The latest market report published by Credence Research, Inc. “Global Ground Power Unit Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. Market value of Ground Power Unit reached to USD 500 million with decline of more than 20% in 2020. However, the market is projected to pick up the pace towards second half of 2021 and likely to exhibit CAGR of over 8.5% to garner market value of USD 870 million by 2027.
Global Ground Power Unit Market, 2015 – 2027 (USD Million)
Browse the full report at https://www.credenceresearch.com/report/ground-power-unit-gpu-market
Ground Power Unit is an external source of power required to carry out maintenance activities when an aircraft is grounded. A Ground Power Unit can be typically 28V DC or 128V AC electric systems. Diesel powered Ground Power Units used to rule the industry so far. However, emergence of battery powered or hybrid Ground Power Units are considered to be future of the industry. Ground Power Units are mainly used to ensure clean and ripple free voltage to supply power to aircraft on ground.
Leasing to Lift Demand Mobile Ground Power Units
Ground Power Units are very costlier equipment’s with heavy maintenance cost. Small and medium airports with limited number of regular flights, its difficult to bear such a heavy expenditure. Moreover, rapid rate of technology being absolute there is continuous pressure on airport authorities to experience loss of capital if invested in such an expensive equipment’s. In the light of this, most of the airport operators preferred to have Ground Power Units on lease. Leasing is very economical way to own Ground Power Units with an option to switch to new technology at any point of time. Mobile Ground Power Units are vey suitable for the airports and leasing companies to operate. Hence, mobile Ground Power Unit are increasingly being preferred over fixed Ground Power Units by medium and smaller airports.
Go Green Movement to Topple the Diesel-Powered Ground Power Unit
Ground Power Units can be diesel powered or battery powered. Batteries used in Ground Power Units can lithium-ion battery or lead acid battery. Increasing trend towards lowering the carbon foot print on environment, most of the airports are opting for the Ground Power Units powered by batteries or direct grid-based powers supply. This in turn likely to result in declining demand for Ground Power Units powered by diesel. However, diesel powered Ground Power Units will not disappear overnight and will be remain in operations predominantly in emerging and underdeveloped economies.
Civil, defense/military, business and private airports are the major consumers of Ground Power Units. Civil airports held the largest chunk of Ground Power Units industry in 2020 with over 40% share in the revenue and likely to increase its share over the forecast period. With increasing boost to the infrastructure development in the regions, the number of new civil airports are likely to open in the near future. Moreover, increasing cross border disputes have led to development of military airports in Asia Pacific will also trigger the demand for Ground Power Units in the region.
North America to Remain Largest Market for Ground Power Unit
North America is largest market for Ground Power Units with over 40% share in total revenue generated by this industry in 2020. However, Asia Pacific is expected to exhibit strong growth during the forecast period. The global Ground Power Units market is highly moderately concentrated and characterized by the presence of large number of companies around the world.
Tronair, Guinault, Velocity Airport Solutions, MAK Controls and Systems Private Limited, Powervamp Ltd, Acsoon, John Bean Technologies Ltd, TLD GSE, ITW GSE and Textron GSE are some of the leading players operating in the global Ground Power Units industry. John Bean Technologies Ltd, TLD GSE and ITW GSE are the most dominant players with over 28% share in total revenue generation in 2020. Most of players are incurring heavy investment on research & development to develop battery powered as well as hybrid Ground Power Units. Within battery operated Ground Power Units, major focus has been remained on lithium-ion battery as it offers the most environment friendly power source to aircrafts when they are grounded.
Global Ground Power Units Market by Type, 2015 – 2027
Global Ground Power Units Market by Application, 2015 – 2027
· Civil Airports
· Military Airports
· Business Airports
Global Ground Power Units Market by Company, 2018 – 2020
· John Bean Technologies Ltd
· TLD GSE
· ITW GSE
· Powervamp Ltd
· Textron GSE
· Velocity Airport Solutions
· MAK Controls and Systems Private Limited
Global Ground Power Units Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East
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