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The airport stands equipment market size is estimated to grow at a CAGR of 6.47% between 2022 and 2027 and the size of the market is forecast to increase by USD 1,457.82 million. The growth of the market depends on several factors such as the increase in global freight and passenger traffic, the technological advancements in airport stand equipment, and the growing preference for smart airports.
This report extensively covers market segmentation by type (air bridge, preconditioned air unit, stand entry guidance system, and electrical ground power unit), application (aircraft operations and MRO), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our analysis of the adoption life cycle of the market indicates its movement between the innovator’s stage and the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Airport Stands Equipment Market Customer Landscape
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
An increase in global freight and passenger traffic is driving market growth. Increasing global trade is resulting in a greater volume of shipments of pharmaceuticals, medical devices, and personal protective equipment via air freight being observed. Moreover, reduced transportation costs are boosting global freight, which also increases demand for aircraft stand equipment.
Additionally, the increased number of international tourists due to increased disposable income has resulted in new airports being constructed and existing ones being expanded. As per the International Civil Aviation Organization (ICAO), passenger and cargo volumes will double by 2035. All these factors contribute to the growing demand for newer, modern aircraft, which further boosts the growth of the airport stand equipment market during the forecast period.
The rise in construction and upgradation of airports is a key trend in the market. Modern airports and airport infrastructure are becoming increasingly important due to the frequent and high number of international tourists. Hence, governments are investing in expanding their aviation networks to match international travel demands. For instance, the transportation secretary of Canada Omar Al-Ghabra announced funding of approximately USD 16 million to support Regina International Airport in its expansion efforts.
Additionally, India and China, among other developing countries, are also massively investing in expanding their aviation infrastructure. For example, in 2019 the Indian government announced a target of 100 more airports to be launched to further economic growth. For this effort, the government has allocated to invest USD 13 billion in airport construction. Hence, such factors are likely to contribute to the growth of the market during the forecast period.
The long service life of airport stands is challenging market growth. The prevalence of aluminum alloys and other durable materials in the manufacture of aircraft stands equipment are highly responsible for the long service life and minimal repair and maintenance of airport permanent equipment. For example, the DF071554-06 Aircraft Maintenance and Engine Access Stand is made from high-quality aluminum and steel.
Additionally, the usage of composite materials for aircraft stands by some manufacturers results in even greater efficiency and resource usage compared to traditional non-renewable materials. It can possess properties such as corrosion resistance, impact resistance, non-magnetism, and high durability. Hence the increased operational efficiency, long service life, and low life cycle costs are accountable for slowing market growth during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ADELTE Group SL - The company offers airport stands equipment such as passenger boarding bridges, ground support equipment, and smart passenger terminal solutions.
AERO Specialties Inc. - The company offers airport stand equipment such as Aircraft Tow Tugs and Pushback Tractors, Air Conditioning and Heating, Aircraft Ground Power Units and Supplies, and Aircraft Lighting.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market share growth by the air bridge segment will be significant during the forecast period. They are a type of airport stand facility which includes elevated enclosed walkways that allow passengers to safely board the plane. They can either be fixed or movable and are also known as jet bridges, sky bridges, or jetways. A key technological advance is the adoption of proximity sensors to prevent accidental damage to aircraft.
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The air bridge segment showed a gradual increase in the market share of USD 1,051.46 million in 2017 and continued to grow by 2021. Modern advances include split bridges which involve a common entrance to the airport being split into two aisles. The Airbus A330 and the Boeing 777 have such air bridges. Hence, such factors are predicted to result in the growth of this segment of the global airport stand equipment market during the forecast period.
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APAC is estimated to contribute 33% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
Another region offering significant growth opportunities to vendors is North America. This region is greatly supported by a noteworthy aviation base, especially in the US. The rising air traffic is resulting in a need to upgrade existing American airports, met by the presence of several players across the entire aircraft manufacturing supply chain, including airport stands equipment manufacturers. This will lead to the opening of new terminals which will increase demand for airport stands equipment in various US airports. The demand for airport stands equipment is also predicted to further be boosted by factors such as the increasing US defense expenditure and launching of new generation aircraft. However, slow growth in cargo shipment is one of the factors which could negatively impact the market during the forecast period.
The COVID-19 pandemic and resulting lockdowns massively impacted the aviation industry, reducing the number of passengers at airports since the beginning of 2020. This had a direct impact on the demand for airport stands equipment and caused little to no activity in the market. However, after easing of restrictions due to large-scale vaccination drives, several domestic, national, and international flights returned to their pre-pandemic levels. Hence the increased air traffic is likely to result in increasing demand for airport stands equipment and propel the market growth during the forecast period.
The airport stands equipment market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Airport Stands Equipment Market Scope |
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Report Coverage |
Details |
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Page number |
157 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.47% |
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Market growth 2023-2027 |
USD 1,457.82 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.14 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 33% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ADB Safegate BV, ADELTE Group SL, AERO Specialties Inc., Cavotec SA, Dedienne Aerospace, DENGE, FMT Aircraft Gate Support Systems AB, HHI Corp., Holden Industries Inc., HYDRO Systems KG, JETechnology Solutions, John Bean Technologies Corp., Mallaghan GA Inc., Omega Aviation Services Inc, Semmco Group, ShinMaywa Industries Ltd., Textron Inc., ThyssenKrupp AG, TREPEL Airport Equipment GmbH, and Waag |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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