Fior Markets launched a study titled “Ground Support Equipment Market by Type (Electric, Non-Electric, Hybrid), End Use (Commercial,Defense), Component, Application, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.”
The global ground support equipment market is expected to grow from USD 15.12 Billion in 2017 to USD 38.56 Billion by 2025 at a CAGR of 12.4% during the forecast period from 2018-2025. Up surge in number of airports and airlines and growing demand for hybrid and electric ground support equipment are two factors stimulating the growth of the market.
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The emulsification segment is dominating the market with the highest share of 62.40% in 2017
The component segment is divided into segments such as equipment and MRO. The emulsification segment is dominating the market in 2017. Increasing purchasing power in emerging economies is one of the key factor driving the market for the ground support equipment for the forecast period.
The commercial segment valued around USD 9.08 Million in 2017
The end use segment includes commercial and defense. The commercial segment is dominating the market with the highest share in 2017 due to increase in freight, aircraft, and passenger traffic at the airport.
The electric segment held the market share of 48.90% in 2017
The type segment is classified into electric, non-electric and hybrid. The electric segment is dominating the market in 2017 owing to the high demand for clean, green, and energy efficient ground support equipment technologies.
The aircraft handling segment held the market share of 47.20% in 2017
The application segment includes aircraft handling, passenger handling and cargo handling. The aircraft handling segment is dominating the market with the highest share in 2017 attributed to the increase in investments in airport infrastructure in the region
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North Americaheld the largest market share of approximately40.10% in 2017.North America is dominating region because the market is mainly driven by the improvement in technologies and growing demand for 3D displays in different end user applications.
The major players of market include Tug Technologies Corporation, GATE GSE, WeihaiGuangtai Airports Equipment Co., Ltd., Imai Aero-Equipment Mfg. Co. Ltd., Mallaghan Engineering, Ltd., AERO Specialties, Inc., Cavotec SA, Flightline Support Ltd., JBT Corporation, and Douglas Equipment Ltd.
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