New York, USA, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global airport stands equipment market. According to the report, the global market is projected to surpass $1,732.5 million and grow at a CAGR of 5.5% in the estimated period, 2019–2026. This all-inclusive report delivers a comprehensive overview of the current and future situation of the airport stands equipment market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Factors Impacting the Airport Stands Equipment Market Growth
The key factor boosting the growth of the global airport stands equipment market is a significant rise in passenger traffic, which has compelled airport authorities to make large investments in expanding transportation and modernizing airport infrastructure to ensure the comfort and safety of airline passengers. Furthermore, a steady increase in the number of brownfield and greenfield airport projects worldwide as well as the modification or upgrading of existing airports in both developed and developing economies are estimated to unlock lucrative opportunities for market growth in the forecast period. However, the lack of a skilled workforce is anticipated to deter the market’s growth.
The report segments the global airport stands equipment market into product, and region.
Preconditioned Air Unit Sub-Segment to Grab a Foremost Share of the Market
The preconditioned air unit sub-segment of the product segment is foreseen to observe leading growth and garner $549.2 million by 2026. This growth is mainly owed to the initiatives taken by the airport authority to reduce carbon pollution.
Asia-Pacific Airport Stands Equipment Market to Perceive Maximum Growth
The report analyses the global airport stands equipment market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the Asia-Pacific market is projected to observe significant growth and hit $384.6 million by 2026. This growth is mostly owing to the presence of rapidly rising economies such as India, China, and South Korea, an increase in the number of air travelers, and the modernization of existing airports around the region.
Ask an Expert Analyst or Schedule a call to Get the Latest Trends on Airport Stands Equipment Market
Key Players of the Global Market
The report states some of the foremost players operating in the global airport stands equipment market including
- Airport Equipment
- JBT Corporation
- HDT Global
- Aero Specialties Inc.
- Cavotec SA
- Textron Inc.
- ThyssenKrupp AG
- ShinMaywa Industries Ltd.
- ADELTE Group S.L.
- FMT Aircraft Gate Support Systems AB
These players are taking various initiatives such as investing in novel product launches, strategic alliances, and collaborations, etc. to obtain a leading edge in the global market.
For instance, in April 2022, Skyway Aviation Handling Company Plc (SAHCO), a firm offering airport and aviation services in Nigeria, acquired additional electric ground support equipment, including ten electric conveyor belt loaders, to improve ground handling operations at all privately operated airports in the country.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Airport Stands Equipment Market:
- Boarding Bridges: An Airport Stands Equipment that Allows Passengers to Board Safely
- Global Airport Stands Equipment Market to Foresee Substantial Growth in the Upcoming Years
