According to the latest report published by Variant Market Research,the Global Airport Stand Equipment Marketsize is projected to reach $1,825 million by 2025. In this report, airport stand equipmentmarket forecast says that the global market is growing at a CAGR of 7.3% from 2017 to 2025. By geography, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period.Airport stand equipment confirms easy functioning of aircraft-associated tasks on the ramp. The key role of airport stands equipment comprises cargo, aircraft mobility, and ground power operations. This also comprises baggage and cargo tractors, forklifts, carts, lifts, ground power units, belt loaders, and air conditioning units.
"Airport Stand EquipmentMarket (By Equipment Type:Air Bridges, Preconditioned Air Unit, Electrical Ground Power Unit, and Stand Entry Guidance System; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025 "
Increase in demand of new aircrafts across the world drives the global airport stand equipment market
The global airport stand equipment market trend includes modernization of airports, mounting operational effectiveness of airports, and increase in demand of new aircrafts across the world. Though, growing operating cost of low cost carriers might act as a roadblock for the global airport stand equipment market growth. Moreover, optimization of operations in peak hours is likely to offer worthwhile opportunities for the market in the coming years.
Equipment type and geography are the classification of the global airport stand equipment market. The equipment type segment is categorized into air bridges (steel walled air bridges and glass walled air bridges), preconditioned air unit (fixed preconditioned air unit and movable preconditioned air unit), electrical ground power unit (fixed electrical ground power unit and movable electrical ground power unit) and stand entry guidance system (VDGS (visual docking guidance system) and A-VDGS (advanced visual docking guidance system)).
By geography, global airport stand equipment market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further split in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, India, South Korea, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Preconditioned air unit, by equipment type is anticipated to gain the fastest CAGR between 2017 and 2025
Preconditioned air unit, by equipment typeis predicted to achieve the fastest CAGR during the forecast period. An in-built auxiliary power unit (APU) is used in the aircraft for generating on-flight power. The APU uses onboard aviation jet fuel to produce power. The APU use to cool the aircraft is costlier as aviation fuel prices are high. So, the companies use preconditioned air units situated near aircraft stands for cooling or heating the aircraft. Owing to this, the preconditioned air unit is anticipated to gain the fastest CAGR between 2017 and 2025.
Asia-Pacific is expected to be the fastest growing market during the forecast period
Asia-Pacific is likely to attain the fastest CAGR throughout the forecast period, driven by factors such as the speedy development & expansion of airports, mainly in countries like China, and India.
Key players are offering innovative products and services to increase their airport stand equipment market share. Main players competing in the market include AERO SPECIALTIES, INC., JBT, FMT Aircraft Gate Support Systems AB, Textron Inc., Cavotec SA, ShinMaywa Industries, Ltd., HDT Global, thyssenkrupp AG, TUG Technologies Corporation, and ADELTE Group S.L., among others.