Global Aircraft Ground Support & Hangar Equipment Market Research Report: Forecast (2023-2028)
Aircraft ground support and hangar equipment include a wide range of tools, vehicles, and machinery required to support aircraft operations on the ground and facilitate maintenance & servicing activities within hangars. These types of equipment are crucial for ensuring the efficient & safe functioning of airports, airlines, & aircraft maintenance facilities.
Market Insights & Analysis: Global Aircraft Ground Support & Hangar Equipment Market (2023-28)
The Global Aircraft Ground Support & Hangar Equipment Market is anticipated to grow at a CAGR of around 4.6% during the forecast period, i.e., 2023-28. The growth of the market would be propelled mainly by the flourishing aviation industry, backed by the rapidly rising number of air passengers worldwide and, subsequently, the increasing aircraft fleet. With the increasing number of aircraft, the need to ensure their safety & storage is also rising, i.e., leading to the burgeoning production of GSE (ground support equipment) & hangars.
Moreover, with substantial funding from government authorities, the Aircraft Support Industries (ASI) is likely to enthrall in the coming years. Europe, Asia-Pacific, the Middle East & Africa are witnessing the rapidly increasing number of air passengers, i.e., creating the need for new airports and, consequently GSE & hangars. Airport authorities in countries like India, Vietnam, China, etc., are strengthening their air passenger handling capacities by expanding runways, developing new airports, enhancing aircraft fleet sizes, etc., thereby pushing further production of hangars & other equipment. For instance:
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Regions Covered||North America: US, Canada, Mexico|
|Europe: Germany, The UK, France, Russia, Spain, Italy, Rest of Europe|
|Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific|
|South America: Brazil, Rest of South America|
|Middle East & Africa: UAE, Saudi Arabia, Israel, Turkey Rest of MEA|
|Key Companies Profiled||JBT AeroTech, All Metal Maintenance Stands, Tronair, Semmco Limited, Wilcox Bodies Ltd., TLD Group, Textron GSE, Safe Structure Designs, LLC, Fast Global Solutions, Mallaghan, MULAG, Global Ground Support, Toyota Industries Corp, DOLL, Guangtai Airports Equipment, Shenzhen TECHKING, Sagar Asia , AERO Specialties, Inc., CTI Systems S.à r.l., SafeSmart Aviation|
|Unit Denominations||USD Million/Billion|
Furthermore, the growth in e-commerce, global trade, & logistics has surged the demand for air cargo transportation, catering to which airlines are expanding their cargo fleets or converting passenger aircraft into freighters, thereby instigating the need for specialized ground support & hangar equipment tailored for cargo operations.
Cargo aircraft require specific GSE, such as cargo loaders, pallet dollies, ULD (Unit Load Device) transporters, and specialized cargo handling systems, which can handle the unique needs of cargo loading & unloading and ensure efficient cargo operations on the ground. Hence, the rapidly rising cargo transportation worldwide is another prominent aspect set to drive the Global Aircraft Ground Support & Hangar Equipment Market over the coming years.
Global Aircraft Ground Support & Hangar Equipment Market Key Drivers:
Ever-Increasing Airport Expansion Activities Worldwide - With the rapid downpour of air passengers worldwide and the urge to connect tourist destinations, there are ever-increasing construction activities associated with new airports & expansions across different regions. In view of this, airlines are also expanding their fleets, adding new routes, & operating more flights. Consequently, it is instigating the demand for new GSE & hangars to sustain the aircraft fleet for maintenance, repair, & overhaul (MRO) purposes and driving the Global Aircraft Ground Support & Hangar Equipment Market.
Global Aircraft Ground Support & Hangar Equipment Market Possible Restraint:
Lack of Adequate Charging Infrastructure for Electric GSE - The shift from conventional diesel GSE to electric ones has increased the demand for charging facilities at airports. However, since the infrastructure for deploying electric GSE is still limited, there's a growing need for airports to develop special charging stations and multiple port chargers in parking bays as well as at the aprons & gates of airports, and these infrastructural modifications require mega capital investments. Even with government funding & incentives, airports find it expensive to make these changes.
Hence, the increased demand for charging facilities in large numbers at airports to charge baggage tractors, pushback tractors, passenger buses, & forklifts, among other equipment, and the inadequate charging infrastructure are restraining the fledged growth of the Global Aircraft Ground Support & Hangar Equipment Market.
Global Aircraft Ground Support & Hangar Equipment Market Key Trends:
Rising Popularity of Inflatable Hangars in Developing Countries - Inflatable hangars have gained traction in recent years predominantly due to their ability to get built in a shorter time compared to traditionally constructed aircraft barracks, coupled with their lesser installation costs. The solidifying airport initiatives in developing countries are amplifying the demand for such advanced aircraft barracks, which are sustainable and can withstand adverse weather conditions.
