According to a new market research report published by Acute Market Reports“Ground Support Equipment Market (By Type - Non-electric and Electric; By Service - Passenger, Aircraft, and Cargo) - Growth, Future Prospects, and Competitive Landscape and Forecast 2021-2029”,the ground support equipment market is estimated to grow at a CAGR of 10.7 % from 2021 to 2029.
The complete report is available at https://www.acutemarketreports.com/report/ground-support-equipment-market
Market Insights
The aviation industry has demonstrated a consistent growth in past few years and is estimated to continue with a progressive rate in the following years. The persistent rise in theoverall aviation industry has resulted in the growth of adjacent industries such as spare parts for aircrafts, hydraulic and pneumatic systems,and aircraft management systems,among others. These parts and systems are essential for smooth and safe operation of aircrafts. Ground support equipment is one such promising market estimated to witness a flourishing growth during the forecast period from 2021 to 2029.
Ground support equipment systems have witnessed immense growth along with the aviation industries in the recent years. Airports are expanding and modernizing their existing infrastructures in order to handle more air traffic. Rising frequency of passenger and cargo flights requires precise time planning to avoid any kind of delay or congestion.Ground support equipment is used for quick and efficient aircraft maintenance and service. The equipment aids airport management authorities to achieve proper time management and to avoid delays in flight schedules. Airports across different countries are readily adopting ground support equipment for effective and safe airport management and maintenance. Consequently, this has uplifted the demand for more ground support equipment.
Rising trend of using clean, green and energy efficient equipment has forced GSE manufacturers to fulfill the demand of GSE in aneco-friendly way. The manufacturers are engaged in design and development of anadvanced version of theequipment.End-user inclination towards clean GSE has further boosted the demand for advance ground support equipment and is expected to grow even further in the following years. In addition, major airline companies are rapidly upgrading their GSE capabilities to cope with the growing aviation industries and improve their services. Therefore, the demand for ground support equipment is expected to grow significantly in the following years.
Competitive Insights:
Ground support equipment market is highly competitive characterized by a large number of multinational manufacturers. Manufacturers are engaged in design and development of new and improved equipment in order to make ground support for airlines effective, safe and fast. Some of the leading manufacturers of ground support equipment includeAERO Specialties, Inc., Aviapartner, TUG Technologies Corporation, Mallaghan Engineering, Ltd., DENGE Airport Equipment, Transtec Overseas Pvt. Ltd., John Bean Technologies Corporation, NEPEAN ENGINEERING & INNOVATION PTY LTD, GATE & GATE GSE, Teleflex Lionel-Dupont (TLD) SA, and Cavotec SA.
Key Trends:
