According to Future Market Insights (FMI), the global aircraft ground support equipment (GSE) market is set for significant growth, projected to reach USD 9,351.7 million by 2024. Anticipating a compound annual growth rate (CAGR) of 7% from 2024 to 2034, the market is expected to achieve approximately USD 18,316.2 million by 2034, reflecting a 1.9x increase in sales. This growth highlights the sector’s substantial potential and its increasing relevance in the evolving aviation industry.
Aircraft ground support equipment encompasses essential tools and vehicles that facilitate aircraft operations on the ground, including tugs for towing, power units, and de-icing machines. These tools are crucial for efficient aircraft servicing, maintenance, and turnaround, contributing to safe and seamless airport operations.
GSE plays a vital role in various critical tasks, such as aircraft mobility, cargo loading, fueling, and providing ground power, while also supporting aircraft maintenance to ensure operational efficiency and safety.
The demand for GSE is driven by the rapid expansion of global air travel, increased airport infrastructure, and the growing need for efficient turnaround times. Trends within the sector indicate a shift toward electrification and sustainability, with airports and airlines aiming to reduce carbon emissions through the adoption of electric and hybrid GSE. Furthermore, there is a rising emphasis on automation and smart technologies like telematics and IoT to improve operational efficiency and safety. The growth of low-cost carriers and regional airports also contributes to a steady demand for versatile and cost-effective GSE solutions.
Key factors fueling the growth of GSE include the rising global air traffic, particularly in emerging markets, which necessitates more advanced and efficient equipment to handle a higher volume of flights. Airport expansion and the modernization of existing facilities call for updated equipment, including advanced aircraft sequencing systems, to streamline operations and ensure orderly movement on the ground. Additionally, technological innovations, such as electric and autonomous GSE, are advancing the market as airports and airlines prioritize carbon emission reductions and efficiency improvements. The focus on safety and regulatory compliance further drives the adoption of sophisticated GSE solutions, while the need for quick aircraft turnaround times continues to boost demand.
Key Takeaways from Report:
- The market witnessed a CAGR of 4.4% over the historical period of 2019 to 2023.
- The United States is anticipated to remain at the forefront in North America, with a value share of 62.9% in 2034.
- In South Asia, India is projected to witness a CAGR of 8.5% through 2034.
- In terms of equipment type, the airport service segment will likely dominate and exhibit a CAGR of around 7.3% in 2024.
- Based on power, the electric segment is projected to account for a share of 37.9% in 2024.
- Based on equipment type, the aircraft service segment is projected to dominate, showcasing around 7.3% CAGR through 2034.
Competition Outlook:
The global market is currently dominated by a few large players, but there’s a growing opportunity for smaller entrants to make an impact. A notable trend in emerging markets is the strategy of renting out equipment to airports, offering greater operational adaptability. The sector also includes numerous producers who are increasingly forming partnerships with major airlines, aiming to enhance service quality and streamline their operations.
Key Players Operating in the Industry:
- JBT AeroTech
- Textron GSE
- Charlatte Manutention
- Tronair (Eagle Brand Only)
- Kalmar Motor AB
- Mulag
- Weihai Guangtai Airport Equipment Co. Ltd
- Mallaghan
- China International Marine Containers (Group) Co., Ltd.
- Cavotec SA
- TLD
- Goldhofer
- Tiger
- Trepel Airport Equipment
- Vestergaard Company
- Global Ground Support
- Wollard International
- Bliss-Fox
- Quinault (Air Starts Only)
- Toyota
Aircraft Ground Support Equipment Market Segmentation Analysis:
By Equipment Type:
- Passenger Services
- Boarding steps and stairs
- Airport buses and transport
- Bed/chair lifts
- Cargo Loading
- Container loaders
- Belt loaders
- Cargo transporters
- Cargo dollies
- Airport Service
- Refuelers
- Tractors
- Towbarless pushback
- Ground power units
- Air start units
- Lavatory service vehicles
- De/anti-icing vehicles
- Rescue and firefighting
By Power:
- Non-electric
- Electric
- Hybrid
By Application:
- Owned GSE
- Leased GSE
- Rental GSE
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia
- The Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/aircraft-ground-support-equipment-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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