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Ground Support Equipment Market to Reach $14.2 billion, Globally, by 2032 at 6.2% CAGR: Allied Market Research
Allied Market Research published a report, titled, “Ground Support Equipment Market by Type (Powered ground support equipment (GSE), Non-powered ground support equipment (GSE)), by Application (Aircraft Handling, Passenger Handling, Cargo Handling), by Power Source (Electric, Non-electric, Hybrid): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the ground support equipment market was valued at $8.0 billion in 2022, and is estimated to reach $14.2 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032.
Prime determinants of growth
Growth of the global ground support equipment market is driven by factors such as increase in air traffic and cargo, modernization and expansion of airports, rise in focus of airports on enhancing operational efficiency, and high service standards. However, high initial investment hamper the market growth. On the contrary, increase in focus towards procurement of greener GSE and surge in demand for customized and specialized ground support equipment are expected to offer remunerative opportunities for the expansion of the ground support equipment market during the forecast period.
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136 – Tables
45 – Charts
210 – Pages
Report coverage & details:
Report Coverage
Details
Forecast Period
2023–2032
Base Year
2022
Market Size in 2022
$8.0 billion
Market Size in 2032
$14.2 billion
CAGR
6.2 %
No. of Pages in Report
210
Segments Covered
Type, Application, Power Source, and Region.
Drivers
Increase in air traffic and cargo
Modernization and expansion of airports
Rise in focus of airports on enhancing operational efficiency, and high service standards
Opportunities
Increase in focus towards procurement of greener GSE Surge in demand for customized and specialized ground support equipment
Restraints
High initial investment
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Impact of Russia-Ukraine War Scenario
The invasion of Ukraine by Russia on February 24, 2022, triggering the Russo-Ukrainian war that began in 2014, is expected to have potential negative implication for the ground support equipment market. The Russia–Ukraine war is expected to disrupt the global supply chain for components and equipment crucial in ground support equipment (GSE) manufacturing. Russia and Ukraine, pivotal manufacturing centers for various industries such as aerospace and automotive sectors, provide essential components for GSE production. Disruptions in manufacturing facilities, transportation networks, and logistics routes in these countries may result in delays in GSE equipment production and delivery.
In addition, instability in the region may cause fluctuations in raw material and commodity prices used in GSE manufacturing. Heightened geopolitical tensions can induce market uncertainties, leading to increased material costs and impacting the production expenses of GSE manufacturers. Thus, resulting in elevated prices for GSE equipment, affecting both profitability and affordability for buyers.
The powered ground support equipment segment to maintain its leadership status during the forecast period.
By type, the powered ground support equipment segment held the highest market share in 2022, accounting for more than three-fifth of the global ground support equipment market revenue, and is estimated to maintain its leadership status during the forecast period, as there is demand for powered GSE to handle the higher workload efficiently with the increase in volume of air traffic and cargo. Moreover, the powered ground support equipment segment is projected to attain the highest CAGR of 6.5% from 2023 to 2032, owing to development of more efficient and environmentally friendly powered GSE with the advancement in technology.
The aircraft handling segment to maintain its leadership status throughout the forecast period.
By application, the aircraft handling segment held the highest market share in 2022, accounting for more than two-fifth of the global ground support equipment market revenue and is estimated to maintain its leadership status during the forecast period as efficient aircraft handling services demand increases at airports to manage the higher volume of arrivals, departure due to rise in air travel. However, the cargo handling segment is projected to attain the highest CAGR of 7.4% from 2023 to 2032, owing to the exponential growth of e-commerce.
The non-electric segment to maintain its lead position during the forecast period
By power source, the non-electric segment accounted for the largest share in 2022, accounting for nearly three-fourth of the global ground support equipment market revenue and is estimated to maintain its lead status during the forecast period as the non electric ground support equipment provides benefits such as lower upfront costs, high longer operating ranges. However, the electric segment is projected to attain the highest CAGR of 8.9% from 2023 to 2032, owing to increase in focus to decrease carbon footprint and comply with environmental regulations.
North America to maintain its dominance by 2032
Region-wise, North America held the highest market share in terms of revenue in 2022, accounting more than two-fifth of the ground support equipment market revenue and is likely to dominate the market during the forecast period, owing to consistent demand for GSE in North America to support airport operations, including aircraft handling, cargo handling, and passenger services. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.9% from 2023 to 2032, owing to expansion of air travel, cargo transportation, and infrastructure development.
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Leading Market Players:
AERO SPECIALTIES, INC.
Cavotec SA
Textron GSE
Flightline Support Ltd.
GATE GSE
Imai Aero-Equipment Mfg. Co., Ltd.
JBT Corporation
Mallaghan
TLD
Guangtai
The report provides a detailed analysis of these key players of the global ground support equipment market. These players have adopted various strategies such as partnerships, acquisition, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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The post Ground Support Equipment Market to Reach $14.2 billion, Globally, by 2032 at 6.2% CAGR: Allied Market Research appeared first on HIPTHER Alerts.
Sainsbury’s, a prominent UK supermarket chain, is set to leverage Microsoft’s artificial intelligence and machine learning tools to elevate its store operations and provide customers with a more engaging and convenient shopping experience.
