The Latest Ground Support Equipment Industry Statistics Explained
The global Ground Support Equipment (GSE) market value in 2020 was USD 5.67 billion.
The statistic “The global Ground Support Equipment (GSE) market value in 2020 was USD 5.67 billion” represents the total worth of equipment used to support the operations of aircraft on the ground for the year 2020, worldwide. This value encapsulates the monetary sum of all GSE components and machinery such as baggage handling systems, aircraft tugs, and fueling vehicles that are essential for efficient and safe aircraft ground handling activities. The mentioned USD 5.67 billion figure indicates the significant economic scale and importance of the GSE market within the aviation industry, highlighting the substantial investments made by airlines, airports, and associated service providers to ensure seamless and reliable ground operations for air travel.
GSE market is expected to reach USD 10.24 billion by 2025 at a CAGR of 6%.
This statistics statement indicates that the Global System Engineering (GSE) market is projected to grow to USD 10.24 billion by 2025. The growth is predicted to occur at a Compound Annual Growth Rate (CAGR) of 6%, suggesting a steady increase in market size year over year. This forecast reflects the anticipated expansion of the GSE industry, driven by factors such as increasing demand for system engineering solutions, technological advancements, and the growing complexity of systems across various sectors. The CAGR figure of 6% provides an insight into the pace at which the market is expected to expand, allowing stakeholders to make informed decisions and strategic plans for the future.
Electric GSE will account for over 40% of the overall market share by 2025.
This statistic implies that electric ground support equipment (GSE) is expected to significantly increase its market presence relative to non-electric alternatives by 2025. Specifically, it suggests that electric GSE will surpass a 40% market share, indicating a substantial shift towards sustainable and environmentally-friendly equipment within the aviation industry. This projection could be driven by growing awareness and adoption of green technologies, as well as potential regulatory incentives or requirements favoring electric GSE. The anticipated rapid growth of electric GSE highlights a broader trend towards sustainability and reduced carbon emissions within the transportation sector.
North America represents the largest market for GSE, accounting for more than one-third of the global market.
The statistic indicates that North America holds a dominant position in the Global System on Chip (GSE) market, with a market share exceeding one-third of the total worldwide market. This suggests that the North American region is a significant contributor to the overall demand for GSE products and services. Companies in North America likely have a strong presence in the industry, leading to a high concentration of market share in this region. This information can be valuable for businesses looking to enter or expand within the GSE market, highlighting the importance of focusing on North America as a key geographical area for potential growth and opportunities.
By 2025, The Aircraft Handling Market Size Is Expected To Reach $190 Billion.
The statistic “By 2025, the Aircraft Handling Market Size is expected to reach $190 billion” indicates the projected total value of the global market for services related to the handling and management of aircraft by the year 2025. This figure represents the estimated combined revenue generated from activities such as ground handling services, aircraft maintenance, repair, and overhaul (MRO) services, as well as other related services within the aviation industry. The forecasted market size of $190 billion suggests significant growth opportunities and increasing demand for aircraft handling services in the next few years, driven by factors such as the expansion of commercial aviation, increasing air travel, and the need for efficient and reliable aircraft operations globally.
The Asia-Pacific region will register the fastest growth in the GSE market, with a CAGR of 9.1% through 2025.
This statistic suggests that the Asia-Pacific region is expected to experience significant growth in the Gross Security Expenditure (GSE) market over the period up to 2025. The Compound Annual Growth Rate (CAGR) of 9.1% reflects the projected average annual increase in the market value within this region during this period. This growth rate is higher compared to other regions, indicating that the Asia-Pacific region is poised for rapid development and investment in security-related products and services. Factors such as increasing security threats, economic growth, technological advancements, and government initiatives are likely driving this anticipated growth in the GSE market across the Asia-Pacific region.
The passenger service segment is predicted to grow at a rate of over 6.5% from 2021 to 2027.
The statistic indicates that the passenger service segment, likely referring to the transportation or travel industry, is expected to experience significant growth over the period from 2021 to 2027. The predicted growth rate of over 6.5% suggests a robust expansion in demand for passenger services during these years. This may be driven by factors such as an improving economy, increasing urbanization, rising disposable incomes, or advancements in technology making travel more accessible and convenient. Such growth could lead to increased business opportunities, job creation, and overall economic development within the passenger service sector.
GSE market is expected to witness a slowdown in 2020 due to the COVID-19 pandemic.
The statement “GSE market is expected to witness a slowdown in 2020 due to the COVID-19 pandemic” suggests that there will be a decrease in activity within the GSE (Government-Sponsored Enterprises) market during the year 2020 as a result of the impact of the COVID-19 pandemic. This slowdown may be attributed to various factors such as decreased economic activity, disruptions in financial markets, and uncertainties surrounding the global economy due to the pandemic. As governments and businesses navigate the challenges posed by the ongoing crisis, it is anticipated that the GSE market will experience a downturn in terms of investments, transactions, and overall performance in the year 2020 compared to previous years.
The Cargo and Aircraft Handling segment held the largest revenue share, of over 45%, in the GSE market in 2020.
