In the dynamic realm of aviation, the airport ground support equipment (GSE) market is set to soar, forecasting an impressive growth of USD 1,630.63 million and a steady CAGR of 4.27% between 2023 and 2027. Key drivers propelling this ascent include the rapid construction and upgrades of airports, surging demand fueled by economic development, and a global tourism boom.
Economic strides in emerging economies like India, China, and Indonesia have catalyzed a surge in air passenger numbers, recording a remarkable 4% increase globally in 2019. The corresponding spike in tourism has led to substantial investments in airport construction and upgrades. As a vital component of efficient airport operations, the demand for airport GSE has witnessed a parallel surge, creating lucrative opportunities for market players.
When it comes to market trends, in response to the escalating demands for efficient, cost-effective ground-handling procedures, airports and airlines are increasingly turning to GSE pooling. This strategic shift tackles the issue of excess equipment crowding terminals, streamlining operations, and boosting overall airport efficiency. The growing popularity of GSE pooling, perfectly timed with the global rise in air traffic, positions it as a pivotal revenue driver in the forecast period
Airport Ground Support Equipment Market Report 2023-2027
Industry leaders like Rheinmetall AG, Textron Inc., and Vestergaard Co. are strategically positioning themselves in the competitive landscape through alliances, partnerships, and product innovations. As the airport GSE market takes flight, qualitative and quantitative analyses categorize vendors into dominant, leading, strong, tentative, and weak players, providing a comprehensive understanding of the competitive terrain.
Embark on the journey of airport GSE evolution with insights and analyses in Technavio's comprehensive report on the Airport Ground Support Equipment Market.
The cost pressure on airport GSE manufacturers are the major hindrance for market players
The airport ground support equipment market structure is fragmented in nature.
31% of airport ground support equipment market growth will develop from North America.
The market growth by the powered airport GSE segment will be significant during 2023-2027 owing to the increasing air traffic and cargo transportation activities worldwide.
