Global Aircraft Towing Equipment Market: Information by Equipment Type (Towbar Tractors and Towbarless Tractors), Mode of Propulsion (Non-Electric, Electric, and Hybrid Propulsion), End User (Commercial and Military), and Region—Forecast till 2023
The Market is Expected to Register a CAGR of over 7% during the Review Period.
We recognize the key players in the global aircraft towing equipment market as Aero Specialties, Inc. (US), Avia Equipment Pte Ltd (Singapore), Douglas Equipment Ltd (UK), Cavotec SA (Switzerland), Flightline Support Ltd (UK), Imai Aero-Equipment Mfg Co. Ltd (Japan), MULAG Fahrzeugwerk GmbH (Germany), JBT Corporation (US), Gate GSE (Belgium), and Weihai Guangtai Airport Equipment Co., Ltd (China).
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The global aircraft towing equipment market has been segmented based on equipment type, mode of propulsion, end user, and region. North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America are the various regions considered for this report. The global aircraft towing equipment market is projected to register an over 7% CAGR from 2018 to 2023.
The North American market for aircraft towing equipment is expected to grow substantially during the forecast period. In 2017, the North American market accounted for the largest share, with the US accounting for the greater share of the regional market owing to the presence of key manufacturers such as Aero Specialties, Inc. and JBT Corporation.
In Europe, market growth is driven by Germany, the UK, France, and Italy. Germany is estimated to be the fastest-growing country-level market in the region. In 2017, there were over 4,500 aircraft operating in the region, which is expected to reach 8,000 by 2035. This will create a demand for towing equipment during the review period.
Asia-Pacific is projected to be fastest-growing regional aircraft towing equipment market during the review period. China, Japan, India, and Australia are expected to contribute significantly to the growth of the regional market. China accounted for the largest market share in 2017. With an increase in the number of aircraft, there would be a greater need for aircraft safety at airports, which is expected to drive market growth in the region. Moreover, over the last few years, there have been significant investments in R&D by equipment manufacturers in China and India.
The market in the Middle East & Africa is projected to register significant growth during the forecast period. Egypt and Israel are looking to invest heavily in the design and manufacture of aircraft towing equipment.
The global aircraft towing equipment market has been segmented on the basis of equipment type, mode of propulsion, end user, and region.
By equipment type, the market has been classified as towbar tractors and towbarless tractors. The towbar tractors segment accounted for the larger market share while the towbarless tractors segment is projected to register the higher CAGR during the review period. The growth of the towbarless tractors segment can be attributed to the rise in demand for advanced technology to move the heavy aircraft in a short time span.
Based on mode of propulsion, the market has been divided into non-electric, electric, and hybrid. The hybrid segment is expected to be the fastest-growing segment during the review period. The use of hybrid propulsion systems in towing tractors is propelling the growth of the segment. The non-electric segment is projected to be the largest market during the review period.
Based on end user, the market has been categorized as commercial and military. The commercial end user segment is expected to be the largest, whereas the military end user segment is projected to be the fastest-growing during the forecast period. With a rise in the number of military aircraft, the frequency of aircraft or flight movements is also rising, which is expected to result in a rise in the demand for military aircraft towing equipment.
Table of Content:
1. Executive Summary
2. Scope of The Report
2.1. Market Definition
2.2. Scope of The Study
2.2.2. Research Objective
2.2.3. List of Assumptions
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
4. Market Landscape
4.1. Porter’s Five Forces Analysis
4.1.1. Threat of New Entrants
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of Substitutes
4.1.4. Segment Rivalry
4.1.5. Bargaining Power of Supplies
4.2. Value Chain/Supply Chain Analysis
Continued. . .
List of Tables:
Table 1 Global Aircraft Towing Equipment Market, By Region, 2018–2023
Table 2 North America: Aircraft Towing Equipment Market, By Country, 2018–2023
Table 3 Europe: Aircraft Towing Equipment Market, By Country, 2018–2023
Table 4 Asia-Pacific: Aircraft Towing Equipment Market, By Country, 2018–2023
Table 5 Middle East & Africa: Aircraft Towing Equipment Market, By Country, 2018–2023
Table 6 Latin America: Aircraft Towing Equipment Market, By Country, 2018–2023
Table 7 Global Aircraft Towing Equipment Mode of Propulsion Market, By Region, 2018–2023
Table 8 North America: Aircraft Towing Equipment Mode of Propulsion Market, By Country, 2018–2023
Table 9 Europe: Aircraft Towing Equipment Mode of Propulsion Market, By Country, 2018–2023
Table 10 Asia-Pacific: Aircraft Towing Equipment Mode of Propulsion Market, By Country, 2018–2023
Continued. . .
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