Aircraft Towbars Market

Global Aircraft Towbar Market Outlook

The global aircraft towbar market is estimated at USD 9 Million in 2022 and is forecast to reach USD 12 Million by 2032, growing at a CAGR of 3.8% during 2022-2032.

Report Attributes	Details
Market size value in 2021A	USD 8 Million
Market value estimated in 2022E	USD 9 Million
Market forecast value in 2032F	USD 12 Million
Global Growth Rate (2022-2032)	CAGR 3.8%
North America Market Share in 2021	~27%
North America Market Growth Rate (2022-2032)	CAGR 4.2%
Market Share of Top 5 Companies	~25%
Key Companies Profiled	Tronair Aero Specialties Brackett Aircraft Company Inc. DEDIENNE Aerospace Techman-Head Group AGSE Corp K&M Airporttechnik Techman-Head Group LANGA Industrial SA Textron GSE Hydro Systems USA Inc. MakroAERO CLYDE Machines Inc. GSE Composystem Hall Industries Inc. Shanghai Cartoo GSE Co., Ltd JMS AG Cavotec SA

Fact.MR- a market research and competitive intelligence provider, foresee a thriving growth in aircraft Towbar demand. The global aircraft towbar market is expected to grow at 3.8% CAGR during 2022-2032 and surpass the value of USD 12 Million by 2032 end. The global ground support equipment market is expected to reach a valuation of USD 4.5 Billion in 2022, however aircraft towbar holds USD 9 Million in ground support equipment market.

Aircraft towbars are still weapon of choice when it comes to pushback and other ground operations. Airlines industries are particularly focusing on efficiency and reducing the operational time and time Lag. High rate of growth in air traffic with a relatively low rate of expansion of airports and the construction of new ones is leading to a decrease in the time of service per flight. Thus, aircraft towbar market accounted for <1% market valuation of global towing equipment market in 2021.

To do so, workforce and equipment previously used are being replaced by new and more efficient ones. The key driving factor pushing the demand for aircraft tow bars around the globe is the convenience provided by the multi head tow bars to the end users and continuous up gradation on technological front. Such growing activities for multi-head type of product in airline industries is expected to hold a market share of 61% in 2022.

Traditionally, as go-to-equipment to help tow aircraft has several confinements associated with it, including time-intensive installation, cost-intensive staff training, high cost of the equipment, and limited speed. These challenges have led aircraft towbar manufacturers to join forces and come up with an advanced solution that offset the operational uncertainties apropos of towing aircraft, which in turn has led to the development of towbar-less tugs.

A prime example of such co-development is “EJP Towbarless Tug,” by the collaboration between Eagle Tugs and Tronair. The trend of towbarless is expected to significantly impede the growth of the market, as these new equipment enable operators to utilize a zero-degree turning radius that results in precise positioning of aircraft with lesser space requirement for manoeuvrability.

Aircraft Towbar Market Historical Outlook (2017-2021) Vs. Forecast Outlook (2022-2032)

• North America based aircraft towbar market is expected to have a revenue share of 27% in 2022 and is likely to reach a valuation of USD 3.2 Million by 2032 with a growth rate of 3.4%.
• The Europe region is presumed to hold market value of around USD 1.5 Million by the end of 2022 owing to high technology adoption rate.
• The multi-head as product type is expected to be valued at USD 7.3 Million by 2032 with a growth rate of 3.4%.
• By material type, steel holds a maximum growth rate of 4.4% with the market share of 33% by the end of 2032.
• Under aircraft type, military segment is expected to hold market share of 16% in 2022 and is likely to reach a valuation of USD 2 Million by the end of forecast period.
• The cargo segment in aircraft type is expected to grow at a CAGR of 4.2% over the period of 2022-2032.

How Rising Preference for Air Travel is expected to Impact Aircraft Towbar Market?

According to a 2021 report published by ICAO (International Civil Aviation Organization), the number of passengers traveling by air was near to 2.2 Billion.

Factors such as growth of international travel, growth in tourism industry, higher disposable income, competitive pricing by airline companies for air travel, and increase in amenities provided during air travel with drastic reduction in traveling time have mostly subsidized to increase preference of consumers for air travel. This is influencing airline carriers to deploy new aircraft which in turn, is driving the growth of the aircraft tow-bar market

How Maintenance Outsourcing by Airlines to Remain a Key Revenue Stream for Aircraft Towbar Manufacturers?

Preventative maintenance persists as a vital aspect among aircraft ground support equipment (GSE) manufacturers, and this is no exception for towbar producing companies. The maintenance approach followed by aircraft towbar manufacturers is comprehensive, which involves procedures for all components, ranging from towbar body & head mechanism to lift tow rings.

