November 30, 2020
According to the recent research report titled ‘Defense Ground Support Equipment Market Size By Equipment Type, By Type, By Power Type, By Aircraft Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global defense ground support equipment market is expected to record appreciable growth during the forecast period, reaching a valuation of USD 0.6 billion by the year 2026.
Rising spending on defense by several economies and surging demand for fighter jets and combat-ready aircrafts are predicted to drive the growth of global defense ground support equipment market over 2020-2026.
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Increasing procurement of defense aircrafts, along with upgradation of existing fleet with technologically advanced airliners by the countries worldwide is also contributing to the overall market outlook. Moreover, supportive government norms and inclination of manufacturers on R&D investments to develop modern fighter jets and special mission aircrafts are also stimulating global defense ground support equipment market size.
Based on equipment type, ground power unit (GPU) segment is slated to grow substantially over the analysis period, owing to low operational & maintenance costs and easy operability of the equipment.
Speaking of type, mobile segment of global defense ground support equipment industry is reckoned to accrue notable gains by the year 2026, attributable to growing technological advancements.
Elaborating on power type, electric segment is reckoned to register a decent growth over the coming years, on account of stringent government directives about mitigation of carbon emission. While, hybrid segment is also anticipated to record a substantial growth over the study period, creditable to equipment’s high output and low maintenance expenditure.
Moving on to aircraft type, growing acceptance of technologically advanced fighter jets is likely to impede global defense ground support equipment market growth. These aircrafts possess such operational capabilities that they have eliminated the requirement for ground support operations. Introduction and adoption of such jets in defense sector will hamper the industry expansion over the assessment period.
From the regional perspective, Asia Pacific defense ground support equipment industry is expected to gain traction in the forthcoming years, owing to increasing expenditure on defense along with escalating demand for aircrafts from economies such as India, China, and South Korea.
Major players influencing global defense ground support equipment market trends are Kit Aero, Merlinhawk Aerospace Pvt. Ltd., Mototok International GmbH, GATE GSE, ITW GSE, Mulag Fahrzeugwerk GmbH, Tronair Inc., TLD GSE, Unitron LP, MAK Controls & Systems Pvt. Ltd., Atec Inc., Guinault S.A., RASAKTI Inc., EnerSys, JBT Corporation, Cavotec SA, and Rheinmetall AG.