Aircraft Ground Support Equipment Market to Grow by USD 1.66 Billion (2024-2028), Boosted by Airport Construction and AI-Driven Market Transformation- Technavio

NEW YORK, Sept. 24, 2024 -- Report with the AI impact on market trends- The global aircraft ground support equipment market size is estimated to grow by USD 1.66 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.36% during the forecast period.  Rise in construction of airports is driving market growth, with a trend towards rising preference for smart airports. However, high initial and replacement cost of ground support equipment  poses a challenge. Key market players include AERO Specialties Inc., Air MAK Industries Inc., Air T Inc., Cavotec SA, China International Marine Containers Group Ltd., ECA Group, Fricke Airportsystems GmbH, Honeywell International Inc., IMAI AERO EQUIPMENT MFG. Co. Ltd., ITW GSE ApS, John Bean Technologies Corp., Jungheinrich Group, Mallaghan GA Inc., Rheinmetall AG, SINFONIA TECHNOLOGY Co. Ltd., Textron Inc., TK Elevator GmbH, TLD, Tronair Inc., and Weihai Guangtai Airport Equipment Co. Ltd.

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

The global aviation industry has experienced significant growth since the turn of the millennium, leading to the adoption of advanced and automated approaches in airport operations. Smart airports, developed around a converged IP platform, enable real-time data exchange and airport-wide integration of passenger services and security capabilities. Regulatory authorities such as IATA, FAA, EASA, CASA, and the EU encourage their development to minimize risks and reduce passenger inconvenience. Airline operators and airport authorities share agile infrastructure to reduce turnaround time and enhance the passenger experience. Advanced operational efficiency is ensured through converged network architecture. The rise of smart airports is driving the demand for advanced aircraft ground support equipment, such as hybrid-electric TaxiBots and autonomous cargo tractors, provided by companies like TLD. This trend is expected to continue, positively impacting the growth of the aircraft ground support equipment market. 

The Aircraft Ground Support Equipment (GSE) market is experiencing significant growth due to increasing air traffic and aviation infrastructure development. Rental aircraft ground equipment is becoming increasingly popular in the commercial segment, driven by turnaround time requirements and passenger numbers. Advances in technology, such as autonomous systems and telematics, are improving efficiency and reducing environmental impact. Cargo transportation in the international air transport sector is also boosting demand for GSE, particularly for cargo loading and unloading equipment. Airport authorities are investing in eco-friendly equipment for sustainable airport environments. The military aviation sector and defense sector are also major consumers of GSE for aircraft servicing and loading/unloading. The passenger service segment, including passenger boarding bridges and passenger service equipment, is a key area of focus for airport expansions and modernization efforts. The petroleum sector and ground handlers also rely on GSE for aircraft fueling and servicing. Overall, the GSE market is a vital part of the aviation industry, supporting air travel and transportation infrastructure in emerging economies and developed countries alike. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

• The global aircraft ground support equipment market is experiencing significant challenges due to rising fuel and labor costs. Fuel prices have grown as a result of geopolitical events, such as US sanctions on Iran's oil exports and OPEC production cuts. Labor costs, on the other hand, are fixed in the short term for commercial airlines but are subject to inflation. These rising costs are putting pressure on unit costs to maintain ground support equipment, negatively impacting airline profit margins. In response, airport authorities are exploring the adoption of electric and hybrid vehicles to eliminate fuel-dependent equipment. While this transition can reduce annual fuel costs and increase operating profits, it comes with high infrastructure and capital expenditure. Effective management of the transition cost is crucial to maximize revenue. Smaller airports may be reluctant to adopt new technologies due to funding constraints or late adoption, which could hinder market growth during the forecast period.
• The Aircraft Ground Support Equipment (GSE) market faces several challenges that require innovative solutions. Passenger trust and loyalty demand eco-friendly practices, such as reducing carbon footprint and environmental impact. GSE providers invest in green innovation, like eGSE chargers and airport e-buses, to decarbonize operations. Affordable pricing, reliable technology, and trusted partnerships are essential for operational efficiency and fleet management. Fleet utilization and maintenance needs require prompt delivery and reliable equipment. Regulatory standards and safety requirements call for innovative solutions, such as alternative energy sources like batteries and hydrogen fuel cells. The market ecosystem includes GSE equipment providers, private enterprises, distributors, retailers, airport operators, investors, and funders. Baggage loaders, aircraft deicing trucks, ground power units, air conditioning units, and catering trucks all require efficient power sources. The electric GSE segment is growing, driven by the need for sustainable practices and operational demands.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This aircraft ground support equipment market report extensively covers market segmentation by