Outsourcing these maintenance operations to specialty companies, such as FlyTek GSE, is a key industry trend that is a consequence of the emphasis on minimizing downtime and repair costs through quality preventative maintenance.

This has further built the customer confidence with regard to the safety requirements of towbars while offering them the convenience of on-site trouble shooting and maintenance. Aircraft towbar manufacturers will continue to witness revenue benefits from these maintenance outsourcing activities in the upcoming years.

How Replacement Rate of Aircraft Towbar to Affect the Overall Growth?

As with all aircraft handling equipment, towbar and heads are subject to wear and damage over time. Equipment ages past its prime for various reasons, most common of which include erosion and corrosion. As aircraft tow-bar is mainly made up of aluminum and steel. It gets corroded due to climatic aspects, low-quality material, and others.

The piece of equipment must be strain and corrosion free because it secures million dollars aircraft. Thus damaged tow-bar product is often paid attention by airplanes towing operations manager and purchasing agent for replacing old tow-bar by new leads to increase in the sale of aircraft tow-bar manufacturers.

How Collaboration Between Manufacturer and Distributor to Impact the Global Growth?

Long-term prospects for aviation will remain strong. Tier 1 and Tier 2 manufacturers are investing in technologies and entering into strategic collaboration with suppliers based around the globe to attain capacity to handle rapidly increasing demand for aircraft tow-bar.

Through collaborations with local suppliers, the manufacturers are looking to enhance customer reach in markets by adding new clients to their list as well as improving responsiveness and services to consumer in the global market. The trend will certainly emerge as a competitive strategy in the coming years and is visible across all major vendors present in the aircraft tow bars market place.

Country-Wise Analysis

What are the Driving Factors of Aircraft Towbar Market in UAE?

UAE has turned out as a hot spot for the airline industry has been observed by the solid growth of some of its global renowned players such as Etihad Airways, Emirates and others purchasing a bulk of large and narrow body of airlines for the future. The UAE region is expected to grow at a CAGR of 3.8% over the forecast period.

Why India is a Pivot Point for Aircraft Towbar Manufacturers?

India based aircraft tow bar market has commanded much growth and development in the past decade, primarily driven by the surge in air traffic. It is expected that the expansion of air traffic volume and fleet sizes in the region will continue to grow at a CAGR of 3.6% over the forecast period, ultimately boosting Ground Support Equipment (GSE) services demand which leads to increase the sales of aircraft tow-bar.

Segment-Wise Analysis

How Electric Type of Towbar Mechanism to Remain Prominent Segment in the Market?

The preference of airlines is currently witnessing a paradigm shift toward battery-powered electric aircraft towbars, to eliminate the routine maintenance requirements associated with their gasoline counterparts.

With the improvements in battery technologies, from low-density lead-acid to high energy lithium-ion with SiC films, the aviation industry is gradually leaning toward electric ground support equipment, thereby impacting adoption and production of electric aircraft towbar as a consequence. The electric type of towbar mechanism is expected to hold 21% of market share in 2022 and is likely to reach a valuation of USD 2.8 Million by the end of 2032.

Which Segment in Product Type is Likely to Witness Accelerated Growth?

Sensing the requirement variations in aircrafts, prominent players in the market have introduced the equipment with several designs, which include standard/universal and multi-head being sought-after in the industry. The multi-head type of product is expected to grow 1.4X over the period of 2022-2032.

While pervasiveness of multi-head aircraft towbar continues to retain its status quo, competition has been intensifying from standard/universal aircraft towbars in recent years. The standard/universal types is expected to reach a valuation of USD 5 Million by 2032 with a growth rate of 4.3%. Multi-head variants are likely to account for leading volume shares in the global market, whereas standard/universal variants will exhibit a comparatively faster growth through 2032.

Competitive Landscape

Fact.MR profiled the following key aircraft towbar manufacturers in its report are Tronair, Aero Specialties, Brackett Aircraft Company Inc, AGSE Corp., K&M Airporttechnik, DEDIENNE Aerospace, Techman-Head Group, LANGA Industrial SA, Textron GSE, Hydro Systems Inc., MakroAERO, CLYDE Machines Inc., GSE Compo system, Hall Industries Inc., Shanghai Cartoo GSE Co., Ltd, JMS AG, and Cavotec SA. Key manufacturers are constantly innovating product designs to meet the modern day challenges pertaining to components placement in the engine environment. 

Fact.MR has provided detailed information about price points of top manufacturers in aircraft towbar market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

Key Segments Covered

• By Product Type :

  • Multi-Head
  • Standard/Universal

• By Material Type :

  • Aluminum
  • Steel

• By Aircraft Type :

  • Civil
  • Cargo
  • Military
  • Executive Jet

• By Tow-Head Type :

  • Shear Pin
  • Clamp

• By Towbar Mechanism :

  • Conventional
  • Electric

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa