Global Airport Stand Equipment Market Size, Share & Industry Trends Analysis Report By Stands (Aircraft Entry, Wheel, Landing Gear Access, Engine Access, Cabin Interior and Others), By Application, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Airport Stand Equipment Market
Market Report Description
The Global Airport Stand Equipment Market size is expected to reach $5.8 billion by 2028, rising at a market growth of 6.1% CAGR during the forecast period.
The service or maintenance stands used at airports for aircraft repair or predetermined flight arrival and departure are known as airport stand equipment. The equipment and tools used on the airplane ramp during flight arrivals and departures to ensure a smooth and efficient flight operation as well as sufficient comfort and safety for airport personnel and passengers are referred to as airport stand equipment.
These platforms or stands can be used by engineers and other maintenance specialists to safely access the aircraft and carry out regular maintenance and inspections. Additionally, this equipment is required to ensure smooth operation of all aircraft-related functions and operations on the ramp, adequate safety & comfort for passengers, and efficient operation of flights.
This machinery is essential for ground power operations, cargo or passenger loading, and aircraft mobility. A stand is a place where aircraft can be serviced. A plane prepares for takeoff here as it is refueled, loading people, and returning after the voyage. A Stand can offer services for any sort of aircraft, including private as well as guest aircraft, ranging from Swallow to Condor.
In order to accommodate a guest plane, a host also needs an open Stand. Therefore, while the planes are on the flight, they can reserve one stand for guest planes or accommodate them on whichever Stands are open.
COVID-19 Impact Analysis
The COVID-19 pandemic significantly impacted a number of industries all over the world. Various businesses were substantially damaged due to the abrupt emergence of the infection. The airport stand equipment market was also impacted by the pandemic. Because of the stringent lockdown measures that were put in place as well as the suspension of flights all over the world, COVID-19's rapid spread had a significant effect on the market for airport stands equipment in 2020. During the pandemic, it was recorded that there was less demand for airport stand equipment for both light and large aircraft. This trend is estimated to hamper the growth of the market.
Market Growth Factors
Modernization and technological advancements in airports
In the era of modernization, a number of processes are significantly being modernized and integrated with a number of technologies. The incorporation of the number of modern technologies as well as new equipment to streamline several processes is also increasing. In the coming years, upgrading airport infrastructure is anticipated to drive demand for airport stand equipment. Governments are also becoming active in order to modernize and enhancing airports all over the world. Additionally, government organizations have taken initiatives to promote airport infrastructure, which presents a market opportunity.
Significant increase in passenger traffic and demand for freight all over the world
One of the major factors that are driving the growth of the airport stand equipment market is the rapid surge in global freight. Aircraft, nowadays, are being utilized for a number of purposes all over the world. One of the most important aspects of commerce in goods and materials is freight transport. Positive effects on air freight traffic include an increase in the transfer of medical equipment, pharmaceuticals, and personal protective equipment in addition to a rapid increase in shipping costs. The International Air Transport Association (IATA) reports that after a strong performance in December 2021, the demand for air cargo climbed by 6.9% in 2021 compared to 2019 (pre-COVID levels) and by 18.7% compared to 2020.
Market Restraining Factors
High durability and longer service life
High strength and increased durability in any product are a major demand of customers within any industry. However, the airport stand equipment market is highly constrained owing to this factor. High-grade materials are used to make airport equipment. Aluminum is used as a ladder material while steel is used as a structural material in aircraft maintenance and engine access stands. The aircraft industry relies heavily on aluminum alloys because they offer great strength and ductility, good high processability, corrosion resistance, and extended life.
Based on Stand, the Airport Stand Equipment Market is segregated into Engine Gear, Landing Gear Access, Wheel, Aircraft Entry, Cabin Interior, and Others. In 2021, the landing gear segment recorded a significant revenue share of the airport stand equipment market. An aircraft's landing gear serves as a suspension mechanism for taxiing, taking off, and landing. It is made to diffuse and absorb the kinetic energy of landing impacts, lessening the impact loads that are imparted to the aircraft. To reduce the aerodynamic drag over the aircraft while flying, it is frequently made retractable.
By Application, the Airport Stand Equipment Market is bifurcated into Aircraft Operations and Maintenance, Repair, & Overhaul (MRO). In 2021, the aircraft operations segment procured the highest revenue share of the airport stand equipment market. Aircraft operations include counts at route fixes and other locations that allow for counts, as well as the airborne mobility of aircraft in regulated or uncontrolled airport terminal areas. Local and nomadic activities are two different sorts. By using standardized processes, aircraft operations direct the movement of traffic within the National Airspace System.
|Market size value in 2021||USD 3.9 Billion|
|Market size forecast in 2028||USD 5.8 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 6.1% from 2022 to 2028|
|Number of Pages||157|
|Number of Tables||280|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Stands, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-Wise, the Airport Stand Equipment Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, North America accounted for the biggest revenue share of the airport stand equipment market. Due to increased R&D efforts, technological advancements by significant players, and the quick uptake of novel technologies in the production of dependable airport stand equipment, the airport stand equipment market is being significantly driven. Moreover, with a rapid rise in the population traveling through aircraft within the region is also contributing to a majority of growth across the region.
Free Valuable Insights: Global Airport Stand Equipment Market size to reach USD 5.8 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Aero Specialities, Dedienne Aerospace, Fabrication Authorities International, Inc., HHI Corporation, Hydro System KG, JETechnologies Solutions Inc., OEM Group Pty Ltd., Semmco Ltd., Waag Aircraft and Wildeck, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Aircraft Entry
- Landing Gear Access
- Engine Access
- Cabin Interior
- Aircraft Operations
- Maintenance, Repair, & Overhaul (MRO)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Aero Specialities
- Dedienne Aerospace
- Fabrication Authorities International, Inc.
- HHI Corporation
- Hydro System KG
- JETechnologies Solutions Inc.
- OEM Group Pty Ltd.
- Semmco Ltd.
- Waag Aircraft
- Wildeck, Inc.
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