The global aircraft towing equipment market is estimated to register a CAGR of 7% during the forecast period. :

Pune, India, 4 December 2018/MRFR Press Release/- Market Research Future published a half-cooked research report on the global aircraft towing equipment market. The aircraft towing equipment market is estimated to register a CAGR of more than 7% during the forecast period of 2018 to 2023.

Market Highlights

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.

In 2017, North America accounted for the largest market share, whereas, Asia-Pacific is projected to be the fastest-growing regional market during the review period.

Drivers:

Aircraft Towing Equipment Market

Key Players

The key players in the global aircraft towing equipment market are Douglas Equipment Ltd (UK), Aero Specialties, Inc. (US), Cavotec SA (Switzerland), Avia Equipment Pte Ltd (Singapore), Flightline Support Ltd (UK), Imai Aero-Equipment Mfg Co. Ltd (Japan), Gate GSE (Belgium), JBT Corporation (US), Weihai Guangtai Airport Equipment Co., Ltd (China), and MULAG Fahrzeugwerk GmbH (Germany).