The Ground Power Unit market was valued at USS 629 million in 2019 and expected to grow at a CAGR of 9.19% during the forecast period from 2020 to 2027 to reach USD 930 million in 2027.
A ground power unit is a force providing unit for airplane while it is stopped on ground. A ground power unit can be fixed or versatile. Ground power unit can be associated with electrical arrangement of an airplane to flexibly 120V AC or 28V DC power. A GPU, much dissimilar to your normal private force gracefully, is exceptional in that it conveys a quite certain “swell free” or “clean” voltage, this ensures wellbeing of complex control gathering and flight inside the Aircraft while performing upkeep and motor turning over activities utilizing GPU. Ground power unit normally comprises of a diesel motor however can likewise be found in different arrangements excessively, for example, battery fueled GPU, (for example, lead-corrosive or lithium batteries) or an immediate lattice based force gracefully. Direct lattice-based GPU is commonly found in enormous business air terminals as it were. Fixed ground power units may likewise be incorporated into the jetway, making it considerably simpler to flexibly electrical capacity to airplane.
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Key Trends in Global Ground Power Unit Market
Avionics industry if developing at a fast walk about the world. In 2019, aircrafts overall extended 4 billion travelers. They moved more than 55 million tons of cargo on 37 million business flights. Number of air travelers has reached to more than 10 million travelers while, air freight transports products worth USD 18 billion consistently. With this achievement come genuinely necessary, huge capital uses into new hardware and innovation to keep on keeping up security and proficiency because of recently conceded gear overhauls. Development of flying industry everywhere on the world fuelling the development for ground activities and greatness of support administrations. Air terminal specialists and carriers are expanding zeroing in on ground taking care of and upkeep of tasks. Drop in air charge have helped the quantity of travelers favoring carrier administrations, bringing about the ascent in number of homegrown just as global flights. Expanding air traffic and interest for airplane ground uphold gear fills couple. Besides, popularity for quality and specific security in military airplane dealing with has driven the market for military airplane ground uphold hardware lately.
Impact of COVID 19 on Global Ground Power Unit Market
COVID 19 has left an unparalleled impact on growth of global Ground Power Unit industry. The global Ground Power Unit has witnessed very severe setback like never before. The demand for Ground Power Unit is expected to be plunged by almost 20% in 2020, in terms of both volume as well as revenue. However, with the beginning of unlock process across the world and anticipation of COVID 19 vaccine to be launched during first half of 2020 is expected to bring recovery in demand for Ground Power Unit.
Global Ground Power Unit Market by Type Insights
Based on its type, the global Ground Power Unit market can be segmented into flexible and fixed. By type, mobile Ground Power Unit dominated the global market with over 60% share in 2019. It is also expected to keep its dominance over the forecast period and expected to exhibit the fastest CAGR over the forecast period.
Global Ground Power Unit Market by Application Insights
Based on its applications, the global Ground Power Unit market can be segmented into Civil Airports, Military Airports, Business Airports and Others. By application, civil airports segment was largest segment in 2019 with over 50% share in total revenue generated by this industry. Military airport was the second leading segment in 2019, which is closely followed by business airports.
Global Ground Power Unit Market by Regional Insights
By region, North America dominated the global Ground Power Unit market with over 45% share in 2019. However, Asia Pacific is expected to exhibit strong growth during the forecast period. North America is most dominating region in aviation industry with highest number of airports and flits being operated in every segment including civil, military, cargo as well as private. Financial development and practical of air travel in the locale have come about into developing number of air voyagers, which thus foreseen to fuel the interest for airplane and their ground uphold units. Enormous number of dispatch and payload organizations are promoting altogether in air transport to build their scope and cut down their conveyance time. With most noteworthy number of air terminals and biggest number of flights starting point and ordained, the interest for ground uphold hardware including GPU’s is on higher side in the locale for recent many years. This away from of North America is foreseen to continue over the estimate time frame and prone to be significant development driving variable for worldwide ground power unit industry. A large portion of this development in the locale is coming from U.S., which represents over 80% offer in the absolute GPU market in the district.
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Global Ground Power Unit Market Competitive Landscape
Global Ground Power Unit market is fragmented and characterized by the presence of large number of players such as John Bean Technologies Ltd, TLD GSE, ITW GSE, Powervamp Ltd, Acsoon, Textron GSE, Tronair, Guinault, Velocity Airport Solutions, MAK Controls and Systems Private Limited and Others. All the major players are focusing on development of innovative products. The global Ground Power Units market is highly moderately concentrated and characterized by the presence of large number of companies around the world.
Market Segmentation
Global Ground Power Unit Market by Type, 2015 – 2027
· Fixed
· Mobile
Global Ground Power Unit Market by Application, 2015 – 2027
· Civil Airports
· Military Airports
· Business Airports
· Others
Global Ground Power Unit Market by Region, 2015 – 2027
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
Global Ground Power Unit Market: Key Players
· John Bean Technologies Ltd
· TLD GSE
· ITW GSE
· Powervamp Ltd
· Acsoon
· Textron GSE
· Tronair
· Guinault
· Velocity Airport Solutions
· MAK Controls and Systems Private Limited
· Others
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