Airport Ground Support Equipment Market to grow at a CAGR of 4.27% from 2022 to 2027; The rise in the construction and upgrades of airports to boost market growth

NEW YORK, Aug. 10, 2023 /PRNewswire/ -- The airport ground support equipment market size is forecast to increase by USD 1,630.63 million from 2022 to 2027, at a CAGR of 4.27%, according to the recent market study by Technavio. The growth of the market will be driven by the rise in construction and upgradation of airports, the growing construction of cargo terminals, and the modernization of airport GSE. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Airport Ground Support Equipment Market 2023-2027 – Company Scope

Technavio has extensively analyzed 15 major companies, including AERO Specialties Inc., Aeroservices Ltd., Alvest SAS, Avia Equipment Pte Ltd., Cavotec SA, China International Marine Containers Group Ltd., Curtis Instruments Inc., ITW GSE ApS, John Bean Technologies Corp., Kalmar Motor AB, Mallaghan GA Inc., MULAG Fahrzeugwerk GmBH u Co. KG, Rheinmetall AG, Sojitz Aerospace Corp., STANGCO Industrial Equipment Inc., Swati Airport Support Services Pvt. Ltd., TCR International N.V., Textron Inc., Tronair Inc., Vestergaard Co., and Weihai Guangtai Airport Equipment Co. Ltd.

Key Benefits for Industry Players & Stakeholders –

The report offers information on the criticality of company inputs, including R&D, CAPEX, and technology.

It also provides detailed analyses of the market's competitive landscape and the company's product offerings.

The report also provides a qualitative and quantitative analysis of companies to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

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Airport Ground Support Equipment Market - Segmentation Assessment

The market is segmented by type (powered airport GSE and non-powered GSE) and geography (APAC, North America, Europe, Middle East and Africa, and South America).

The aircraft GSE market share growth by the powered airport GSE segment will be significant during the forecast period. This segment includes tugboats, elevators, ground power equipment, refueling equipment, buses, air launchers, personal watercraft, toilet service vehicles, catering vehicles, and de-icing vehicles. Increased air travel and increased freight transport are driving this adoption. Additionally, airlines and airports are shifting from diesel-powered GSEs to electric-powered GSEs, citing the benefits of lower costs and greater flexibility. Due to the increased use of regional aircraft, the demand for motorized airport GSEs at regional airports is also increasing. Hence, these factors are expected to drive segment growth during the forecast period.

North America is projected to contribute 31% by 2027. In North America, the aircraft manufacturing supply chain includes several prominent companies, resulting in increased GSE manufacturing activity for aircraft and airports. The region's aviation market is mature and driven primarily by strong aviation industries in countries such as the US. Hence, these factors are expected to drive segment growth in the region during the forecast period.

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Airport Ground Support Equipment Market – Market Dynamics

Key Driver

The rise in the construction and upgrades of airports is a key factor driving market growth. The number of air passengers is increasing due to the economic development of emerging countries such as India, China, and Indonesia and the growth of the tourism industry. Furthermore, countries such as Spain, China, Italy, the UK, Germany, and Thailand have seen an increase in tourism, which has encouraged investment in new airport construction and improvements. As a result, the demand for airport ground support equipment (GSE) has increased, creating a growth opportunity for market companies. Thus, these factors are expected to drive market growth during the forecast period.

Major Trends

The growing adoption of GSE pooling is a major trend in the market. Rising passenger numbers and the desire for smooth and punctual operations are driving airports and airlines to seek effective and cost-effective solutions. GSE pooling is a ground-handling approach used by airport operators to improve efficiency and reduce costs. As peak demand varies by airline and handler, excess GSE is often stored at airports, taking up unnecessary space and disrupting operations. Therefore, major airports worldwide are embracing the GSE pooling concept. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

The cost pressure on airport GSE manufacturers is a significant challenge restricting the market growth. Airport component manufacturers face challenges in producing cost-effective, high-quality parts. To succeed in this competitive market, GSE manufacturers must adopt growth strategies. Intense competition and growing consumer demand require us to meet stringent cost targets while ensuring profitability. A small supplier base due to industry consolidation is forcing suppliers to diversify their offerings, which is capital intensive, creates new requirements such as new part design and development, and makes cost control difficult. Hence, these factors are expected to restrict market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Airport Ground Support Equipment Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the airport ground support equipment market between 2023 and 2027

Precise estimation of the size of the airport ground support equipment market and its contribution to the market in focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the airport ground support equipment market across North America, Europe, APAC, South America, and the Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about companies

Comprehensive analysis of factors that will challenge the growth of airport ground support equipment market companies.

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Airport Ground Support Equipment Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.27%

Market growth 2023-2027

USD 1,630.63 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.28

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 31%

Key countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

AERO Specialties Inc., Aeroservices Ltd., Alvest SAS, Avia Equipment Pte Ltd., Cavotec SA, China International Marine Containers Group Ltd., Curtis Instruments Inc., ITW GSE ApS, John Bean Technologies Corp., Kalmar Motor AB, Mallaghan GA Inc., MULAG Fahrzeugwerk GmBH u Co. KG, Rheinmetall AG, Sojitz Aerospace Corp., STANGCO Industrial Equipment Inc., Swati Airport Support Services Pvt. Ltd., TCR International N.V., Textron Inc., Tronair Inc., Vestergaard Co., and Weihai Guangtai Airport Equipment Co. Ltd

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market Overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global airport ground support equipment market 2017 - 2021

4.2 Type Segment Analysis 2017 - 2021

4.3 Power rating Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Type

6.1 Market segments

6.2 Comparison by Type

6.3 Powered airport GSE - Market size and forecast 2022-2027

6.4 Non-powered GSE - Market size and forecast 2022-2027

6.5 Market opportunity by Type

7 Market Segmentation by Power Rating

7.1 Market segments

7.2 Comparison by Power Rating

7.3 Electric - Market size and forecast 2022-2027

7.4 Non-electric - Market size and forecast 2022-2027

7.5 Hybrid - Market size and forecast 2022-2027

7.6 Market opportunity by Power Rating

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 North America - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 APAC - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 UK - Market size and forecast 2022-2027

9.12 Canada - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Company Landscape

11.1 Overview

11.2 Company landscape

11.3 Landscape disruption

11.4 Industry risks

12 Company Analysis

12.1 Companies covered

12.2 Market positioning of companies

12.3 AERO Specialties Inc.

12.4 Alvest SAS

12.5 Cavotec SA

12.6 Curtis Instruments Inc.

12.7 ITW GSE ApS

12.8 John Bean Technologies Corp.

12.9 Mallaghan GA Inc.

12.10 MULAG Fahrzeugwerk GmBH u Co. KG

12.11 Rheinmetall AG

12.12 Sojitz Aerospace Corp.

12.13 TCR International N.V.

12.14 Textron Inc.

12.15 Tronair Inc.

12.16 Vestergaard Co.

12.17 Weihai Guangtai Airport Equipment Co. Ltd

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

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