As part of its strategic initiative, the ‘Next Level Sainsbury’s strategy’, the supermarket will integrate generative AI, powered by Microsoft Azure, to enhance its online shopping platform and optimize customers’ search experience. By harnessing AI capabilities, Sainsbury’s aims to offer a more interactive and personalized online shopping journey for its millions of customers across the UK.
In addition to enhancing the online shopping experience, Sainsbury’s plans to equip its store colleagues with real-time data and insights to streamline in-store processes such as shelf replenishment. Leveraging multiple data inputs, including shelf-edge cameras, AI technology will guide colleagues on prioritizing restocking activities, thereby improving efficiency and productivity.
Over the next five years, Sainsbury’s will deploy Microsoft Azure to implement these initiatives, integrating data assets with Microsoft 365 collaboration tools to drive innovation and operational excellence.
Clodagh Moriarty, Chief Retail and Technology Officer at Sainsbury’s, expressed confidence in the collaboration with Microsoft, emphasizing its role in accelerating the supermarket’s ambition to become the UK’s leading AI-enabled grocer. Moriarty highlighted the strategic investment in transformative capabilities, aimed at enhancing efficiency, productivity, and customer service while delivering value to shareholders.
Clare Barclay, CEO of Microsoft UK, commended Sainsbury’s visionary approach, noting its commitment to placing AI at the forefront of its business strategy. Barclay expressed enthusiasm for the collaboration, emphasizing its potential to revolutionize the retail experience for both customers and store colleagues.
The partnership between Sainsbury’s and Microsoft signifies a significant step towards ushering in the next generation of retail, powered by innovative AI-driven solutions.
Source: technologyrecord.com
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Artificial intelligence has made remarkable strides, from passing bar exams to reading bedtime stories with emotion. Yet, despite these feats, it still falls short of matching the intricate nuances of human communication—particularly, the art of sarcasm.
However, researchers in the Netherlands are determined to change that narrative. They have developed an AI-driven sarcasm detector that can discern when sarcasm is being used, a feat previously thought to be exclusive to human cognition.
Matt Coler, from the University of Groningen’s speech technology lab, expresses excitement about the project’s progress. He emphasizes the importance of understanding sarcasm, a pervasive aspect of human discourse, to facilitate seamless communication between humans and machines.
Recognizing sarcasm poses challenges due to its subtlety, especially in text-based interactions where cues like tone and facial expressions are absent. To overcome this, researchers trained their AI using a combination of text, audio, and emotional content from popular sitcoms like Friends and The Big Bang Theory.
The AI, trained on annotated data from these shows, demonstrated an impressive ability to detect sarcasm in unlabelled exchanges from the sitcoms, achieving an accuracy rate of nearly 75%. Further enhancements are underway, including incorporating visual cues like eyebrow movements and smirks, to improve accuracy even more.
Beyond enhancing interactions with AI assistants, this technology holds potential for detecting negative language and identifying instances of abuse or hate speech. However, as AI becomes more adept at understanding sarcasm, questions arise about its potential to wield sarcasm itself.
Coler muses about the implications of machines responding with sarcasm, raising concerns about clarity in communication. Nonetheless, advancements in AI-driven sarcasm detection offer promising prospects for improving human-machine interactions and bridging the gap between artificial and human intelligence.
Source: theguardian.com
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Issues surrounding bias in AI are deeply rooted in the accuracy, trustworthiness, and quality of data, which, if overlooked, can significantly skew outcomes. Lyndsey Jones, an AI author and transformation coach, delves into these concerns, offering valuable insights for newsrooms on monitoring and reviewing data.
Madhumita Murgia, an AI journalist and the first artificial intelligence editor of the Financial Times, sheds light on how women, migrants, precarious workers, and minority groups are disproportionately affected by the technical limitations of Generative AI. Murgia emphasizes the lack of representation of these groups in the development process of AI technologies, highlighting the need for inclusive participation.
WAN-IFRA Women In News workshops on the Age of AI in the newsroom have brought bias effects to the forefront. Through the Digital ABCs training program, media professionals are equipped with skills to navigate the digital landscape and drive organizational change.
A newly launched module focuses on AI, with over 100 participants in eastern Europe taking part, now extended to journalists in parts of Africa, the Middle East, and Southeast Asia. Instances of bias surfaced during the training, such as generating offensive avatars and misinterpretation of accents in AI tools.
Google CEO Sundar Pichai’s acknowledgment of biased AI tools reflects ongoing concerns in the industry. Timnet Gebru’s dismissal from Google for highlighting biases further underscores the need for vigilance in addressing these issues.
Diverse teams in WIN’s Age of AI program are experimenting with various tools like fact-checking and enhancing staff skill sets in AI usage. Projects under consideration for further EU funding include a video lab for content amplification and an AI avatar for journalist safety.
Media companies must ensure diverse staff collaboration when testing AI tools. Quotas for women in AI research and cross-border partnerships may be necessary for smaller media groups to compete effectively.
Journalists can take steps to improve content quality by examining storytelling practices and ensuring diversity in sources and representation. Consistency of data collection across departments and assessing biases in data sets are crucial for ethical AI usage in journalism. Ultimately, AI tools should be used to enhance journalism’s quality and integrity, rather than generating clickbait or misinformation.
Source: wan-ifra.org
The post AI, bias and experiments: how Women in News is tackling tech’s inbuilt stereotypes appeared first on HIPTHER Alerts.
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