Airport Stands Equipment Market is valued around USD 1.25 Billion in 2019 and expected to reach USD 2.00 Billion by 2030 with the CAGR of 4.30% over the forecast period.
Airport Stands Equipment is specially designed equipment’s used on airports for aircrafts and passengers. These equipment’s include ramps, bridges, guidance systems, and many more to further enhance the consumer experience with limited efforts. This equipment’s also reduce the human efforts along with high operational efficiency. This also eliminates the inconvenience to passenger or staff on daily basis with excellent high speed work.
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Global Airport Stands Equipment Market report is segmented on the basis of equipment type and by regional. Based upon equipment type, the airport stands equipment market is fragmented into Air Bridges, Preconditioned Air Unit, Electrical Ground Power Unit, and Stand Entry Guidance System. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.
The airport stands equipment’s market is mainly driven by the growth in tourism industry along with rising international travel owing to international trade practices. There has been constant growth in airports all around the world which has raised the demand for airport equipment’s market. In addition, technological advancements supported by the growth in airport modernization activities along with developing infrastructure. Over the period of time, there has been growth in travel across the world owing to growing population has also created the demand for new aircrafts along with the up-gradation of existing airports as per international passengers to further enhance the passenger experience as well as comfort are likely to drive the market growth. However, long shelf life along with lack of skilled workforce may hamper the market growth in the near future.
The developed regions such as North America and Europe are expected to hold the major market share owing to the presence of developed infrastructure along with technological advancement. In addition, growth in tourism industry followed growth passenger traffic along with the rising demand for new aircrafts. Asia Pacific is expected to dominate the airport stands equipment market in terms of growth rate owing to the rapid growth in disposable along with growth in international travel activities as well as trade practices. Moreover, increase in the number of airports as well as up-gradation as per international policies are likely to promote the market growth in near future.
The major market players profiled in the airport stands equipment market includes TUG Technologies Corporation., AERO SPECIALTIES, INC., JBT, FMT Aircraft Gate Support Systems AB, ThyssenKrupp Airport Systems, Cavotec SA, ShinMaywa Industries, Ltd, and Omega Aviation Services, Inc. among others.