Selbyville, Delaware, Jan. 13, 2020 (GLOBE NEWSWIRE) --
According to latest report “Ground Support Equipment Market by Type (Fixed, Mobile), Equipment (Ground Power Unit, Air Start Unit, Air Conditioning Unit, Tow Tractors, Deicers), Power Type (Diesel, Electric, Hybrid), Aircraft (Fighter Jets, Transport Aircraft, Special Mission Aircraft), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of ground support equipment will reach $600 million by 2024.
The growth of the ground support equipment market revenue can be attributed to demand for combat-ready aircraft, rising defense expenditure, and increasing defense aircraft procurement. Increasing technological advancement and upgrading of existing fleet are also supporting market growth. Major industry players are investing in R&D activities to provide support for the next-generation fighter jets and special mission aircraft.
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Major industry players in the market are focused on providing new technologies to support next-generation fighter jets and special mission aircraft. The demand for multipurpose and advanced ground support equipment to reduce support operation cost is supporting the ground support equipment market share.
For instance, in April 2018, Aviation Ground Equipment Corporation received a contract from U.S. Air Force to provide diesel-powered multi-output ground power unit to support JSF F-35 program. The new GPU can provide voltage ranging from 72kW to 28.5VDC for all aircraft types. The new units are easy to operate and require less maintenance while meeting all the requirements for military standards.
Increasing requirement of fighter jets to be combat ready within minimum timeframe is driving technological advancement in defense aircraft, making them more advanced in terms of systems and minimizing the time for ground operation. Most of the next-generation aircraft are now equipped with additional systems for reducing the ground support operation. This can be a major ground support equipment market decelerator within coming years.
Technological developments in defense ground support equipment to improve their mobility, ease of operation, and enhance scope of applications are supporting market growth. Industry players are simplifying designs and operational requirements of support equipment. This significantly improves their mobility, allowing fighter jets to operate from any remote location.
For instance, mobile ground support equipment is being used with next-generation fighter jets, which do not have indigenous operational capabilities. The new equipment is compact, foldable, easily transportable, and operated without any external power. The equipment requires only two types of cradles and carriages to perform armament loading/unloading operations, reducing the maintenance and operation cost for the support equipment.
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The major ground support equipment market players are focusing on long-term contacts and collaborations with government authorities for development of more advanced support equipment for the defense industry. The constantly upgrading combat aircraft is one of the major market drivers for technological advancement of the support equipment. Most of the aircraft manufacturers are investing in next-generation equipment to support new aircraft.
For instance, the new fifth-generation F-35A requires more advanced support equipment then the conventional combat aircraft. Every system of Lockheed Martin F-35A has an associated support equipment to increase aircraft flight time and efficiency. Apart from compact support the new aircraft also has weapon loader and power generators to support ground operations along with large air conditioning units to cool down avionics systems during the landing and takeoff.
Some major findings of the ground support equipment market report include:
- Increasing aircraft orders from countries including India, China, and South Korea.
- Increasing R&D investments and government contracts to manufacture next-generation defense aircraft and support equipment.
- Rising demand for electric ground support equipment in Europe due to government regulations to cut down carbon emission.
- Introduction of new hybrid ground support equipment that requires less maintenance and higher output compared to conventional GSE.
- Some of the major industry players in ground support equipment market are Cavotec SA, Enersys, Guinault, Tronair, Rheinmetall AG, JBT Corporation, and ITW GSE.
- Most of the major aircraft manufacturers are also providing support equipment along with the aircraft to gain a competitive advantage in the competition.
- Increasing demand for compact and multipurpose ground support equipment to reduce operational cost is supporting the demand for the market.
Table of Contents (ToC) of the report:
Chapter 3 Ground Support Equipment Market Insights
3.1 Introduction
3.2 Industry segmentation
3.3 Industry landscape, 2015-2026
3.4 Market evolution
3.5 Industry ecosystem analysis
3.6 Technology Landscape
3.6.1 Alternative fuels
3.6.2 Fleet telematics
3.7 Regulatory landscape
3.7.1 Army Publishing Directorate (APD)
3.7.1.1 Army Aviation Maintenance - ATP 3-04.7
3.7.1.1.1 Quality control support for maintenance equipment and programs
3.7.1.1.2 Authorization documents
3.7.1.1.3 Requests for additional aviation ground support equipment
3.7.2 Code of Federal Regulations (CFR)
3.7.2.1 Determination and Findings—Authority to Negotiate Class of Contracts
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing investments in defense sector
3.8.1.2 Rise in requirements for combat ready fleet
3.8.1.3 Technological advancement in Defense Ground Support Equipment, reducing operational cost
3.8.1.4 Provides low maintenance cost and longer lifespan of an aircraft
3.8.2 Industry Pitfalls
3.8.2.1 Indigenous capabilities in new aircrafts, eliminating requirement of GSE
3.8.2.2 Long term contracts limiting market scope
3.9 Growth potential analysis, 2019
3.10 Porter’s analysis
3.11 PESTLE analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/defense-ground-support-equipment-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.