Aircraft Ground Support Equipment Market By Equipment (Passenger Services, Cargo Loading, Aircraft Service), Power (Electric, Non-electric, Hybrid), Ownership (New Sales, Rental/Lease), Application (Commercial, Defense) & Region – Forecast 2021 - 2031
Aircraft Ground Support Equipment (GSE) Market - Analysis, Outlook, Growth, Trends, Forecasts
- August 2021
- 239 pages
- Industrial Automation
Aircraft Ground Support Equipment Market Snapshot
Future Market Insights (FMI) in its latest analysis forecasts that the aircraft ground support equipment market will expand at a healthy CAGR of 6.5% between 2021 and 2031. The market valuation is set to reach US$ 9.7 Bn by 2021 end.
FMI also forecasts that the airport ground support equipment sales to top 27,000 units by 2031-end owing to the increasing passenger movement across the world. North America will continue leading the global aircraft ground support equipment market, exhibiting demand at a CAGR of 6%.
Key Points Covered in Aircraft Ground Support Equipment Market Study
- Market estimates and forecast 2021-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on aircraft ground support equipment Market and How to Navigate
- Recommendation on Key Winning Strategies
Aircraft Ground Support Equipment Market Historic Sales Compared to 2021-2031 Forecast Outlook
The aircraft ground support equipment market is set to register an impressive year-on-year growth of 6.6%in 2021, reaching a valuation of around US$ 9.7 Bn.
Expansion of aviation infrastructure across the globe, increasing air traffic and cargo transportation and technological innovations in ground support equipment are some of the factors driving aircraft ground support equipment market.
With the rise in passenger number, choosing flight to travel in place of other modes of transport, the demand for aircraft ground support equipment will increase. According to International Air Transport Association (IATA), overall passenger numbers are expected to reach 2.4 billion in 2021 as compared to 1.8 billion registered in 2020.
Airports are continuously making significant improvements to increase their operating efficiency and decrease turnaround time. As ground support equipment play a vital role in enhancing the speed of operations, they are being employed on large numbers across the airports.
Similarly, increasing spending on defense sector by governments is fueling the sales of ground support equipment.
Introduction of electric and hybrid ground support equipment is positively impacting the aircraft ground support equipment market. Aviation’s commitment to have a sustainable environment is improving the adoption of these equipment. Moreover, manufacturers are using innovation strategy to stay relevant in the market.
Growing tourism along with availability of rental service will further strengthen the ground support equipment demand during the forecast period.
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How is Demand for Eco-friendly Equipment Propelling Growth?
Growing pressure on airport authorities for utilizing ecofriendly equipment for airport operations is helping the market gain traction. Electric ground support equipment is preferred over their counterparts as because they are more environment friendly and offer low-cost maintenance features.
Increasing investments in airport infrastructure and the need for aircraft maintenance are expected to create lucrative growth opportunities for the electric and hybrid ground support equipment manufacturers.
COVID-19 Impact on Ground Support Equipment Industry
Aviation industry was severely hit by the COVID-19 pandemic. World Air Transport Statics (WATS) report (2020) by International Air Transport Association highlights the devastating effects of COVID-19 crisis on global air transport. According to the report, only 1.8 billion passengers flew in 2020, a decrease of around 60.2% compared to the 4.5 billion who flew in 2019.
The report further states that the total industry passenger revenues fell by 69% to US$189 billion in 2020 and net losses were US$126.4 billion in total. As a result, the ground support equipment market suffered badly.
Furthermore, the suspension of commercial travel across the world negatively affected the airport ground operations to a large extent. Even various airlines permanently suspended the ground staff services to counter the rising economic burden.
However, thanks to the commencement of vaccination worldwide and relaxations in aviation industry, with the resumption of flights, the ground support equipment market is expected to bode well in the future.
Why is Demand for Ground Support Equipment Rising in the U.S.?
The aviation industry in the U.S is highly established with government spending huge amount on the maintenance and expansion of airport infrastructure and the military air sector. There are more than 19000 airports in the U.S. Large number of ground support equipment are therefore being installed to modernize airport infrastructure.
Increase in the demand for electric and hybrid ground support equipment along with rising passenger traffic is driving the market for the ground support equipment in the U.S. According to Bureau of Transportation Statistics the U.S. airlines carried 607% more scheduled service passengers in May 2021 than in May 2020.
There is huge pressure on airport authorities and manufacturers of ground support equipment to reduce emission. As a result, sales of electric ground support equipment are gaining traction in the U.S.
