Newark, NJ, Feb. 20, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global airport stands equipment market is expected to grow from USD 1.01 billion in 2017 to USD 2.01 billion by 2025 at a CAGR of 9.1% during the forecast period from 2018-2025. The demand for airport stand equipment has been increased in the recent years, due to rise in air trips worldwide. For instance, as per the statistics revealed by International Air Transport Association (IATA), the total number of air trips have witnessed a considerable increment of nearly seven per cent during the time period of 2016-2017. These equipments increase the work efficiency in limited time and reduce the human efforts which helps in the elimination of inconvenience to the passengers and staff on a daily basis.
Airport stand equipment are defined as the tools and equipment used on the aircraft ramp during the arrival and departure of flights so as to provide smooth and efficient operation of flights and adequate safety and comfort for airport staff and passengers. They are in-built stands used on the aircraft ramp to ensure free and efficient operation. The airport stands equipment includes aircraft mobility, ground power operations, and cargo or passenger loading/unloading operations.
Global airport stands equipment market is expected to witness rapid growth over the forecast period, owing to increase in the tourism industry which in turn increases the global freight and passenger traffic. In addition to this, rising need of new aircrafts is estimated to drive the airport stands equipment market during the forecast period. Furthermore, technological upgradation and modernization of airports and growing need for smooth and efficient functioning at airports are another key drivers aiding the growth of this market. Moreover, growth in greenfield and brownfield airport projects is expected to provide numerous opportunities for this market and may boost the market in coming years. However, high operating cost and optimization of functions during peak hours, is anticipated to hinder the market growth, over the forecast period.
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Key players operating in the global airport stands equipment market include TUG Technologies Corporation, Cavotec SA, JBT Aerotech, ThyssenKrupp Airport Systems, Inc., ShinMaywa Industries Ltd., Safegate Group, FMT Airport Systems, Adelte Group, Aerospace Specialties, Inc., and Omega Aviation Inc. among others. To enhance their market position in the global airport stands equipment market, the key players are now focusing on adopting the strategies such as recent developments, mergers & acquisitions, product innovation, joint venture, collaborations, and partnership. Major players are continuously focused on new product developments and venture capital investments to obtain market share.
- For instance, In January 2015, Champion GSE, an industry-leading producer of stronghold engine stands, containers and affiliated ground support equipment, partnered with Singapore Aerospace and Aviation Services Pte Ltd (SAAS), an aircraft ground support equipment (GSE) and services provider headquartered in Singapore to extend our sales, training and after-purchase support to those in the Southeast Asia region.
- In the year 2015, JBT Corporation announced that its JBT AeroTech business has been awarded a contract valued in excess of USD 5 million for the supply of gate equipment to O.R. Tambo International Airport in Johannesburg, South Africa.
- In September 2019, ADELTE, an engineering group and the world’s leading specialist in the design and manufacture of airport and seaport passenger boarding bridges, relaunched its revamped Passenger Boarding Bridge (PBB) docking simulator Aeronaut.
The boarding bridges segment held the largest market share in 38.90% 2017
The equipment segment is classified into preconditioned air units (PCA), ground power units, boarding bridges, and others. The preconditioned air units (PCA) segment is further divided into movable preconditioned air unit and flexible preconditioned air unit. The boarding bridges segment held the largest market share in 38.90% 2017. Boarding bridges are one of the important components of airport ground systems, which helps in successful and safe passenger movements without any kind of exposure to the outer elements. They are being produced in a highly customised manner to meet out requirements depending upon the height, fuelling position and type of aircraft. Different types boarding bridges include, nose loader bridges, T-bridge, apron drive bridges, commuter bridges and many more. For instance, the DoKaSch trademark is the leader of modern air cargo ULD technology and provides the provision of services in a high-performance network of companies.
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Regional Segment Analysis of the Airport Stands Equipment Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia-Pacific region dominated the global airport stands equipment market and valued around USD 391.93 million in 2017. This is mainly due to the growth in China and India driven by the increase in passenger traffic and the number of airports. North America is anticipated to grow rapidly owing to renovation of old airports. As per the statistics revealed by U.S. Bureau of Transportation, both foreign airlines and U.S. airlines, serving the United States carried an all-time high of 965 million scheduled service passengers in 2017, which was 3.4 per cent more than 2016 figure. In addition to this, Middle East and Africa region, is anticipated to grow at health growth rate in the global airport stands equipment market, owing to increasing investment in developing new airports across the region.
About the report:
The global airport stands equipment market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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