QY Research has recently released its 107 pages report titled, “Global Aircraft Tractor Market Report, History and Forecast 2014-2025,” that keeps a close watch on key competitors with their strategic analysis, pricing analysis, along with key market trend and opportunities for the predicted period of 2019-2025. According to the report, the global aircraft tractor market is likely to reach US$ 450 Mn by the end of 2025 from US$370 Mn in 2018. The global aircraft tractor market is rising with a sluggish CAGR of 3% during the anticipated period.
Global Aircraft Tractor Market Report: Drivers and Restraints
Since last few years, the aircraft tractors market has been earning higher traction due to the growing number of air travel passengers. The aircraft tractors are designed in a wide variety such as small regional aircraft and wide-bodied aircraft which is expected to drive the growth of the market in the years to come. The key manufacturers are focusing on the innovation of advanced technology to develop aircraft tractors that are more flexible, can handle airplanes in a faster and safer way, and are cost-efficient which are likely to propel the demand of the aircraft tractors in the near future.
The expansion of the aviation industry has been predicted to open new growth opportunities and has designed the future of aircrafts tractors market during the anticipated period. With the reduction in operational cost and improved operational efficiency, the aircraft tractors have gained a higher demand from the ground handling companies and airlines. Additionally, the rising number of aircraft and airports have pushed the production of aircraft tractors thus, creating a positive impact on the growth of the market over the forecasted period.
However, the high cost of material may hamper the growth of the market over the projected period.
Global Aircraft Tractor Market Report: Forecast by Segmentation
The global aircraft tractors market is segmented into product type and application. On the basis of product type, the market is segmented into Towbarless Tractors and Conventional Tractors. The application segment is segmented into Military, and Civil Aviation.
Global Aircraft Tractor Market Report: Key Companies
Charlatte Manutention, TLD group, Weihai Guangtai, Goldhofer AG, Lektro, TUG, Kalmar Motor AB, TREPEL, Kalmar Motor AB, Nepean, JBT Aero, Eagle Tugs, Fresia SpA, and Douglas are some of the main players that are functioning in the global aircraft tractors market.
Global Aircraft Tractor Market Report: Forecast by Geography
Europe is expected to lead the global aircraft tractor market in the coming years. North America is likely to witnesses a promising growth due to the advent of innovative technology and the higher production of aircraft tractors in the market. The Asia Pacific is also expected to grab a remarkable market share due to the increasing middle-class population and the stringent government regulations regarding the safety and reliability of the passengers.
Full Report Overview@ https://www.qyresearch.com/index/detail/332972/global-aircraft-tractor-market