Aircraft GHS: Key market research findings
- Expansion and upgrade are factors fueling the market’s growth
- Increasing investments in research and development (R&D)
- Key vendors—AERO Specialties, Bharat Earth Movers, CargoTec, Cavotec SA, and JBT AeroTech
Technavio’s market research analysts estimate the global aircraft GHS market to grow at CAGR of almost 6% between 2016 and 2020. Terminal expansions and modernization is the primary driver for the global aircraft ground handling system (GHS)market. Terminal expansions and upgrade brings about an equivalent increase in the procurement of ground support equipment (GSE). At present, EMEA accounts for almost 48% of the overall market share to dominate the global aircraft GHS market. The increase in the number of airports and the modernization of existing airports are factors that will reflect positively on the growth of the market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the aircraft GHS segments by product.
“The shift towards tempered steam technology is the latest trend in the market. Tempered steam technology is an advanced ground support technology can generate an enormous amount of energy. Unlike other de-icing systems, this approach enables steam can be produced at lower and safer temperatures as it is equipped with an inflated blanket to contain the heat. It also eliminates the requirement for glycol which could potentially penetrate engine seals,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
In 2015, the aircraft handling segment dominated the aircraft GHS market globally by occupying more than 40% of the overall market share. Growing passenger traffic and number of aircrafts are factors that are responsible for the growth of this segment. For example, JBT Aerotech received a five-year contract, worth $10 million, to provide ramp services at the Dallas International Airport in February, 2016.
The key vendors in the global aircraft GHS market include AERO Specialties, Bharat Earth Movers, CargoTec, Cavotec SA, and JBT AeroTech. Owing to the presence of prominent players who regularly compete for a significant share of the market, the aircraft ground handling system market is highly competitive. However, there are only a few aviation ground handling companies who dominate the market with advanced technologies. The expected increase in the number of acquisitions and continuous government encouragement in developing new technologies will intensify the level of competition in the coming years.
A more detailed analysis is available in the Technavio report, Global Aircraft GHS Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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