Aircraft Tractor Market Size, Share Global Analysis Report, 2019–2026

Industry Insights

According to the report published by Facts & Factors, the global Aircraft Tractor Market size was worth around USD 392 million in 2019 and is predicted to grow around USD 485 million by 2026 with a compound annual growth rate (CAGR) of roughly 3% between 2020 and 2026. The report analyzes the global Aircraft Tractor Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Aircraft Tractor Market.

The report encompasses the forecast as well as analysis of the aircraft tractor market on a global and regional level. The study displays historical data of 2016 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million) and volume (Units). Additionally, the market growth drivers, opportunities, limitations, and trends are also included in the Aircraft Tractor market report.

We have included industry analysis models in our report and extensively demonstrated the key business strategies and competitive landscape of the Aircraft Tractor market in our study.

Key Insights from Primary Research

• According to our primary respondents, we have analyzed that the global aircraft tractor market is anticipated to experience a considerable growth while registering a CAGR of nearly 3% till 2026 end.
• Our respondents shared insights about the global revenues generated from sales of aircraft tractors worth around USD 390 million in 2019 itself. Moreover, the market is set to reach a whopping USD 485 million figure by the end of 2026.
• On the basis of geography, the North America region led the market in 2018. Our analysis also believe that this region is expected to witness the fastest growth due to growing airline industry in the region, especially in the U.S.
• Based on type, the conventional tractors segment held the largest share in the global aircraft tractor market, accounting for approximately 70% share in the global market in 2019.
• By application, the civil aviation segment held a major share in the global aircraft tractor market in 2018 and is projected to maintain a similar trend in over the forecasted period.

Key Recommendations from Analysts

• Our analysts predicted that the global aircraft tractor market is probable to reach a market value of USD 485 million in 2026 and was valued at around USD 390 million in 2019.
• Airport authorities are increasingly spending on developing their airport infrastructure to increase their efficiency, which is a key factor fueling the market growth globally.
• By type, the civil aviation segment is anticipated to grow at a rate of around 4% over the projected period, owing to soaring growth in the global civil aviation industry.
• Our analysts anticipate the market to witness the fastest growth between 2023-2026 in Asia Pacific region due to growing airline industry and rising government spending on building new airports. This growing investment by federal governments is expected to drive the global aircraft tractor market.
• As per our team of automotive analysts, development of new distribution channels across various regions of the world is expected to drive the market in years to come. Moreover, introduction of newly developed aircraft tractor technologies such as robotic aircraft tractor, electric aircraft tractor, etc. is also predicted to drive the global aircraft tractor market over the forecasted period.

Top Investment Pockets – By Type

Our study also includes an analysis of Porter’s Five Forces framework for understanding the competitive strategies used by market competitors. It also encompasses PESTLE analysis and SWOT analysis.

The report also offers an in-depth analysis of the market share of each industry player and gives an outline of the market position of key players in the aircraft tractor market. Moreover, the study offers wide coverage of key strategic improvements witnessed in the market such as acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, R&D activities, and geographical expansion of key players of the aircraft tractor market.

The study provides a decisive view of the aircraft tractor market by segmenting the aircraft tractor market based on type, application, and regions. All the segments and sub-segments have been examined based on historic, current and future trends in the global market and the market size is estimated from 2020 to 2026 in terms of volume and value. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

An aircraft tractor is used for pulling large and medium-sized aircraft to its desired destination. Aircraft tractors are of two types’ electric and diesel. Also, in recent years, remote-controlled aircraft tractors are introduced into the market. Aircraft tractors, based on their type of operations, are of two types: conventional and towbarless (TBL).

Report Scope

In recent years, the number of air passengers in developed as well as developing economies has increased significantly, owing to strong economic growth, improvements in disposable incomes and growth in the global population. This has led to an increase in the number of air travels, which in turn has been a key factor in driving the aircraft tractor market globally. There has also been a significant increase in the number of ground support equipment service providers. This has also helped to augment the global aircraft tractor market. Additionally, demand for electrically operated ground support equipment is expected to create opportunities for the global aircraft tractors market. However, the high initial coast associated with purchasing aircraft tractor is likely to hamper the market growth in developing countries.

The global aircraft tractor market is segmented into type and application. On the basis of type, the global aircraft tractor market is classified as conventional tractors and towbarless tractors. The towbarless tractors segment is expected to record the fastest growth over the projected period, owing to its advantages over conventional tractors. On the basis of application, the global aircraft tractor market is bifurcated into civil aviation and military.

Key players operating in the aircraft tractor industry are

• TLD group
• Goldhofer AG
• TUG
• TREPEL
• Nepean
• Eagle Tugs
• Douglas
• Fresia SpA
• JBT Aero
• Kalmar Motor AB
• Lektro
• Weihai Guangtai
• Charlatte Manutention

This report segments the aircraft tractor market as follows:

By Type Segment Analysis

• Conventional Tractors
• Towbarless Tractors

By Application Segment Analysis

• Civil Aviation
• Military

Regional Segment Analysis

• North America 
  • The U.S. 
  • Canada 
• Europe 
  • Germany 
  • France 
  • The U.K. 
  • Italy 
  • Spain 
  • Rest of Europe 
• Asia Pacific 
  • China 
  • Japan 
  • India 
  • South Korea 
  • South-East Asia 
  • Rest of Asia Pacific 
• Latin America 
  • Brazil 
  • Mexico 
  • Rest of Latin America 
• The Middle-East and Africa 
  • GCC Countries 
  • South Africa 
  • Rest of Middle-East Africa 

Key Pointers Addressed by the Report

• Historical data and forecast analysis of the market
• Drivers and Restraints affecting market dynamics
• Exhaustive analysis about the future market trends
• Comprehensive information about the leading market segments and region
• Strategic developments made by the competitive players and in-depth analysis about its impact on market growth