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

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Global Aircraft Tires Market was prized at USD 1.1 billion in 2019, and it is predictable to reach USD 1.48 billion by 2026, at a CAGR of 4.3 %, over the forecast period.

The reasons such as growth in demand for commercial aviation and military aircraft drive the development of the aircraft tires market. Besides, the rise in universal air passengers due to surge in disposable income and growth in business actions is predictable to increase the market growth in approaching years. On the other hand, strict regulations and an incomplete number of producers confine market development. Moreover, a rise in technical progressions in the manufacturing process is expected to provide a profitable opportunity for the growth of the market.  The procurement of newer generation aircraft in the military and commercial sectors is one of the major causes of the growth of the aircraft tires market.

Airlines are making procedures for functioning in new ends and travel routes with the intent of growing air travel. This is predictable to make the commercial section register the highest CAGR during the prediction period. The long-term agreements with the existing top players in the market are predicted to act as a fence for the entry of new players into the market.

Global Aircraft Tires Market – Overview

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

 

Growth Drivers

Demand for aircraft tires increasing in the commercial aviation and defense industry.

Growth in geo-political tension has led to augmented savings in the defense sector, as numerous countries want authority in air defense. Moreover, the number of worldwide air passengers is growing due to increasing disposable income and development in business activity. This, in turn, has been pouring the global aircraft tire market in current years. Besides, freshly, there has been an increasing number of events of air crashes. Some of these air accidents occur due to mechanical faults of tires. FAA has addressed the issue and applied proper strategies related to the project of aircraft. This leads to the recurrent auxiliary of aircraft tires, and this is a prime factor for the growth of the aircraft tire market in recent decades.

Advancement in Technology

Technically progression in aircraft tires is serving in falling mass, offer successful landings, and long life span—this aids in decreasing the functioning cost, thus pushing the request for advanced aircraft tires worldwide. Up-gradation and construction of international airports in emerging countries are pouring 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 are contained with an electronic pressure sensor, which will detect the inflation pressure and recover the ground maintenance. Innovation in connected 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 fragmented 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, huge 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 complete efficiency. This, in turn, is predictable to increase the request for aircraft tires during the prediction period.

On the basis of product type, the aircraft tire market can be divided into radial and bias. The bias tires segment conquered the market. This is an old form of the tire, and piles are enfolded into the tire to provide obligatory strength. Though, most modern aircraft engage radial tires. Piles of radial tires are detected at a 90-degree angle with the course of the revolution of the tire. This flexibility improves the power of the tire by providing greater contact to lift the high load with a minimum twist. The added gains of radial tires are projected to increase its market share during the forecast period. The radial tires section is expected to enlarge fast 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. Asia Pacific held a considerable share of the market and it is likely to uphold its position in the market during the prediction period.

Global Aircraft Tires Market: Regional Insights

Asia-Pacific is expected to have the uppermost growth during the prediction period. Airlines in this region are participating in acquiring newer generation aircraft. The rising tourism in countries like South Korea, Malaysia, China, India, Indonesia, Singapore, Thailand, Australia, and Vietnam, has augmented the passenger transportation of this area. The aviation market in the Asia-Pacific region is predictable to move ahead of the North American aviation market in the next few years. Detecting possible in the aviation market of Asia-Pacific, some companies are increasing their operations in this region. Also, the poor connectivity amid the metros and smaller cities has led to the development in the general aviation section of the area. With increasing military spending, fueled by rising political tension in the region, on-going procurements of military aircraft, and the growing manufacturing capabilities of the region boost the growth of the area during the prediction period.

Competitive Landscape

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., Ltd. (China).

Recent Developments

Ø  In 2016, Changi East Airport of Singapore invested USD 7.5 billion in project which will increase the passenger capacity and expand the runway.

Ø  In July 2016, Michelin and Aviall, a U.S. based aviation parts and aftermarket service provider collaborated to improve the services and maintenance of aircraft tires. The immense acquisitions and expansion of aircraft tire manufacturers are showcasing the expected bright light of this aircraft tire industry.

Ø  By Aircraft Type

ü  VLA

ü  NBA

ü  WBA & RTA

Ø  By Product Type

ü  Radial

ü  Bias

Ø  By End User

ü  OEM

ü  Retreaded,

ü  Replacement

Ø  By Platform

ü  Fixed Wing

ü  Rotary Wing

Ø  By Region

ü  North America

ü  Europe

ü  Asia Pacific

ü  South America

ü  Middle East & Africa

The objective of the Study:

  • To analyze and forecast the Global Aircraft Tires Market size of the market in terms of value.
  • To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.
  • The Global Aircraft Tires Market segmented into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.
  • To outline, categorized, and forecast the Global Aircraft Tires Market based on the Application, By Aircraft Type, By Product Type, End User, by Platform and by Regional.
  • To examine competitive developments like by Application, By Aircraft Type, By Product Type, End User, by Platform and by Regional within the Global Aircraft Tires Market.
  • To highlight the impact analysis of the factors affecting the market dynamics such as growth drivers.
  • To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
  •  

Business Questions Answer 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  With five additional company detail analysis

Ø  Additional country analysis

Ø  Detailed segment analysis

 

 




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