Key Factors Shaping Aircraft Ground Support Equipment Market
Operational and Functional Advantages of Aircraft Ground Support Equipment
Customers look forward to operational efficiency, especially in passenger aircraft, with increase in ground handling services. Most of these ground services are directly not related to the actual aircraft journey. In order to minimize the turnaround time, speed, efficiency, and accuracy are important factors in ground handling services. Aircraft ground support equipment helps in achieving operational tasks with efficiency and accuracy. Due to this operational advantage, aircraft ground support equipment have become one of the most desired equipment at airports.
Various applications of aircraft ground support equipment, to help additional functions on the ground such as cargo loading and unloading, aircraft refueling, potable water storage, fuselage and engine examination, are bolstering demand in the market.
Convenience of Renting for Aircraft Ground Support Equipment
Renting the equipment allows one to acquire assets with minimal initial expenditure and makes it easy for the end user to stay within budgetary constraints. This also leads to negligible maintenance costs, zero risk of obsolescence, and budgeting with more flexible terms and significant advantages.
Increasing Passenger Travel Paving Way for Market Growth
The number of air travel passengers is growing day-by-day across the globe, with an establishment of more than 700 routes for superior connectivity. According to the International Air Transport Association, the Asia Pacific passenger traffic rose by 7.3% in 2018. Robust regional economic expansion with new route options for travelers have increase the demand for aircrafts in the region.
Such an increase creates new challenge for the government to provide appropriate infrastructure, technology, and equipment that can accommodate the growth and assure that regulations and taxes do not turn up into a restraining factor. This progression in passenger traffic will also drive growth of the market of aircraft ground support equipment.
Focus on Efficiency and Reduction of Operational Time Lag
The aircraft ground support equipment market has witnessed a significant contribution to its growth from the expansion of airport and airline industry. Requirement of high optimization and efficiency define high performance of the equipment. High rate of growth of air traffic with a relatively low rate of expansion of airports and the construction of new ones leads to decrease in the time of service per flight.
To do so, equipment which are previously used are being replaced by new and more efficient ones. Any bottleneck in the line of process will delay other flights in line and increase the operational cost as well. Going further, the inclination towards consumption of ground support equipment market will increase because of its effectiveness to reduce time lag.
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Aircraft Ground Support Equipment Market Structure Analysis
- The presence of less tier I players such as JBT Corporation, Air T, Inc., Textron, Inc., China International Marine Containers (Group) Co., Ltd., Weihai Guangtai Airport Equipment Co., Ltd., makes the aircraft ground support equipment market fragmented. Tier-2 players hold a major share, which involves large number of players including companies such as Cavotec SA, ALVEST Group, Mulag Fahrzeugwerk Heinz Wössner GmbH u. Co. KG, Tronair, Inc., and Lektro Inc., among others.
FREQUENTLY ASKED QUESTIONS ABOUT AIRCRAFT GROUND SUPPORT EQUIPMENT MARKET
How will the aircraft ground support equipment market be critical in the future?
The global aircraft ground support equipment is primarily driven by the growing passenger traffic, especially in emerging countries of Asia Pacific. Rise in electrification and technological advancements for high performance with minimum labor work are anticipated to propel the sales of aircraft ground support equipment. Increase in cargo shipments due to just-in-time strategy will lead to dominate the further propel aircraft ground support equipment market growth.
Will rental/lease services affect the future trajectory of the aircraft ground support equipment market?
Renting the equipment, has made it easy for end users to stay within budgetary constraints. Minimal initial expenditure is also one of the driving factors, which will lead market growth for rental/lease services. Furthermore, zero risk of obsolescence, negligible maintenance costs, and budgeting with more flexible terms will remain significant influencing factors of the rental/lease services of the market.
Which equipment area holds potential growth opportunities for aircraft ground support equipment market players?
While aviation sector continues to influence growth strategies, growing demand for ground support equipment in aircraft services and cargo loading will result in increased market share.
What is the degree of competition in the aircraft ground support equipment market?
Aircraft ground support equipment market shows a fragmented competition structure, along with large number of regional and local market players. In the current scenario, industry leaders such as JBT Corporation, Air T, Inc., Textron, Inc., China International Marine Containers (Group) Co., Ltd., Weihai Guangtai Airport Equipment Co., Ltd., collectively hold around one-fourth of the total revenue share.
Which region will lead the global sales of aircraft ground support equipment?
North America remains in the forefront of the aircraft ground support equipment market. Asia Pacific region, with strong emergence of aircraft ground support equipment in China and India is anticipated to witness growth in aircraft ground support equipment.
Aircraft Ground Support Equipment Market: Segmentation
The global aircraft ground support equipment market is segmented to cover every aspect of the market in detail and present complete market intelligence to readers.
- 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