Ground Support Equipment Market Size, Trends, Growth, Opportunity and Forecast 2024-2032

IMARC Group’s latest report, titled “Ground Support Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, the global ground support equipment market size reached US$ 15.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 31.1 Billion by 2032, exhibiting a growth rate (CAGR) of 7.8% during 2024-2032.

Factors Affecting the Growth of the Ground Support Equipment Industry:

• Expansion in Air Travel and Airport Infrastructure:

The expansion of air travel and the continuous development in airport infrastructure are critical drivers for the ground support equipment market. The increase in air passenger traffic demands more efficient and modernized ground handling services to maintain smooth airport operations. This scenario necessitates a broad range of ground support equipment, from aircraft towing vehicles to baggage handling systems. As airports expand and upgrade to accommodate growing passenger numbers, investments in ground support equipment surge, aiming to enhance operational efficiency and passenger experience. This growth is particularly pronounced in emerging economies, where the expansion of aviation infrastructure is a key focus area.

• Stringent Environmental Regulations:

Environmental regulations play a substantial role in shaping the ground support equipment market. With increasing emphasis on reducing carbon emissions and promoting sustainability, there is a growing demand for electric and hybrid ground support equipment. These regulations drive innovation and investment in eco-friendly technologies, leading to the replacement of conventional, fuel-powered equipment with greener alternatives. This shift not only helps in meeting environmental standards but also in reducing operational costs in the long term, as electric and hybrid vehicles typically have lower maintenance and fuel expenses.

• Technological Innovations and Automation:

Technological innovations and the push towards automation are significantly influencing the ground support equipment sector. The integration of advanced technologies such as GPS, IoT (Internet of Things), and automation in equipment operations has led to enhanced efficiency, safety, and reliability in ground handling services. Automated systems for tasks like baggage handling and aircraft towing reduce the scope for human error and increase operational speed. The adoption of smart, connected equipment allows for real-time monitoring and management, optimizing airport ground operations and paving the way for more autonomous airport environments.

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Leading key Players in the Ground Support Equipment Industry:

• Aero Specialties Inc

• Aeroservices Ltd

• Cavotec SA

• Curtis Instruments Inc

• ITW GSE

• Jalux Inc.,

• John Bean Technologies Corporation

• Mallaghan

• Rheinmetall Aktiengesellschaft

• Textron Ground Support Equipment Inc. (Textron Inc.)

• TLD Group (Alvest Group)

• Weihai Guangtai Airport Equipment Co. Ltd

Global Ground Support Equipment Market Trends:

The growth in global e-commerce has resulted in a rise in air cargo operations, necessitating more specialized ground support equipment. As airlines expand their fleets to meet growing travel demands, there is a corresponding need for more ground support equipment. The need for regular maintenance and upgrades of existing equipment drives the market, ensuring safety and operational efficiency. Airports and airlines are constantly seeking cost-effective solutions in ground handling, influencing the demand for efficient and durable equipment.

Moreover, heightened safety and security standards in aviation necessitate advanced equipment capable of meeting these requirements. Economic trends and geopolitical factors can impact airline operations and, consequently, the demand for ground support equipment. Furthermore, collaborations between equipment manufacturers and technology firms are essential in driving innovation in this sector.

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Key Market Segmentation:

Breakup by Type:

• Powered Ground Support Equipment

• Non-Powered Ground Support Equipment

Powered ground support equipment represents the largest market segment since it enhances operational efficiency and speed in aircraft handling.

Breakup by Power Source:

• Electric

• Non-Electric

• Hybrid

On the basis of power source, the market has been divided into electric, non-electric, and hybrid to cater to various operational needs and environmental concerns.

Breakup by Application:

• Aircraft Handling

• Passenger Handling

• Cargo Handling

Passenger handling accounts for the majority of the market share due to the growing number of air travelers globally.

Key Highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

North America's dominance in the ground support equipment market is attributed to its large number of airports and advanced aviation infrastructure.

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