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
global aircraft towing equipment market that contains information from 2018 to 2023. The market is expected to register a CAGR of over 7% during the review period.
The global aircraft towing equipment market has been segmented based on equipment type, mode of propulsion, end user, and region.
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North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America are the various regions considered for this report.
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.
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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