Aircraft Ground Support Equipment Market: Overview
The aircraft ground support equipment market may churn steady growth across the forecast period of 2019-2028 due to operational advantages like low turnaround time, increased accuracy, and improved speed efficiency. Most airlines have their own aircraft ground support equipment but many of them prefer to rent the aircraft ground support equipment from third party vendors. According to the International Air Transport Association (IATA), more than half of the airlines rely on outsourcing aircraft ground support equipment from third party vendors.
The use of aircraft ground support equipment in various applications such as aircraft refueling, fuselage, engine examination, potable water storage, and cargo loading and unloading are helping to garner substantial growth for the aircraft ground support equipment market.
Aircraft ground support equipment acquires an important place in the aircraft industry as it increases the reliability of aircraft. From pushbacks to belt loaders, each type of aircraft ground support equipment has its capability and all work in tandem to provide a good aircraft experience for consumers. Hence, these factors may benefit the aircraft ground support equipment market largely.
This upcoming report on the aircraft ground support equipment market provides an in-depth analysis of the current market situation. The report covers components like competitive landscape, key players, regional analysis, and ongoing trends. The report also offers thorough research on how the COVID-19 pandemic will impact the market. The segmental study enables an individual to thoroughly understand the different aspects of the aircraft ground support equipment market systematically.
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Aircraft Ground Support Equipment Market: Competitive Analysis
Numerous growth strategies adopted by key players of aircraft ground support equipment market such as joint ventures, partnerships, collaborations, mergers, and acquisitions are proving to be growth generators for the aircraft ground support equipment market.
Key players in the aircraft ground support equipment market are Tug Technologies Corporation, JBT Corporation, Mallaghan, Guangtai, Tronair, Cavotec, and MulagFahrzeugwerk.
Aircraft Ground Support Equipment Market: Key Trends
Renovations and enhancements in existing airports and the addition of new airports are bringing good growth opportunities for the aircraft ground support equipment market. The rapid increase in the production of new aircraft and the need for advanced ground handling facilities are proving to be rime factors for the aircraft ground support equipment market.
The COVID-19 outbreak has massively affected the aircraft ground support equipment market. As the pandemic started casting its horrific shadow on various countries, an immediate air travel ban was in place to avoid increased transmission. This unavoidable situation has brought the growth of the aircraft ground support equipment market to a screeching halt. With no operations at the once busy airports across the world, the demand in aircraft ground support equipment markethas waned. A ray of hope is visible to retain the growth of the aircraft ground support equipment market as lockdown restrictions are being eased around the world and travel restrictions may be lifted soon.
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Aircraft Ground Support Equipment Market: Regional Outlook
The aircraft ground support equipment market is geographically spread across North America, Asia Pacific, the Middle East and Africa, Asia Pacific, and Europe. Barring the lockdown period, North America may witness a significant rise in the growth rate across the forecast period due to the large presence of airports in the region.
Asia Pacific may bag the title of the fastest emerging region for increasing the growth rate of the aircraft ground support equipment market due to various government incentives and policies to boost the civil aviation sector. Domestic flights have resumed services in India and slowly, the aircraft ground support equipment may gain traction in the region. Economic packages from countries across the world for the aviation industry may help in reviving the sector, eventually gaining considerable momentum for the growth of the aircraft ground support equipment market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.