According to the latest report by IMARC Group, titled "Ground Support Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global ground support equipment market reached a value of US$ 13.11 Billion in 2021. Ground support equipment includes various types of auxiliary tools that are generally used in airports. The main purpose of these equipment is optimizing and supporting aircraft operations after landing and before taking off. It comprises forklifts and lifts, belt and container loaders, airplane push-back and hook-up, vehicles, carts, air-conditioning tugs, light-duty trucks, and belt and container loaders that are used for servicing, towing and powering purposes. Additionally, these machines are extensively utilized for several other services, including firefighting, portable water storage, cleaning and lavatory waste tank drainage. With considerable improvements in air connectivity worldwide, there has been an increase in the adoption of various types of ground support equipment across airports.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Ground Support Equipment Market Trends:
The global market is primarily driven by significant growth in the aviation industry. Coupled with the rising focus on improving operational efficiency, this is creating a positive market outlook. Furthermore, the increasing investments by private and public agencies to upgrade the airport infrastructure are providing a boost to the demand for ground support equipment across the globe. In line with this, the growing establishment of new terminals is also positively influencing the market. Moreover, an enhanced focus on sustainable development has encouraged leading players to develop green strategies and utilize technologies in order to minimize the pollution level. For instance, the widespread adoption of fleet management technology systems that aid in identifying detrimental operating behaviors and allows capturing of digital reports rather than paper reporting is acting as another major growth-inducing factor. Other factors, including rapid urbanization and extensive research and development (R&D) activities conducted by key players for introducing improved and efficient ground support equipment, are expected to drive the market growth further. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 22.0 Billion by 2027, exhibiting a CAGR of 8.80% during 2022-2027.
- On the basis of the type, the market has been bifurcated into powered and non-powered ground support equipment.
- Based on the power source, the market has been segmented into electric, non-electric and hybrid.
- On the basis of the application, the market has been categorized into aircraft, passenger and cargo handlings.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include 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) and Weihai Guangtai Airport Equipment Co. Ltd.
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