Market Research Future (MRFR) has published on the “Global Military & Defense Ground Support Equipment Market”.
The Military & Defense Ground Support Equipment market is estimated to register a CAGR of 5.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Military & Defense Ground Support Equipment market— Air+MAK Industries Inc., ATEC, Inc., Cavotec SA, GATE GSE, Rheinmetall AG, Tronair Inc., Unitron, LP., Hydraulics International Inc., ITW GSE ApS, and JBT Corporation.
Military & Defense Ground Support Equipment Market Highlights
The global Military & Defense Ground Support Equipment market is accounted to register a CAGR of 5.50% during the forecast period and is estimated to reach USD 1.31 billion by 2032.
The key driver propelling the Military and Defense Ground Support Equipment market is the relentless pursuit of technological advancement within the military sector. As armed forces globally prioritize modernization, there is an increasing demand for ground support equipment that integrates cutting-edge technologies. The evolution of military threats and the complexity of modern warfare necessitate advanced equipment capable of efficiently servicing and maintaining sophisticated aircraft. Technological drivers include the incorporation of artificial intelligence, robotics, and smart sensors into ground support systems, enhancing their effectiveness and reliability. Governments and defense agencies recognize that staying ahead in the arms race requires not only advanced weaponry but also state-of-the-art support infrastructure. This focus on technological innovation ensures that ground support equipment aligns with the capabilities of modern military assets, contributing to overall operational readiness and effectiveness on the battlefield.
Segment Analysis
The global Military & Defense Ground Support Equipment market has been segmented based on Type, Power Type, Aircraft, and Equipment
Based on Type, the global Military & Defense Ground Support Equipment market has been segmented into Fixed and Mobile. The Mobile segment was expected to hold the largest market share in 2022. This is because it can adapt to and support operations in various dynamic.
Based on Power Type, the global Military & Defense Ground Support Equipment market has been segmented into Diesel, Electric, and Hybrid. The diesel segment was anticipated to hold the major market share in 2022. Its prevalence in military applications can be attributed to its widespread use.
Based on Aircraft, the global Military & Defense Ground Support Equipment market has been segmented into fighter jets, transport aircraft, and special mission aircraft. The transport aircraft segment was expected to hold the biggest market share in 2022. This growth stems from its significant role in military logistics and deployment.
Based on Equipments, the global Military & Defense Ground Support Equipment market has been segmented into Ground Power Unit (GPU), Air Start Unit (ASU), Air Conditioning Unit (ACU), Tow Tractors, Deicers, and Others. The Ground Power Unit (GPU) segment was anticipated to hold the major market share in 2022. This is because it plays an essential role in supplying electrical power to aircraft on the ground.
Regional Analysis
The global Military & Defense Ground Support Equipment market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Military & Defense Ground Support Equipment market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Military & Defense Ground Support Equipment market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Military & Defense Ground Support Equipment market comprises of Middle East, Africa, and Latin America.
The largest market share for Military and defense Ground Support Equipment was maintained by the North American regional sector owing to substantial defense spending, advanced technology, and a robust military infrastructure. The United States, boasting one of the world's largest defense budgets, allocates significant resources to modernize military equipment, including ground support systems.
Moreover, the European market has been persistently growing over the forecast period, driven by collective defense efforts among NATO member countries. The United Kingdom, Germany, and France, among others, invest significantly in defense procurement and research and development. Collaborative defense initiatives within the European Union and NATO contribute to ground support equipment standardization, making Europe a pivotal market.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period, fueled by increasing geopolitical tensions and modernization efforts. Nations like China, India, South Korea, and Japan actively invest in upgrading military infrastructure, including ground support systems, enhancing their defense capabilities.
Furthermore, the rest of the world's Military and defense Ground Support Equipment market is divided into the Middle East, Africa, and Latin America. This growth is attributed to rising economic development, geopolitical tensions, and modernization efforts.
Key Findings of the Study
- The global Military & Defense Ground Support Equipment market is expected to reach USD 1.31 billion by 2032, at a CAGR of 5.50% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to rising economic development, geopolitical tensions, and modernization efforts
- Based on Type, the Mobile segment was attributed to holding the largest market in 2022, with approximately more than half of the market share.
- Air+MAK Industries Inc., ATEC, Inc., Cavotec SA, GATE GSE, Rheinmetall AG, Tronair Inc., Unitron, LP., Hydraulics International Inc., ITW GSE ApS, and JBT Corporation.
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Companies Covered | 15 |
Pages | 128 |
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