The expected CAGR for the global ground service equipment market is 10.21% for the forecast period of 2019-2027. These equipments are used for servicing and maintenance of an aircraft. They are also used for reducing the turnaround time and to increase efficiency and speed.
Import and export activities around the globe, along with the rise in air traffic and cargo are the primary drivers for ground support equipment market. The ground support equipment market is segmented on the basis of type, end user, component and application. Among these, the market by component is the dominant market as it generates maximum revenue. The market is further divided into equipment (Greenfield & Brownfield) and MRO.
The global market for ground support equipment is geographically segregated into Europe, North America, Asia-Pacific and the rest of the world. The North American market is the largest market for GSE in terms of global market share and revenue. The success of the North American market is due to the presence of many prominent market players in the region.
Prominent market players in the North American ground support equipment market are Cavotec SA, Clyde Machines Inc, Alberth Aviation Ltd., Fast Global Solutions Inc, Avia Equipment Pte Ltd and Bgse Group Llc.