Advanced Materials and Chemicals

Global Ground Support Equipment Market is Expected to Reach USD 8,707.1 million by 2031

Mar 2024

Advanced Materials and Chemicals

As per the report published by Kings Research, the global Ground Support Equipment Market was valued at USD 5,646.4 million in 2023 and is projected to reach USD 8,707.1 million by 2031, growing at a CAGR of 5.75% from 2024 to 2031.

The market for ground support equipment plays a vital role in the aviation sector, offering essential services for aircraft maintenance, servicing, and operations. As the global air travel industry expands, there is a corresponding increase in the demand for ground support equipment. Airlines and airports are increasingly focusing on acquiring advanced and efficient ground support equipment to enhance operational effectiveness and reduce turnaround times. This trend presents a lucrative opportunity for investors seeking to capitalize on the growth potential of the market. Additionally, as technology progresses, there is a growing need for ground support equipment equipped with automation and digital capabilities. Companies aiming to maintain competitiveness must invest in intelligent solutions that streamline processes and enhance overall efficiency. By staying ahead of industry developments and predicting future demands, investors can establish themselves as front-runners in delivering state-of-the-art ground support equipment for the aviation sector.

Key Insights

  • Based on equipment, the tugs & tractors segment held the largest market share of 27.00% in 2023
  • Based on power source, diesel segment accounted for a significant market share of 27.24% market share in 2023
  • On the basis of region, Asia-Pacific accounted for the largest market share of 45.13% in 2023

Altaport collaborated with Electro. Aero, 1200.aero, ResilienX, TruWeather, Moonware Fortem, and ResilienX

March 2023: Altaport collaborated with Electro. Aero, 1200.aero, ResilienX, TruWeather, Moonware, Fortem, and ResilienX to provide a vertiport management solution. This solution supports data inputs such as Automatic Dependent Surveillance-Broadcast (ADS-B), airspace incursion sensors, low altitude micro-weather, and foreign object debris (FOD) detection. It also addresses ground activities like vehicle charging and ground support equipment (GSE) movement and allocation.

Increase in Air Traffic is Anticipated to Foster the Growth of the Market

The growth of air traffic has led to an increase in demand for ground support equipment in airports worldwide. As more passengers travel by air, the need for efficient and reliable equipment to support aircraft operations on the ground has become paramount. This trend has created lucrative opportunities for manufacturers and suppliers of ground support equipment, thereby driving the overall growth of the market. For instance, the increasing number of low-cost carriers and the expansion of international routes by major airlines have resulted in higher demand for ground support equipment such as baggage handling systems, aircraft tugs, and aircraft de-icing vehicles. Additionally, the burgeoning e-commerce sector and the growth of the air cargo industry have fueled the demand for ground support equipment, as airports strive to improve their handling capacity and efficiency to meet the growing demands of the market. Overall, the increasing complexity of airport operations and the need for improved efficiency have prompted airports to invest in advanced ground support equipment. This trend is expected to continue as airports worldwide face the pressure to handle larger volumes of passengers and cargo. As a result, manufacturers of ground support equipment are expected to witness steady growth in the coming years as they focus on meeting the evolving needs of the aviation industry. The competition in the market is further likely to intensify as companies strive to innovate and offer more advanced solutions to meet the demands of modern airports.

Technological Advancements to Boost the Growth of the Ground Support Equipment Market

Technological advancements have revolutionized the ground support equipment market by enhancing efficiency, safety, and overall performance. For instance, the introduction of electric-powered equipment has significantly reduced carbon emissions and operating costs for airports. Additionally, the integration of smart technologies such as sensors and data analytics has enabled real-time monitoring and predictive maintenance of ground support equipment, leading to increased uptime and operational reliability. These advancements are not only driving market growth but also shaping the future of airport operations. With the constant advancements in technology, the ground support equipment market is expected to continue to evolve in order to meet the demands of modern airports. As airports strive to become more sustainable and efficient, manufacturers are likely to focus on developing even more innovative solutions. The evolution of ground support equipment, ranging from electric-powered tugs to autonomous vehicles, is poised to transform airport operations in unforeseen ways. As the industry continues to adopt new technologies, airports can anticipate increased productivity, reduced costs, and improved overall performance.

Asia-Pacific is Growing Significantly with a Forecasted Market Value of USD 2,525.9 million

Asia-Pacific is emerging as the major region in the ground support equipment market due to its rapid economic growth, increasing air traffic, and rising investments in airport infrastructure. Countries such as China, India, and Japan are experiencing significant growth in their aviation sectors, leading to a higher demand for ground support equipment. Additionally, the region's strategic location as a hub for international trade and travel further contributes to its dominance in the market. Overall, the Asia-Pacific region offers lucrative opportunities for investors looking to capitalize on the growing aviation industry and the need for advanced ground support equipment. Additionally, with the advancements in technology and increasing globalization, the demand for efficient ground support equipment in the Asia-Pacific region is expected to rise in the upcoming years. As airports continue to expand and modernize their facilities, the need for state-of-the-art equipment to handle the increasing volume of passengers and cargo becomes crucial. Overall, the Asia-Pacific market presents a promising landscape for those looking to invest in the future of aviation infrastructure.

Market Players Focusing on Launching Products to Gain a Competitive Edge in the Market

The global ground support equipment market is consolidated with significant players such as AERO SPECIALTIES, INC., Cavotec SA, Textron GSE, Flightline Support Ltd., GATE GSE, Imai Aero-Equipment Mfg. Co. Ltd., JBT Corporation, Mallaghan, TLD, and Guangtai, Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

Get the latest!

Get actionable strategies to empower your business and market domination

  • Deliver Revenue Impact
  • Demand Supply Patterns
  • Market Estimation
  • Real-Time Insights
  • Market Intelligence
  • Lucrative Growth Opportunities
  • Micro & Macro Economic Factors
  • Futuristic Market Solutions
  • Revenue-Driven Results
  • Innovative Thought Leadership