Ground Support Equipment Market Size Worth $8,082.14 Million By 2032 | CAGR: 4.6%

Ground Support Equipment Market Size Worth $8,082.14 Million By 2032 | CAGR: 4.6%

The global ground support equipment market size is expected to reach USD 8,082.14 million by 2032, according to a new study by Polaris Market Research. The report “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, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Globally, there has been considerable growth in the number of air passengers and cargo flights, which is likely to grow continuously throughout the coming years, which results in higher adoption of advanced GSE and is expected to boost the growth of the global market. Moreover, several airports across the globe are undertaking significant upgrades to their system to improve operational efficiency and shorten turnaround times. Increased operation effectiveness has numerous advantages, including lowering operating costs and raising profit margins fueling market expansion.

For instance, in October 2022, UL Solutions, a global safety science company, introduced its new service and standard for evaluating lithium-ion battery-powered electric ground equipment at airports. UL 5840 provides higher safety standards that address the risk of electric shock, fire, and explosion hazards and further help to mitigate several issues related to those batteries in GSE.

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The rapidly increasing warehouse operations, coupled with the constant modernization and development activities like the establishment of new terminals, gates, and passenger service equipment, are gaining high traction and are likely to impact the market during the forecast period positively. Along with this, the rising environmental consciousness that has led governments of many countries to invest considerably in greener equipment and the introduction of collaborative decision-making tools will create new market growth opportunities at a significant pace.

Ground Support Equipment Market Report Highlights

  • Non-electric segment accounted for considerable global market share in 2022 owing to rising cargo movement and easy availability of various equipment like belt loaders, lavatory vehicles, and tractors
  • New sales segment dominated the market in 2022 which is mainly accelerated by increased spending on airports modernization and industry expansion
  • Commercial segment is anticipated to hold a significant market share over the forecast period due to the wide range of cargo services applications at airports
  • Mobile segment is projected to witness the fastest CAGR during the anticipated period, as a result of higher technological advancements and the introduction of advanced features
  • Asia Pacific region is expected to grow significantly over the coming years on account of the rapid increase in the tourism industry and various favorable initiatives that have been taken by government authorities such as subsidies and land benefits
  • The global key market players include John Beam Technologies Corporation, TK Elevators, Textron Ground Support Equipment Inc., Aerospace Corporation, and Curtis Instruments

Polaris Market Research has segmented the ground support equipment market report based on power source, ownership, platform, type, and region:

Ground Support Equipment, Power Source Outlook (Revenue - USD Million, 2019 - 2032)

  • Non-Electric
  • Electric
  • Hybrid
  • Fuel Cell Vehicle
  • Advanced GSE

Ground Support Equipment, Ownership Outlook (Revenue - USD Million, 2019 - 2032)

  • New Sales
  • Used Sales
  • Rental/Lease

Ground Support Equipment, Platform Outlook (Revenue - USD Million, 2019 - 2032)

  • Conventional
  • Military

Ground Support Equipment, Type Outlook (Revenue - USD Million, 2019 - 2032)

  • Mobile
  • Fixed

Ground Support Equipment, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa