The aircraft ground support equipment industry in Korea is poised for substantial growth up to 2034, with the adoption of this solution in both the South Gyeongsang and North Jeolla regions anticipated to show a CAGR of 5.9% through 2034.
The demand for aircraft ground support equipment in Korea has evolved into a mainstream industry, and this trajectory is set to drive the sector to an estimated valuation of approximately US$ 117.7 million in 2024. With a promising outlook and consumers' growing reliance on online shopping platforms, the projected demand for aircraft ground support equipment in Korea is expected to reach an impressive US$ 208.6 million by 2034.
| Attributes | Details |
|---|---|
| Industry Size (2024) | US$ 117.7 million |
| Forecasted Industry Size (2034) | US$ 208.6 million |
| CAGR Estimation (2024 to 2034) | 5.9% |
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Principal Consultant
The aviation sector in South Gyeongsang stands as a testament to robust government investments aimed at both the maintenance and expansive growth of airport infrastructure, particularly in the military air sector. The substantial government spending underscores a dedicated approach to fortifying the aviation industry. This investment bolsters existing infrastructure and facilitates the integration of advanced ground support equipment for enhanced operational efficiency.
The anticipated steady growth in the ground support equipment industry in North Jeolla is intricately tied to the region expanding aviation infrastructure. The rising number of airlines and airports underscores the demand for robust GSE solutions, essential for ensuring efficient and seamless operations. Beyond enhancing aviation sector prosperity, the GSE industry growth catalyzes broader economic development, fostering increased employment opportunities in North Jeolla. This aligns seamlessly with the region vision for a robust and competitive aviation industry. As North Jeolla continues to attract international interest and investment, the GSE sector emerges as a pivotal player, poised to shape the future trajectory of aviation in the region.
The table below highlights how airport service and non-electric power are likely to lead the equipment and power system in 2024.
| Category | Industrial Share in 2024 |
|---|---|
| Airport Service | 41.1% |
| Non-electric Power | 48% |
The projected substantial industrial share of 41.1% in the airport service category signifies the paramount role played by this sector in the industrial landscape. This dominance is attributed to the escalating demand for air travel globally. Investments in advanced ground support equipment, passenger services, and airport logistical operations are pivotal to ensuring seamless operations and enhancing the overall passenger experience. The significant share also underscores the industry's commitment to technological advancements, focusing on smart solutions, automated processes, and sustainable practices. The emphasis on sustainability aligns with environmental goals, reflecting the aviation sector's responsibility to reduce its ecological footprint and contribute to a greener future.
The use of non-electric power plays a crucial role in ensuring versatile and reliable ground handling operations. Many GSE units, such as baggage carts, aircraft tugs, and cargo handling equipment, are designed to operate using alternative power sources such as hydraulic systems, diesel engines, or compressed air. These non-electric power solutions provide essential flexibility in situations where access to electric power may be limited or impractical on the tarmac. Non-electric power systems contribute to the industry commitment to environmental sustainability by offering energy-efficient alternatives that reduce the overall carbon footprint of ground support operations at airports. The diversified approach underscores the aircraft ground support equipment industry adaptability and resilience to meet airports diverse operational needs and enhance overall efficiency.
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The competitive landscape for aircraft ground support equipment in Korea is driven by strategies focused on innovation, cost-effectiveness, and environmental sustainability. Industry players are emphasizing the development of cutting-edge GSE technologies to meet the evolving needs of the aviation sector. Efforts are directed toward providing efficient and reliable solutions to reduce operational costs. Additionally, a commitment to environmentally friendly practices is evident, with a focus on the adoption of sustainable GSE options. Collaborations and partnerships with key stakeholders in the aviation industry are key strategies to ensure a strong industry presence and satisfy the growing demand for advanced GSE solutions.
Recent Developments Observed in the Aircraft Ground Support Equipment in Korea
| Attribute | Details |
|---|---|
| Estimated Industry Size in 2024 | US$ 117.7 million |
| Projected Industry Size by 2034 | US$ 208.6 million |
| Anticipated CAGR between 2024 to 2034 | 5.9% CAGR |
| Demand Forecast for the Aircraft Ground Support Equipment in Korea | 2024 to 2034 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing the adoption of Aircraft Ground Support Equipment in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers |
| Key Provinces Analyzed |
|
| Key Companies Profiled |
|
The estimated valuation of the industry is US$ 117.7 million in 2024.
The anticipated CAGR for the industry through 2034 is 5.9%.
Demand for the industry in Korea is likely to surpass US$ 208.6 million by 2034.
The airport service is estimated to surpass the valuation of the cargo loading soon.
Non-electric is projected to remain a key contributor in Korea.
