Market Overview
Global Airport Ground Support Equipment Market Report containing details of the declares a possibility of attaining 12% CAGR during the forecast period of 2020 to 2023. Market Research Future (MRFR) notes several factors like increasing flight operations, rising demand for better passenger service, time and cost, the inclusion of top-graded technologies, and others as a major inspiration for the airport ground support equipment market growth. The increasing need for better cargo handling can also influence market growth.
However, the cost is an issue and it would prevent the airport ground support equipment market from growing in many developing countries.
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Competitive Landscape
JBT Corporation (U.S.), Teleflex Lionel-Dupont Group (France), Tronair Inc. (U.S.), Tug Technologies Corporation (U.S.), Gate GSE (Belgium), AMSS GSE (U.K), Mulag Fahrzeugwerk GmbH (Germany), Shenzhen Cimc-Tianda Airport Support Co. Ltd. (China), Mallaghan Engineering Ltd. (U.K), and Avia Equipment Pte Ltd (Singapore) are some of the prominent names involved in the global airport ground support equipment market. The strategic changes initiated by these companies have helped the market is evolving and in the coming days, that would be more striking. These steps often acknowledge changes made through mergers, acquisitions, and collaborations as they help in developing portfolios and in expansion. These companies are further making investments in the research and development sector to boost innovation, which will help in better branding and launching of products. MRFR’s recording of the latest moves is expected to help in a detailed assessment of the market in the coming days.
Industry News
In May 2020, Rushlift GSE announced that the company had won a contract worth USD 4.25 million to supply and maintain a 225-vehicle fleet for the Gatwick airport. The company has already made a name for itself as a specialist for airport ground support equipment. It is also a subsidiary of Doosan Industrial Vehicles UK. The contract has been signed with ASC Handling.
The recent outbreak of COVID-19 pandemic has led to certain changes in the airport management systems across the world. This increased the intake of several products to provide better facilities that would restrict the spreading of disease as well. As airports are opening up in different countries, the intake of such products is rising. This creates a better growth opportunity for the global airport ground support equipment market.
Segmentation
Global Airport Ground Support Equipment Market has been assessed by MRFR experts on the basis of a segmentation that includes equipment, type, application, and end user. These segments reveal various market dynamics to establish a proper premise that can boost the market outcome.
By equipment type, the global market has been segmented into electric, non-electric, and hybrid. The hybrid segment has significant market takers.
By application, the global market study on the airport ground support equipment has been segmented into aircraft handling, passenger handling, and cargo handling. Better service to support the rising passenger number would boost the passenger handling segment.
By end user, the global market includes segments like defense and commercial. The rise in the defense budget would boost the former segment. However, the growing number of commercial passengers would help the commercial segment grow. In addition, the rising number of commercial flight operators would help the process.
Regional Analysis
Global Airport Ground Support Equipment Market for would be backed by North America. The region will benefit from better infrastructure and investment capacity, owing to which a constant influx of technologies will happen. This market will get tailwinds from the US and Canada.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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