1. Application 
   • 1.1 Passenger aircraft
   • 1.2 Cargo aircraft
   • 1.3 Military aircraft
2. Type 
   • 2.1 Powered ground support equipment
   • 2.2 Non-powered ground support equipment
3. Geography 
   • 3.1 APAC
   • 3.2 North America
   • 3.3 Europe
   • 3.4 Middle East and Africa
   • 3.5 South America

1.1 Passenger aircraft-  The Aircraft Ground Support Equipment (AGSE) market refers to the industry that provides equipment for the safe and efficient handling of aircraft on the ground. This includes items such as power units, airstart units, de-icing equipment, and cargo handling systems. The market is driven by increasing air travel demand, fleet expansion, and technological advancements. Major players include Honeywell, UTC Aerospace Systems, and Safran. Companies invest in research and development to offer innovative solutions and improve efficiency.

Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) 

Research Analysis

The Aircraft Ground Support Equipment (GSE) market plays a crucial role in the aviation industry, ensuring the efficient and safe operation of air traffic. With the increasing air traffic and passenger numbers, the demand for GSE is on the rise. Aviation infrastructure, including rental aircraft ground support services, is continually advancing with technology to reduce turnaround time and improve cargo transportation. The international air transport sector relies heavily on GSE for eco-friendly equipment, such as electric and hybrid vehicles, to minimize the carbon footprint of air travel. The defense sector also utilizes GSE for specialized applications, such as refueling and aircraft servicing. Airport authorities invest in autonomous systems, telematics, and advanced GSE to optimize airport operations and enhance the passenger experience. The tourism industry's growth contributes to the increasing demand for GSE, making it an essential component of the aviation industry's infrastructure.

Market Research Overview

The Aircraft Ground Support Equipment (GSE) market is a critical component of the aviation industry, providing essential services for air traffic management and aviation infrastructure. Rental aircraft ground equipment plays a significant role in the commercial and military aviation sectors, with advances in technology driving the market forward. Cargo transportation and passenger numbers continue to grow in the international air transport sector, leading to increased demand for GSE. Turnaround time is a key consideration for airport authorities, with eco-friendly equipment and autonomous systems, such as telematics and predictive maintenance technologies, becoming increasingly important. The defense sector also utilizes GSE for military aviation, while sustainability and decarbonization efforts are driving innovation in the market. Ground handlers, GSE operators, and airlines all benefit from reliable technology, affordable pricing, and trusted partnerships to meet operational demands and maintain fleet utilization and maintenance needs. However, mishaps, such as collisions and improper towing procedures, can result in financial losses, downtime, and reputational damage. Airports and GSE providers must prioritize safety, operational efficiency, and environmental impact, with a focus on carbon emissions, air quality, and green innovation.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
  • Passenger Aircraft
  • Cargo Aircraft
  • Military Aircraft
• Type
  • Powered Ground Support Equipment
  • Non-powered Ground Support Equipment
• Geography
  • APAC
  • North America
  • Europe
  • Middle East And Africa
  • South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

This News is brought to you by Qube Mark, your trusted source for the latest updates and insights in marketing technology. Stay tuned for more groundbreaking innovations in the world of technology.