Pune, India -- (SBWIRE) -- 07/17/2018 -- Market Highlights:
Airport Ground Support Equipment (GSE) is support equipment found at the airside and airport terminals for additional passenger or aircraft support. This also benefits the aircraft maintenance and service between flight stoppages. Of late, rising investments by countries in airport infrastructure has led to an increase in the demand for airport GSE. As a result, higher investments are being made in the development of GSE, which would witness a rapid growth during the forecast period. However, major restraints of the market growth include high maintenance costs and high cost involved in the replacement of older GSE.
Airport GSE is used for aircraft handling, passenger handling, and cargo handling. While, the ground power units are used for towing aircraft and other aircraft handling operations, dollies, chocks, tripod chock, and service stairs are used for cargo handling. Moreover, the rise in energy efficient equipment at airports to reduce CO2 and noise pollution, and at the same time aids in achieving higher economic efficiency has bolstered the market. In the recent years, airports are making significant investments to increase their operating efficiency and decrease their turnaround time (TAT). The benefit of enhancing operational efficiency is that it reduces maintenance costs and increases profits. Therefore, it is important for the airport authorities to have competent GSE.
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Major Key Players
Teleflex Lionel-Dupont Group (France),
JBT Corporation (U.S.),
Tug Technologies Corporation (U.S.),
AMSS GSE (U.K),
Tronair Inc. (U.S.),
Mallaghan Engineering Ltd. (U.K),
Mulag Fahrzeugwerk GmbH (Germany),
Shenzhen Cimc-Tianda Airport Support Co. Ltd. (China),
Gate GSE (Belgium) and Avia Equipment Pte Ltd (Singapore).
The increasing investments in airport infrastructure and need for aircraft maintenance will offer new growth opportunities to the market players. The factors responsible for the growth of the airport GSE market are the increasing air passenger and freight traffic, warehouse operations at airports, and number of airport expansions. There were a number of contracts that fueled the market growth. For instance, in 2017, Teleflex Lionel-Dupont Group signed a contract with KLM, to supply full electric fleet loader. Similarly, in 2017, JBT Corporation acquired Aircraft Maintenance Support Services Ltd (AMSS) to expand their equipment maintenance division. Flughafen Wien AG, in 2017, signed a contract with Australian Airlines to support airport ground handling operations, such as boarding and de-boarding for passengers, loading and unloading baggage, cleaning aircraft cabins, and aircraft towing.
The airport GSE market has been segmented into type, component, end-user, and region. Based on type, electric GSE are widely used and expected to comprise the largest share in the market due to increasing usage of energy efficient GSE technologies. Based on equipment, it is expected that the movement equipment segment is expected to witness the largest demand in the global market, during the forecast period, due to their increased deployment for aircraft and passenger handling. Based on application, aircraft handling segment would expected to witness the largest demand in the global market due to the increase in air passenger traffic and their maintenance and ground support activities at the airport. On the basis of end-user, commercial airports are expected to dominate the market during the forecast period due to increase in freight, aircraft, and passenger traffic at the airport.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, the Middle East, and Latin America. North America is expected to dominate the market in the future, due to increase in the demand for electric and hybrid ground support equipment at airports. The Asia Pacific region second to the North American region in the global market due to the recent investments in airport infrastructure and the growing demand for GSE to cater the increasing air passenger traffic in developing countries such as India and China. Thus, the global airport GSE market is estimated to witness rapid growth, at a CAGR of approximately 12%, during 2018 to 2023.
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