Ground Support Equipment Market Share, Size, Trends, Industry Analysis Report, By Power Source (Non-Electric, Electric, Hybrid, Fuel Cell Vehicle, and Advanced GSE); By Ownership; By Platform; By Type; By Region; Segment Forecast, 2023-2032
- Published Date:Feb-2023
- Pages: 115
- Format: pdf
- Report ID: PM3016
- Base Year: 2022
- Historical Data: 2019-2021
Report Summary
The global ground support equipment market was valued at USD 5,184.50 million in 2022 and is expected to grow at a CAGR of 4.6% during the forecast period.
The rapid surge in the demand and prevalence for technologically advanced cargo handling equipment worldwide with the incorporated superior temperature handling and safer and secure transportation, including pallet loaders, cargo loaders, and ULD trucks, are key factors boosting the growth of the global market. In addition, the emergence of various advanced technologies and solutions enables players to actively engage their equipment to improve efficiency and minimize the overall turnaround time, positively contributing to market expansion.
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For instance, in December 2022, the International Air Transport Association introduced a new transition to enhanced ground support equipment. Enhanced GSE integrated with anti-collision and inching technology helps to improve vehicle control, boost docking accuracy, and further reduce the risk of getting damaged and personnel injuries.
Moreover, the global aviation sector is rapidly focusing on the adoption of greener products, and various regulatory authorities around the world are constantly working on the implementation of guidelines regarding eco-friendly processes and technologies that are likely to create high market demand and growth opportunities for greener aircraft ground support equipment in the aviation industry over the coming years.
However, the rapid shift towards electric ground support equipment from conventional diesel ground support equipment results in an extensive rise in the demand for charging infrastructure and facilities at airports. Thus, the need for charging facilities and inadequate infrastructure for electric GSE, as it requires high initial capital investments, are key factors expected to restrict the growth of the global market over the anticipated period.
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Industry Dynamics
Growth Drivers
The significant growth in the cargo movement and increased usage of airport inventories to store a wide range of aircraft spare parts, among others that fuel the demand for the ground support equipment to maintain all such inventories & transport cargo from the warehouse to the aircraft is a significant factor driving the growth of the global market. Additionally, there has been a rapid rise in air travelers post-pandemic at a rapid pace which will likely further boost the market growth during the forecast period.
Furthermore, increasing awareness regarding various environmental concerns associated with conventional variants and introducing many improved guidelines by regulatory authorities for developing and improving advanced technologies will further augment the growth and demand for eco-friendly and greener variants of GSE.
Report Segmentation
The market is primarily segmented based on power source, ownership, platform, type, and region.
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By Power Source |
By Ownership |
By Platform |
By Type |
By Region |
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Non-electric segment accounted for the largest market share in 2022
The non-electric segment accounted for a considerable market share in 2022, which is mainly driven by the wide presence of a variety of equipment at airports including tractors, water service vehicles, high lift loader vehicles, belt loaders, and lavatory vehicles. In addition, with the increasing penetration of cargo movement across several nations, the demand for efficient GSEs has gained high traction and growing significantly.
Furthermore, the electric segment is expected to grow fastest at a CAGR during the projected period owing to a rapid increase in the focus of the government’s green initiatives and a high adoption rate of greener and low carbon emission products. Moreover, increasing preferences for the replacement of old equipment with new electric ground support equipment in most of the world’s developed airports is further likely to boost the segment market growth.
New sales segment dominated the market with a significant revenue share
The new sales segment dominated the global market in 2022 with a significant market share in revenue. Segment's growth is attributed to the increased number of air travelers globally, increasing spending on modernization and enhancement of airports, and extensive aviation industry expansion. In addition, introducing much new and developed equipment by key market companies with lower emissions, higher efficiency, no carbon emissions, and other compliance with stringent regulatory norms is fueling the adoption of new equipment and driving the product's sales.
