The global airport stands equipment market was valued at $3.97 billion in 2020, and is projected to reach $7.22 billion in 2030, registering a CAGR of 6.4%.
Airport stand equipment are the maintenance or predetermined stands used at airports during maintenance of aircraft or arrival & departure of flights. Engineers and other maintenance professionals can use these platforms or stands to safely access the aircraft and perform routine maintenance and inspections. In addition, these equipment are used to ensure efficient operation of flights, provide adequate safety & comfort to passengers and airport staff, and ensure smooth functioning of all aircraft-related operations on the ramp. This equipment plays a key role in aircraft mobility, ground power operations, and cargo or passenger loading operations.
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Major Market Players:
- Aero Specialities
- Dedienne Aerospace
- Fabrication Authorities International, Inc. (FAI)
- HHI Corporation
- Hydro System KG
- JETechnologies Solutions Inc. (JSI)
- OEM Group Pty Ltd.
- Semmco Ltd.
- Waag Aircraft
- Wildeck, Inc.
Factors such as increase in global freight & passenger traffic, upgrades at airports, and technological advancements in airport stands equipment drive the growth of the market. However, increase in expenses of low-cost operators and long service life of airport stand equipment are expected to hamper the market growth. On the contrary, countries with a high population base such as China, India, Russia, and Brazil have witnessed significant growth in working & middle-class population, which positively impact the income level and living standard of economic class. This is projected to fuel the occupancy of airlines in the near future. Proactive government support for infrastructural spending at airports and an increase in focus on non-aviation-related revenue are expected to create major opportunities for market expansion during the forecast period.
The airport stands equipment market is segmented into stand and application. By stand, the market is classified into engine access, landing gear access, wheel, aircraft entry, cabin interior, and others. On the basis of application, the market is categorized into aircraft operations and maintenance, repair, and overhaul (MRO). Region wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Moreover, surge in international tourism has led to the construction of new airports and expansion of existing ones. Furthermore, according to the International Civil Aviation Organization (ICAO), by 2035, passenger traffic and freight volume will double. Factors such as rise in disposal income of the middle-class population and the emergence of low-cost airlines have led to increase in number of airline passengers. With surge in number of airline passengers, the demand for new aircraft and number of flights have increased at a significant rate. Such increase in demand for aircraft & flights propels the growth of the airport stands equipment market.
Key Benefits For Stakeholders
- This study presents analytical depiction of the global airport stand equipment market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall airport stand equipment market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities of the global airport stand equipment market with a detailed impact analysis.
- The current airport stand equipment market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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