Aircraft towing equipment is ground support equipment used to move aircraft. It is used to decrease fuel consumption when an aircraft is on ground. The major drivers for the growth of the aircraft towing equipment market are the rising demand for hybrid and electric aircraft towing equipment, technological developments, increase in air passenger and cargo traffic, and the growing number of airlines and airports. The aircraft towing equipment market has been segmented by equipment type, mode of propulsion, end user, and region. Based on equipment type, the market has been divided into towbar tractors and towbarless tractors. In 2017, the towbar tractors segment accounted for the larger market share. However, the towbarless tractors segment is estimated to be the faster-growing market during the forecast period as these tractors offer increased efficiency and are cost-effective as compared to towbar tractors. By mode of propulsion, the market has been classified as non-electric, electric, and hybrid. In 2017, the electric segment accounted for the largest market share. The hybrid segment is projected to register the highest CAGR during the review period. This can be attributed to the increased demand for hybrid tractors as they run on twin-powered engines (gasoline engine and electric motor), thereby, reducing fuel consumption and conserving energy. Based on end-user, the market has been categorized as commercial and military. In 2017, the commercial segment accounted for the larger market share and is estimated to be the faster-growing during the forecast period. An increase in the number of commercial aircraft across the globe is propelling the growth of the segment. The aircraft towing equipment market has also been studied for four regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to account for the largest market share during the review period owing to the presence of major aircraft towing equipment manufacturers such as JBT Corporation and Tug Technologies Corporation in the region. Asia-Pacific is estimated to be the fastest-growing regional market during the forecast period due to a rise in the number of airports in the region. The aircraft towing equipment market is estimated to register a CAGR of more than 7% during the forecast period of 2018 to 2023.
The key players in the global aircraft towing equipment market are Avia Equipment Pte Ltd (Singapore), Aero Specialties, Inc. (US), Cavotec SA (Switzerland), Douglas Equipment Ltd (UK), Flightline Support Ltd (UK), Gate GSE (Belgium), Imai Aero-Equipment Mfg Co. Ltd (Japan), JBT Corporation (US), MULAG Fahrzeugwerk GmbH (Germany), and Weihai Guangtai Airport Equipment Co., Ltd (China).
Scope of the Report
This study provides an overview of the global market has three market segments across five regions. The report studies the key players, providing a five-year annual trend analysis that highlights market size, volume, and share in North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years in each region. The study segments the global market by equipment type, mode of propulsion, end-user, and region Equipment Type
Mode of Propulsion
The market can expect to advance at rate of 7% in the near future.
The commercial segment is the leading end-user in the market.
APAC can expand at the highest rate during the analysis period.
The propulsion-based segments considered in the report are non-electric, electric, and hybrid.
The towbarless tractors segment can surge at the fastest rate.