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Ground Support Equipment Market Size And Detailed Analysis Focusing On Key Players | Fortune Business Insights

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Aashi Kohli
Ground Support Equipment Market Size And Detailed Analysis Focusing On Key Players | Fortune Business Insights

The ground support equipment is widely used in airports to ensure safety in several procedures associated with flights. The equipment is used in pre-takeoff and post landing. The sensitivity associated with the device has attracted huge investment in the development of efficient products across the world. The global ground support equipment market size is projected to reach USD 6,640.7 million by the end of 2027. Rising product demand will emerge in favor of market growth. 

According to a report published by Fortune Business Insights, titled “Ground Support Equipment Market Size, Share and Global Trend by Type (Mobile GSE, and Fixed GSE) By Power Source (Non-Electric GSE, Electric GSE, and Hybrid GSE) By Application (Commercial, and Military), By Component (Equipment, and Maintenance) and Regional Forecasts, 2020-2027,” the market was worth USD 5,279.5 million in 2019 and will exhibit a CAGR of 4.22% during the forecast period, 2020-2027.

"North America to Hold the Highest Share; Increasing Demand for Electric and Hybrid GSE Will Emerge in Favor of Market Growth"

The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in North America is projected to emerge dominant in the coming years. The increasing demand for electric and hybrid ground support equipment in this region will aid the growth of the regional market. The presence of several large scale international airports will create a subsequent demand for the product in this region. Moreover, the presence of several large scale companies will contribute to the growth of the market.  As of 2019, the market in North America was worth USD 1697.3 million, and this value is projected to increase further in the coming years.

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