The Aircraft Ground Support Equipment Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Aircraft Ground Support Equipment market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Aircraft Ground Support Equipment. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The Aircraft Ground Support Equipment (GSE) Market is currently experiencing significant growth, primarily driven by the increasing demand for air travel and subsequent surge in air traffic. As passenger volumes and flight frequencies continue to rise, airports face a critical need for highly efficient and reliable ground support equipment to facilitate essential aircraft servicing, luggage handling, refueling, and other vital ground operations. Furthermore, this demand for advanced GSE is further amplified by the continuous expansion of airline fleets and the opening of new routes.
Projections suggest that the global aircraft ground support equipment market is set to achieve a substantial valuation of approximately USD 11.0 million by 2023. This remarkable growth is fueled by ongoing expansion and modernization initiatives at airports worldwide. Looking ahead to 2033, the market is expected to reach a significant milestone, with an estimated valuation of USD 21.2 billion. This trajectory reflects a commendable Compound Annual Growth Rate (CAGR) of 6.8% from 2023 to 2033.
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The increasing demand for air travel and subsequent rise in air traffic are significant drivers fueling the need for aircraft ground support equipment. With escalating passenger numbers and flight frequencies, airports are increasingly reliant on efficient and reliable ground support equipment to manage a range of operations including aircraft servicing, baggage handling, refueling, and other ground-based functions. Moreover, the expansion of airline fleets and route networks emphasizes the importance of advanced ground support equipment in the aviation industry.
The global expansion and modernization of airports require the deployment of cutting-edge ground support equipment. As airports undertake ambitious infrastructure development projects such as runway extensions, terminal expansions, and the construction of new facilities, there is a corresponding need for integrating state-of-the-art ground support equipment to meet evolving operational demands. This necessity highlights the adoption of automated systems, electric-powered machinery, and advanced technologies aimed at optimizing efficiency and enhancing the overall passenger experience.
The Asia-Pacific region is experiencing significant growth in the aviation sector, driven by increasing demand for air travel and concurrent expansion of airport infrastructure. Notably, countries like China, India, and various Southeast Asian nations have witnessed remarkable growth in air traffic. This rapid increase in demand underscores the urgent requirement for advanced ground support equipment, essential for maintaining efficient ground operations and ensuring seamless aircraft servicing.
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Key Takeaways from the Market Study
- From 2018 to 2022, the aircraft ground support equipment market demand expanded at a CAGR of 6.4%
- Based on equipment, the aircraft service segment accounts for a CAGR of 6.7%
- By ownership, the rental segment is expected to expand at a CAGR of 6.5% during the forecast period
- North America to emerge as a promising aircraft ground support equipment market, capturing a CAGR of 6.7%
- The aircraft ground support equipment market in the United Kingdom is predicted to capture a market share of 35.2%
- Asia Pacific to be an opportunistic aircraft ground support equipment market, expected to capture a CAGR of 6% during the forecast period.
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Competitive Landscape
The global aircraft ground-supporting equipment market exhibits a notable degree of fragmentation, characterized by the presence of numerous significant players ranging from large corporations to medium-sized enterprises. Within this competitive landscape, industry leaders are actively engaging in strategic partnerships and agreements as part of their concerted efforts to secure and expand their market share.
Prominently, key players in the aircraft ground-supporting equipment sector include:JBT Corporation
- Air T, Inc.
- Textron, Inc.
- China International Marine Containers (Group) Co., Ltd
- Weihai Guangtai Airport Equipment Co., Ltd.
- Cavotec SA,
- ALVEST Group
- MulagFahrzeugwerk Heinz Wössner GmbH u. Co. KG
- Tronair, Inc.
- Lektro Inc.
Textron ground support equipment has focused on developing electric ground support equipment to meet sustainability goals. They have introduced electric towbarless aircraft tractors, electric belt loaders, and electric ground power units (GPU) that provide cleaner and quieter operations.
JBT Corporation has been investing in advanced technologies for their ground support equipment products. They have developed automated guided vehicles (AGVs) for baggage handling, autonomous tow tractors, and intelligent ramp management systems that optimize aircraft parking and movement on the ground.
TLD Group has been actively involved in developing electric ground support equipment solutions. They have introduced electric aircraft pushback tractors, electric baggage tractors, and electric GPUs to reduce emissions and noise levels. They also offer advanced GSE management systems that enable real-time monitoring and optimization of ground operations.
Know More About What the Aircraft Ground-Supporting Equipment Market Report Covers
Future Market Insights offers an unbiased analysis of the global aircraft ground-supporting equipment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the aircraft ground-supporting equipment market, the market is segmented based on equipment, power, application, and application across five major regions.
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Aircraft Ground Support Equipment Market by Category
By Equipment:
- Passenger Service
- Boarding Steps & Stairs
- Airport Buses & Transport
- Beds/Chairs Lifts
- Aircraft Service
- Refuelers
- Tugs & Tractors
- Ground Power Unit (GPU)
- Air Start Units (ASU)
- Lavatory Service Vehicles
- De-icing Vehicles
- Rescue & Firefighting
- Air Conditioners
- Others
- Cargo Loading
- Container Loaders
- Belt Loaders
- Cargo Transporters
- Cargo Dollies
By Power:
- Electric
- Non-electric
- Hybrid
By Ownership:
- New Sales
- Rental/Lease
By Application:
- Commercial
- Defense
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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