The new report by Expert Market Research titled, 'Global Ground Support Equipment Market Report and Forecast 2022-2027', gives an in-depth analysis of the global ground support equipment market, assessing the market based on its segments like type, applications, power source, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): USD 13.9 Billion
- Forecast CAGR (2022-2027): 7%
The ground support equipment market is driven by the thriving aviation sector. The rising demand for ground support equipment can be attributed to the increasing focus on improving operational efficiency, providing high-quality service, and leasing ground support equipment in cargo handling applications. Furthermore, high initial investments, a shift in emphasis toward ecofriendly GSE procurement, and outsourcing maintenance and repair have augmented the increasing demandfor ground support equipment. The rise in airlines and air passengers can be contributed to the sudden surge in the ground support equipment industry.
Industry Definition and Segmentation
Ground support equipment is an industry term that refers to support equipment typically found at airports and used to service aircraft between flights. When not in use, ground support equipment is usually kept on a ramp near the terminal for easy access. The primary function of GSE is to support the safe operation of aircraft after landing and before taking off again. Ground support equipment is typically used for aircraft mobility, ground power operations, and cargo and passenger loading.
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The market, based on type, can be segmented into:
- Powered Ground Support Equipment
- Non-Powered Ground Support Equipment
On the basis of application, the market can be categorised into:
- Aircraft Handling
- Passenger Handling
- Cargo Handling
On the basis of power source, the market can be categorised into:
The regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The rising prevalence of air traffic across the continents is likely to aid the market as there is a rise in air travellers and an increase in import and export activity across the world. Greater adoption of hybrid and electric ground support equipment by airport authorities decreases the dependence on fuel and releases fewer emissions. The rapid technological advancements and the increasing investments by the key players to develop innovative and ecofriendly GSE are among the factors which are anticipated to significantly contribute to the robust growth in the forecast period.
Key Market Players
The major players in the market are Aero Specialties Inc., Cavotec SA, Flightline Support Ltd., Textron Ground Support Equipment Inc. , Gate GSE, and Mallaghan, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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