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Ground Support Equipment Market to Depict 7.97% CAGR from 2022 to 2030; Aviator Airport Alliance Collaborated with Norwegian to Undertake De-Icing Services

June 20, 2022 | Aerospace & Defense

The ground support equipment market size is projected to grow from USD 4.23 billion in 2022 to USD 7.82 billion by 2030. The equipment has gained traction to streamline aircraft operations across advanced and emerging economies. A notable uptick in cargo transportation and air traffic could foster equipment adoption. According to the latest research report by Fortune Business Insights™ 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, 2022-2030,” the market was valued at USD 4.07 billion in 2021. It is estimated to exhibit 7.97% CAGR during the forecast period.


Dip in Air Travel to Challenge Growth Prospect amidst the COVID-19 Pandemic


Industry players are likely to grapple with the COVID-19 pandemic, with the aviation sector witnessing a global plunge. According to the International Air Transport Association (IATA), around 1.8 billion passengers flew in 2020, observing a dip of 60.2% compared to the preceding year. Besides, air carriers faced financial difficulties, prompting them to rethink their strategic approaches.


Meggitt PLC Collaborates with Bell Textron Inc to Bolster Supply Chain


At a time when leading companies are striving to tap underpenetrated areas, leading companies, such as Meggitt, have bolstered their portfolios. In February 2020, Meggitt inked a contract of approximately USD 73 million with Bell Textron to provide heated spinner, composite de-icing propeller rotor blankets, pendulums, and fairings to Bell Boeing V-22 osprey helicopter. Meanwhile, in March 2020, Cavotec SA signed a two-ground-support-equipment contract with Chinese airports. The company could supply over 400Hz connectors, 100 coilers units, and service cables at Beijing Capital International Airport.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/ground-support-equipment-market-101823


Emphasis on Operational Efficiency & Cargo Transportation to Usher Growth


Stakeholders are poised to emphasize operational efficiency and reduce turnaround time. The ground support equipment market share will gain traction from the development of underground equipment. Moreover, a gradual uptick in cargo transportation and air traffic could provide an impetus for industry growth. IATA claims that the number of air travelers could double to 8.2 billion by the end of 2037. With a gradual surge in air traffic, industry players are likely to up their investments in ground support equipment solutions.


However, lack of infrastructure for charging electric equipment could challenge leading companies vying to expand their portfolios.


Stakeholders Invest in Collaboration to Expand Penetration


Leading players are likely to expand product portfolio with investments in technological advancements, product launches, geographical expansion, R&D activities, and mergers & acquisitions. Industry players could foster ground support equipment market growth by focusing on organic and inorganic strategies.


Notable Industry Development



  • September 2021: Aviator Airport Alliance inked a three-year contract with Norwegian, a Norway-based airline, to undertake de-icing services for Bodø (BOO), Bergen (BGO), Tromsø (TOS), Trondheim (TRD), and Bardufoss (BDU) airports in Norway.


List of Companies Profiled in the Report



  • AERO SPECIALTIES INC. (U.S.)

  • Cavotec SA (Switzerland)

  • Curtis Instruments Inc. (U.S.)

  • Guangtai (China)

  • ITW GSE (U.S.)

  • JBT (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. (U.S.)

  • TLD (France)

  • Tronair (U.S.)


Further Report Findings



  • In terms of type, the hi-lift loader segment could account for a notable share of the global market due to investments in cargo transportation.

  • North America market forecast will be strong on the back of the presence of leading companies in the U.S. and Canada.

  • Asia Pacific could emerge as a lucrative region, owing to burgeoning urbanization across China and India.


Table of Segmentation















































  ATTRIBUTE



  DETAILS



Study Period



2017-2030



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2030



Historical Period



2017-2020



Unit



Value (USD billion)



Segmentation



By Type



  • Tugs & Tractors (TT)

  • Pushback Tractors (WT)

  • Passenger Boarding Lift & Steps (PBS)

  • Belt Loader (BL)

  • Hi-Lift Loader (HL)

  • De/Anti Icing Vehicle (H)

  • Water Service Vehicle (PW)

  • Lavatory Service Vehicle (LS)

  • Others



By Power Source



  • Non-Electric GSE

  • Electric GSE

  • Hybrid GSE

  • Fuel Cell Vehicle (FCV)

  • Advanced GSE



By Ownership



  • New Sales

  • Used Sales

  • Rental/Lease



By Geography



  • North America (By Type, Power Source, Ownership, Country)

    • U.S. (By Type, Power Source, Ownership)

    • Canada (By Type, Power Source, Ownership)



  • Europe (By Type, Power Source, Ownership, Country)

    • U.K. (By Type, Power Source, Ownership)

    • Germany (By Type, Power Source, Ownership)

    • France (By Type, Power Source, Ownership)

    • Russia (By Type, Power Source, Ownership)

    • Rest of Europe (By Type, Power Source, Ownership)



  • Asia Pacific (By Type, Power Source, Ownership, Country)

    • Japan (By Type, Power Source, Ownership)

    • East Asia (By Type, Power Source, Ownership, Country)

      • East Asia (China, South Korea, and Taiwan)



    • Southeast Asia (By Type, Power Source, Ownership, Country)

      • Southeast Asia (Malaysia, Indonesia, Singapore, and Thailand)



    • Rest of Asia Pacific (By Type, Power Source, Ownership, Country)

      • Rest of Asia Pacific (India and Australia)





  • Rest of the World (By Type, Power Source, Ownership, Sub-Region)

    • Middle East & Africa (By Type, Power Source, Ownership)

    • Latin America (By Type, Power Source, Ownership)




Ground Support Equipment Market
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  • 2018-2020
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