This market research study presents a detailed segmentation of the global airport stands equipment market by type (stand entry guidance system, electrical ground power unit, preconditioned air unit, and air bridge) and by geography (Americas, APAC, and EMEA). The key vendors in the market are John Bean Technologies, Mallaghan, ThyssenKrupp Airport Systems, and TUG Manufacturing.
Technavio’s market research analysts estimate the global airport stands equipment market to grow at a CAGR of 6% between 2016 and 2020. Airport stands equipment are used on the aircraft ramp during the arrival and departure of flights to ensure efficient operation of fights, provide adequate safety and comfort for passengers and airport staff, and ensure the smooth functioning of all aircraft related operations on the ramp. The increasing congestion at airports is expected to increase the demand for supporting equipment such as the airport stand equipment market, in the coming years. APAC is the largest market for airport stand equipment, accounting for around 43% of the total market share. Much of this region’s growth comes from the rapid development and expansion of airports, particularly in countries like India and China.
The new market research report from Technavio provides a breakdown and analysis of the airport stands segments by technology.
“Of late, the vendors are focusing on non-aviation revenue generation, which is a prominent source of future expansion projects of airports. Duty-free shops mostly sell high-end, luxury goods such as cosmetics, jewelry, confectionary items, and alcohol. The profits accrued from the sale of these duty-free products reduce the airport’s reliance on aeronautical revenues. Moreover, such retail outlets diversify the tax base of the airport, and this income is utilized for fulfilling the demand for the support equipment required at the airports like preconditioned air units and electrical ground power supply systems,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research
The air bridge segment is the major revenue-contributing segment in the airport stand equipment market and occupy around 38% of the overall market share. Though this segment was the largest, its market share is expected to decrease due to the increasing demand for pre-conditioned air units and electrical ground power units. Moreover, the rising number of passengers is leading to an increased number of airlines being run by operators, which in turn, raises the demand for airport stands equipment like preconditioned air units and air bridges in the coming years.
The leading vendors in the global airport stands equipment market are John Bean Technologies, Mallaghan, ThyssenKrupp Airport Systems, and TUG Manufacturing. The market is highly fragmented and competitive owing to the presence of well-diversified international and regional vendors. The increasing presence of international vendors is hindering the growth of small domestic players as they are unable to match the standards of the global players in terms of quality and cost effectiveness.
A more detailed analysis is available in the Technavio report, Global Airport Stands Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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