Airport stands equipment are used as predetermined stands on the aircraft ramp during the arrival, and departure of flights to ensure efficient operation of fights, provide comfort for passengers and airport staffs, adequate safety, and ensure smooth functioning of all operations related to aircrafts. Besides this, quality airport stand equipment ensure free, and efficient operation.
The major factors contributing towards the growth of the airport stands equipment market includes technological advancements, increasing demand in commercial aviation applications and extensive safety norms to perform intricate operations with reduced risks, cost associated with the use of stand equipment, and least human intervention. Furthermore, the growth of the global airport stands equipment market is anticipated to be driven by increasing demand for upcoming airports, ground support equipment such as preconditioned air unit, stand entry guidance system, and electrical ground power unit.
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With advancements in technology, the rate of air traffic, and airport upgradation has increased significantly, which is expected to fuel the growth of the global airport stands equipment market. The high growth potential in emerging markets, and increase in demand for product refurbishing market, is anticipated to offer significant opportunities to market players associated with the airport stands equipment market. Moreover, growth in international tourism has led to an expansion of existing airports, and construction of new airports, which is expected to stimulate the growth of the airport stands equipment market during the forecast period. However, there are some key challenges, which are expected to impede the growth of airport stands equipment market on a smaller scale, which mainly includes optimum utilization of resources, and rising operation expenditure.
Rising demand for brownfield airport projects and growing various number of energy-efficient projects are some of the key trend in the airport stands equipment market.
The global airport stands equipment market can be segmented on the basis of equipment, and geography. Based on equipment, the global Airport stands equipment market can be bifurcated into preconditioned air units, passenger boarding, electrical ground power unit, stand entry guidance system, and air bridge. Furthermore, the preconditioned air units can be divided into movable preconditioned unit, and fixed air conditioned unit. The electrical ground power unit has been further categorized into movable ground power unit, and fixed electrical ground power unit. The air bridges are further segmented into glass walled air bridge, and steel walled air bridges. Based on geography, the global Airport stands equipment market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Preconditioned Air Units segment is expected to show lucrative growth during forecast period owing to the significant increase in air traffic across the globe. Among the geographies, North America is anticipated to dominate the global market with largest market share owing to renovation of old airports. Moreover, Asia Pacific is anticipated to dominate the global airport stands equipment market in terms of growth rate during the forecast period. India and China are estimated to be the major contributors towards the growth of airport stands equipment market in Asia Pacific, and are anticipated to register highest growth during the forecast period owing to increasing number of airports, and increase in passenger traffic.
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Some of the major market players associated with the global airport stands equipment market includes AERO SPECIALTIES, INC., TUG Technologies Corporation., FMT Aircraft Gate Support Systems AB, JBT, Cavotec SA, ThyssenKrupp Airport Systems, Omega Aviation Services, Inc., ShinMaywa Industries, Ltd, and some others. The prominent players in airport stand equipment market are observed to be focused on acquiring local market players and vendors to maintain competitive edge. Other competitive strategies adopted by the players include collaborations, joint ventures, and constant upgradation of products and services.