around 68.56% market share in 2020. Commercial segment in ground support equipment market is be driven by increasing new airport addition in different countries and expansion plans of existing airports. Electric segment accounts the largest share in ground support equipment market and is projected to grow with a CAGR of 11.8% during the forecast period 2022-2030. Electric segment in the ground support equipment market is be driven by implementation and adoption of different programs for the adoption of electric vehicles and equipment on airports.

North America Takes the Lion Share

Geographically, the ground support equipment market has been segmented into North America, Europe, Asia Pacific and Rest of World (ROW). North America accounts for the largest share in ground support equipment market by capturing largest market share in terms of revenue of around 34.25% in 2020. Ground support equipment demand in North America is primarily driven by the establishment of new airports and increasing air traffic. U.S. accounts the largest share in ground support equipment market and is projected to grow with a CAGR of 11.6% during the forecasted period 2022-2030.China accounts the largest share in Asia in ground support equipment market and is projected to grow with CAGR of 12.4% during the forecasted period 2022-2030. Multiple factors are responsible for driving ground support equipment market in the country such as growing number of airports, increasing traffic of passengers and cargos.

Historical &Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from the top down, bottom strategies, and primary research. The scope of the market is limited to the following segments of product categories and region.

By Type(2020-2030; US$ Mn)

  • Non-electric
  • Electric
  • Hybrid

By Application (2020-2030; US$ Mn)

  • Passenger Service
  • Commercial Cargo Service
  • Commercial Aircraft Service
  • Military Cargo Service
  • Military Aircraft Service
    • Deicers     
    • Ground Power Units         
    • Fuel Trucks           
    • Pre-Conditioned Air Units
    • Hydrant Trucks

By Component(2020-2030; US$ Mn)

  • Equipment
  • MRO

By End user (2020-2030; US$ Mn)

  • Commercial
  • Defence

By Region (2020-2030; US$ Mn)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

  • Pre Covid-19 situation
  • Post Covid-19 situation

Key questions answered in this report

  • What are the key market segments in current scenario andin the future by product categories?
  • What are the key market segments in current scenario andin the future by regions?
  • What is the key impact of Covid-19 over market revenues and market determinants in the global ground support equipment market?
  • What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
  • What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
  • How to overcome the current market challenges and leverage the opportunities in each of the market segment?
  • Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
  • What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?

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