Global Aircraft Towbars Market 2019-2023
About Aircraft Towbars
Aircraft towbars are often used for tugging or towing aircrafts at airports. They comprise both conventional and electric aircraft towbars.
Technavio’s analysts forecast the global aircraft towbars market to grow at a CAGR of 2.50% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global aircraft towbars market for 2019-2023. To calculate the market size, the report considers the revenue generated from the sales of electric and conventional towbars sold across different geographies.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aircraft Towbars Market 2019-2023
Technavio recognizes the following companies as the key players in the global aircraft towbars market: Brackett Aircraft Company, HYDRO SYSTEMS, K&M Airporttechnik, Techman-Head Group, Tronair.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increasing demand for electric aircraft towbars. With the increasing environmental concerns, there has been a shift to electric towbars from conventional towbars.”
According to the report, one of the major drivers for this market is the rise in demand from developing countries. To address the rising air traffic and enable seamless travel for people, governments in developing countries are planning to build new airports, in turn, creating the demand for more aircrafts further propelling the demand for aircraft towbars.
Further, the report states that one of the major factors hindering the growth of this market is the increasing threat from substitutes. For instance, the tug-less towbar is one of the major substitutes of aircraft towbars as it helps in picking up the wheel of the aircraft hydraulically.
Brackett Aircraft Company