For instance, in June 2022, Indira Gandhi International Airport, Delhi, India, announced its plan to reduce the emissions associated with airside operations with the help of inducting 62 new electric vehicles over the course of 4 months. The new vehicles will be induced to serve multiple purposes, from cleaning the airport to transporting passengers and goods between aircraft and terminals.
Commercial sector is expected to hold the significant revenue share
The commercial sector is projected to hold a significant market share in 2022 with a healthy growth rate. The commercial segment is further categorized into passenger, cargo, and aircraft services. The cargo services segment of a commercial segment will likely witness the fastest market growth over the coming years due to the extensive usage of these services in transporting luggage, mail, and cargo within the airports to the terminals. Belt loaders also carry out cargo services, mainly used for loading and unloading baggage and cargo.
The mobile segment is expected to witness the highest growth rate
The mobile segment is expected to grow fastest at a CAGR during the anticipated period. The mobile ground support equipment is those types of equipment that are not restricted to one installed location and can be used from anywhere without any need to be connected to airport terminals. Mobile GSEs usually comprise ramp service equipment and cargo loading. Moreover, rapidly growing advancements and innovations in technology results in new features and facilities that encourage airport vendors to opt for these kinds of devices in their systems.
The demand in Asia Pacific is expected to witness significant growth
The Asia Pacific region is expected to emerge as the fastest-growing region over the forecast period at a CAGR. The growth of the regional market is mainly driven by rising investment in the aviation sector, especially among emerging economies such as India, China, and Indonesia, and rapid urbanization in the region. For instance, according to COMAC, a Chinese manufacturer of planes, China will become the world's largest aviation market by 2040 and account for around 22% of the total global passenger aircraft fleet.
However, the North America region accounted for the largest market share in 2022 and is likely to maintain its dominance throughout the forecast period. Higher spending on research & development activities and increased focus on developing eco-friendly and greener ground support equipment through converting GSE fleets to electrical are key factors driving the market growth in the region. Additionally, the Federal Aviation Administration initiatives like VALE and ARB, which give higher importance to producing quality products and using scientific technology, boost the market's growth.
Competitive Insight
Some of the major players operating in the global market include John Bean Technologies Corporation, Jungheinrich AG, Weihai Guangtai Airport Equipment Co. Ltd., Tronair, TK Elevators, Sinfonia Technology, Textron Ground Support Equipment Inc., Mallaghan, Kalmar Motor, Sojitz Aerospace Corporation, AERO SPECIALTIES INC., Curtis Instruments Inc., and Cavotec SA.
Recent Developments
In March 2022, Textron Ground Support Equipment, announced its new and latest collaboration with General Motors and Powertrain Control Solutions with an aim to expand its existing product offerings.
Furthermore, in November 2021, Rushlift GSE, announced that it has entered a 6-year agreement with Menzies Aviation. With this agreement, the company will lease 650 brand-new vehicles to Menzies Aviation.
Ground Support Equipment Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 5,405.88 million |
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Revenue forecast in 2032 |
USD 8,082.14 million |
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CAGR |
4.6% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments covered |
By Power Source, By Ownership, By Platform, By Type, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
John Bean Technologies Corporation, Jungheinrich AG, Weihai Guangtai Airport Equipment Co. Ltd., Tronair, TK Elevators, Sinfonia Technology, Textron Ground Support Equipment Inc., Mallaghan, Kalmar Motor, Sojitz Aerospace Corporation, AERO SPECIALTIES INC., Curtis Instruments Inc., and Cavotec SA. |
FAQ's
Ground Support Equipment Market Size Worth $8,082.14 Million By 2032.
key players are John Bean Technologies Corporation, Jungheinrich AG, Weihai Guangtai Airport Equipment Co. Ltd., Tronair, TK Elevators, Sinfonia Technology, Textron Ground Support Equipment Inc., Mallaghan, Kalmar Motor.
Asia Pacific contributes notably towards the global ground support equipment market
The global ground support equipment market expected to grow at a CAGR of 4.6% during the forecast period.
key segments are power source, ownership, platform, type, and region.
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