Defense Ground Support Equipment Market worth over $600mn by 2026
Published Date: January 13, 2020 Authors: Ankita Bhutani, Preeti Wadhwani
Defense Ground Support Equipment Market size is set to surpass USD 600 million by 2026, according to a new research report by Global Market Insights, Inc.
Defense ground support equipment is present in the airbase or airport for servicing aircraft between landing/takeoff and maintenance. The ground support equipment is stationed near the ramp for quick & easy accessibility. The equipment is used for safe operation of aircraft between landing & takeoff and include towing of aircraft from runway to taxiway, loading/unloading of cargo & equipment, and ground power operation.
The defense ground support equipment market growth can be attributed to the rising investment in the defense industry and increasing demand for more advanced ground support equipment. The demand for more advanced fighter jet and special mission aircraft in Asia Pacific region is supporting the market. Fighter jet and transport aircraft cover the major part of the air defense sector and the rising demand for more reliable & mission ready aircraft is supporting the industry.
Rising demand for hybrid ground support equipment will remain a key growth driver for the market
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Hybrid ground support equipment held 3% of the market share in 2019 due to rising fuel prices and government initiative to reduce carbon footprint. The hybrid ground support equipment is more flexible and easier to operate than conventional equipment as it reduces the operational cost and supports frequent start/stop & quick turnaround ground handling operations.
Browse key industry insights spread across 215 pages with 290 market data tables & 27 figures & charts from the report, “Defense Ground Support Equipment Market By Equipment (Ground Power Unit (GPU), Air Start Unit (ASU), Air Conditioning Unit (ACU), Tow Tractors, Deicers), By Type (Fixed, Mobile), By Power Type (Diesel, Electric, Hybrid), By Aircraft (Fighter Jet, Transport Aircraft, Special Mission Aircraft), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Long-term contracts between government agencies and ground support equipment manufacturers for fighter jet
The fighter jet segment in the defense ground support equipment market is expected to witness 2% growth rate through 2026 on account of the rising investment and collaboration between defense agencies and ground support equipment manufacturers for component maintenance, technical support, and ground support operation of fighter jet.
Rising demand for multiple output ground power unit in the U.S.
In U.S. ground power unit segment is poised to grow at a CAGR of 1.5% by 2026. Growing government investments in military aircraft, technological advancement, and long-term contracts with ground support equipment manufacturers are some of the major drivers supporting the market expansion. The demand for technologically advanced multiple output ground power units is driving the market of ground power unit.
Rising demand for special mission and transport aircraft in China
China defense ground support equipment market is predicted to expand at a CAGR of more than 3% through 2026 led by the growing demand for special mission and transport aircraft. With the steady increase in fleet size of special mission aircraft by more than 16% in 2018 compared to 2017 and transport aircraft by 4%, China has become one of the major markets for the military ground support equipment market. Increasing demand for unmanned aircraft in defense application is supporting the growth of ground support equipment in China.
The major players operating in the market include Cavotec SA, Enersys, RASAKTI, Guinault, ATEC Ink, MAK Controls & Systems Pvt Ltd, Unitron, Lp, JBT Corporation, TLD (Alvest Group), Tronair, Mulag Fahrzeugwerk, Rheinmetall AG, ITW GSE, Gate GSE, Mototok, Merlinhawk Aerospace, and Kit Aero. Companies are focusing on merger & acquisition and development of more advanced ground support equipment.