Aircraft Ground Support Equipment Market 2017 – Opportunity, Driving Trends and deep study.
Pune, India, 17th October 2017: WiseGuyReports announced addition of new report, titled “Global Aircraft Ground Support Equipment Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024”.
Pune, India – October 17, 2017 /MarketersMedia/ —
Global Aircraft Ground Support Equipment Market
Market Overview
A service which has been provided to an aircraft and passengers during landing and take-off comprises under ground handling services. These services are delivered with the help of equipments commonly known as ground support handling equipments. Emerging air transport business has propelled the demand for ground handling equipments. Rising demand for services in aviation industry is likely to impact positively on aircraft ground support equipment market and increase the quality services for passengers.
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Ground services can be provided by private airlines companies or by third party vendors. As per International Air Transport Association (IATA) over 50% of airline companies outsource the ground support services to third party vendors or private non-airline companies. Increasing number of airports and extension of existing airport terminals is expected to flourish the demand of aircraft ground support equipment market across the globe. Rapidly increasing number of new aircrafts and up-gradation of existing airports facilities have fostered the demand for advanced ground handling equipments and services.
Key Market Players
• JBT Aerotech
• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis
• Hydraulics International, Inc
• Cavotec
• Textron Incorporated
• Tronair Inc.
• TLD
• Sage Parts
• Mallaghan Engineering Ltd
• Carolina GSE, Inc.
Market Segmentation
Global aircraft ground support equipment market can be categorized on following basis
• Based on Fuel Type
o Powered Equipment
o Non-Powered Equipment
• By Equipments Type
o Aircraft Handling Equipment
o Aircraft Maintenance Equipment
o Other Aircraft Ground Support Equipment (Refillers, Deicers, etc.)
• By End-User
o Defense Aircrafts
o Passenger Aircrafts
o Cargo Aircrafts
Market Size and Forecast (2016-2024)
Global aircraft ground support equipment market is projected to grow at CAGR of 11.25% over the forecast period i.e. 2016-2024. Global aircraft ground support equipment market was valued USD 12.1 billion in 2016 and is expected to reach over USD 27.5 billion by the end of 2024. The rising number of flight travels across the globe, especially in developed countries, is creating pressure on airport authorities to increase the ground support services for passengers and airliners. This rising number of aircraft fleet on international airports across the globe is increasing the demand for aircraft ground support equipment.
Geographically, North America region dominated the global aircraft support equipment market with a market share of more than 36% in 2016. Further, North America aircraft ground support equipment market is anticipated to reach USD 10.1 Billion by the end of the forecast period i.e. 2024. U.S. has total number of 15,071 numbers of airports, which makes this country at the top in terms of air traffic. As per Bureau of Transportation; rising number of international flights has increased the Revenue Passenger-Miles, (RPMs) by 5% accounting for over 890 million passengers in United States. Availability of large number of domestic passenger airlines and Cargo airlines in North America are the major factors to hold the global dominance in aircraft ground support equipment market.
Opportunities
• As growing airport industry is looking forward to adopt advanced aircraft ground support equipments. But this has lead to more number of work force and equipments which is actually an economic loss for the business. Thus pooling of aircraft ground support equipments can be proven as an effective measure to deliver quality services
• Pooling of ground handling staffs and support equipments will lead to decrease the aircraft part supplies and proper utilization of time and resources
• Manufacturing of new ground support equipments as per the design of airport and aircraft will reduce the risk of accidents and increase the efficiency of operations
• Aircraft ground support equipments suppliers and manufacturers can focus on utilization of used and refurbished aircraft ground support equipments. This will help in the reduction of manufacturing cost of new equipments
Country wise Industry Insights
• United States has maximum number of airports which is around 15,071 shows the strong internal and external communication of the country. Whereas Canada has over 1,330 airports but due to high taxes and fees, lower class passengers cannot afford to travel. High price for air tickets including landing and terminal fees has decreased the number of passengers as low and middle class passengers opt more for cheaper flights.
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