CHICAGO, May 10, 2024 /PRNewswire/ -- The Ground
Support Equipment Market is estimated to be USD 6.1 billion in 2024 and is projected to reach
USD 7.4 billion by 2029, at a CAGR of
3.9% from 2024 to 2029 according to a new report by
MarketsandMarkets™. Environmental concerns and
sustainability initiatives are increasingly shaping decision-making
processes within the aviation industry, prompting airports to
invest in eco-friendly ground support equipment (GSE) as part of
their broader efforts to reduce carbon emissions and mitigate their
environmental impact.
Download PDF
Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=264041553
Browse in-depth TOC on "Ground Support Equipment
Market"
320 – Tables
80 – Figures
300 – Pages
Ground Support Equipment Market Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 6.1 billion
|
Estimated Value by
2029
|
$ 7.4 billion
|
Growth Rate
|
Poised to grow at a
CAGR of 3.9%
|
Market Size Available
for
|
2020–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Platform, Point of
Sale, Type, Autonomy, Power Source, Ownership and
Regions
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Challenges related to
GSE Fleet maintenance
|
Key Market
Opportunities
|
Increasing adoption of
greener variants in GSE
|
Key Market
Drivers
|
Growing air traffic and
airport expansion to fuel GSE demand
|
By platform, the military segment is projected to grow at the
highest CAGR during the forecast period.
Many military airports around the world are undergoing
modernization and expansion efforts to enhance their operational
capabilities and accommodate new aircraft platforms. These
initiatives often involve the procurement of advanced GSE to
support a wide range of military aircraft operations, including
fighter jets, transport aircraft, helicopters, and unmanned aerial
vehicles (UAVs). The need to upgrade existing GSE fleets and
acquire new equipment drives market growth in this segment.
By autonomy, the autonomous segment is projected to grow at
the highest CAGR during the forecast period.
The Urban Air Mobility (UAM) segment of the Ground Support
Equipment industry is experiencing dynamic growth through the
application of specialized technological innovations. Key
developments include the utilization of ultra-lightweight materials
engineered for vertical takeoff and landing (VTOL) aircraft
requirements. The focus on scalability in seat manufacturing aligns
with the diverse fleet sizes anticipated in UAM operations.
Technologically, seats incorporate advanced safety features
designed for higher maneuverability of VTOL applications. Modular
and transformable seating designs are being emphasized to maximize
space efficiency and adaptability in varied urban air travel
scenarios, facilitating quick adjustments to passenger loads and
mission types.
Autonomous GSE can operate without direct human intervention,
allowing for continuous and efficient operations. These vehicles
can autonomously navigate airport ramps, taxiways, and aprons,
reducing the need for manual supervision and increasing
productivity. With autonomous GSE, airports can optimize ground
handling processes, minimize delays, and improve overall
operational efficiency. Autonomous GSE eliminates the need for
human operators to physically drive or control the equipment,
leading to labor savings for airport operators. Instead of
allocating personnel to operate GSE manually, airports can deploy
autonomous vehicles to perform tasks such as baggage handling,
aircraft towing, and runway inspection autonomously. Reducing labor
requirements results in cost savings and enables airport staff to
focus on other critical tasks.
By power source, electric GSE is projected to grow at the
highest growth rate during the forecast period.
Diesel-powered GSE emit pollutants such as nitrogen oxides
(NOx), particulate matter (PM), and volatile organic compounds
(VOCs), which contribute to poor air quality and pose health risks
to airport workers and nearby communities. Electric GSE produce
zero tailpipe emissions, while hybrid vehicles combine electric
propulsion with cleaner-burning internal combustion engines,
resulting in lower emissions compared to conventional diesel
equipment. By transitioning to electric and hybrid GSE, airports
can improve local air quality and protect public health.
Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=264041553
Asia Pacific holds the
highest growth rate in the region for the Ground Support Equipment
market.
The Asia Pacific region is
witnessing a surge in air travel demand driven by factors such as
economic growth, rising disposable incomes, urbanization, and
increasing tourism. As a result, airports across the region are
expanding their infrastructure, adding new terminals, and enhancing
their operational capacities to accommodate growing passenger and
cargo volumes. This expansion necessitates investments in GSE to
support ground handling operations, driving market growth. Several
countries in the Asia Pacific
region, including China,
India, Indonesia, Vietnam, and Thailand, are experiencing rapid economic
development and urbanization. These emerging markets are witnessing
significant investments in aviation infrastructure, including
constructing new airports and modernizing existing facilities. The
burgeoning aviation sector in these countries creates substantial
demand for GSE, fueling market growth in the region.
Key Players
Major players in the Ground Support Equipment Companies are
Oshkosh Corporation (US), China International Marine Containers
(Group) Ltd. (China), TCR
Group (Belgium), Weihai Guangtai
Airport Equipment Co., Limited (China), Textron Ground Support Equipment Inc.
(US). These key players offer connectivity applicable to various
sectors and have well-equipped and strong distribution networks
across North America, Europe, Asia
Pacific, the Middle East,
Africa, and Latin America.
Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=264041553
Browse Adjacent Market: Aerospace and Defence
Market Research Reports & Consulting
Related Reports:
Airport Automation Market by Automation Level (Level 1.0,
Level 2.0, Level 3.0, Level 4.0), Application (BHS, Ground
Transportation and Parking, Facility Management, Air Traffic
Management, Others), System, Airport Side, Airport Size, End
Market, and Region - Global Forecast to 2028
Smart Airports Market by Airport Technology (Airport 2.0,
Airport 3.0 and Airport 4.0), Application (Landside, Terminal Side,
and Airside), Airport Size (Small, Medium, and Large), System, End
Market, Operation and Region - Global Forecast to 2027
Air Traffic Management Market by Airspace (ATS, ATFM, ASM,
AIM), Application (Communication, Navigation, Surveillance,
Automation), End Use (Commercial, Military), Investment Type,
Offering, Service, Airport Size and Region - Global Forecast to
2027
Passenger Boarding Bridges Market by Elevation System
(Hydraulic, Electro-Mechanical), Foundation (Fixed, Moveable),
Point of Sale (OEM, Aftermarket), Product Type, Structure, Tunnel
Type, Docking Type, Seaport-PBB and Region - Global Forecast to
2025
Unit Load Device Market by Product Type (Lower Deck 3,
Lower Deck 6, Lower Deck 11, M 1, Pallets), Application
(Commercial, Cargo), Material Type (Metal, Composite), Container
Type (Normal, Cold) and Region - Global Forecast to 2021
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's
best management consulting firms by Forbes, as per their recent
report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us
on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight:
https://www.marketsandmarkets.com/ResearchInsight/aircraft-ground-handling-system-market.asp
Content Source:
https://www.marketsandmarkets.com/PressReleases/aircraft-ground-handling-system.asp
Logo:
https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/ground-support-equipment-market-worth-7-4-billion-by-2029---exclusive-report-by-marketsandmarkets-302142158.html