NEWARK, Del, Nov. 21, 2022 (GLOBE NEWSWIRE) -- The global aircraft pushback tugs market is projected to reach a value of US$ 6.5 Bn by 2032, with sales growing at a reasonable CAGR of 5.4% from the forecast period of 2022 to 2032. The progress and advances witnessed by the global aviation industry will likely fuel the growth of the aircraft pushback tugs market during the forecast period.
Special vehicles or ground support equipment used for pushing or towing aircraft on the ground are categorized as aircraft pushback tugs. These ground support vehicles are crucial for proper airport management. They are largely utilized in steering an aircraft between different locations at airports.
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The powerful progress of the aircraft pushback tugs market is primarily owing to the swift rise in air passenger traffic, growing investments in the development and expansion of aviation infrastructure, as well as technological innovations in aircraft pushback tugs. These vehicles are being increasingly used by aviation enterprises to meet various ground handling challenges at airports.
Owing to a surge in disposable income, the aviation industry has witnessed a rise in air passenger numbers. The rising need for a safer and comfortable mode of travelling has also contributed to this rise in air passenger traffic. All of these considerations, thus propel the growth of aircraft pushback tugs market during 2022-2032.
As per the International Air Transport Association (IATA), internationally, total air travelers are likely to reach 4.0 billion in 2024. This will likely generate profitable opportunities for the aircraft pushback tugs manufacturers during the assessment period.
Likewise, surging investments by governments across the world for the development of new airports will foster an environment of growth for aircraft pushback tugs market during the next few years. Due to the growing preference for air travel, different governments are concentrating on not only developing new airports but also upgrading the older ones. Again, the availability of remotely controlled aircraft pushback tugs also creates lucrative opportunities for the target market during the forecast period.
“Incline in air passenger traffic in recent years along with the expanding aviation industry will augment the sales of the global aircraft pushback tugs market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Increasing government support from all over the world will improve market prospects.
- Safety concerns and dearth of adequate aviation infrastructure in developing countries will stunt market growth.
- The Asia Pacific region will emerge as the most profitable market for aircraft pushback tugs.
- North America’ aircraft pushback tugs market will account for major share of the global market.
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Competitive Landscape
TUG Technologies Corporation, Aero Specialties, Inc., NMC-Wollard, Inc., Goldhofer Airport Technology GmbH, Eagle Tugs, Mototok International GmbH, Lektro Inc., Charlatte of America Inc., Victory Ground Support Equipment, Nepean Engineering & Innovation Pty Ltd., and TLD among others are some of the major players in the aircraft pushback tugs market profiled in the full version of the report.
Leading market players are keen on expanding their product portfolios by incorporating innovative, energy efficient and eco-friendly aircraft pushing tugs into their product line. These firms employ strategic partnerships and collaborations to improve their sales in the global market.
More Insights into Aircraft Pushback Tugs Market Report
In its latest report, FMI offers an unbiased analysis of the global aircraft pushback tugs market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (conventional pushback tugs, towbarless pushback tugs), power source (electric, fuel), mode of operation (manually operated, remotely operated), and region.
According to the latest FMI reports, based on region, the aircraft pushback tugs market in the Asia Pacific region will exhibit impressive growth over the projected period. The target market in this region will be offered several lucrative opportunities during 2022-2032. The advancing aviation industry in countries like China, India, and Japan as well as the strong presence of major market participants will drive the growth of the aircraft pushback tugs market in this region. Surging aircraft sales, availability of rent option for aircraft pushback tugs, and a growth in warehouse operations at airports is aiding the target market growth in China which, in turn, positively influences Asia Pacific’s aircraft pushback tugs market.
The aircraft pushback tugs market in North America will also present substantial growth during 2022-2032. The regional market will hold a major portion of the global market shares. This growth can be attributed to the rise in air passenger traffic, increasing government support and strong presence of key aircraft ground support equipment manufacturers. Thus, Asia Pacific and North America will present strong growth in the aircraft pushback tugs market during the forecast period.
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Key Segments Profiled in the Aircraft pushback tugs Industry Survey
By Product Type:
- Conventional Pushback Tugs
- Towbarless Pushback Tugs
By Power Source:
- Electric
- Fuel
By Mode of Operation:
- Manually Operated
- Remotely Operated
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
TOC to be Continued . .
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