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Rising Air Traffic supplements Global Ground Support Equipment Market Growth

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Rising Air Traffic supplements Global Ground Support Equipment Market Growth

August 10
00:12 2022
Rising Air Traffic supplements Global Ground Support Equipment Market Growth
GROUND SUPPORT EQUIPMENT MARKET
According to the estimations put forth by Inkwood Research, the Global Ground Support Equipment Market is estimated to grow with a CAGR of 11.42% in terms of revenue during the forecasting years of 2022-2030.

“Browse 83 Market Data Tables and 64 Figures spread over 240 Pages, along with an in-depth TOC on the Global Ground Support Equipment Market Forecast 2022-2030.”

 

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Ground support equipment entails service as well as maintenance equipment utilized at an airport for supporting aeronautical operations, in addition to other related activities. Baggage tugs, cargo loaders, belt loaders, forklifts, lavatory trucks, fuel trucks, and pushback tractors are among the primary types of automobiles classified as ground support equipment.

 

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Increasing Air Traffic to facilitate Market Growth

The rise in passenger, as well as cargo air traffic, has resulted in an increased number of airline companies within the air space. Flight carriers globally are also investing in increasing the fleet size of passenger and commercial aircraft.

On the other hand, governments have gained from this development, primarily in the form of taxes, in addition to the employment it creates. Therefore, several governments are investing in expanding the capacity of the existing airports by employing new technologies and the construction of new airports, thereby streamlining operations and minimizing the expenses of accommodating air traffic. Hence, the growth in air traffic is set to raise the capacity of ground support equipment and staff, consequently bolstering ground support equipment vendors’ prospects.

 

Non-Powered Ground Support Equipment is the Leading Type

Non-powered ground support equipment includes chocks, sling cables, trestles, baggage carts, intake exhaust covers, ladders, air carts, oil carts, dollies, and aircraft jacks. The non-powered ground support equipment is either connected to a powered GSE or operated manually. Therefore, the ease of installation, as well as the requirement of relatively lesser maintenance, propels the market for non-powered ground support equipment.

 

Asia-Pacific to be the Fastest-Growing Region by 2030

Since airport infrastructure is essential for growth, countries in the Asia-Pacific are set to raise their investments in airports and terminal expansions. This factor will have a positive impact on the region’s ground support equipment market growth.

Furthermore, the surging population base, the affordable rates of air travel, and increasing disposable income are anticipated to fuel the number of passengers choosing air travel in the Asia-Pacific. Hence, these drivers are expected to propel the ground support equipment market growth in the region during the forecast period.

The global ground support equipment market is dominated by limited players, capturing the majority of the revenue share. Therefore, the intensity of competitive rivalry across the global market is estimated to be intense over the forecast years.

Some of the key companies operating in the market include Tronair, Aero Specialties Inc, Textron Ground Support Equipment Inc, etc.

 

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About Inkwood Research

Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.

 

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