“Global Ground Support Equipment Market to reach a market value of USD 12.1 Billion by 2031 growing at a CAGR of 6.0%”
The Global Ground Support Equipment Market size is expected to reach $12.1 billion by 2031, rising at a market growth of 6.0% CAGR during the forecast period.
Europe places a strong emphasis on safety and security in aviation operations. The Europe region will consume 3,696.7 million revenues in 2031. Therefore, the market includes various safety equipment such as aircraft marshalling wands, safety cones, barriers, fire extinguishers, and security screening devices to maintain safety standards and comply with regulations. Therefore, these aspects will pose lucrative growth prospects for the segment.
In the dynamic landscape of modern air travel, passenger comfort, convenience, and efficiency have emerged as paramount priorities. Deicing trucks equipped with specialized spraying equipment and deicing fluids remove ice and snow accumulation from aircraft surfaces, ensuring optimal aerodynamic performance and preventing safety hazards. Hence, these aspects will spur the demand for GSE in the upcoming years. Additionally, Safety regulations mandate specific standards for the design, manufacturing, and operation of GSE to ensure the safety of airport personnel, passengers, and aircraft. Therefore, stringent safety and environmental regulations play a significant role in shaping the market.
However, the initial cost of purchasing GSE can be substantial, especially for specialized or technologically advanced equipment. Aircraft tugs, baggage loaders, and ground power units (GPUs) are examples of GSE that can require significant investment. The high upfront investment required for technology upgrades may deter organizations from embracing new GSE solutions. Therefore, these factors can hamper the growth of the market.
Based on type, the market is characterized by powered GSE and non-powered GSE. In 2023, the non-powered GSE segment recorded 28.8% revenue share in the market. Non-powered GSE facilitates ground handling operations at airports, military airbases, and cargo terminals. Non-powered GSE is essential for ground personnel to ensure the efficient and safe movement of aircraft, passengers, and cargo on the ground.
Based on application, the market is fragmented into aircraft handling, passenger handling, and cargo handling. The passenger handling segment recorded 36.3% revenue share in the market in 2023. Passenger handling encompasses a wide range of equipment, vehicles, and services aimed at ensuring a smooth, comfortable, and efficient passenger experience from arrival at the airport to boarding the aircraft.
By power source, the market is classified into non-electric, hybrid, and electric. In 2023, the hybrid segment acquired 11.3% revenue share in the market. Using hybrid technology in GSE offers several benefits, including increased efficiency, reduced emissions, and improved performance. One notable area of advancement is seen in hybrid-electric aircraft tugs, which seamlessly integrate electric motors with conventional combustion engines.
Free Valuable Insights: Global Ground Support Equipment Market size to reach USD 12.1 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered 35%, revenue share in the GSE market in 2023. The adoption of advanced technology for ground handling operations within the North American market includes integrating automated baggage handling systems, sophisticated cargo handling equipment, and state-of-the-art aircraft servicing vehicles.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 7.7 Billion |
| Market size forecast in 2031 | USD 12.1 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6% from 2024 to 2031 |
| Number of Pages | 218 |
| Number of Tables | 340 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Power Source, Application, Region |
| Country scope |
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| Companies Included | Textron, Inc., Weihai Guangtai Airport Equipment Co., Ltd., Aero Specialties, Inc., John Bean Technologies Corporation, Illinois Tool Works, Inc., IAC Corporation, Aeroservices Ltd., Flofuel Support Ltd. (Argent Industrial Limited), Alvest Equipment Services (TLD Group), Mallaghan HQ |
By Type
By Application
By Power Source
By Geography
This Market size is expected to reach $12.1 billion by 2031.
Increasing demand for passenger comfort and efficiency are driving the Market in coming years, however, High cost of acquiring, operating, and maintaining restraints the growth of the Market.
Textron, Inc., Weihai Guangtai Airport Equipment Co., Ltd., Aero Specialties, Inc., John Bean Technologies Corporation, Illinois Tool Works, Inc., IAC Corporation, Aeroservices Ltd., Flofuel Support Ltd. (Argent Industrial Limited), Alvest Equipment Services (TLD Group), Mallaghan HQ
The expected CAGR of this Market is 6.0% from 2024 to 2031.
The Aircraft Handling segment is leading the Market by Application in 2023, thereby achieving a market value of $5.3 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4 billion by 2031.
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