Dublin, April 24, 2019 (GLOBE NEWSWIRE) -- The "Ground Support Equipment Market by Type (Mobile Gse, Fixed Gse) , Power Source (Non-Electric, Electric, Hybrid), Application (Commercial, Military), Component (New, Replacement, Maintenance), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The ground support equipment market is projected to grow from USD 7.5 billion in 2019 to USD 9.7 billion by 2025, at a CAGR of 4.45% from 2019 to 2025.

Some of the factors that are expected to fuel the growth of the ground support equipment market are rising demand for electric ground support equipment, increasing warehouse operations at airports, and ongoing expansions of airports to cater to the rising global air passenger traffic.

"The mobile GSE segment is estimated to account for a larger share of the ground support equipment market in 2019 as compared to the fixed GSE segment."

Based on type, the mobile GSE segment is estimated to account for the largest share of the ground support equipment market in 2019. The growth of this segment can be attributed to the increased adoption of electric ground support equipment such as cargo/container loaders, pushback tractors, forklifts, container pallet transporters, baggage tractors, bulk loaders/conveyors, cabin service vehicles, boarding stairs, lavatory vehicles, passenger buses, deicers, aircraft fueling trucks, mobile ground power units, and mobile pre-conditioned air units at airports.

"The non-electric segment is expected to lead the ground support equipment market in 2019."

Based on power source, the non-electric segment is estimated to account for the largest share of the ground support equipment market in 2019. Non-electric ground support equipment are the most widely used equipment at airports of developed economies such as the US, Canada, Germany, the UK, and the Netherlands. These equipment use conventional energy sources such as diesel, Compressed Natural Gas (CNG), and gasoline for their operations.

"The commercial segment is expected to lead the ground support equipment market in 2019."

Based on application, the commercial segment is estimated to account for a larger share of the ground support equipment market as compared to the military segment in 2019. Increase in the number of air passengers, aircraft, and freight movements is expected to propel the growth of the commercial segment of the ground support equipment market. Moreover, the rising adoption of the green airport concept in commercial airports is fueling the demand for electric and hybrid ground support equipment across the globe.

"The equipment segment is estimated to account for a larger share of the ground support equipment market as compared to the maintenance segment in 2019."

Based on component, the equipment segment is estimated to lead the ground support equipment market in 2019. Increased demand for new ground support equipment at brownfield airports such as the Tacoma Airport, the Helsinki Airport, and the Aberdeen International Airport among others is expected to fuel the growth of this segment of the market across the globe.

"The North American region is estimated to account for the largest share of the ground support equipment market in 2019."

The North American region is expected to lead the ground support equipment market in 2019. The market in the region is highly competitive, owing to the presence of a large number of Original Component Manufacturers (OCMs) and Original Equipment Manufacturers (OEMs) such as TUG Technologies and Gate GSE. Ongoing modernization programs of existing airports in the US are also expected to drive the growth of the North America ground support equipment market during the forecast period.

Major players operating in the ground support equipment market are JBT Corporation (US), Teleflex Lionel-Dupont (TLD) (France), Mallaghan (UK), Tug Technologies Corporation (Textron GSE) (US), Tronair (US), MULAG Fahrzeugwerk (Germany), Guangtai (China), Rheinmetall AG (Germany), ITW GSE (Denmark), and Cavotec (Switzerland), among others.

Market Dynamics

Drivers

• Expansion and Development of Airport Infrastructures Due to Rising Global Air Passenger Traffic
• Increased Use of Electric Ground Support Equipment
• Development of Quick Charge and Durable Lithium-Ion Batteries for Use in Electric Ground Support Equipment
• Increase in Warehouse Operations at Airports

Restraints

• Inadequate Charging Infrastructure for Electric Ground Support Equipment
• High Acquisition Costs of Electric Ground Support Equipment

Opportunities

• Increased Demand for Charging Stations Due to the Adoption of Electric Ground Support Equipment at Airports
• Innovations in Technologies Used in Ground Support Equipment
• Automation of Ground Support Equipment

Challenges

• Overloading of Electric Grids
• Battery Charging Issues in Cold Weather

Companies Mentioned

• 247GT Ltd.
• Advanced Charging Technologies
• Aviramp Ltd.
• Cavotec Sa
• Charlatte America
• Cobus Industries GmbH
• Curtis Instruments, Inc.
• Enersys
• Exide Technologies
• Gate GSE
• Guangtai
• ITW GSE
• JBT Corporation
• Kalmar Motor
• Kit Aero
• Mallaghan
• Merlinhawk Aerospace
• Minit-Charger
• Mobile GSE
• Mototok
• Mulag Fahrzeugwerk
• Multi-Mover
• Rheinmetall AG
• Stangco Industrial Equipment, Inc.
• Telemeter Electronic GmbH
• TLD
• Tronair
• Tug Technologies Corporation

For more information about this report visit https://www.researchandmarkets.com/r/dh7tiy

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Related Topics: Airports and Air Traffic Control