The Absolute Markets Insight’s recent report on the Aircraft Tugs Market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the Aircraft Tugs market analyses the scenario for the period of 2021 to 2030.The report enables readers to make important business decisions based on the vast amount of information contained in the research.
Some of the players operating in the aircraft tugs market are Aero-Tow, AIRCRAFT-TUGS LLC, Airtug, BestTugs, Eagle Tugs, JBT, LEKTRO, Inc, Lindbergh Aircraft Tug Company, Mototok, Powertow.com, Priceless Aviation Products, SMARTech Industries, LLC, Textron Ground Support Equipment Inc., TowFLEXX Inc, and Tronair amongst other market participants.
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In terms of revenue, aircraft tugs market was valued at US$ 3859.76 Mn in 2020 growing at a CAGR of 6.1% over the forecast period (2021 – 2030). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
According to the International Air Transport Association (IATA) Air Cargo Market Analysis for 2020, the cancellation of passenger flights across all regions as a result of the COVID-19 crisis has had a significant impact on international belly cargo capacity in recent months. In March 2020, international belly cargo capacity had decreased by 43.7 percent year on year. In contrast to the negative impact COVID-19 had on commercial aviation, the pandemic has increased demand for dedicated cargo planes, addressing customers' growing reliance on aerial delivery and online commerce. Also, some international players play an important role in pandemics in order to accommodate international markets.
For instance, IAI has converted wide-body passenger planes into cargo jets and has obtained more contracts for 2020, securing more conversions for its rising international operation. Commercial aircraft application segment is expected to be the fastest growing segment in the aircraft tugs market over the forecast period due to increasing demand from the emergency pharmaceutical and retail product transportation.
Global Aircraft Tugs Market:
- By Type
- Towbar Aircraft Tugs
- Towbarless Aircraft Tugs
- By Fuel Type
- Diesel
- Electric
- Gas
- By Towing Capacity
- Up to 60,000 lbs
- 60000 lbs to 120000 lbs
- More than 120000 lbs
- By Application
- Military Aircrafts
- Commercial Aircrafts
- Civil Aircrafts
- Others
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