Airport Stands Equipment Market Forecasts to 2028 - Global Analysis By Stand, Equipment Type (Preconditioned Air Unit, Air Bridges), Platform Type, End User, and By Geography

According to Stratistics MRC, the Global Airport Stands Equipment Market is accounted for $4.67 billion in 2022 and is expected to reach $7.62 billion by 2028 growing at a CAGR of 8.5% during the forecast period. Airport stands is found at an airport, which is mainly used to service the aircrafts between journeys. This equipment is used to ensure efficient operation of flights, provide adequate safety & comfort to passengers and airport staff, and ensure smooth functioning of all aircraft-related operations on the ramp. These equipments play a key role in the numerous operations include passengers or cargo loading/ unloading, airplanes mobility, and ground power services. It supports the aircrafts by providing comfort and safety to the passengers and aircraft operators.

According to the International Air Transport Association (IATA), 52.2 million metric tons of cargo was transported in 2015 and is predicted to increase at a CAGR of 4.1% for the next 5 years. Moreover, as per IATA, the global air freight market when measured grew by 9.0% FTKs (Freight Ton Kilometers). This means that the air passenger traffic results increased by 4.3% compared to the results in 2018. In addition, as per IATA's 20-year air passenger forecast, the number of air traveler could double to 8.2 billion by end of 2037. Thus, a surge in air travel is anticipated to drive the market growth.

Market Dynamics:

Driver:

Rise in global freight and passenger traffic

Global freight transport is a key component in the trade of goods and materials. Increase in transportation of pharmaceuticals, medical equipment, & personal protective equipment as well as sudden rise in price of shipping positively impact the air freight traffic. According to the International Air Transport Association (IATA), the demand for air cargo increased by 6.9% in 2021, compared to 2019 (pre-covid levels) and 18.7% compared to 2020, following a strong performance in December 2021, and is expected to continue increment in the upcoming year. This rise in global freight operations creates demand for regular maintenance of cargo aircraft and loading stands or platforms, which simultaneously creates demand for airport stand equipment. Moreover, surge in international tourism has led to the construction of new airports and expansion of existing ones.

Restraint:

Lack of skilled workforce

Airport stands equipment requires skilled personals in order to uphold and operate this equipment's. Digitalization and addressing the skilled labor shortage to build resilience and ensure long-term sustainability for ground handling activities. In addition, lack of availability of skilled labors to operate these equipment's are expected to hinder the growth of airport stands equipment market in the near future.

Opportunity:

Growing the brownfield and green field airport projects

Continuous increase in the number of greenfield and brownfield airport projects across the globe is creating ample investment opportunities for the airport stands equipment market. The Government of India has received proposals for setting up Greenfield airports at various places all over the country as there is a growing need for internationally-benchmarked airports. The investment in airport infrastructure industry, especially in the greenfield and brownfield projects are increasing with large number of ongoing and proposed projects. Furthermore, the upgrade or modification of existing airports in the both developed and developing economies is further expected to drive the market growth.

Threat:

Pandemic had a negative impact on global aviation industry

The COVID-19 pandemic had a significant impact on the aviation industry due to travel restrictions and a slump in demand among travelers. Significant reduction in passenger numbers has resulted in flights being cancelled or planes flying with very few passengers. This, in turn, is estimated to hamper the demand for airport stands equipment in the near future.

The air bridges segment is expected to be the largest during the forecast period

The air bridges segment is estimated to have a lucrative growth, due to increasing need for air bridges to help passengers aboard the plane easily and ability of air bridges to extend from an airport terminal gate to the aircraft. Moreover, air bridges offer various benefits such as is can be movable, fixed and expanded in length as per the structure of the airport and requirement. Currently, many players are focusing on developing large aircrafts to gain more profits, which in turn is expected to increase demand and usage of air bridges.

The civilian segment is expected to have the highest CAGR during the forecast period

The civilian segment is anticipated to witness the fastest CAGR growth during the forecast period, owing to the increasing demand in commercial aviation applications, increasing demand for upcoming airports, growth in international tourism, and demand for domestic and international flights.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to increasing number of air passengers is resulting into more demand of aircrafts. In addition, countries in North America such as US and Canada are known as capital for aerospace industry, which is another major factor expected to drive North America market in the next few years. Furthermore, the construction of new airports and renovation of old airports are directly impacting the airport sands equipment market to provide better comfort and safety to the passengers and aircrafts workforce in North America.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, due to increase in the number of air travelers and existence of fast growing economies such as South Korea, China and India. Moreover, high industrial cluster in this region, along with the demand for modernization of airports and refurbishment, is expected to pull the demand for airport stands equipment. Developing countries are looking for sustainable and technologically-advanced equipment. With the use of airport stands equipment, higher efficiency levels and cost savings can be achieved, which is one of the reasons that make this market attractive in this region.

Key players in the market

Some of the key players profiled in the Spices and Seasonings Market include Cavotec SA, JBT Corporation, Adelte Group, Textron Inc., ThyssenKrupp AG, TUG Technologies Corporation, SAHCO Plc, Omega Aviation Inc, ShinMaywa Industries Ltd, AERO Specialties, HDT Global, Aero Specialties, Inc., FMT Aircraft Gate Support Systems AB, Safegate Group, Wildeck, Inc., JETechnologies Solutions Inc. (JSI), Hydro System KG, and Semmco Ltd.

Key Developments:

In April 2022, SAHCO Plc, a leading airport, and aviation service provider acquired 10 Passenger Step Units manufactured by Mallaghan, one of the fastest-growing airport ground support equipment manufacturers worldwide. With this acquisition, SAHCO wanted to expand its fleet of Ground Support Equipment (GSE) with ultra-modern equipment to prevent aircraft damage.

In January 2019, the AERO Specialties introduced new system "JetGo 300 Ground Power Unit" designed for turboprop aircraft and DC turbine, which is developed to provide constant power for avionics.

In July 2018, the Textron Ground Support Equipment Inc. announced its first pushback in the new ALPHA series of conventional pushbacks, named 'TUG ALPHA 4.' The pushback is capable of moving aircraft up to the Airbus A340 and Boeing 747, with a maximum drawbar pull of 72,000 pounds and maximum net vehicle weight of 120,000 pounds.

Stands Covered:

• Landing Gear Access
• Aircraft Entry
• Engine Access
• Cabin Interior
• Wheel

Equipment Types Covered:

• Preconditioned Air Unit (PCA)
• Air Bridges
• Electrical Ground Power Unit
• Stand Entry Guidance System
• Passenger Boarding Bridge

Airport Hubs Covered:

• Non-Hub
• Small Hub
• Medium Hub
• Large Hubs

Platform Types Covered:

• Movable
• Fixed

Airport Categories Covered:

• Domestic Airports
• International Airports

Applications Covered:

• Maintenance, Repair, & Overhaul (MRO)
• Aircraft Operations

End Users Covered:

• Civilian
• Military Aviation
• Commercial Aviation

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances