Ground Support Equipment Market to Exhibit a CAGR of 6.03% over 2023-2031; Increasing Demand for Eco-Friendly Aircraft AGSE Elevate Market Growth

The global ground support equipment market size was valued at USD 7.14 billion in 2022. The market is predicted to accentuate from USD 8.34 billion in 2023 to USD 13.32 billion by 2031, exhibiting a CAGR of 6.03% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Ground Support Equipment Market Size, Share & COVID-19 Impact Analysis, Share and Global Trend 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, and Others) By Power Source (Non-Electric GSE, Electric GSE, Hybrid GSE, Fuel Cell Vehicle, and Advanced GSE), By Ownership (New Sales, Used Sales, and Rental/Lease), and Regional Forecast, 2023-2031”.

The aviation industry is placing significant emphasis on adopting environmentally friendly products, with global authorities actively implementing guidelines for sustainable processes and technologies. The growing environmental consciousness is expected to drive the demand for integrating eco-friendly processes and technologies into aircraft ground support equipment (AGSE) used in the aviation sector.

Unprecedented Financial Pressures and Capacity Reductions Stifled Market

Airline companies globally encountered severe financial challenges and implemented significant capacity reductions in response to a sharp decline in passenger numbers. The global COVID-19 pandemic had an unprecedented and staggering impact on this industry, resulting in reduced demand across all regions compared to pre-pandemic levels. Certain airlines ceased operations entirely, with the possibility of permanent closure for some.

Rheinmetall AG and Air Canada Collaborate on All-Electric Air Start Unit for Ground Operations

Rheinmetall AG and Air Canada collaborated in September 2022 to conduct a type trial of Rheinmetall's all-electric air start unit. After the successful introduction of the world's first all-electric and zero-emission air start unit, Air Canada has chosen Rheinmetall as its development partner. The collaboration aims to integrate Rheinmetall's eMSU (electric mobile start unit) into Air Canada's fleet of ground-based air start units.

Global Market Thrives as Air Travel and Cargo Transportation Soar

The ground support equipment market share is substantially growing due to the surge in air travel, air traffic, and cargo transportation. Moreover, airports globally are increasingly adopting advanced GSE, further fueling market expansion. According to data from the International Air Transport Association, the global demand for air cargo witnessed a significant increase of 18.7% in 2021 compared to the previous year.

However, the high cost of electrical equipment, limited lifespan, and constant replacement may stifle the ground support equipment market growth.

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

Key Players Driving Business Expansion and Market Growth through R&D Investments

OEMs prioritize expanding their business through partnerships with airlines from various countries. Textron Ground Support Equipment, in particular, is projected to experience substantial market share growth in the forecast period due to its new developments and significant investments in research and development (R&D).

Notable Industry Development: 

• July 2021 – BestTugs unveiled to the world its first commercial airplane tug with a weight of up to 100,000 pounds. For six years, the company designed and built aircraft tugs for planes with up to 24,000 pounds in the loader, pull style, and remote control.

List of Key Players Profiled in the Report:

• Aero Specialities Inc. (U.S.)


• Cavotec SA (Switzerland)


• Curtis Instruments Inc. (U.S.)


• Weihai Guangtai Airport Equipment (China)


• ITW GSE (U.S.)


• JBT Corporation (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:

• The market in 2022 witnessed North America as the leading region, commanding a market value of USD 2.30 billion. This strong position can be attributed to the robust growth of the aviation industry in the region.


• Asia Pacific is forecasted to exhibit the highest growth in the market. This growth can be attributed to the increasing investments from emerging economies, particularly in the aviation sector, with countries such as India and China leading the way.

Table of Segmentation