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The ground support equipment market is projected to grow from USD 4.0 billion in 2020 to USD 10.2 billion by 2025, at a CAGR of 20.7% from 2020 to 2025

Some of the factors that are expected to fuel the growth of the ground support equipment market are 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.New York, Dec. 09, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Ground Support Equipment Market by Type, Power Source, Platform, Point of Sale, Mode of Operation, Region – Global Forecast to 2025” – https://www.reportlinker.com/p04998218/?utm_source=GNW The potential growth opportunities for the studied market include innovations in technologies used in ground support equipment, automation of services and modernization of GSE, investments in airport infrastructure to enhance operating efficiency, increasing adoption of greener variants of GSE, and development of quick charge and durable lithium-ion batteries for use in electric GSE.The COVID-19 has taken a colossal toll on the world’s economic activity with individuals, organizations, governments, and businesses having to adapt to the challenges of the crisis.Air travel restrictions across various regions for both domestic and international flights have led to inactive fleets across the globe.Like many other sectors, the ground support equipment market is also heavily impacted by the COVID-19 pandemic. According to the Airport International Council (ACI) analysis, the impact of COVID-19 on the airport business will result in a 58.4% reduction in passenger volumes in 2020 compared to 2019. The airport industry is anticipating a 60% reduction in revenue as compared to the pre- COVID-19 projected baseline. The substantial decline in passenger and air traffic is expected to impact the demand for legacy equipment in the short term.The mobile GSE segment is estimated to account for a larger share of the ground support equipment market in 2020 as compared to the fixed GSE segment.Based on type, the mobile GSE segment is estimated to account for the largest share of the ground support equipment market in 2020. The growth of this segment can be attributed to the increased adoption of electric ground support equipment such as cargo/container loaders, pushback tractors, forklifts, container pallet transporters, baggage tractors, bulk loaders/conveyors, cabin service vehicles, boarding stairs, lavatory vehicles, passenger buses, deicers, aircraft fueling trucks, mobile ground power units, and mobile pre-conditioned air units at airports.The non-electric segment is expected to lead the ground support equipment market in 2020.Based on power source, the non-electric segment is estimated to account for the largest share of the ground support equipment market in 2020.Non-electric ground support equipment are the most widely used equipment at airports of developed economies such as the US, Canada, Germany, the UK, and the Netherlands.These equipment use conventional energy sources such as diesel, Compressed Natural Gas (CNG), and gasoline for their operations.The commercial segment is expected to lead the ground support equipment market in 2020.Based on platform, the commercial segment is estimated to account for a larger share of the ground support equipment market as compared to the military segment in 2020.Increase in the number of air passengers, aircraft, and freight movements is expected to propel the growth of the commercial segment of the ground support equipment market.Moreover, the rising adoption of the green airport concept in commercial airports is fueling the demand for electric and hybrid ground support equipment across the globe.The conventional/manned GSE segment is expected to lead the ground support equipment market in 2020.Based on mode of operation, the conventional/manned GSE segment is estimated to lead the ground support equipment market in 2020. The rise in air traffic, freight transportation, and passenger movement will drive the demand for conventional/manned GSE.The equipment segment is estimated to account for a larger share of the ground support equipment market as compared to the maintenance services segment in 2020.Based on point of sale, the equipment segment is estimated to lead the ground support equipment market in 2020. Increased demand for new ground support equipment at brownfield airports such as the Tacoma Airport, the Helsinki Airport, and the Aberdeen International Airport among others is expected to fuel the growth of this segment of the market across the globe.The North American region is estimated to account for the largest share of the ground support equipment market in 2020.The North American region is expected to lead the ground support equipment market in 2019.The market in the region is highly competitive, owing to the presence of a large number of Original Component Manufacturers (OCMs) and Original Equipment Manufacturers (OEMs) such as TUG Technologies and Gate GSE.Ongoing modernization programs of existing airports in the US are also expected to drive the growth of the North America ground support equipment market during the forecast period.The break-up of the profiles of primary participants in the ground support equipment market is as follows:• By Company Type: Tier 1–35%; Tier 2–45%; and Tier 3–20%• By Designation: C Level Executives–35%; Directors–25%; and Others–40%• By Region: North America–45%; Europe–20%; Asia Pacific–30%; and Rest of the World¬–5%Major players operating 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), among others.Research CoverageThis research report categorizes the ground support equipment market on the basis of point of sale (equipment and maintenance services), platform (commercial and military), type (mobile and fixed), power source (non-electric, electric, and hybrid), and mode of operation (conventional/manned, remotely operated, and autonomous). These segments have been mapped across major regions, namely, North America, Europe, Asia Pacific, Middle East, Latin America, and Africa.The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the ground support equipment market.A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; contracts, joint ventures, partnerships & agreements, acquisitions, and new product launches associated with the ground support equipment market.Competitive analysis of upcoming startups in the ground support equipment market ecosystem is covered in this report.Reasons to Buy this ReportThis report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall ground support equipment market and its segments.This study is also expected to provide region wise information about the applications, wherein ground support equipment is used.This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.The report provides insights on the following pointers:• Market Penetration: Comprehensive information on ground support equipment offered by the top players in the market• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the ground support equipment market• Market Development: Comprehensive information about lucrative markets – the report analyzes the ground support equipment market across varied regions• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the ground support equipment market• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the ground support equipment marketRead the full report: https://www.reportlinker.com/p04998218/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.__________________________ CONTACT: Clare: clare@reportlinker.com
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