Report ID: UCMIR20A2166
Report ID:
UCMIR20A2166 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The Asia Pacific region is currently experiencing the most rapid expansion within the global ground support equipment market, with a projected compound annual growth rate (CAGR) of 6.75% expected during the forecast period. This growth is contributing to the overall market, which is estimated to increase from USD 7.14 billion in 2022 to USD 13.32 billion by 2031. In response to this trend, prominent market players in the region are boosting their research and development investments to introduce innovative services. Additionally, the substantial investments in new airport projects, particularly in developing nations like India, are fueling the demand for enhanced ground support equipment.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Aerospace & Defense by segment aggregation, the contribution of the Aerospace & Defense in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIR20A2166