How will China Emerge as the Leading Market for Ground Support Equipment?
Civil aviation is one of the most rapidly growing industries in China. Owing to increasing sales of aircrafts along with rising passenger numbers, the country is expected to be an opportunistic market for ground support equipment.
China dominates the ground support equipment market in Asia Pacific, opines Future Market Insights. This can be attributed to the increase in the warehouse operations at the airports along with the highly developed aviation industry.
According to Civil Aviation Administration of China, passenger volume showcased 74.9% year-on-year increase in 2021.
How Will the Market Expand Across India?
The ground support equipment market in India is will exhibit a steady growth rate during the forecast period. This can be attributed to increase in the number of airlines and airports across the country.
For instance, in January 19 2021, the Airport Authority of India (AAI) signed a concession agreement with Adani Group for three airports- Jaipur, Guwahati and Thiruvananthapuram.
International ground support equipment companies have shown a keen interest in the Indian aviation industry since this sector holds a great promise for potential investors.
Various initiatives taken by government are fueling the demand for advanced ground support equipment. For instance, in September 2020, the government of India sanctioned Rs.108 crores (US$ 14.73 million) for Jagdalpur, Ambikapur and Bilaspur airports in Chhattisgarh under the UDAN scheme for upgrade and development.
Similarly, in 2019, the Government of India sanctioned the development of a new greenfield airport in Hirasdar, Gujarat with an estimated investment of RS. 1405 crore (US$ 194.73 million).
Establishment of new airports, rise in tourism, and investment towards the expansion existing ones will create lucrative growth opportunities for ground support equipment manufacturers during the forecast period.
Which Equipment Segment leads the Aircraft Ground Support Equipment (GSE) Market?
With increasing passenger movement, the aircraft service segment will continue to dominate the aircraft ground support equipment market. The segment is forecast to register a healthy CAGR during the forecast period.
Why is Demand for Electric and Hybrid GSE High?
Electric and hybrid GSE sales are increasing as a result of growing demand for low maintenance and high-performance equipment. Airport authorities are continuously replacing conventional ground support equipment with electric and hybrid ones owing to the price volatility of petroleum and increasing emission from older equipment.
Adoption of hybrid support equipment, new batteries, fast charging ports and improved electric ground support equipment is underway across the globe.
Various government regulations along with higher demand for green equipment will continue to provide impetus to the electric and hybrid GSE demand.
How is Rental GSE affecting the Global Market?
Availability of option for renting ground support equipment allows the airline authorities to easily upgrade and expand their fleet.
Demand for short term ground support rental has increased as a highly suitable choice for ground handlers to fulfill contracts while maintaining high quality operations.
Which Application Dominates the Ground Support Equipment Market?
Owing to the increasing air traffic across the world, the commercial segment continues to maintain its hegemony in ground support equipment market. Rising tourism has fuelled the demand for more advanced aviation setups
.As a result, countries across the globe are investing heavily in airport infrastructure including ground support equipment to cope with the increasing passengers.
However, the military segment is forecast to exhibit a strong growth rate during the forecast period, owing to the increasing investments on military aviation secto
Key manufacturers operating in aircraft ground support equipment market are focusing on business expansion through contracts with airlines of different countries. They are introducing latest ground support equipment to cater to the growing demand. For instance
- In August 2020, Flux Power Holdings Inc. unveiled its range of lithium-ion batteries to power newer aircraft equipment such as tractors and electric forklifts.
- In October 2020, Textron GSE introduced the new TUG ALPHA 1 with three powertrain options, lithium, gas and diesel. TUG ALPHA 1 is the first-of-its kind, narrow body pushback, purpose built for unrivaled productivity, safety and operator experience.
Scope of the Report
Historical Data Available for
USD Million for Value and ‘000 Units for Volume
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa
Key Segments Covere
Equipment, Power, Ownership, Application and Region
Key Companies Profiled
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., and Lektro Inc. and others.
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Aircraft Ground Support Equipment Market by Category
- Passenger Services
- Boarding Steps & Stairs
- Airport Buses & Transport
- Beds/Chairs Lifts
- Cargo Loading
- Container Loaders
- Belt Loaders
- Cargo Transporters
- Cargo Dollies
- Aircraft Service
- Tugs & Tractors
- Ground Power Units (GPU)
- Air Start Units (ASU)
- Lavatory Service Vehicles
- De-icing Vehicles
- Rescue & Firefighting
- Air Conditioners
- New Sales
- North America
- Latin America
- Western Europe
- Eastern Europe
- APAC excluding Japan