The Global Ground Support Equipment Market to Develop at 6.68% CAGR by 2028

 

 

Triton Market Research presents the Global Ground Support Equipment Market report segmented by Type (Powered Ground Support Equipment, Non-powered Ground Support Equipment), by Power Source (Electric, Non-electric, Hybrid), by Application (Commercial Cargo Service [Cargo/Container Loaders, Pushback Tractors, Forklifts], Commercial Aircraft Service [Deicers, Ground Power Units, Fuel Trucks, Pre-conditioned Air Units, Hydrant Trucks], Passenger Service [Bulk Loaders/Conveyors, Cabin Service Vehicles, Boarding Stairs, Lavatory Service Vehicles, Passenger Boarding Bridges, Passenger Buses], Military Aircraft Service, Military Cargo Service), by End-user (Commercial, Defense), by Geographical Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), discussing Market Summary, Industry Outlook, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, and Global Market Size, Forecasts, & Analysis (2022-2028).

Triton Market Research has put forth that the Global Ground Support Equipment Market would evolve at a CAGR of 11.43% over the estimated period 2022 to 2028.


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The expected increase in the number of air passengers, especially in the recovery phase from COVID-19, is a key driver of the studied market. There has been a surge in air travel from the second half of 2021, with the gradual ease in restrictions imposed on international travel and the growing number of vaccinated passengers. This has significantly raised the need for ground support equipment at airports, thereby driving the market growth. On the other hand, difficulties encountered in maintaining and replacing GSE are hindering their adoption, in turn, hampering the growth of the market.

North America is presently the dominant market for GSE globally, and is anticipated to continue its reign until the end of the projected period. The United States, which is the fastest-growing market in the region, is one of the world’s most advanced countries, with a highly developed infrastructure. Currently, there are numerous airport construction projects underway in the nation.

For instance, there are at least 16 major construction projects at metropolitan airports in the US, and all these are scheduled to be completed over the next five years. From a $2 billion project in Columbus to a $14 billion modernization at Los Angeles’ airport, authorities are investing in infrastructure development. These factors are driving the growth of the North American ground support equipment market.

Aero Specialties Inc, TLD Group, Charlatte America, Cavotec SA, Hydro Systems KG, Champion GSE, Kalmar Motor AB, Weihai Guangtai Airport Equipment Co Ltd, Textron Ground Support Equipment Inc, Tronair, Merlinhawk Aerospace, Cobus Industries GmbH, JBT Aerotech, ITW GSE APS, Mallaghan, CIMC Tianda Holdings Co Ltd, Mulag Fahrzeugwerk, Air Mak Industries Inc, and Rheinmetall AG are some of the dominant players in this market.

Presently, this market is dominated by a few names who account for the majority of the total share. They compete with each other by trying to grab more contracts, offering better quality products, and focusing on technological innovation. Though there are relatively new companies in the GSE market, the established players are likely to get more preference. Also, entry barriers, such as high initial capital costs and stringent safety regulations, pose a threat to the new players. However, the market still holds huge potential for companies entering the market with innovative products that can improve airport operations.


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