Ground Support Equipment Market to Reach $14.2 billion, Globally, by 2032 at 6.2% CAGR: Allied Market Research

News provided by

May 09, 2024, 04:06 ET

PORTLAND, Ore. , May 9, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Ground Support Equipment Market by Type (Powered ground support equipment (GSE), Non-powered ground support equipment (GSE)), by Application (Aircraft Handling, Passenger Handling, Cargo Handling), by Power Source (Electric, Non-electric, Hybrid): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the ground support equipment market was valued at $8.0 billion in 2022, and is estimated to reach $14.2 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032.

Prime determinants of growth

Growth of the global ground support equipment market is driven by factors such as increase in air traffic and cargo, modernization and expansion of airports, rise in focus of airports on enhancing operational efficiency, and high service standards. However, high initial investment hamper the market growth. On the contrary, increase in focus towards procurement of greener GSE and surge in demand for customized and specialized ground support equipment are expected to offer remunerative opportunities for the expansion of the ground support equipment market during the forecast period.

Request Sample of the Report on Ground Support Equipment Market Forecast 2032

https://www.alliedmarketresearch.com/request-sample/2174

(We are providing connected ship Industry report as per your research requirement, including the Latest Industry Insight's Evolution, Potential and Russia-Ukraine War Impact Analysis)

136 - Tables
45 - Charts
210 – Pages

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$8.0 billion
Market Size in 2032	$14.2 billion
CAGR	6.2 %
No. of Pages in Report	210
Segments Covered	Type, Application, Power Source, and Region.
Drivers	Increase in air traffic and cargo
	Modernization and expansion of airports
	Rise in focus of airports on enhancing operational efficiency, and high service standards
Opportunities	Increase in focus towards procurement of greener GSE Surge in demand for customized and specialized ground support equipment
Restraints	High initial investment

Procure Complete Report (210 Pages PDF with Insights, Charts, Tables, and Figures)

https://www.alliedmarketresearch.com/checkout-final/ground-support-equipment-market

Impact of Russia-Ukraine War Scenario

The invasion of Ukraine by Russia on February 24, 2022, triggering the Russo-Ukrainian war that began in 2014, is expected to have potential negative implication for the ground support equipment market. The Russia-Ukraine war is expected to disrupt the global supply chain for components and equipment crucial in ground support equipment (GSE) manufacturing. Russia and Ukraine, pivotal manufacturing centers for various industries such as aerospace and automotive sectors, provide essential components for GSE production. Disruptions in manufacturing facilities, transportation networks, and logistics routes in these countries may result in delays in GSE equipment production and delivery.
In addition, instability in the region may cause fluctuations in raw material and commodity prices used in GSE manufacturing. Heightened geopolitical tensions can induce market uncertainties, leading to increased material costs and impacting the production expenses of GSE manufacturers. Thus, resulting in elevated prices for GSE equipment, affecting both profitability and affordability for buyers.

The powered ground support equipment segment to maintain its leadership status during the forecast period.

By type, the powered ground support equipment segment held the highest market share in 2022, accounting for more than three-fifth of the global ground support equipment market revenue, and is estimated to maintain its leadership status during the forecast period, as there is demand for powered GSE to handle the higher workload efficiently with the increase in volume of air traffic and cargo. Moreover, the powered ground support equipment segment is projected to attain the highest CAGR of 6.5% from 2023 to 2032, owing to development of more efficient and environmentally friendly powered GSE with the advancement in technology.

The aircraft handling segment to maintain its leadership status throughout the forecast period.

By application, the aircraft handling segment held the highest market share in 2022, accounting for more than two-fifth of the global ground support equipment market revenue and is estimated to maintain its leadership status during the forecast period as efficient aircraft handling services demand increases at airports to manage the higher volume of arrivals, departure due to rise in air travel. However, the cargo handling segment is projected to attain the highest CAGR of 7.4% from 2023 to 2032, owing to the exponential growth of e-commerce.

The non-electric segment to maintain its lead position during the forecast period

By power source, the non-electric segment accounted for the largest share in 2022, accounting for nearly three-fourth of the global ground support equipment market revenue and is estimated to maintain its lead status during the forecast period as the non electric ground support equipment provides benefits such as lower upfront costs, high longer operating ranges. However, the electric segment is projected to attain the highest CAGR of 8.9% from 2023 to 2032, owing to increase in focus to decrease carbon footprint and comply with environmental regulations.

North America to maintain its dominance by 2032

Region-wise, North America held the highest market share in terms of revenue in 2022, accounting more than two-fifth of the ground support equipment market revenue and is likely to dominate the market during the forecast period, owing to consistent demand for GSE in North America to support airport operations, including aircraft handling, cargo handling, and passenger services. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.9% from 2023 to 2032, owing to expansion of air travel, cargo transportation, and infrastructure development.

Talk To Our Industry Expert: https://www.alliedmarketresearch.com/connect-to-analyst/2174

Leading Market Players:

AERO SPECIALTIES, INC.
Cavotec SA
Textron GSE
Flightline Support Ltd.
GATE GSE
Imai Aero-Equipment Mfg. Co., Ltd.
JBT Corporation
Mallaghan
TLD
Guangtai

The report provides a detailed analysis of these key players of the global ground support equipment market. These players have adopted various strategies such as partnerships, acquisition, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

Browse More Trending Reports

Aviation Augmented & Virtual Reality Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology, by Type, by Component, by End Use, by Function : Global Opportunity Analysis and Industry Forecast, 2021-2031

Commercial Satellite Imaging Market Size, Share, Competitive Landscape and Trend Analysis Report by Application, By End User : Global Opportunity Analysis and Industry Forecast, 2021-2031

Hydrogen Aircraft Market Size, Share, Competitive Landscape and Trend Analysis Report by Passenger Capacity, Range, Application and Power Source : Global Opportunity Analysis and Industry Forecast, 2030-2040

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
[email protected]
Web: www.alliedmarketresearch.com
AMR Resource Center: https://www.alliedmarketresearch.com/resource-center