Global Aircraft Tires Market Size, by Application (Commercial, & Defense), By Aircraft Type (VLA, NBA, WBA & RTA), by Product Type (Radial & Bias), By End User (OEM, Retreaded, & Replacement), By Platform (Fixed & Rotary Wing), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa), Trend Analysis, Competitive Market Share & Forecast, 2016-2026

Published:
June 2020
Report Code:
bwc20074
Available Format:
PDF PDF Icon
Pages:
169

aircraft tires market bwc20074

Global Aircraft Tires Market – Market Outlook & Trends 

 

Global Aircraft Tires Market, assessed at USD 1.1 billion in 2019, is estimated to reach USD 1.48 billion by 2026, at a CAGR of 4.3 % over the forecast period. 

 

The growing demand for commercial aviation and military aircraft drives the development of the aircraft tires market. Besides, the rise in universal air passengers due to surge in disposable income and expansion in business operations are likely to enhance the market growth in the coming years. On the other hand, strict regulations and an inadequate number of producers confine market development. Moreover, increasing technical progress in the manufacturing process is expected to provide a profitable opportunity for its growth. The procurement of newer generation aircraft in the military and commercial sectors is one of the primary factors behind the growth of the aircraft tires market.

 

Several airlines are expanding their operations, covering new travel destinations and routes to meet the demand for growing air travel. The commercial segment is more likely to register the highest CAGR during this period under consideration. However, the long-term agreements among the existing top players in the market may act as entry barriers for new players.

 

Global Aircraft Tires Market – Overview 

 

Aircraft tires play an essential role in the aircraft presentation and are designed to carry heavy loads at high speeds in the minimum and lightest possible configuration.

An aircraft tire is a cultured, computer-designed, and multi-constituent product. Aircraft tires are produced using various kinds of materials. However, the primary raw constituents include rubber, steel, fabric, and chemicals. Aircraft tire tread patterns are designed and developed to allow stability in high crosswind circumstances, improve traction and grip, and channel water away to avoid hydroplaning. Proper assortment and maintenance of tires significantly increase the safety and performance of an aircraft. 


Growth Drivers 

 

Ø  Increasing demand for aircraft tires in the commercial aviation and defense industry.

 

Growth in geo-political tension has led to augmented investment in the defense sector, as numerous countries want security and authority in air defense. Moreover, the volume of air passengers worldwide is growing due to increasing disposable income and expanding business operations. It, in turn, is driving the global aircraft tire market in recent years. Besides, the surge in the number of events of air crashes has made the airlines wary about the functioning of various components used in air crafts, including tires, as some of these air accidents occur due to mechanical faults of tires. FAA has addressed the issue and has provided guidelines related to the project of aircraft. These guidelines mention aircraft tires as a recurrent accessory to be maintained with frequent inspection and replacements to assure smooth functioning of aircraft. In turn, it will induce the demand for the same in the coming decades.

 

Ø  Advancement in Technology

 

Technical progression in aircraft serves as support in falling mass, facilitates successful landings and increases life span. It aids in reducing the functioning cost, and thus provides impetus to the demand for advanced aircraft tires worldwide. Up-gradation and construction of international airports in emerging countries are driving the global aircraft tire market. The application of IoT in aircraft tires is transforming the airplane tire market across the globe. Aircraft engineering company Safran and aircraft tire manufacturing company Michelin presented connected tires for the aeronautical industry in 2017. These tires contain an electronic pressure sensor that detects the inflation pressure and recovers ground maintenance. Innovation in attached tires is triggering the competition for aircraft tire creators and raising the acceptance of related tires across the sphere.

Global Aircraft Tires Market – Segmentation

 

In terms of application, the global aircraft tire market can be segregated into the commercial and defense segment. The business application section of aircraft tires can be further sub-divided into wide-body aircraft, regional transport aircraft, large aircraft, and narrow-body aircraft. The commercial part held a substantial share of the aircraft tire market, and the segment is expected to keep its leading position in the market during the prediction period. Rising frequency in air travel and the requirement to uphold safety methods increase the demand for aircraft tires. Aircraft tires are altered on a steady basis to meet the safety standard, which is estimated to raise the request for aircraft tire during the estimated period. In the competitive aviation industry, commercial aircraft makers prefer to install lightweight tires to increase overall efficiency. It, in turn, will increase the request for aircraft tires during the prediction period.

 

Based on product type, the aircraft tire market can be divided into radial and bias segments. The bias tires segment dominated the market. It provides an old form of the tire in which piles are enfolded into the tire to provide essential strength. However, most modern aircraft employ radial tires. The piles of radial tires are detected at a 90-degree angle along with the rotation of the tire. This flexibility improves the tire's capability to provide more significant contactual support to lift the high load with a minimum twist. The added advantages of radial tires are likely to draw forth demand and, its market is estimated to expand rapidly during the forecast period.

In terms of geography, the global aircraft tire market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. The Asia Pacific held a considerable share of the market, and it is likely to uphold its position in the market during the prediction period. 



  Asia-Pacific is anticipated to experience the highest growth during the prediction period. Airlines in this region are actively involved in acquiring newer generation aircraft. The rising tourism in countries like South Korea, Malaysia, China, India, Indonesia, Singapore, Thailand, Australia, and Vietnam, has expanded the passenger transportation of this area. The aviation market in the Asia-Pacific region is predicted to run ahead of the North American aviation market in the next few years. The poor connectivity among the metros and B-tier cities presents lucrative opportunities for development in the general aviation section of the area. Seeing viable opportunities in the aviation market of Asia-Pacific, some companies are extending their operations in this region. Moreover, escalating military spending fueled by rising political tension in the region, on-going procurements of military aircraft, and the growing manufacturing capabilities of the region reassure the market growth during the prediction period.

 

Competitive Landscape

The key players in market are Dunlop Aircraft Tyres Limited (UK), Bridgestone Corporation (Japan), Michelin Group (France), The Goodyear Tire & Rubber Company (US), Petlas (Turkey), Desser Tire & Rubber Co., LLC (US), Specialty Tires of America, Inc. (US), Sentury Tire (China), Wilkerson Company, INC. (US), and Qingdao Sentury Tire Co.Lt


Recent Developments

·         In 2016, Changi East Airport of Singapore invested USD 7.5 billion in a project, expanding passenger and runway capacity.

 

·         In July 2016, Michelin and Aviall, US-based aviation parts and after sale-service providing company collaborated to improve the services and maintenance of aircraft tires. 

The significant acquisitions and expansions of aircraft tire manufacturers indicate the bright future of this aircraft tire industry.


Scope of The Report

By Aircraft Type

 

Ø  VLA

Ø  NBA

Ø  WBA & RTA

 

By Product Type

 

Ø  Radial

Ø  Bias

 

By End-User

 

Ø  OEM

Ø  Retreaded,

Ø  Replacement

 

By Platform

 

Ø  Fixed Wing

Ø  Rotary Wing

 

By Region

 

Ø  North America

Ø  Europe 

Ø  Asia Pacific

Ø  South America

Ø  Middle East & Africa

 

The objective of the Study:

 

Ø  To analyze and forecast the Global Aircraft Tires Market size of the market in terms of value.

Ø  To scrutinize market segmentation and estimate the market size, in terms of value, based on the region and other segments.

Ø  To segment the Global Aircraft Tires Market into five regions: North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.

Ø  To outline, categorize, and project the Global Aircraft Tires Market based on the Application, By Aircraft Type, By Product Type, End-User, by Platform, and by Regional.

Ø  To examine competitive developments in terms of Application, By Aircraft Type, By Product Type, End-User, by Platform, and by Regional within the Global Aircraft Tires Market.

Ø  To highlight the impact analysis of the factors affecting the market dynamics such as growth drivers.

Ø  To strategically profile the key players and comprehensively analyze their market shares and detail the competitive landscape of the market.

 

Business Questions Answered by the Report

 

Ø  How will the market drivers, restraints, and opportunities affect the market dynamics?

Ø  What will be the market size in terms of value and volume and market statistics with a detailed classification?

Ø  Which segment dominates the market or region, and one will be the fastest-growing, and why?

Ø  A comprehensive survey of the competitive landscape and the market participant players

Ø  Analysis of strategy adopted by the key player and their impact on other players.

 

 

Customization Scope for the Client

 

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

 

Additional Company Information

Ø  Detail Analysis of Five Additional Companies

Ø  Additional country analysis

Ø  Detailed segment analysis

 

Attribute

Details

Years Considered

Historical data – 2016-2019

Base Year – 2019

Forecast – 2020 – 2026

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South Korea UAE, South Africa, Saudi Arabia.

Product/Service Segmentation

Application, By Aircraft Type, By Product Type, End-User, by Platform,

Key Players

Tyres Limited (UK), Bridgestone Corporation (Japan), Michelin Group (France), The Goodyear Tire & Rubber Company (US), Petlas (Turkey), Desser Tire & Rubber Co., LLC (US), Specialty Tires of America, Inc. (US), Sentury Tire (China), WILKERSON COMPANY, INC. (US), and Qingdao Sentury Tire Co.Ltd. (China) and other prominent players

COVID-19

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