CHICAGO, March 28, 2019 /PRNewswire/ -- According to the new market research report "Ground Support Equipment Market by Type (Mobile Gse, Fixed Gse) , Power Source (Non-Electric, Electric, Hybrid), Application (Commercial, Military), Component (New, Replacement, Maintenance), Region-Global Forecast to 2025", published by MarketsandMarkets, the Ground Support Equipment Market is projected to grow from USD 7.5 billion in 2019 to USD 9.7 billion by 2025, at a CAGR of 4.45% from 2019 to 2025. The growth of the market across the globe can be attributed to rising demand for electric ground support equipment, increasing warehouse operations at airports, and ongoing expansions of airports to cater to the rising global air passenger traffic.
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Based on type, the mobile GSE segment is projected to lead the ground support equipment market during the forecast period.
Based on type, the ground support equipment market is projected to be led by the mobile segment from 2019 to 2025. Mobile GSE refer to equipment that can be moved around airports. They are not restricted to one installed location and can be used to service aircraft parked at gates that are not connected to airport terminals. Mobile GSE usually comprise cargo loading equipment and ramp service equipment. The rise in capacity expansions of existing airports has led to increased aircraft and cargo movements, which eventually have contributed to increased demand for mobile GSE.
The commercial segment is projected to lead the ground support equipment market from 2019 to 2025.
Based on application, the commercial segment is projected to lead the ground support equipment market during the forecast period. The commercial segment has been classified into passenger services, cargo services, and aircraft services. These services form a bulk of ground support activities required by aircraft. These services are also called as ramp services. The growth of the commercial segment of the market can be attributed to the rise in demand for electric ground support equipment due to the increased adoption of environment-friendly equipment at airports to carry out different operations.
Browse in-depth TOC on "Ground Support Equipment Market"
127 - Tables
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197 - Pages
The North American and Asia Pacific regions are projected to be high growth potential markets for the ground support equipment during the forecast period.
The ground support equipment market in the North American region is expected to witness substantial growth during the forecast period due to increased demand for ground support equipment from airports of these regions.
Several states in the US have passed regulations to reduce emissions from airports completely. As such, airports in these countries are converting their ground support equipment to electric ground support equipment. States such as California and Seattle have already implemented these regulations and airports in these states have overcome the barriers associated with inadequate infrastructure and input power.
The rapid growth of the ground support equipment market in the Asia Pacific region can be attributed to rise in the number of air passenger and freight movements, which lead to the requirement for the upgradation and expansion of airports. For instance, in December 2018, the Civil Aviation Administration of China (CAAC) announced the construction of 216 new airports by 2035 to accommodate the growing number of air passengers.
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Major players in the ground support equipment market are JBT Corporation (US), Teleflex Lionel-Dupont (TLD) (France), Mallaghan (UK), Tug Technologies Corporation (Textron GSE) (US), Tronair (US), MULAG Fahrzeugwerk (Germany), Guangtai (China), Rheinmetall AG (Germany), ITW GSE (Denmark), and Cavotec (Switzerland).
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