The Asia Pacific Ground Support Equipment Market would witness market growth of 6.6% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Ground Support Equipment Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $873.9 million by 2031. The Japan market is registering a CAGR of 5.9% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 7.3% during (2024 - 2031).
Several factors drive the demand for GSE and services. The growth in air passenger traffic, expansion, and modernization of airport infrastructure, increasing fleet size of commercial and cargo aircraft. Moreover, technological advancements are pivotal in driving innovation within the GSE market, focusing on electrification, automation, digitalization, and sustainable solutions.
These trends are reshaping the landscape of ground handling operations, driving efficiency gains, reducing environmental impact, and enhancing safety and reliability. Moreover, key players in the market include manufacturers, suppliers, and service providers specializing in various equipment categories and solutions. Companies such as TLD Group, Textron Inc., JBT Corporation, are prominent players driving innovation and competition within the market.
The Asia-Pacific region attracts millions of international tourists each year, many of whom arrive by air. The demand for GSE for cargo handling further contributes to the growth of the market. According to the Civil Aviation Administration of China (CAAC), in 2021, China’s air travel volume rose annually by 7.3%, 5.5%, and 8.2% for passengers, cargo, and mail, respectively. Government support and investment in airport infrastructure development play a crucial role in driving growth in the market in the Asia-Pacific region by creating innovation in airport operations and services. According to the International Trade Administration (ITA), in 2022, the Indian government aims to develop 100 airports by 2024 (under the UDAN “Ude Desh ka Aam Naagrik”- Let the common citizens of the country fly scheme) and invest US$ 1.83 billion by 2026. In the Indian Union Budget 2022, the government announced an R&D budget of approximately $280 million. Thus, government support and investment in air traffic passenger, cargo, and mail transportation in Asia Pacific significantly increase the market.
Free Valuable Insights: The Global Ground Support Equipment Market is Predict to reach USD 12.1 Billion by 2031, at a CAGR of 6%
Based on Type, the market is segmented into Powered (GSE) and Non-powered (GSE). Based on Application, the market is segmented into Aircraft Handling, Passenger Handling and Cargo Handling. Based on Power Source, the market is segmented into Non-Electric, Electric and Hybrid. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Type
By Application
By Power Source
By Country
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