Report Code: A09763 | Pages: 165 | ||
Tables: 79 | Charts: 37 |
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The ASEAN ground support equipment market was valued at $674.17 million in 2018, and is projected to reach $1,192.21 million by 2027, registering a CAGR of 9.8% from 2020 to 2027.
COVID-19 virus has spread worldwide without acknowledging borders. It has impacted all industries, sectors, and aspects of lives with devastating economic & financial losses and significant uncertainties. The growth of the ground support equipment market is directly linked to the aviation industry, which was the first one to undergo complete shutdown as it became the carrier of coronavirus across borders, unknowingly.
Ground support equipment (GSE) is designed to support the operations of an aircraft whilst it is at the airport. GSE comprises airplane push-back & hook-up, forklifts & lifts, carts, vehicles, air-conditioning tugs, belt & container loaders, light-duty trucks, and other equipment that serve the purpose of powering, towing, and servicing. Further, such equipment enable passenger handling, baggage handling, aircraft mobility, repair, service, and maintenance functions. Many airlines either own/ maintain GSE or possess full service leasing from equipment management companies.
The major companies profiled in the ASEAN ground support equipment market include Adelte Group S.L, Avia Equipment Pte Ltd, Cavotec SA, Guangta, IMAI Aero-Equipment MFG. CO. LTD., ITW GSE, JBT Corporation, Textron Ground Support Equipment INC, TLD, and Tronair.
The ASEAN ground support equipment market is segmented into equipment type, type, power source and ASEAN countries. By equipment type, it is segmented into container pallet loader (7T), conveyor belt loader, tugs & tractors, dollies, and others. Further, by type, it is divided into motorized and non-motorized. Based on power source it is segmented into electric, non-electric, and hybrid.
Geographically, the market is analyzed across ASEAN countries, which include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, The Philippines, Singapore, Thailand, and Vietnam.
The significant factors impacting the growth of the ASEAN ground support equipment market include increase in air traffic and cargo, rise in focus of airports on enhancing operational efficiency, high service standards, and leasing of ground support equipment. Further, high initial investments, surge in focus toward procurement of greener GSE, outsourcing of maintenance, repair, and overhaul (MRO) to third party, and rise in use of wireless technology have strong impact on the market.
Significant increase in the number of air passengers and cargo transportation has been witnessed across the globe. In addition, this growth is projected to continue over the forecast period due to increased tourist locations across ASEAN countries, which is anticipated to increase the adoption of advanced GSE by ASEAN airports. For instance, according to the International Air Transport Association (IATA), 52.2 million metric tons of cargo was transported in 2015, and was predicted to increase at a CAGR of 4.1% over the next 5 years. In addition, as per IATA’s 20-year air passenger forecast, the number of air travelers could double to 8.2 billion by the end of 2037. This, in turn, is expected to drive the growth of the market. Thus, surge in the number of passengers as well as cargo has augmented the demand for ground support equipment in the ASEAN aviation industry.
Airports are making large and significant improvements to increase their operating efficiency and decrease turnaround time. The emergence of underground GSE has helped enhance the speed of operations and reduce the congestion of equipment on airports. Various tools are being developed to improve the overall operational efficiency. For instance, airports in Latin America and the Caribbean are using Collaborative Decision Making (CDM) tool for their operational efficiency since June 2019. Airport-CDM increases the predictability of operating by improving the quality of planning and increasing the situational awareness, which is based on real-time information exchange.
The benefit of enhancing operational efficiency is that it helps in the reduction of operational cost and increases profit. Therefore, it is important for airport authorities to have competent ground support equipment. This drives the growth of the market.
Airport authorities can outsource maintenance, repair, & overhaul of GSE (expenditure of 13% to 15% of the total revenue according to an India Brand Equity Foundation (IBEF) report) so that they can focus on key business strategies. It is anticipated to increase the speed and improve the quality of service delivery. This, in turn, is opportunistic for the market expansion.
High performance standards consist of high on-time performance by airlines and offering professional services to customers, which include proper customer handling from check-in to boarding. Therefore, many airports have taken the initiative of having high service standards by deploying motorized and non-motorized service equipment such as carts, towable passenger stairs, belt loaders, and refuelers.
COVID-19 impact analysis
Key Benefits For Stakeholders
ASEAN Ground Support Equipment Market Report Highlights
Aspects | Details |
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By Equipment Type |
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By Type |
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By Power Source |
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By Country |
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Key Market Players | GUANGTAI, ADELTE GROUP S.L., CAVOTEC SA, ITW GSE, TEXTRON GROUND SUPPORT EQUIPMENT INC., TLD, IMAI AERO-EQUIPMENT MFG. CO., LTD., AVIA EQUIPMENT PTE LTD, TRONAIR, JBT CORPORATION |
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In accordance with insights by CXOs of leading companies, the ASEAN ground support equipment market is projected to witness moderate growth rate, owing to growth in population along with increase in disposable income. Companies in this industry are adopting various innovative techniques to provide customers with advanced and innovative feature offerings. According to them, the electrically powered vehicles segment possesses higher potential for growth in the ASEAN market and dominates the ASEAN market in 2018.
By type, the motorized segment witnessed highest growth rate during the forecast period, due to increase in automation worldwide. Based on the equipment type, the others segment holds a major market share in the ASEAN market. Meanwhile, the tugs & tractors segment is expected to grow significantly during the forecast period.
The market is consolidated by the presence of major key players such as Adelte Group S.L, Avia Equipment Pte Ltd, Cavotec SA, Guangta, IMAI Aero-Equipment MFG. CO. LTD., ITW GSE, JBT Corporation, Textron Ground Support Equipment INC, TLD, and Tronair. These players have adopted efficient techniques to develop innovative offerings. Vietnam is expected to witness the highest growth during the forecast period, due to lucrative opportunities offered by the government.
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