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According to a new report, published by KBV research, 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 Aircraft Entry market is leading the Global Airport Stand Equipment Market by Stands in 2021; thereby, achieving a market value of $1.6 billion by 2028. The significant rise in the growth of the segment is attributed to the rapidly rising air traffic all over the world. With a rise in the number of passengers, the demand for airlines for reducing the turnaround time is also rising. Therefore, market players are increasingly introducing a number of cutting-edge technologies. This factor is driving the growth of this segment of the market.
The Maintenance, Repair, & Overhaul (MRO) market is estimated to witness highest CAGR of 6.8% during (2022 - 2028). Optimizing safety is just as crucial as preserving the aircraft's performance and dependability. The numerous life-limited components on an aircraft as well as any additional elements that might require overhaul or repair are to be evaluated and dealt with during scheduled maintenance activities. And routine MRO can investigate and address any less evident indicators of degradation to an aircraft's condition, such as corrosion that may form beneath the aircraft's exterior surfaces or a part that has to be repaired or replaced that is situated deep inside one of the aircraft's powerplants.
The North America market shows high market share in the Global Airport Stand Equipment Market by Region in 2021; thereby, achieving a market value of $2.1 billion by 2028. The Europe market would witness a CAGR of 5.6% during (2022 - 2028). Additionally, The Asia Pacific market is exhibiting a CAGR of 6.8% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.