Aircraft tow tractors are a crucial part of the airport ground support equipment. The main functions of the aircraft tow tractors include pushing back an aircraft from its gate, towing the aircraft between the gate and hangar, and towing for maintenance purposes.
With increasing number of air travel passengers, the aircraft tow tractors market Growth has been earning high traction in the recent times.
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The aircraft tow tractors are also designed for wide variety of aircraft including small regional aircraft as well as wide-bodied aircraft which is likely to complement the expansion of the market. Owing to reduced operational cost and improved operational efficiency, the aircraft tow tractors have gained high demand from airlines and ground handling companies.
Higher Consumer Preference for Air Travel to Augment Growth of Aircraft Tow Tractors
Air travel continues to witness significant demand with increasing number of people opting for this mode of travel, be it business or leisure. According to International Air Transport Association (IATA), by 2036, around 7.8 billion passengers are expected to opt for air travel based on the 3.6 percent average CAGR that is being witnessed currently.
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However, this has a twofold impact, as increasing number of passengers has influenced higher production of aircrafts and at the same time, this is expected to pose challenges for the governments with respect to investments to meet the growing demand.
Thus, the increasing number of airports and aircrafts have pushed the proliferation of aircraft tow tractors consecutively supporting the growth of the market during the period of assessment.
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List of the Leading Companies Profiled in the keyword Market are:
The report on aircraft tow tractors market includes analysis on key participants, their business scenarios, product developments and overall company overview.
Siemens, JBT Aero, TLD Group, Eagle Tugs and Fresia SpA are few of the major participants. In addition, the report also covers analysis on emerging players in the aircraft tow tractors market.
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