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Impact Of The War In Ukraine On The Aircraft Towbars Market Analysis, Applications, Growth, Trends By 2033
Aircraft Towbars Market Analysis
As per the report, the aircraft towbars market size has grown strongly in recent years. It will grow from $2.87 billion in 2023 to $3.01 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The aircraft towbars market size is expected to see steady growth in the next few years. It will grow to $3.6 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%.
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Surge In Air Traffic Fuels Expansion Of The Aircraft Towbars Market
The increasing air traffic is expected to propel the growth of the aircraft towbars market going forward. Air traffic refers to aircraft movement in airspace, including take-offs, landings, and end-route flights. Aircraft towbars encompass the management and control of aircraft operations to ensure safe and efficient air transportation. Due to increasing air traffic, airlines primarily use aircraft towbars for ground handling operations, specifically for moving or towing aircraft regularly, such as moving aircraft from one location to another, positioning aircraft for loading and unloading, and helping with pushback and other aircraft maintenance. For instance, in May 2022, according to the reports shared by the Bureau of Transportation Statistics., a US-based government agency, U.S. airlines carried 194 million more passengers in 2022 than in 2021, a 30% increase year on year. The number of passengers carried by U.S. airlines from January through December of 2022 totalled 853 million (unadjusted), up from 658 million in 2021 and 388 million in 2020. Therefore, increasing air traffic is driving the growth of the aircraft towbars market.
Menzies Aviation Limited And Emirates Group Collaboration
Strategic partnerships are a key trend gaining popularity in the aircraft towbars market. Major companies operating in the aircraft towbars market are forming partnerships and collaborative relationships to sustain their position in the market. For instance, in March 2023, Barfield Inc., a US aviation company, partnered with Dedienne Aerospace., a France-based aerospace maintenance tooling company. This partnership aims to provide services and distribute ground support test equipment. Also, it is expected to strengthen both companies' positions in the US. Furthermore, in April 2021, Menzies Aviation Limited., a UK-based logistics and airport services company, partnered with Emirates Group, a United Arab Emirates-based aviation company. With this partnership, they aim to provide ground-handling services. It will cover all aspects of ground handling, including passenger handling, ramp handling, cargo handling, and fueling, using such equipment as aircraft towbars and more.
The aircraft towbars market covered in this report is segmented -
1) By Product Type: Multi-Head, Standard And Universal
2) By Towbar Mechanism: Conventional Towbars, Towbarless Aircraft Tractors, Electric Towbars
3) By Material Type: Aluminum, Steel
4) By Tow-Head Type: Shear Pin, Clamp
5) By End-User: Airlines, Ground Handling Service Providers, Military And Defense
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Major companies operating in the aircraft towbars market report are Makro Aero, John Bean Technologies Corporation, Textron Ground Support Equipment Inc., Weihai Guangtai Airport Equipment Co. Ltd., Tronair Inc., Red Box International Limited, Goldhofer AG, Clyde Machines Inc., Hydro Systems USA Inc., SAE International, Cavotec SA, Harlan Global Manufacturing LLC, Dedienne Aerospace SAS, DENGE Airport Equipment,AERO Specialties Inc., Aero Pacific Corporation, TLD Group, Aeroservicios USA Inc., Aircraft Spruce & Specialty Co.,Techman-Head Group, Eagle Tugs, Zenith Aircraft Company, Aviation Ground Equipment Corp., Minimax Aircraft Tug LLC, JMS AG, Brackett Aircraft Company, K & M airporttechnik GmbH, Langa Industrial SA, Hall Industries Inc., HYDRO Systems KG.
Contents of the report:
1. Executive Summary
2. Aircraft Towbars Market Report Structure
3. Aircraft Towbars Market Trends And Strategies
4. Aircraft Towbars Market - Macro Economic Scenario
5. Aircraft Towbars Market Size And Growth
…..
27. Aircraft Towbars Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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