GSE Market by type, the powered GSE segment dominated the global ground support equipment market in 2019, in terms of revenue.
PORTAND, OR, UNITED STATES, September 16, 2020 /EINPresswire.com/ — According to a report by Allied Market Research, the global ground support equipment market is expected to reach $22.0 billion, supported with a CAGR of 6.7% by 2027. The rising focus of airports on improving operations efficiency and leasing of ground supporting equipment has further pushed the growth of the market. Moreover, with increased focus regarding the procurement of greener GSE, and the rising use of wireless technology, the market would assemble a number of opportunities. On the other hand, with the subcontracting of maintenance, repair, and renovation by the service providers and activities based on developments by the key market players, the global market is expected to garner multiple opportunities and grow exponentially.
Developments and expansions are the basic keys supporting market growth. These activities and developments are leading the market to expand further. The growth of the aviation industry has supported the growth of the ground support equipment market as well. The ground support equipment market is majorly driven by the rise in air-traffic and cargo, surge in terminal expansions & modernization, and the increase in the number of passengers and the number of aircraft deliveries all across the world.
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Coupling up time with connectivity matters in every field. And when it is about an airline, it is required to be precise. No denial, airline operations are always complex with hundreds of moving parts working in combination. However, the aviation industry has been through a span of continuous development of ground support equipment in the past few years.
The ground support equipment is usually found at an airport to manage and service the aircraft between flights. It aims to maintain and support the maneuvers of the aircraft before taking off and after landing safely. Ground support equipment generally involves a variety of applications including aircraft handling and mobility, passenger handling and loading operations, cargo handling, and ground power operations.
All these applications aim variedly. Aircraft handling deals with ground power units, fuel, and hydrant trucks, and pre-conditioned air units. Whereas cabin service vehicles, boarding stairs, lavatory service vehicles, loaders, and passenger buses are part of passenger handling. On the other hand, cargo handling approaches to pushback tractors, forklifts, and container loaders. Furthermore, refuelers, ground power equipment, portable water truck, generator, and other such services are considered underpowered equipment. Moreover, trestles, baggage carts, intake exhaust cover, oil and air carts, sling cables, and aircraft jacks are all non-powered ground support equipment.
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Mostly, ground support equipment and handling services are offered by the airline, however, various airlines follow the option of third party contractors. Though many of the airlines, based on cost-effectiveness, still have employees for most ground handling functions. However, nowadays, many airlines contract out a majority of their ground handling services. Moreover, various ground support equipment and service providers have offered easier ways for managing and supporting the chores. On the other hand, the majority of airlines are investing in companies for ground support equipment services. The higher adoption of these services by the majority of airlines is leading the market and companies to expand more.
The companies are getting awarded by huge contracts. Recently, a leading ground equipment solution provider, Cavotec won two orders for major ground support equipment and fueling from Airports in China. The two airports involve Chengdu Tianfu International Airport and Beijing Capital International Airport. Furthermore, the company would be providing a range of electrical power connection and fueling systems comprising of boarding bridge cable coilers, valve access covers, 400Hz aircraft connectors, and 400Hz output power cables. On the other hand, the other order supply for Beijing Capital International Airport involves 400Hz connectors and service cables, 100 coilers units for three terminals at the airport, along with a service package for commissioning and fixing the equipment.
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Other than offering the best services to the airlines, companies are also evolving their service sites. Recently, a US-based aviation service provider prime flight aviation services have acquired an aircraft refueling equipment supplier ProFlo industries along with the majority stake. Furthermore, the move aims to stretch out the company’s offerings in the area of ground support equipment. Additionally, the company’s acquisition is followed by its earlier acquisition of ground support equipment maintenance subsidiary, Global Aviation Services, based in Eagan.
The president and CEO of Prime Flight Aviation services stated that by adding the ProFlo team with their ground support equipment maintenance division, the company would be able to maintain the portfolio of refueling equipment, which could strengthen the growth of their existing operations. He further added that the company would support the ProFlo team’s proficiency to carry on the growth of the ground service equipment maintenance division of the company.
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