Airport Ground Support Equipment Market size to increase by USD 1.63 billion between 2022 to 2027, Market Segmentation by Type and Geography, Technavio

NEW YORK , April 22, 2024 /PRNewswire/ -- The global airport ground support equipment market size is estimated to grow by USD 1.63 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 4.27% during the forecast period. The Airport Ground Support Equipment (GSE) market faces challenges due to intense competition and high component costs. Suppliers must diversify, but this capital-intensive process includes new services like design and development. GSE consists of various elements, including airspace sensors, towing planes, refueling, and cleaning, demanding high costs due to quality requirements. Post-pandemic travel, safety regulations, and eco-friendly processes also impact the market. Key players focus on operational efficiency, greener products, and ownership models like fleet size and acquisition cost.

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The Type segment emerges as the fastest-growing segment in the airport ground support equipment market

The Airport Ground Support Equipment (GSE) market in North America is driven by the aviation industry, with significant contributions from airlines, aircraft manufacturers, and airports. The US, in particular, is a key market due to its mature economy and robust aviation base. The recovery of the US economy and increased air travel have led to increased demand for airport GSE, including baggage handling systems, passenger handling, and cargo handling equipment. Upgrades to existing airports, totaling USD128 billion by 2023, are creating new terminals and increasing the need for electric ground support equipment, such as Maintenance Platform Lifts and Autonomous Baggage Vehicles. Airport simulation software, Automated Guided Vehicles, and Vertiport management solutions are also in demand to enhance operational efficiency and safety. The market is subject to travel restrictions, safety regulations, and air traffic, and is transitioning towards greener products and eco-friendly processes. Key players include air carriers, authorities, and manufacturers, focusing on acquisition cost, capacity, and compliance with guidelines. Equipment offerings include tow trucks, refueling and de-icing equipment, cleaning systems, freight carts, portable water storage, firefighting equipment, passenger service vehicles, emergency services, and lavatory tank drainage systems. Innovations include Lithium batteries, airspace incursion sensors, and low altitude microweather monitoring systems.

Commenting on the market trends, a Senior Analyst of Technavio, stated," Airports and airlines face increasing demand for efficient ground handling to enhance passenger capacity and reduce costs. GSE pooling, supplying shared airport GSE to multiple handlers, reduces congestion and saves 24%. Key airport GSE include electric vehicles, baggage systems, refueling, de-icing, and cargo handling equipment. Post-pandemic travel recovery drives investment in eco-friendly, cost-effective solutions like autonomous vehicles and simulation software. Regulatory guidelines shape the market for greener products and operational efficiency."

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Analyst Review

The Airport Ground Support Equipment (GSE) market encompasses a range of technologies and solutions essential for efficient air travel operations. Key components include Baggage Handling Systems, Autonomous Baggage Vehicles, and Automated Guided Vehicles, facilitating Passenger and Cargo handling. Electric Ground Support Equipment, such as Maintenance Platform Lifts, plays a crucial role in Aircraft maintenance. Airport Simulation Software and Vertiport Management Solutions optimize Airport operations, while Low Altitude Microweather sensors ensure safe Airspace incursion prevention. Towing Airplanes, Refueling, De-icing, Cleaning, and Freight Carts are other vital GSE applications. Portable Water Storage, Fire Fighting, Passenger Service, Emergency Services, Lavatory Tank Drainage, and Terminal's Service Area are integral parts of the Airport operation, served by Air Carriers and their GSE partners.

Market Overview

The Airport Ground Support Equipment (AGSE) market encompasses a range of essential machinery and vehicles used in airport operations. Key components include Aircraft Towing Vehicles, Passenger Boarding Bridges, Aircraft Refueling Systems, and Aircraft Maintenance Equipment. These systems facilitate efficient and safe airport operations, ensuring smooth passenger and cargo handling. The market for AGSE is driven by factors such as increasing air traffic, growing passenger numbers, and the need for advanced technology in airport infrastructure. Companies like Cargo, Baggage Handling, and Electric provide solutions for various AGSE requirements. Passenger comfort and safety, as well as operational efficiency, are primary considerations in the design and implementation of AGSE. The market is expected to grow significantly in the coming years due to the increasing demand for improved airport infrastructure and services.

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio