The global ground support equipment market share is expected to experience significant growth by reaching USD 7,819.6 million by 2030. This growth is attributable to the increasing demand for refurbished ground support equipment and the presence of stringent emission control regulations that propels the demand for advanced GSE across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Ground Support Equipment Market Size, Share and COVID-19 Impact Analysis, By Type (Tugs & Tractors, Pushback Tractors, Passenger Boarding Lift & Steps, Belt Loader, Hi-Lift Loader, De/ Anti Icing Vehicle, Water Service Vehicle, Lavatory Service Vehicle, Others), By Power Source (Non-Electric GSE, Electric GSE, Hybrid GSE, Fuel Cell Vehicle, Advanced GSE), By Ownership (New Sales, Used Sales, Rental/ Lease), and Regional Forecast, 2020-2030.” The report further mentions that the market stood at USD 5,279.5 million in 2019 and is likely to exhibit a CAGR of 6.41% between 2020 and 2030.
Aviation Industry Facing Turbulent Time due to COVID-19
Air carriers across the globe are facing extreme financial implications and have cut capacity at unparalleled rates due to fewer passengers. Some airlines have shut down completely.
The aviation industry is going through a major downturn due to reduced flights and several restrictions amid COVID-19. This is expected to affect the market growth to some extent. However, the resumption of flights while adhering to social distancing norms is expected to bode well for the market growth.
List of Top Companies Profiled in the Global Ground Support Equipment Market:
- AERO SPECIALTIES INC. (The U.S.)
- Cavotec SA(Switzerland)
- Curtis Instruments Inc. (The U.S.)
- Guangtai (China)
- ITW GSE (The U.S.)
- Jalux Inc. (Japan)
- JBT (The U.S.)
- Kalmar Motor AB (Sweden)
- Mallaghan(Ireland)
- Rheinmetall AG (Germany)
- SINFONIA TECHNOLOGY CO. LTD. (Japan)
- Sojitz Aerospace Corporation (Japan)
- Textron Ground Support Equipment Inc. (The U.S.)
- TLD (France)
- Tronair (The U.S.)
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market. Moreover, the research analyst has adopted several research methodologies such as Porter’s Five Forces analysis to extract information about the current trends and industry developments that will drive the market growth between 2020 and 2030.
KEY DRIVING FACTORS
Increasing Demand for Refurbished GSE to Aid Growth
The growing modernization of airports is propelling the airlines to focus on utilizing refurbished ground support equipment. The increasing demand for refurbished materials is likely to reduce significant costs and improve the lifespan of the equipment. For instance, the London Luton airport adopts a revolutionary system of collective pooling of equipment such as aircraft stairs, belt loaders, and others. This aids in reducing congestion and saving costs, while preventing aircraft delays. Additionally, stringent emission norms imposed by government agencies is driving the demand for sustainable and eco-friendly equipment that will contribute to the global ground support equipment market growth in the forthcoming years.
SEGMENTATION:
Used Sales Segment Held 10.80% Market Share in 2019
The used sales segment, based on ownership, is expected to showcase considerable growth backed by the growing popularity amongst airlines for utilizing used GSE. The segment held a ground support equipment market share of about 10.80% in 2019.
INQUIRE BEFORE BUYING THIS RESEARCH REPORT
REGIONAL INSIGHTS
North America to Remain at Forefront; Established Aviation Sector to Accelerate Growth
Among all the regions, North America is expected to hold the highest position in the global ground support equipment during the forecast period. This is attributable to the presence of an established aviation industry that propels the demand for advanced ground support equipment in the region between 2020 and 2030. North America stood at USD 1732.9 million in 2019.
The market in Rest of the World is expected to experience significant growth backed by the growing aviation industry and the increasing air traffic in the Middle Eastern countries such as Turkey, Saudi Arabia, and Israel.
COMPETITIVE LANDSCAPE
Eminent Companies Focus on Product Innovations to Strengthen Their Market Positions
The global GSE market is fragmented by the presence of major companies that are striving to maintain their dominance by introducing innovative ground support equipment to cater to the growing aviation sector demand. Additionally, other key players are adopting organic and inorganic strategies that are likely to boost their positions in the global marketplace.
KEY INDUSTRY DEVELOPMENT
June 2020: JBT secured a seven-year contract with Continental Airlines to supply airport facility maintenance services for the 100-passenger boarding bridge and three baggage systems. The company, under the contract, will provide service to the George Bush International Airport (IAH).
View Related Reports:
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/ground-support-equipment-market-10014
Wow, great article. Really Cool.
Very good article.Really thank you! Awesome.
Thanks again for the article.Really thank you! Great.
I am so grateful for your article.Thanks Again. Will read on…
Thanks so much for the article post.Really looking forward to read more. Want more.
wow, awesome article post.Really thank you! Awesome.
Looking forward to reading more. Great blog.Really thank you! Really Great.
Looking forward to reading more. Great blog post.Thanks Again. Will read on…
I really enjoy this site. Thanks.
Im obliged for the blog.Thanks Again. Great.
Thanks for the blog post.Really looking forward to read more. Keep writing.
I really liked your blog article.Thanks Again. Will read on…
Looking forward to reading more. Great blog post.
Appreciate you sharing, great post.Thanks Again. Fantastic.
Very informative blog. Really Cool.
Looking forward to reading more. Great article.Really thank you! Will read on…
Really appreciate you sharing this blog article.Thanks Again. Will read on…
I am so grateful for your article.Really thank you! Keep writing.
I really liked your blog post.Really thank you! Will read on…
I cannot thank you enough for the blog post.Really thank you! Fantastic.
Thanks for the blog.Really looking forward to read more. Great.
I really enjoy the article.Much thanks again. Awesome.
Enjoyed every bit of your blog.Much thanks again. Fantastic.
Hey, thanks for the blog.Really thank you! Want more.
Thank you for your blog post. Really Great.
I cannot thank you enough for the blog.Thanks Again. Want more.
I cannot thank you enough for the blog. Will read on…
Appreciate you sharing, great blog article.Thanks Again. Awesome.
I truly appreciate this blog.Really looking forward to read more. Will read on…
Thanks for sharing, this is a fantastic blog article.Really looking forward to read more. Really Cool.
Hey, thanks for the blog.Really looking forward to read more. Much obliged.
I truly appreciate this blog.Thanks Again. Will read on…
Im grateful for the article post.Really looking forward to read more.
Thanks for the post.Really thank you! Much obliged.
Enjoyed every bit of your blog post.Really thank you! Cool.
Very neat blog article. Will read on…
I really like and appreciate your post.Really thank you! Awesome.
Enjoyed every bit of your blog.Really looking forward to read more.
Thanks a lot for the article.Much thanks again. Great.
Im grateful for the blog.Really looking forward to read more. Want more.
Thank you ever so for you blog post.Really looking forward to read more. Great.
Looking forward to reading more. Great article post.Really looking forward to read more. Cool.
Very neat post.Really looking forward to read more. Want more.
Im obliged for the article post.Really thank you! Keep writing.
Really informative post.Really looking forward to read more. Want more.
Thanks for the post.Thanks Again. Awesome.
I really enjoy the article.Much thanks again. Fantastic.
Thanks-a-mundo for the article.Really looking forward to read more. Cool.
Thank you ever so for you blog article.Much thanks again. Cool.
Say, you got a nice post.Thanks Again.
Very neat blog.Really thank you! Fantastic.
I really enjoy the article post.Much thanks again. Much obliged.
I appreciate you sharing this blog. Awesome.
Muchos Gracias for your blog.Really thank you! Awesome.
Great blog article.Thanks Again. Will read on…
Very good post.Thanks Again. Awesome.
I really like and appreciate your blog post.Much thanks again. Cool.
Thanks again for the article. Great.
I really enjoy the blog.Thanks Again. Much obliged.
Great blog post.Much thanks again. Really Great.
I value the post.Really looking forward to read more. Great.
I cannot thank you enough for the article.Thanks Again. Awesome.
A big thank you for your blog article.Really looking forward to read more. Will read on…
Wow, great blog post.Thanks Again.
Im grateful for the blog post.Really thank you! Really Cool.
Thank you ever so for you blog.Really looking forward to read more. Cool.
Major thankies for the post.Really thank you! Fantastic.
A big thank you for your post. Great.
Thanks for the blog post.Really looking forward to read more. Will read on…
I loved your article post.Really looking forward to read more. Awesome.
I really liked your blog. Great.
I think this is a real great article.Thanks Again. Great.
Major thankies for the blog post.Really looking forward to read more. Awesome.
Thanks so much for the article.Really thank you! Will read on…
I appreciate you sharing this blog post.Much thanks again. Will read on…
I appreciate you sharing this post.Really looking forward to read more. Fantastic.
Im thankful for the blog article.Really looking forward to read more.
Looking forward to reading more. Great blog.Really looking forward to read more. Much obliged.
Great, thanks for sharing this blog post. Fantastic.
wow, awesome post.Thanks Again. Really Cool.
Enjoyed every bit of your blog article. Thanks Again. Keep writing.
I really liked your article.Much thanks again. Will read on…
Really enjoyed this article post. Really thank you! Will read on…
I cannot thank you enough for the blog article.Really thank you! Fantastic.
Thanks for sharing, this is a fantastic blog article. Fantastic.
I really like and appreciate your article.Really thank you! Great.
Really enjoyed this blog article.Really thank you! Much obliged.
I think this is a real great article.Thanks Again. Really Cool.
Say, you got a nice article post.Much thanks again. Keep writing.
Very good article. Awesome.
Muchos Gracias for your article.Really looking forward to read more. Fantastic.
Enjoyed every bit of your article.Much thanks again.
I cannot thank you enough for the article post.Much thanks again.
I am so grateful for your article. Great.
Thanks for sharing, this is a fantastic post.Really looking forward to read more. Cool.
Hi, I do believe this is a great blog. I stumbledupon it 😉 I will return once again since i have saved as a favorite it. Money and freedom is the best way to change, may you be rich and continue to guide other people.
I’m amazed, I have to admit. Rarely do I come across a blog that’s both equally educative and entertaining, and without a doubt, you’ve hit the nail on the head. The problem is something too few folks are speaking intelligently about. I’m very happy I came across this in my search for something relating to this.
This is a great tip especially to those new to the blogosphere. Simple but very accurate info… Appreciate your sharing this one. A must read post.