Airport stands is a ground support equipment used as predetermined stands on the aircraft ramp between journeys. The airport stands equipment provides adequate safety & comfort for passengers by ensuring the efficient operation of flights. This equipment ensures smooth functioning of aircraft-related operations on the ramp. The role of airport stands equipment involves ground power operations, aircraft mobility, and passenger or cargo loading/unloading operations.
The Driving Factors
The growth factors major factors of the airport stand equipment market include growing demand in applications of commercial aviation, and technological advancements. Other factors include extensive safety norms to accomplish intricate operations, least human intervention, and cost associated with the use of stand equipment. Additionally, the growth of the global airport stands equipment market is valued to be driven by growing demand for future airports, ground support equipment such as electrical ground power unit, stand entry guidance system, and preconditioned air unit. The rate of airport upgradation and rate of air traffic has significantly increased due to the advancements in technology.
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Recent Developments in the Airport Stands Equipment Market
Over the last few years, the demand for airport stands equipment is on a verge owing to the continual increase in global freight and passenger traffic all across the globe. Also, growth in international tourism has led to the expansion of old airports and construction of new ones. As per International Airport Transport Association (IATA), for example, the global air freight market when measured grew by 9.0% FTKs (Freight Ton Kilometers). This means that the air passenger traffic results increased by 4.3% compared to the results in 2018.
As per a Research Dive blog, the demand for airport stands equipment has also increased due to the upgradation of airport infrastructure. Moreover, surge in international passenger traffic has imposed government agencies all across the globe to make significant investments to expand their transportation networks so as to put up the high capacity of visitors. To create huge growth opportunities in the global market, the government agencies of both developed and developing countries is taking positive measures to support airport infrastructure.
The U.S based manufacturer and distributor of new aircrafts, AERO Specialties launched new system JetGo 300 Ground Power Unit in January 2019. This system is specially designed for DC turbine and turboprop aircraft, which provides constant power for avionics.
Over the next two decades, the air traffic is expected to reach double owing to the resilient and strong passenger traffic, states the Airbus Global Market Forecast. It is predicted that this would lead to deployment of 34,900 new aircraft by 2036, of which 34,170 will be passenger aircraft and 730 will be freighters.
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Potential Future of the Global Market
Global market for airport stands equipment market is expected to witness a positive growth over the forecast period from 2019 to 2026. The improvement of airport infrastructure to provide comfort and safety to the passengers and aircraft workforces is escalating the growth of global airport stands equipment market. However, non-availability of skilled workforce is limiting the growth of airport stands equipment market. Furthermore, continuous increase in the number of brownfield and greenfield airport projects in developed and developing countries is creating abundant investment opportunities for the airport stands equipment market.
Increasing number of air travelers is one of the significant factors giving substantial uplift to the growth of the global market in the upcoming years. As per the Research Dive report statistics, the global market for airport stands equipment is likely to surpass $1,732.5 million by the end of 2026. Geographically, the North America airport stands equipment market is likely to dominate the industry owing to the construction activities carried out for renovation of old airports and new airports in this region. Additionally, the report profiles top gaining players operating in the global market who are focusing more on new product launches and R&D activities to increase their market size in the airport stands equipment industry across the globe.
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