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Equipment
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Equipment, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Equipment, 2023 to 2033
5.3.1. Airport Service
5.3.1.1. Air Start Unit
5.3.1.2. De/anti-icing Vehicle
5.3.1.3. Ground Power Unit
5.3.1.4. Lavatory Service Vehicle
5.3.1.5. Refuelers
5.3.1.6. Rescue & Firefighting
5.3.1.7. Tugs & Tractors
5.3.1.8. Others
5.3.2. Cargo Loading
5.3.2.1. Belt Loaders
5.3.2.2. Cargo Dollies
5.3.2.3. Cargo Transporter
5.3.2.4. Catering Vehicle
5.3.2.5. Container Loader
5.3.3. Passenger Services
5.3.3.1. Airport Buses & Transport
5.3.3.2. Bed/Chair Lifts
5.3.3.3. Boarding Steps & Stairs
5.4. Y-o-Y Growth Trend Analysis By Equipment, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Equipment, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Ownership
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Ownership, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Ownership, 2023 to 2033
6.3.1. Leased GSE
6.3.2. Owned GSE
6.3.3. Rental GSE
6.4. Y-o-Y Growth Trend Analysis By Ownership, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Ownership, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Power
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Power, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Power, 2023 to 2033
7.3.1. Electric
7.3.2. Hybrid
7.3.3. Non - Electric
7.4. Y-o-Y Growth Trend Analysis By Power, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Power, 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022
8.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033
8.3.1. Commercial
8.3.2. Defense
8.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
8.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
9.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
9.3.1. South Gyeongsang
9.3.2. North Jeolla
9.3.3. South Jeolla
9.3.4. Jeju
9.3.5. Rest of Korea
9.4. Market Attractiveness Analysis By Region
10. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Equipment
10.2.2. By Ownership
10.2.3. By Power
10.2.4. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Equipment
10.3.2. By Ownership
10.3.3. By Power
10.3.4. By Application
10.4. Key Takeaways
11. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Equipment
11.2.2. By Ownership
11.2.3. By Power
11.2.4. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Equipment
11.3.2. By Ownership
11.3.3. By Power
11.3.4. By Application
11.4. Key Takeaways
12. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Equipment
12.2.2. By Ownership
12.2.3. By Power
12.2.4. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Equipment
12.3.2. By Ownership
12.3.3. By Power
12.3.4. By Application
12.4. Key Takeaways
13. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Equipment
13.2.2. By Ownership
13.2.3. By Power
13.2.4. By Application
13.3. Market Attractiveness Analysis
13.3.1. By Equipment
13.3.2. By Ownership
13.3.3. By Power
13.3.4. By Application
13.4. Key Takeaways
14. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Equipment
14.2.2. By Ownership
14.2.3. By Power
14.2.4. By Application
14.3. Market Attractiveness Analysis
14.3.1. By Equipment
14.3.2. By Ownership
14.3.3. By Power
14.3.4. By Application
14.4. Key Takeaways
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Equipment
15.3.3. By Ownership
15.3.4. By Power
15.3.5. By Application
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. HanilAero
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. YOUYANG GROUND SUPPORT EQUIMENT INC.
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. Hanjin Kal
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Aeromaster
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. JBT Corporation
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. Air T, Inc.
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. Textron, Inc.
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. China International Marine Containers (Group) Co., Ltd
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. Weihai Guangtai Airport Equipment Co., Ltd.
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. Cavotec SA
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
16.1.11. ALVEST Group
16.1.11.1. Overview
16.1.11.2. Product Portfolio
16.1.11.3. Profitability by Market Segments
16.1.11.4. Sales Footprint
16.1.11.5. Strategy Overview
16.1.11.5.1. Marketing Strategy
16.1.11.5.2. Product Strategy
16.1.11.5.3. Channel Strategy
16.1.12. Mulag Fahrzeugwerk Heinz Wössner GmbH u. Co. KG
16.1.12.1. Overview
16.1.12.2. Product Portfolio
16.1.12.3. Profitability by Market Segments
16.1.12.4. Sales Footprint
16.1.12.5. Strategy Overview
16.1.12.5.1. Marketing Strategy
16.1.12.5.2. Product Strategy
16.1.12.5.3. Channel Strategy
16.1.13. Tronair, Inc.
16.1.13.1. Overview
16.1.13.2. Product Portfolio
16.1.13.3. Profitability by Market Segments
16.1.13.4. Sales Footprint
16.1.13.5. Strategy Overview
16.1.13.5.1. Marketing Strategy
16.1.13.5.2. Product Strategy
16.1.13.5.3. Channel Strategy
16.1.14. Lektro Inc
16.1.14.1. Overview
16.1.14.2. Product Portfolio
16.1.14.3. Profitability by Market Segments
16.1.14.4. Sales Footprint
16.1.14.5. Strategy Overview
16.1.14.5.1. Marketing Strategy
16.1.14.5.2. Product Strategy
16.1.14.5.3. Channel Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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Aircraft Ground Support Equipment Industry Analysis in Korea
