Latest News - Aircraft Ground Support Equipment Market: Passenger aircraft is expected to lead the Application segment during 2024-2028

The Aircraft Ground Support Equipment Market is being driven by Rise in construction of airports

The Aircraft Ground Support Equipment Market is expected to grow at a CAGR of 6.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1662.3 million. In the context of the Aircraft Ground Support Equipment (AGSE) market, smart airports represent a significant opportunity for innovation and growth. Leveraging the IATA and ACI's vision, AGSE providers can integrate their equipment into the digital grid of smart airports. This enables real-time data sharing, cross-functional collaborations, and improved operational efficiency. Ultimately, AGSE becomes an integral part of the seamless passenger experience, enhancing profitability for all aviation stakeholders. Smart airport terminals, built on a converged IP platform, facilitate high-speed broadband traffic, ensuring AGSEs are always connected and ready to support aircraft turnaround processes. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Passenger aircraft
  • Cargo aircraft
  • Military aircraft
• Type
  • Powered ground support equipment
  • Non-powered ground support equipment
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • Germany
    • Russia
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in construction of airports
• Preference for establishing dedicated cargo terminals
• Advancements in aircraft ground support equipment

However, the market also witnesses some limitations, which are as follows:

• High initial and replacement cost of ground support equipment
• Increasing number of ground handling accidents
• Increasing preference for refurbished ground support equipment

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Market Scope in Aircraft Ground Support Equipment Market Research Report

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Research Analysis Overview

In the dynamic realm of air travel and aviation industry, the significance of Airport infrastructure continues to expand. A crucial component of this infrastructure is Aircraft Ground Support Equipment (GSE), which plays a vital role in servicing aircraft during airline turnaround time. Telematics and autonomous systems are revolutionizing GSE operations, ensuring efficient and eco-friendly equipment utilization. Airport authorities oversee the rental services of these essential tools, catering to the demands of international air transport and tourism sectors. Advances in technology have led to the development of sustainable equipment, reducing the aviation industry's carbon footprint. GSE encompasses a wide range of machinery, from cargo handling equipment to aircraft maintenance tools. The defense sector also relies on these systems for military aircraft servicing. Passenger numbers and cargo transportation continue to soar, necessitating the need for a robust and technologically advanced GSE market. The market's growth is driven by the increasing air traffic and the constant pursuit of reducing turnaround time. The rental aircraft ground equipment segment is expected to witness significant growth due to its flexibility and cost-effectiveness. Aviation infrastructure's evolution is incomplete without the integration of advanced GSE systems.

Market Research Overview

The Aircraft Ground Support Equipment (AGSE) market is a segment of the broader capital goods industry, focusing on equipment and solutions used in the maintenance, repair, and overhaul (MRO) of commercial and military aircraft. This market encompasses various product categories, including power and ground power units, air conditioning equipment, de-icing systems, and test equipment. The AGSE market's size is determined by the combined revenue generated by manufacturers and providers catering to this sector within the capital goods industry. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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Website: www.technavio.com/