Northbrook, IL -- (SBWIRE) -- 12/06/2020 -- The ground support equipment market is projected to grow from USD 4.0 billion in 2020 to USD 10.2 billion by 2025, at a CAGR of 20.7% from 2020 to 2025. Some of the factors that are expected to fuel the growth of the ground support equipment market are rising demand for electric ground support equipment, increasing warehouse operations at airports, and ongoing expansions of airports to cater to the rising global air passenger traffic.

Ground Support Equipment Market Ecosystem

Prominent companies that provide sustainable aviation fuel, private and small enterprises, technology providers, distributors/suppliers/retailers, and end customers (airlines and airports) are the key stakeholders in the ground support equipment market ecosystem. Investors, funders, academic researchers, distributors, service providers, and airport and aerodrome authorities serve as major influencers in the ground support equipment market.

Based on type, the mobile GSE segment of the ground support equipment market is projected to grow at the highest CAGR during the forecast period

Based on type, the ground support equipment market has been segmented into mobile and fixed. The mobile GSE segment of the ground support equipment market is projected to grow at the highest CAGR from 2020 to 2025. Mobile GSE play a crucial role in airport operations as they enable airlines in achieving On-time Performance. Various types of mobile GSE segment are cargo/container loaders, pushback tractors, forklifts, container pallet transporters, baggage tractors, bulk loaders/conveyors, cabin service vehicles, boarding stairs, lavatory vehicles, passenger buses, deicers, aircraft fueling trucks, mobile ground power units, and mobile pre-conditioned air units. Rise in aircraft movements and increase in the number of airport expansion projects are expected to drive the growth of the mobile GSE segment of the market during the forecast period.

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Based on power source, the non-electric segment is expected to lead the ground support equipment market from 2020 to 2025

Based on power source, the ground support equipment market has been segmented into non-electric, electric, and hybrid. The growth of the non-electric segment of the market can be attributed to ongoing airport expansions and rising number of aircraft movements in emerging economies of Asia Pacific and the Middle East. The cost being one of the major barriers to the adoption of electric GSE, there haves been advancements in diesel engines used in non-electric GSE vehicles such as GPUs, fueling trucks, tug and tow tractors. These vehicles and equipment offer performance optimized to reduce emissions and improve air quality for ground service operators and other airport personnel.

Based on platform, the commercial segment of the ground support equipment market is projected to grow at the highest CAGR from 2020 to 2025

Based on platform, the ground support equipment market has been segmented into commercial and military. The commercial segment has been further classified into passenger services, cargo services, and aircraft services. 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. However, diesel ground support equipment are still used in various commercial applications in the Asia Pacific region.

Based on mode of operation, the conventional/manned segment of the ground support equipment market is projected to lead during the forecast period

Based on mode of operation, the ground support equipment market has been segmented into conventional/manned, remotely operated, and autonomous. Conventional/manned GSE such as ground power units, air starter units, air conditioning units, baggage tractors, cargo loaders, passenger buses/shuttles, passenger stairs, and potable & lavatory trucks are operated by ground equipment operators. The rise in air traffic, freight transportation, and passenger movement will drive the demand for conventional/manned GSE.

The North American region is projected to dominate the ground support equipment market during the forecast period

The North American region is projected to lead the ground support equipment market during the forecast period. Investments in brownfield airport projects in order to modernize and enhance airport infrastructures in North America are fueling the growth of the ground support equipment market in the region. There is massive pressure on airports and manufacturers of ground support equipment to reduce emissions. Several countries in the North American region have a zero-emission policy, which has led manufacturers of ground support equipment to provide environment-friendly equipment and ground handlers to use environment-friendly fuel. Competition is fierce in this region owing to the presence of a large number of original component manufacturers (OCMs) and original equipment manufacturers (OEMs) such as JBT AeroTech and Tug Technologies Corporation. Ongoing modernization programs in existing airports in the US are expected to drive the growth of the ground support equipment market during the forecast period.

Key Market Players

The major players in the ground support equipment market are JBT Corporation (US), Teleflex Lionel-Dupont (TLD) (France), Mallaghan (UK), Tug Technologies Corporation (Textron GSE) (US), Tronair (US), MULAG Fahrzeugwerk (Germany), Guangtai (China), Rheinmetall AG (Germany), ITW GSE (Denmark), and Cavotec SA (Switzerland). These players have adopted various growth strategies such as contracts, joint ventures, partnerships & agreements, acquisitions, and new product launches to further expand their presence in the ground support equipment market.