Dublin, June 04, 2024 (GLOBE NEWSWIRE) -- The "Global Ground Support Equipment Market by Platform (Commercial, Military), Point of Sale (Equipment, Maintenance), Type (Mobile, Fixed), Autonomy (Manned, Remotely Operated, Autonomous), Power Source, Ownership and Regions - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The Ground Support Equipment (GSE) market is poised for significant growth, projecting a rise from USD 6.1 billion in 2024 to USD 7.4 billion by the close of 2029, and marking a CAGR of 3.9% during this forecast period. In line with this financial surge, the market volume is expected to increase from 38,592 units in 2024 to 44,761 units in 2029, underpinning the expansion and vitality of this sector within the global aviation industry.
The commercial segment, by platform, is anticipated to maintain a dominant market share in 2024. This dominance correlates with the escalating demand for commercial aviation and associated requirements for swift and effective ground services, amplifying the necessity for ground support equipment. Commercial airports, facing immense pressures to optimize aircraft turnaround and luggage handling, are finding GSEs an indispensable component of operations.
Electric GSE Sector's Expected Ascendance
The electric segment of the GSE market, identified by its power source, is forecasted to experience the highest growth rate during the period. The operational cost savings coupled with enhanced energy efficiency positions electric GSE as a premier choice for cost-effective and sustainable operations in airports around the globe.
North American Market Leadership
The North American region is foreseen to maintain the highest market share in 2024, credited to robust economic growth, which bolsters air travel demand and consequently underpins substantial investments in airport infrastructure. North American airports benefit from a healthy economic backdrop to invest in the sustenance and modernization of GSE fleets.
Industry Participant Dynamics
The Ground Support Equipment market sees an eclectic mix of stakeholders, with primary players encompassing different tiers and designations, distributed across multiple geographic regions. These key participants play a role in shaping the competitive landscape and advancing the GSE domain.
Research Insights & Strategic Implications
An extensive segmentation of the market puts into perspective the various facets of the GSE industry, from types and autonomy levels to power sources and ownership structures. This granular analysis facilitates a deeper understanding of market dynamics and emerging trends. It also underscores the strategic rationale for stakeholders to foster market penetration, leverage product development, explore market diversification, and engage in competitive benchmarking.
The cumulative research insights provided offer a comprehensive analysis of the business environment and equip industry stakeholders with essential information aiding in informed decision-making and strategic planning. The trajectory of the Ground Support Equipment market signifies a pivotal role in the aviation sector's evolution, highlighting the interdependencies between market forces and industry developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 337 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $6.1 Billion |
| Forecasted Market Value (USD) by 2029 | $7.4 Billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
Companies Featured
- Oshkosh Corporation
- China International Marine Containers (Group) Ltd.
- Tcr Group
- Weihai Guangtai Airport Equipment Co. Limited
- Textron Specialized Vehicles
- Jungheinrich AG
- Tronair Inc.
- Tk Elevator
- Teleflex Lionel-Dupont (Tld)
- Itw Gse
- Toyota Material Handling, Inc.
- Rheinmetall AG
- Jalux Inc.
- Sinfonia Technology Co. Ltd.
- Mallaghan
- Dabico Airport Solutions
- Aviramp Ltd.
- Cobus Industries GmbH
- Adelte Group Sl
- Mulag Fahrzeugwerk
- Xcēd Gse
- Kit Aéro
- Wilcox Gse
- Agse
- Advanced Charging Technologies
For more information about this report visit https://www.researchandmarkets.com/r/z90gqg
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