Global Airport Ground Support Vehicles Market, Forecast to 2024 - Tugs & Tractors to Experience the Highest Growth During the Forecast Period - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 2, 2019--
The “Airport Ground Support Vehicles Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The airport ground support vehicles market is anticipated to grow at a CAGR of over 7% during the forecast period.
Tugs & Tractors to Experience the Highest Growth During the Forecast Period
Tugs & Tractors segment of the market is expected to grow at the highest CAGR during the forecast period. The increasing demand for greener airports is propelling the development and integration of low emissions and electric tugs and tractors. New battery-powered tugs are being developed to replace the traditional fuel-powered tractors and tugs. This replacement is anticipated to drive the growth of the segment during the forecast period.
Earlier British Airways became the first airline to use Mototoks, remote-controlled tug devices, to push back short-haul aircraft in 2017. The airline also planned to explore the possibility of its usage for its larger long-haul aircraft. Such low emission initiatives (by airlines and airport operators) fuelled by investments into the electrification of airport ground support vehicles are expected to support the growth of the segment during the forecast period.
Asia-Pacific is Expected to Generate the Highest Demand During the Forecast Period
Asia Pacific region is expected to generate the highest demand for airport ground support vehicles market during the forecast period. Over the past decade, Asia’s rapid growth in the commercial aviation sector has positioned the region as the largest and fastest-growing in the world. The region is expected to register the highest growth rate in terms of air passenger traffic.
However, aviation infrastructure is not keeping pace with this growth. Several airports in Asia are already operating above their planned capacity. Consequently, congestion-related delays are increasing at most Asian hubs. In order to cope with the rising demand for air travel, several airports in the Asia-Pacific region are significantly investing to enhance their airport infrastructure.
Countries, like India, China, the Philippines, Vietnam, and Australia among others, have plans to expand their airports in the coming years. The expansion of airports in major cities with huge passenger traffic has created an opportunity for the manufacturers to introduce and offer their advanced ground support vehicles.
Also, the airport operators are procuring and testing new support vehicles that will allow them to simplify the airport operations. For instance, in August 2018, GVK Mumbai International Airport Ltd. inducted an Advanced Passenger Evacuation Vehicle for rescuing passengers and crew from inaccessible areas of aircraft.
The market of airport ground support vehicles is a fragmented market with many suppliers who provide various types of vehicles like passenger buses and stairs, refuelers, deicers, tugs and tractors, etc. Some of the prominent players in the airport ground support vehicles market are JBT Corporation, Textron Inc., Vestergaard Company, Tronair Inc., and Mallaghan Engineering Ltd.
Development of new technologies like electric aircraft tugs and electric GPUs among others are anticipated to support the companies and attract new customers (airlines as well as airport operators). For instance, Build Your Dreams (BYD) unveiled two new electric tow tractor models in October 2018. These tugs support the needs of ground handlers at tarmacs and aviation logistics centers and facilities and allow for rapid, restriction-free charging. The introduction of new advanced vehicles can help a company to gain new contracts and expand its market dominance during the forecast period.
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1.2 Tugs & Tractors
5.1.3 Passenger Buses
5.1.4 De-icing Vehicles
5.1.5 Ground Power Unit
5.1.6 Other Types
5.2.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.2.4 Latin America
220.127.116.11 Rest of Latin America
5.2.5 Middle East & Africa
18.104.22.168 Saudi Arabia
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 JBT Corporation
6.2.2 Textron Inc. (Textron Ground Support Equipment Inc.)
6.2.4 GATE GSE
6.2.5 Mallaghan Engineering Ltd.
6.2.6 Vestergaard Company
6.2.8 Tronair Inc.
6.2.9 TIPS d.o.o.
6.2.10 Ground Support Specialists
6.2.11 Xinfa Airport Equipment Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/kdf8j4
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INDUSTRY KEYWORD: FLEET MANAGEMENT AIR TRANSPORT AUTOMOTIVE
SOURCE: Research and Markets
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PUB: 12/02/2019 03:34 PM/DISC: 12/02/2019 03:34 PM