The Business Research Company’s Aircraft TowbarsGlobal Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Aircraft TowbarsGlobal Market Report 2023evaluates aircraft towbars market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global aircraft towbars market is expected to grow from $2.71 billion in 2022 to $2.87 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aircraft towbars market is expected to reach $3.42 billion in 2027 at a CAGR of 4.5%.
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 takeoffs, 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 totaled 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.
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The aircraft towbars market segments in the report are:
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
The table of contents in TBRC’s aircraft towbars market report includes:
1. Executive Summary
2. Aircraft Towbars Market Characteristics
3. Aircraft Towbars Market Trends And Strategies
4. Aircraft Towbars Market – Macro Economic Scenario
5. Impact Of High Inflation On Online Therapy Services Market
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32. Global Aircraft Towbars Market Competitive Benchmarking
33. Global Aircraft Towbars Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Aircraft Towbars Market
35. Aircraft Towbars Market Future Outlook and Potential Analysis
36. Appendix
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