NEW YORK, June 15, 2016 /PRNewswire/ -- According to the projections in this report, the ground support equipment market has been estimated to be worth USD 12.22 billion in 2016, and is expected to reach USD 19.44 billion by 2021, at a CAGR of 9.72%. Factors that drive the global ground support equipment market include rise in passenger traffic and increasing focus towards enhancing operational efficiency by airports.
"Passenger service segment to witness the highest growth during the forecast period"
The ground support equipment market has been segmented based on application into passenger, cargo, and aircraft service equipment wherein, the passenger service equipment segment dominates the studied market, and is expected to continue its dominance over the next 5 years, primarily driven by the increase in passenger traffic and airports continually striving to cater to the subsequent demand for passenger service equipment.
"The Asia-Pacific region to offer significant opportunities for growth"
The APAC region is expected to exhibit the highest growth rate in the ground support equipment market during the forecast period from 2016 to 2021. This growth in air transport in the Asia-Pacific region can be attributed to increase in government spending for airport infrastructure development and growing GDP of the region.
Break-up of profile of primary participants for the report has been given below.
- By Company Type - Tier 1 – 35 %, Tier 2 – 45% and Tier 3 – 20%
- By Designation – C level – 35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 20%, APAC – 30%, RoW – 5%
The major companies profiled in the report include JBT Corporation (U.S.), Cavotec SA (Switzerland), Teleflex Lionel-Dupont (France), Toyota Industries Corp.(Japan), and Tug Technologies Corporation (U.S.).
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the ground support equipment market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on ground support equipment offered by the top players in the global ground support equipment market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the ground support equipment market
- Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for ground support equipment across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global ground support equipment market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global ground support equipment market
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