Nikhil Kaitwade, Research Head- Automotive Domain at Fact.MR discusses various factors shaping the aircraft tugs market landscape.
The growth of aircraft tugs market proliferates on an impressive trajectory, owing to burgeoning growth of aviation services on a global scale. Rising need for efficient ground service equipment is another key aspect empowering demand for aircraft tugs. Rising permeation of electro mobility is putting the conventional counterparts in the shade, paving new opportunities for efficient ground handling services. This, in turn, is likely to necessitate the adoption of aircraft tugs. Prominent manufacturers of aircraft tugs are making hefty investments in research and development in line with latest trends apropos of ground service equipment (GSE) deployment in a bid to reap high ROI.
Q. What changes will Brexit induce in the European aviation industry, thereby influencing the demand for ground service equipment?
Brexit, which is exit of the UK from the European Union, will result in specific implications and repercussions for every major industry of Europe, including the aviation space. The impending Brexit is highly likely to introduce major changes in three major aspects of the aviation landscape- freedom of operation, freedom of movement, and the EU economy.
Prominent organizations, such as International Air Transport Association (IATA), have also discussed about the Brexit-trigged influences on the European aviation industry in the forthcoming years. This, in turn, remains a macro-economic aspect having deep-rooted influences on every aspect of European aviation services, with ground service equipment being a prominent one.
Q. What changes will advent of electric aircraft tugs introduce in operational framework of European aviation space?
Unparalleled ease of handling coupled with seamless reliability remain the key USPs enhancing visibility of electric aircraft tugs over the conventional gasoline-based as well as gas-based variants. Subsequently, European airlines are on their way to host large-scale deployment of electric aircraft tugs, which will aid them to get rid of the routine-based maintenance, unlike gasoline- and gas-powered variants.
Another significant feature is the enhanced battery technology that has resulted in drastic propensity of the European airlines toward electric GSE, with aircraft tugs being a prominent one. With maintenance and convenience evolving as an ideal combination in the European aviation space, electric aircraft tugs are poised to emerge as the primary choice in the forthcoming years.
Q. How will the ‘Aviation Strategy for Europe’ by the European Commission Spur Growth of Aircraft Tugs?
The European Commission, via its ambitious strategy known as ‘Aviation Strategy for Europe’, is adopting multimodal measures to refurbish and support open as well as connected aviation markets in the European Union. The agreement between EU and China vis-à-vis strengthening their aviation cooperation to ameliorate and boost market EU’s aeronautical sector represents a herculean step in this aforementioned direction.
These initiatives with an objective of retaining seamless connectivity in aviation and stimulating investments into European airlines are likely to pave lucrative avenues for the ground service equipment space, including aircraft tugs.
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