Global Airport Stand Equipment Market is valued at approximately USD 4.49 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.4% over the forecast period 2023-2030. Airport stand equipment refers to a range of machines, tools, and vehicles that are used to handle and service aircraft when they are parked at the airport. The equipment is designed to support the safe and efficient movement of aircraft on the ground. The Airport Stand Equipment Market is expanding because of factors such as the upgrades at airports, surge in global freight & passenger traffic, rise in international tourism, coupled with the increasing number of government initiatives.
In addition, the rising emphasis on the expansion of airport capacity and airport modernization is exhibiting a positive influence on the growth of the global market. The International Air Transport Association (IATA) provides the lead on numerous initiatives related to the expansion of airports and airspace. The main objective is to improve airports, their infrastructure, airspace, and other areas’ effectiveness, functioning, and safety. IATA projects spending between USD 1.2 trillion and USD 1.5 trillion on the construction of international airport infrastructure by the end of 2030. Thereby, increasing development of the airport infrastructure is bolstering the market demand globally. Moreover, the surge in technological advancements in airport stand equipment, as well as the increasing focus on airport safety and security, present various lucrative opportunities over the forecasting years. However, the long service life of airport stand equipment and the increase in expenses of low-cost operators are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Airport Stand Equipment Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the modernization of airports, increasing freight and passenger traffic, and increase in air cargo traffic. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecasting years. The rising number of government initiatives to develop airport, and rise in focus on non-aviation-related revenue, surge in international tourism, and growing focus on the expansion airport modernization are significantly propelling the market demand across the region.
Major market players included in this report are:
Fabrication Authorities International, Inc. (FAI)
Hydro System KG
JETechnologies Solutions Inc. (JSI)
OEM Group Pty Ltd.
Recent Developments in the Market:
Ø In 2021, JBT AeroTech launched its new Jetway Express portable passenger boarding bridge. The Jetway Express is a lightweight and mobile passenger boarding bridge that is easily transported and set up at remote airport locations. The bridge is designed to improve the passenger experience and reduce turnaround times for airlines.
Global Airport Stand Equipment Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Stands, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Landing Gear Access
Maintenance, Repair, & Overhaul (MRO)
Middle East & Africa
Rest of Middle East & Africa