North America Airport Ground Support Equipment Market Research Report Forecast to 2027
Market Overview
Airport ground support equipment (GSE) is support equipment found at the airside and airport terminals for additional passenger or aircraft support. This also benefits the aircraft maintenance and service between flight stoppages. Of late, rising investments by countries in airport infrastructure has led to an increase in the demand for airport GSE. As a result, higher investments are being made in the development of GSE, which would witness rapid growth during the forecast period.
The global airport ground support equipment market is expected to register a 5.83% CAGR during the forecast period, 2021 to 2027. In 2020, the market was dominated by North America with a 33.32% share, followed by Asia-Pacific and Europe with shares of 23.73% and 28.18%, respectively.
The growth of the North America airport ground support equipment market is expected to be driven by factors such as a rise in airport operations & proliferation of airport infrastructure and the increasing preference for modern electric ground support equipment. However, the inadequate charging infrastructure for electric ground support equipment is expected to restrict the market growth in the region. On the other hand, the integration of Li-ion batteries into electric ground support equipment poses lucrative opportunities for airport ground support equipment vendors.
Market Segmentation
Based on type, the North America airport ground support equipment market has been segmented into fixed and mobile. Based on the power source, the North America airport ground support equipment market has been segmented into hybrid, electric, and non-electric. Based on equipment, the North America airport ground support equipment market has been segmented into assembly tool and movement equipment.
Based on application, the North America airport ground support equipment market has been segmented into aircraft handling, cargo handling, and passenger handling. Based on end user, the North America airport ground support equipment market has been segmented into commercial airports and military airports.
Regional Analysis
Based on country, the North America airport ground support equipment market has been segmented into the US, Canada, and Mexico. The US accounted for the largest market share of 86.43% in 2020 and is anticipated to reach USD 3,848.90 million by 2027, registering a CAGR of 4.72% during the forecast period. The country accounted for the major share of the market due to the rapid rise in airport operations and the presence of major regional players in the country. Canada accounts for the second-largest market, followed by Canada. Moreover, the Mexico airport ground support equipment market has grown significantly due to the rapid aviation growth and proliferation of airport infrastructure in the country. Canada airport ground support equipment market is expected to register a significant market growth during the review period due to rising preference for modern ground support equipment and increasing operations of Canadian airlines.
Major Players
The key players of North America Airport Ground Support Equipment Market are JBT Corporation, TLD, Texton Ground Support Equipment Inc, Tron air Inc, Mallaghan Engineering Limited etc.
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Companies Mentioned
JBT Corporation
TLD
Texton Ground Support Equipment Inc
Tron air Inc
Mallaghan Engineering Limited etc.
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