The global ground support equipment market is projected to grow from $ 7.95 billion in 2022 to $ 9.7 billion by 2028, expanding at a compound annual growth rate of 4.45% from 2020 to 2025. The global market is dominated by the commercial cargo services segment and is expected to grow at the highest rate in the coming years, followed by military cargo service.
Over the years, the aviation industry has experienced continuous growth in the development of ground support equipment. The ground support equipment market is primarily stimulated by increased air traffic; increase in terminal extensions and modernization; increase in the number of passengers; and the increase in the number of aircraft deliveries worldwide. However, the need for significant initial investments is possible impediments to market growth.
Recent developments:
Market Drivers and Restraints:
Depending on the current and future impact of the various factors affecting the global ground support equipment market, airports' increased focus on improving operational efficiency, increasing air and cargo traffic, and increased emphasis on green supply GSE should have a positive influence on the market during the outlook period. Also, the emerging use of wireless technology and high service standards are supposed to drive market growth.
However, the impact of factors such as the high costs involved is anticipated to limit business expansion during the prediction period.
REPORT METRIC |
DETAILS |
Market Size Available |
2022 - 2028 |
Base Year |
2022 |
Forecast Period |
2023 - 2028 |
CAGR |
4.45% |
Segments Covered |
By Type, Component, End Use and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
JBT Corporation (USA), Teleflex Lionel-Dupont (TLD) (France), Mallaghan (UK), Tug Technologies Corporation (Textron GSE) (USA), Tronair (United States), MULAG Fahrzeugwerk (Germany), Guangtai (China), Rheinmetall AG (Germany), ITW GSE (Denmark) and Cavotec (Switzerland) and Others. |
Ground Support Equipment Market Segmentation:
the market is segmented into a hybrid, electric and non-electric. In 2018, the electricity segment dominated the market, followed by the hybrid, and it is expected that this segment will dominate in the coming years. The growing demand for clean, efficient and environmentally friendly ground handling equipment technologies is one of the main factors driving the electric segment demand in the ground handling equipment market for the 2020-2025 forecast period.
the market is segmented into brownfields, greenfield and MRO. In 2018, the greenfield segment dominated the market, followed by the brownfield, and it is expected that this segment will be dominant in the coming years. The increase in purchasing power in developing economies is one of the main drivers of the ground support equipment market for the projection period.
the global ground support equipment market is segmented into defense and commercial. In 2018, the commercial segment dominated this market, and it is expected that this segment will be dominant in the years to come. One of the main factors driving the demand for the commercial sector in the ground support equipment market is the increase in freight, aircraft and passenger movements around the world. With the rise in transportation and passenger traffic, the frequency of aircraft movements and flights is also increasing, which is anticipated to increase demand for commercial ground support equipment in future.
Regional Analysis:
The geographic division of the market includes North America, Asia-Pacific, Europe, Latin America, the Middle East and Africa. In 2018, North America was the key market, followed by Europe. In 2018, the USA was the leading market for North America and the world. The increased demand for hybrid and electric ground support equipment is an essential factor driving the market for ground support equipment market in the United States region of North America. The Asia-Pacific, Latin America and the Middle East and Africa regions are presumed to grow at a sustained pace due to increased investment by several developing countries such as India, Brazil and China, among others. Asia-Pacific is foreseen to grow at the highest CAGR for the forecast period.
The Middle East ground support equipment market is foreseen to reach the highest CAGR over the outlook period due to a continuing increase in the number of airport expansion projects to accommodate the growing number of air passengers and cargo movements.
Key market players:
The main players in the ground support equipment market are JBT Corporation (USA), Teleflex Lionel-Dupont (TLD) (France), Mallaghan (UK), Tug Technologies Corporation (Textron GSE) (USA), Tronair (United States), MULAG Fahrzeugwerk (Germany), Guangtai (China), Rheinmetall AG (Germany), ITW GSE (Denmark) and Cavotec (Switzerland). These players adopted various growth strategies, such as contracts, acquisitions, expansions, new product launches and partnerships to further expand their presence in the global ground support equipment market.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: sales@marketdataforecast.com
Reports By Region