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Future of Aircraft Tow Tractors Market 2018: Higher Consumer Preference for Air Travel to Augment Growth of Aircraft Tow Tractors

05-30-2018 03:00 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

Fact.MR

Fact.MR

Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of aircraft tow tractors market. The study is titled as “Aircraft Tow Tractors Market Forecast, Trend Analysis & Competition Tracking – Global Review 2018 to 2028”, which deeply analyses the global market trends, with historical data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2018-2028. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global aircraft tow tractors market.

Request TOC of this Report- https://www.factmr.com/connectus/sample?flag=T&rep_id=784

Aircraft Tow Tractors – A Strategic Move towards Saving Aviation Fuel

Initially airplanes travelled from airport gates towards runways using their own fuel. However, this became uneconomical as this kind of taxing, based on the size of aircrafts and distance, results in consumption of about one metric ton of fuel used in aircrafts. This led to the development of high powered, diesel-electric aircraft tow tractors that are attached to the nose wheel of the aircraft to pull the plane towards runways. As a result, the aircraft need not have to run on its engines during the process, consecutively saving aviation fuel. This is anticipated to fuel the adoption of aircraft tow tractors worldwide.

Higher Consumer Preference for Air Travel to Augment Growth of Aircraft Tow Tractors

Air travel continues to witness significant demand with increasing number of people opting for this mode of travel, be it business or leisure. According to International Air Transport Association (IATA), by 2036, around 7.8 billion passengers are expected to opt for air travel based on the 3.6 percent average CAGR that is being witnessed currently. However, this has a twofold impact, as increasing number of passengers has influenced higher production of aircrafts and at the same time, this is expected to pose challenges for the governments with respect to investments to meet the growing demand. Thus, the increasing number of airports and aircrafts have pushed the proliferation of aircraft tow tractors consecutively supporting the growth of the market during the period of assessment.

Future of Aircraft Tow Tractors Looks Promising in Developed Counties, Despite Initial Sluggishness

After a period of stagnation in 2016, aerospace sector is expected to witness steep growth. According to Oxford Economics, the industrial output of aerospace suppliers, especially in the United States, Japan and United Kingdom was sluggish in 2016 in value terms. However, in 2017, the output of aviation industry grew at a significant pace. For instance, a 2.9 percent growth in this sector was witnessed in Eurozone. Moreover, tis growth is expected to accelerate to 3.4 percent in2018 and anticipated to reach 3.5 percent in 2019. This has translated into increased expenditure on aircraft ground vehicles and equipment, and aircraft tow tractors are no exception.

Browse Report- https://www.factmr.com/report/784/aircraft-tow-tractors-market

Hybrids Complementing Environmental Sustainability

EPA (Environment Protection Act) has laid various norms and regulations regarding the carbon dioxide emissions from all types of vehicles in order to promote environment safety. Considering this protocol, manufacturers of aircraft tow tractors have developed hybrid electric push back tractors that are a reliable and efficient alternative to heavy duty diesel aircraft tow tractors to move aircrafts after landing and before taking-off. Manufacturing of these tractors were initiated to meet commitments to reduce the CO2 emissions from both aircrafts and ground vehicles. With this, manufacturers started developing advanced hybrid options thus spurring the traction of hybrid aircraft tow tractors during the assessment period.

High Demand for Safety and Reliability

Manufacturers of aircraft tow tractors are focusing on developing enhanced aircraft towing vehicles given the growing demand from aviation industry for higher safety and reliability aircraft tow tractors. Considering the fuel saving feature of aircraft tow tractors, key participants such as Siemens, Lufthansa LEOS, French TLD Group (a market leader in handling equipment used in airports), and Israel Aerospace Industries have been striving to develop environment friendly solutions that led to the development of aircraft tow tractors.

For instance, JBT has developed AgileAir – a diesel powered power cart for flight line and hangar support for military fighter aircrafts. It features computerized self diagnostics, enhanced power output options, reduced fuel consumption, enables ease in transportation and integrated bleed air and conditioned air combination.

Likewise, Siemens has developed a new diesel-electric aircraft tow tractor that can be controlled from the cockpit of the aircraft. TaxiBots, Siemens’s new innovation, saves fuel, extends maintenance intervals and eliminates noise. TaxiBots, owing to its enhanced efficiency has already been certified for Airbus 320 and this aircraft tow tractor is expected to safely pull around 70 percent of all the passenger plants across the globe. Moreover, aircraft tow tractors developed by Siemens feature powertrains that include electric motors, generators, converters and integration of software and electronics. Looking at the efficiency of TaxiBots, in 2017, the EASA (European Aviation Safety Agency) and FAA (Federal Aviation Administration) in the United States certified the tractor for Boeing 737. According to Lufthansa, at the Frankfurt Airport alone, these tractors facilitate saving of around 11,000 metric tons of aviation fuel each year. Such developments, in view of offering highly safe, durable, fuel efficient, fuel saving and reliable vehicles, are expected to boost the adoption of aircraft tractor vehicles in the coming years.

The report on aircraft tow tractors market includes analysis on key participants, their business scenarios, product developments and overall company overview. Siemens, JBT Aero, TLD Group, Eagle Tugs and Fresia SpA are few of the major participants. In addition, the report also covers analysis on emerging players in the aircraft tow tractors market.

Pre-book Global Aircraft Tow Tractors Market Forecast Report- https://www.factmr.com/checkout/784/S

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized automotive market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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