Aircraft Towbars Market (2022 to 2027) – Growth, Trends, Opportunities, and Forecasts

Aircraft Towbars Market was valued at US$ 4.3 Bn. in 2021. The Global Aircraft Towbars Market size is estimated to grow at a CAGR of 4.18 % over the forecast period.
Aircraft Towbars Market Overview:
The Aircraft Towbars market analyzes and forecasts the market size, in terms of value, for the market. Further, the Aircraft Towbars Market is segmented by Product, Application, & Region. Based on Product, the Aircraft Towbars market is segmented under Conventional Towbars & Electric Towbars. Based on the Application, the market is segmented under the Civil & Commercial & Military & Defense. The market sizing and forecasts have been done for each segment based on value (in USD Billion).



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2021 is considered as a base year to forecast the market from 2022 to 2027. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Aircraft Towbars Market Dynamics:
The Growth in Preference for Air Travel:

Factors such as the growth of international travel, the tourism industry, higher disposable income, airline companies' competitive pricing for air travel, and an increase in facilities provided during air travel with a drastic reduction in travel time have all subsidized consumers' preferences for air travel. This is motivating airline carriers to deploy new aircraft, which is driving the aircraft tow-bar market forward.

Collaboration between Manufacturer & Distributor:

Aviation's long-term prospects are promising. Tier 1 and Tier 2 manufacturers are investing in technology and forming strategic partnerships with suppliers all over the world to meet the continuously growing demand for aircraft tow-bars. Manufacturers are collaborating with local suppliers to increase customer reach in markets by adding new clients to their list and increasing responsiveness and services to consumers in the global market. In the future years, the tendency will emerge as a competitive strategy, and it is seen across all key players in the aircraft tow bar market.

The Replacement Rate of Aircraft Towbars to affect the Market Growth:

Towbars and heads, like other aircraft handling equipment, are vulnerable to wear and damage over time. Equipment degrades over time for a variety of reasons, the most frequent of which are erosion and corrosion. The majority of aircraft tow bars are made of aluminum and steel. It corrodes owing to environmental factors, low-quality materials, and other factors. Since it protects million-dollar planes, the piece of equipment must be durable from strain and corrosion. As a result, damaged tow-bar products are frequently inspected by airplane towing operations managers and purchasing agents, resulting in a rise in the sale of aircraft tow-bar manufacturers.

Aircraft Towbars Market Trends:

One of the important reasons driving the growth of the airplanes towbars market during the forecast period is the constant increase in the number of low-cost carriers. Low-cost carriers will see a significant increase in demand in the coming years as air traffic grows and the desire for economical flights rises. Also, because of the increasing growth in international tourist and domestic air travel, low-cost carriers have had to expand their fleets to meet the need for aircraft towbars. During the forecast period, this is expected to raise the need for aircraft tow bars. Similarly, low-cost carriers' fees are cheaper than those charged by full-service airlines, which is attracting more consumers, particularly those traveling with a limited budget. As a result, with more low-cost carriers, such as Southwest Airlines, AirAsia, Indigo, and SpiceJet, planning to extend their aircraft fleets, the worldwide aircraft towbars market is expected to increase significantly through the forecast period.

The aircraft tow bar market in India has shown significant growth and development over the last decade, owing to an increase in air traffic. Through the forecast period, it is expected that the region's air traffic volume and fleet sizes will continue to expand at a CAGR of 3.6%, resulting in increased demand for Ground Support Equipment (GSE) services, which will lead to increased sales of aircraft tow-bar.

The dynamic growth of some of the UAE's globally known companies, such as Etihad Airways, Emirates, and others purchasing a bulk of large and narrow-body airlines for the future has revealed that the UAE has turned out to be a big market for the airline sector. Through the forecast period, the UAE region is expected to develop at a CAGR of 3.8 percent.
Aircraft Towbars Market Segment Analysis:
Based on Product, the Electric Towbars segment held the largest market share accounting for more than 50% in 2021. Increased speed, reliability, and comfort of handling are all contributing aspects for segment growth. As battery technology improves, the aviation industry is gradually shifting to electric ground support equipment. This expands the market for electric towbars. The aviation sector is steadily moving toward electric ground support equipment as battery technologies advance, from low-density lead-acid to high-energy lithium-ion with SiC films, affecting the acceptance and manufacture of electric aircraft towbars as a result.


Based on Application, the Military & Defence segment held a market share of 66% in 2021. The factors are attributed to the growth of segment are the growing tourism industry's use of aviation services. In addition, the growth of military aircraft and helicopters are expected to boost the demand for product through the forecast period.
Aircraft Towbars Market Regional Insights:
North America held the largest market share accounting for 37% in 2021. The market for aircraft towbars in this region will be boosted by early acceptance of emerging aviation technology, developing military bases and defence operations, increasing air traffic, and enabling smooth travel for people. The Europe region is expected to grow at a fastest CAGR of 4.48% through the forecast period, owing to the high technology adoption rate.

The objective of the report is to present a comprehensive analysis of the global Aircraft Towbars Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers.

The reports also help in understanding the Aircraft Towbars Market dynamic and structure by analyzing the market segments and projecting the Aircraft Towbars Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Aircraft Towbars Market make the report investor’s guide.
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Global Aircraft Towbars Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2027


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 4.3 Bn.


Forecast Period 2022 to 2027 CAGR:
4.18 %
Market Size in 2027:
US $ 5.5 Bn.


 Segments Covered:
by Product
• Conventional Towbars
• Electric Towbars


by Application
• Civil & Commercial
• Military & Defense



Aircraft Towbars Market by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Aircraft Towbars Market Key Players:
• Tronair
• Aero Specialities
• Brackett Aircraft
• AGSE
• K&M Airporttechnik
• Dedienne Aerospace
• Techman-Head Group
• Langa Industrial
• Textron GSE
• Makro Aero
• CYLDE Machines
• Hall Industries
• Shanghai Cartoo GSE
• JMS AG
• Cavotec SA

Frequently Asked Questions :

1) What segments are covered in the Aircraft Towbars Market report?
Ans: The segments covered in the Aircraft Towbars Market reports are based on the Product and Applications.

2) Which region is expected to hold the highest share in the Aircraft Towbars Market?
Ans: North America is expected to hold the highest share in the Aircraft Towbars Market.

3) What is the market size of the Aircraft Towbars Market by 2027?
Ans: The market size of the Aircraft Towbars Market by 2027 is expected to reach nearly US$ 5.5 Bn.

4) What is the forecast period for the Aircraft Towbars Market?
Ans: The forecast period for the Aircraft Towbars Market is 2022 – 2027.

5) What was the market size of the Aircraft Towbars Market in 2021?
Ans: The market size of the Aircraft Towbars Market in 2021 was valued at US$ 4.3 Bn.