The integration of inflatable technology and technical textiles has paved the way for the utilization of inflatable hangars in all kinds of aircraft like commercial, military, drones, private jets, & general aviation aircraft. This trend is creating new directions for the Global Aircraft Ground Support & Hangar Equipment Market to expand notably in the coming years.
Global Aircraft Ground Support & Hangar Equipment Market (2023-28): Segmentation Analysis
Global Aircraft Ground Support & Hangar Equipment Market report by Markntel Advisors includes segmentation analysis based on Aircraft Type, and Equipment Type. This breakdown allows businesses to identify specific market segments and tailor their marketing and product strategies accordingly, maximizing their chances of success in the Global Aircraft Ground Support & Hangar Equipment Market.
Based on Aircraft Type:
Of both, the commercial aircraft holds a stronger position in the Global Aircraft Ground Support & Hangar Equipment Market, primarily due to the larger number of aircraft and more extensive operations involved in commercial aviation. Commercial airlines operate large fleets of aircraft to cater to millions of passengers worldwide and thus require a wide range of ground support & hangar equipment, such as tugs/tow tractors, GPUs (Ground Power Units), baggage carts, cargo loaders, & jet bridges, among others, to facilitate various operations like aircraft maintenance, repair, & servicing effectively.
Numerous ongoing airport expansion projects, growing fleet size, and the evolving need to ensure efficient & safe operations are all contributing to the market growth in the commercial aviation segment. Moreover, the boom in global tourism has infused the demand for more advanced aviation setups, owing to which many countries worldwide are massively investing in airport infrastructure, including GSE, to cater to the increasing number of passengers, thereby spurring growth in the Global Aircraft Ground Support & Hangar Equipment Market.
Based on Equipment Type:
Here, tugs & tractors hold a prominent market share. They are essential for efficiently moving aircraft on the ground and are used for various operations, including pushing back aircraft from the gate, towing them to the runway, and repositioning them within the airport. Tugs/tow tractors are equipped with several features, such as precise steering control, powerful engines, & braking systems, which ensure safe handling of aircraft movement and towing operations. By improving maneuverability & control, tugs/tow tractors help prevent accidents, reduce the risk of damage to aircraft & ground personnel, and enhance overall safety in airport operations.
In addition, they provide a reliable & efficient means of aircraft movement, which help enhance operational efficiency, reduce turnaround times, and promote overall airport productivity. Hence, the rising air traffic entwined with the ever-increasing focus on safety & efficiency would continue to augment the demand for tugs/tow tractors and, in turn, fuel the growth of the Global Aircraft Ground Support & Hangar Equipment Market over the coming years.
Global Aircraft Ground Support & Hangar Equipment Market Regional Projection
Of all regions globally, North America holds a sizable share of the Aircraft Ground Support & Hangar Equipment Market, and the same trend is likely during 2023-28. It owes to its large aviation industry, the significant presence of major airlines & aircraft manufacturers, and massive government investments in airport expansion activities.
Moreover, the growing number of commercial aircraft orders, particularly in the US & Canada, coupled with the mounting demand for electric & hybrid GSE due to the ever-increasing pressure on airport authorities and GSE manufacturers to reduce carbon emissions, are other prominent aspects fueling the regional market growth.
In addition, the mounting need for relocatable & energy-efficient fabric aircraft hangars, the modernization of aircraft fleets & airports, and the surge in commercial aviation & aircraft fleet are elevating the demand for fixed-installed aircraft hangars, thereby creating lucrative prospects for the North America Aircraft Ground Support & Hangar Equipment Market.
Global Aircraft Ground Support & Hangar Equipment Industry Recent Developments
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Frequently Asked Questions
A. The Aircraft Ground Support & Hangar Equipment Market is forecast to grow at a CAGR of around 4.6% during 2023-28.
A. The rise in airport expansion activities worldwide to cater to the rapidly increasing number of air passengers is the key factor expected to drive the Aircraft Ground Support & Hangar Equipment Market during 2023-28.
A. JBT AeroTech, All Metal Maintenance Stands, Tronair, Semmco Limited, Wilcox Bodies Ltd., TLD Group, Textron GSE, Safe Structure Designs, LLC, Fast Solutions, Mallaghan, MULAG, Ground Support, Toyota Industries Corp, DOLL, Guangtai Airports Equipment, Shenzhen TECHKING, Sagar Asia, AERO Specialties, Inc., CTI Systems S.à r.l., and SafeSmart Aviation are the key players operating in the Aircraft Ground Support & Hangar Equipment Market.
A. The lack of adequate charging infrastructure for electric GSE might hamper the growth of the Aircraft Ground Support & Hangar Equipment Market through 2028.
A. Commercial aircraft would create lucrative prospects for the leading participants in the Aircraft Ground Support & Hangar Equipment Market through 2028.
A. North America would continue providing profitable opportunities to the Aircraft Ground Support & Hangar Equipment Market over the forecast years.
Global Aircraft Ground Support & Hangar Equipment Market Research Report (2023-2028) - Table of Contents