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Ground Support Equipment Market worth $9.7 billion by 2025 | CAGR of 4.45%

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Ground Support Equipment Market worth $9.7 billion by 2025 | CAGR of 4.45%

August 26
17:50 2020
Ground Support Equipment Market worth $9.7 billion by 2025 | CAGR of 4.45%

Ground Support Equipment Market
Ground Support Equipment Market Research Report, identifies new revenue opportunity in ground support equipment industry. The report aims at estimating the market size and future growth of the ground support equipment based on offering, process, application, vertical, and region.

According to the new market research report on the Ground Support Equipment Market by Type (Mobile GSE, Fixed GSE) , Power Source (Non-Electric, Electric, Hybrid), Application (Commercial, Military), Component (New, Replacement, Maintenance), Region – Global Forecast to 2025″, The ground support equipment market is projected to grow from USD 7.5 billion in 2019 to USD 9.7 billion by 2025, at a CAGR of 4.45% from 2019 to 2025. The growth of the market across the globe can be attributed to 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.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=264041553

Key players 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).

Browse 237 market data Tables and 44 Figures spread through 153 Pages and in-depth TOC on “Ground Support Equipment Market  – Global Forecast to 2025”

Mobile GSE segment is projected to lead the ground support equipment market during the forecast period.

Based on type, the ground support equipment market is projected to be led by the mobile segment from 2019 to 2025. Mobile GSE refer to equipment that can be moved around airports with no restriction to one installed location and can be used to service aircraft parked at gates that are not connected to airport terminals. The rise in capacity expansions of existing airports and adoption of automation technology has led to increased aircraft and cargo movements, which eventually have contributed to increased demand for mobile GSE. GSE operator tend to cost more than fuel and maintenance, which makes a strong case for autonomous equipment such as semi-autonomous pushbacks, autonomous Passenger boarding bridges, autonomous aircraft taxiing, driverless bus and baggage tractors, and automated snow removal in the aviation sector

Ground Support Equipment: Emerging Trends

  • Use of AI and Deep Learning to Set Automated PBBS In Airports
  • Dynamic Wireless Inductive Charging of Electric Vehicles
  • Alternative Fuels for The Green Airport with Zero Emission
  • Autonomous Operation of Vehicles

The commercial segment is projected to lead the ground support equipment market from 2019 to 2025.

Based on application, the commercial segment is projected to lead the ground support equipment market during the forecast period. The commercial segment has been classified into passenger services, cargo services, and aircraft services. These services form a bulk of ground support activities required by aircraft. These services are also called as ramp services. The growth of the commercial segment of the market can be attributed to the rise in demand for electric ground support equipment due to the increased adoption of environment-friendly equipment at airports to carry out different operations. Various big revenue pocket countries such as US, UK, Spain, UAE, and China are investing huge money towards green airport, by replacing diesel powered equipment with electric and hybrid GSE.

Increase in demand of passenger service equipment of GSE commercial application

Ground Support Equipment Market

The North American and Asia Pacific regions are projected to be high growth potential markets for the ground support equipment during the forecast period.

The ground support equipment market in the North American region is expected to witness substantial growth during the forecast period due to increased demand for ground support equipment to reduce the ramp complexity.

Several states in the US have passed regulations to reduce carbon footprints from airports completely, by either converting their diesel powered GSE to electric GSE or replacing it. States such as California and Seattle have already implemented these regulations and airports in these states have overcome the barriers associated with inadequate infrastructure and input power.

The rapid growth of the ground support equipment market in the Asia Pacific region can be attributed to rise in the number of air passenger and freight movements, which lead to the requirement for the development upgradation and expansion of airports. For instance, in December 2018, the Civil Aviation Administration of China (CAAC) announced the construction of 216 new airports by 2035 to accommodate the growing number of air passengers.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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