This statistic indicates that the Cargo and Aircraft Handling segment comprised more than 45% of the total revenue generated in the Ground Support Equipment (GSE) market in 2020. This suggests that this particular segment played a significant role in the industry and had a dominant influence on overall market performance during that year. The high revenue share indicates a strong presence and importance of the Cargo and Aircraft Handling segment in the GSE market, highlighting its key role in driving the market dynamics and reflecting the demand for ground support equipment within this specific sector of the aviation industry.
Only around 30% of GSE is currently electric, despite the potential efficiency gains.
This statistic indicates that only about 30% of the Global Stock of Energy (GSE) is currently being generated through electric sources, suggesting that the majority of energy production still relies on non-electric means such as fossil fuels. This low percentage of electric energy generation is concerning given the potential efficiency gains that can be achieved through electric technologies such as renewable sources like solar and wind power. Transitioning towards a higher proportion of electric energy generation could lead to increased efficiency, reduced greenhouse gas emissions, and long-term sustainability benefits for the environment. Therefore, there is a significant opportunity to further develop and adopt electric energy technologies to optimize energy efficiency and reduce global dependence on traditional non-electric energy sources.
The aircraft handling service’s market size is expected to reach more than USD 130 billion by 2030.
The statistic suggests that the market size of aircraft handling services is projected to grow significantly to exceed USD 130 billion by the year 2030. This indicates a substantial increase in the demand for services related to the handling and management of aircraft, such as ground handling, maintenance, repairs, and other related services. Factors contributing to this growth may include the rise in air travel, increasing fleet sizes of airlines, expanding aviation industry, and the need for efficient and reliable aircraft handling services. The projected market size reflects the potential opportunities and growth prospects within the aircraft handling sector, making it an attractive and lucrative industry for businesses and investors in the coming years.
The global market for ground support equipment services is expected to exceed USD 22 billion by 2025.
This statistic indicates a substantial growth projection for the global market that provides ground support equipment services, such as maintenance, repair, and operational support for airlines and airports. The expected exceeding of USD 22 billion by 2025 suggests a significant increase in demand for these services, likely driven by the expansion of air travel and the need for efficient ground operations. This growth may be due to factors such as increasing air traffic, an aging fleet of aircraft requiring more maintenance, and the implementation of advanced technologies in ground support equipment. Overall, this statistic highlights a lucrative and expanding market opportunity for companies operating in the ground support equipment services industry.
Europe held the second-largest revenue share, accounting for over 25% of the total market in 2020.
The statistic indicates that in 2020, Europe was the second-largest contributor to the total market revenue, representing over 25% of the aggregate revenue generated in that market. This suggests that Europe played a substantial role in the overall financial performance of the market, ranking only behind the region or sector that held the largest revenue share. The data highlights the significance of Europe as a key player in the industry or market under consideration and sheds light on the economic impact and influence of European businesses and consumers within this specific market context for the year.
The military segment of the GSE market is expected to grow at a CAGR of over 3.5% during 2020-2025.
This statistic indicates that the military segment within the Government-Sponsored Enterprises (GSE) market is projected to experience a Compound Annual Growth Rate (CAGR) exceeding 3.5% between the years 2020 and 2025. This growth rate is reflective of the anticipated expansion and investment within the military sector of the GSE market during this period. The CAGR serves as a significant metric to measure the annual growth rate of the market segment over the specified time frame, providing insight into the expected trajectory and potential opportunities for stakeholders operating within this sector.
China and India are expected to be the major contributors to the growth of the GSE market in Asia-Pacific.
This statistic indicates that China and India are forecasted to play a significant role in driving the growth of the GSE (Globally Systematically Important Banks) market within the Asia-Pacific region. This suggests that these two countries are likely to experience substantial economic expansion and development within their financial sectors, potentially leading to increased investment opportunities and market activities. The strong performance of China and India in the GSE market is anticipated to positively impact the overall financial landscape in Asia-Pacific, influencing trends and outcomes regionally and potentially globally.
The global ground support equipment tire market worth is expected to reach USD 395.6 million by 2023.
This statistic indicates the projected value of the global ground support equipment tire market by the year 2023, estimated to be USD 395.6 million. This forecast suggests a significant growth opportunity for manufacturers and suppliers in the ground support equipment tire industry, driven by factors such as increasing air travel demand, expansion of airports worldwide, and advancements in technology leading to more efficient and durable tire solutions for ground support equipment. The expected market worth represents a positive outlook for industry players looking to capitalize on the growing demand for ground support equipment tires in the aviation sector.
The global ground power units market, part of the overall ground support equipment market, is projected to reach USD 695.8 million by 2025.
The statistic suggests that the global market for ground power units, a segment within the larger ground support equipment market, is expected to experience significant growth and reach a value of USD 695.8 million by the year 2025. This projection indicates a positive trend in the demand for ground power units, which are essential for providing electrical power to aircraft on the ground. Factors such as increasing air traffic, the expansion of airports, and the introduction of technologically advanced aircraft may be driving this market growth. The projected value highlights the potential opportunities for companies operating in the ground support equipment industry and underscores the importance of continued innovation and development in this sector.
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