Thereport "Ground SupportEquipment Market by Type (Mobile, Fixed), Power Source(Non-Electric, Electric, Hybrid), Platform (Commercial, Military), Point ofSale (Equipment, Maintenance Services), Mode of Operation, Region - Global Forecast to 2025", is projected to grow from USD 4.0 billion in2020 to USD 10.2 billion by 2025, at a CAGR of 20.7% from 2020 to 2025. The growth of the market across the globe can be attributed to 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.
Browse 353 market data Tables and 57 Figures spreadthrough 347 Pages and in-depth TOC on "Ground Support Equipment Market by Type (Mobile, Fixed), PowerSource (Non-Electric, Electric, Hybrid), Platform (Commercial, Military), Pointof Sale (Equipment, Maintenance Services), Mode of Operation, Region - Global Forecast to 2025"
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COVID-19impact on the Ground Support Equipment Market
TheCOVID-19 outbreak has idled much of the aviation business. Fleet readiness andmaintenance are of great importance to tackling the challenges posed by the pandemic.
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According to the Airport International Council (ACI) analysis, the impact of COVID-19 on the airport business will result in a 58.4% reduction in passenger volumes in 2020 compared to 2019. The airport industry is anticipating a 60% reduction in revenue as compared to the pre- COVID-19 projected baseline. The substantial decline in passenger and air traffic is expected to impact the demand for legacy equipment in the short term.
- Although orders were placed before the COVID-19 crisis, the delay in equipment deployment and installation will affect the equipment supplier business considerably. The spread of COVID- 19 in the US and EU is expected to have a negative impact due to lockdowns at manufacturing facilities. For instance, GSE manufacturer
- Vestergaard Company, based in Denmark,slowed down manufacturing post Easter 2020
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The suspension of commercial travel with lockdowns in major geographies such as Australia, the UK, India, Qatar, the UAE, etc., is expected to affect airport operations significantly. Ramp equipment operators are in a cash preservation mode, as a majority of them operate on a lease basis. Ground operators are, however, expected to pay ramp and office charges at airports. This is expected to have a negative impact in the short term. However, post the COVID-19 crisis, ground operators are expected to recover from the financial crisis once airports are operational at their full capacities.
- Major players in the ground support equipment market are JBT Corporation(US), Teleflex Lionel-Dupont (TLD) (France), Mallaghan (UK), Tug TechnologiesCorporation (Textron GSE) (US), Tronair (US), MULAG Fahrzeugwerk (Germany), Guangtai (China), Rheinmetall AG (Germany), ITW GSE (Denmark), and Cavotec SA (Switzerland). These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific and other regions.
