(USGovernment-News.Com, November 11, 2022 ) According to the new market research report the Ground Support Equipment Market is projected to grow from USD 5.6Billion in 2022 to USD 7.0Billion by 2027, at a CAGR of 4.5% from 2022 to 2027.The North American region is projected to lead the market during the forecast period. The growth of the US market in North America can be attributed to increasing air passenger traffic and ongoing airport modernization and construction projects.
The report on the ground support equipment market provides an analysis of the market from 2022 to 2027. The potential growth opportunities for the studied market include innovations in technologies used in ground support equipment, automation of services and modernization of GSE, investments in airport infrastructure to enhance operating efficiency, increasing adoption of greener variants of GSE, and development of quick charge and durable lithium-ion batteries for use in electric GSE. Overloading of electric grids, battery charging issues in cold weather, the high cost of training, and lack of skilled personnel are some of the restraints of the GSE market.
Based on point of sale, the GSE market has been segmented into equipment and maintenance. The equipment segment is projected to account for a larger share of the market than the maintenance segment in 2022.The increased demand for new GSE from greenfield airports, such as the Suvarnabhumi Airport, Venezuela Airport, Shenzhen Airport, Chicago South Suburban Airport, the Mopa Airport, the Incheon Airport, and the Abu Dhabi International Airport is fueling the growth of the segment across the globe.
Based on platform, the GSE market has been segmented into commercial and military. The commercial segment is estimated to account for a larger share of the GSE market than the military segment in 2022. The commercial segment dominated the market and is projected to continue dominating the market during the forecast period due to the increase in freight, aircraft, and passenger movement, globally. The commercial segment caters to passenger, aircraft, and cargo requirements, while the military segment includes cargo and aircraft services for defense applications. The adoption of electric ground support equipment has increased in commercial applications across the North American region and in some parts of the European region. Diesel ground support equipment is mostly used in commercial applications in the Asia Pacific region.
Based on type, the GSE market has been segmented into mobile GSE and fixed GSE. The mobile GSE segment is estimated to account for the larger share of the GSE market in 2022.The rise in aircraft movement and increasing demand for quick turnaround time are contributing to the growth of the mobile GSE segment.
Based on power source, the ground support equipment market has been segmented into non-electric, electric, and hybrid. The electric GSE segment of the ground support equipment market is projected to grow at the highest CAGR of 6.0% during the forecast period. Advancements in battery technologies and their charging capability have led to the increased adoption of electric ground support equipment at airports.
Based on autonomy, the ground support equipment market has been segmented into conventional/manned, remotely operated, and autonomous. The conventional/manned segment is estimated to account for the largest share of 63.5% of the ground support equipment market in 2022.The rise in air traffic, freight transportation, and passenger movement are expected to drive the demand for conventional/manned GSE.
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.
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.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including: