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 Date: June 2020
- Report ID: bwc20074
- Available Format: PDF
- Page: 169
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.
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.
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
· 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
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Million
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South Korea UAE, South Africa, Saudi Arabia.
Application, By Aircraft Type, By Product Type, End-User, by Platform,
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
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1.Primary & Secondary Sources
2.2. Quantitative Research
2.2.1.Primary & Secondary Sources
2.3. Market Breakdown & Data Triangulation
2.4. Breakdown of Primary research respondent, By Region
2.5. Assumption & Limitation
3. Executive Summary
4. Global Aircraft Tires market Industry Insights
4.1. Industry Value Chain Analysis
4.2. DROC Analysis
4.3. Technological Landscape/Recent Development
4.4. Regulatory Framework
4.5. Company Market Share Analysis, 2019
4.6. Porter’s Five Forces Analysis
4.6.1.Bargaining Power of Suppliers
4.6.2.Bargaining Power of Buyers
4.6.3.Threat of New Entrants
4.6.4.Threat of Substitutes
4.6.5.Intensity of Rivalry
4.7. Impact of COVID 19
5. Global Aircraft Tires market Overview
5.1. Market Size & Forecast by Value, 2016-2026
5.1.1.By Value (USD Million)
5.2. Market Share & Forecast
5.2.1.By Aircraft Type
188.8.131.52. WBA & RTA
5.2.2.By Product Type
184.108.40.206. Fixed Wing
220.127.116.11. Rotary Wing
18.104.22.168. North America
22.214.171.124. Asia Pacific
126.96.36.199. Latin America
188.8.131.52. Middle East & Africa
6. North America Aircraft Tires Market
6.1. Market Size & Forecast by Value, 2016-2026
6.1.1.By Value (USD Million)
6.2. Market Share & Forecast
6.2.1.By Aircraft Type
6.2.2.By Product Type
184.108.40.206. United States
7. Europe Aircraft Tires market
7.1. Market Size & Forecast by Value, 2016-2026
7.1.1.By Value (USD Million)
7.2. Market Share & Forecast
7.2.1.By Aircraft Type
7.2.2.By Product Type
220.127.116.11. United Kingdom
18.104.22.168. Rest of Europe
8. Asia Pacific Aircraft Tires Market
8.1. Market Size & Forecast by Value, 2016-2026
8.1.1.By Value (USD Million)
8.2. Market Share & Forecast
8.2.1.By Aircraft Type
8.2.2.By Product Type
22.214.171.124. South Korea
126.96.36.199. Rest of Asia Pacific
9. Latin America Aircraft Tires Market
9.1. Market Size & Forecast by Value, 2016-2026
9.1.1.By Value (USD Million)
9.2. Market Share & Forecast
188.8.131.52. By Aircraft Type
184.108.40.206. By Product Type
220.127.116.11. By End-User
18.104.22.168. By Platform
22.214.171.124. By Country
126.96.36.199.3. Rest of Latin America
10. Middle East & Africa Aircraft Tires Market
10.1. Market Size & Forecast by Value, 2016-2026
10.1.1. By Value (USD Million)
10.2. Market Share & Forecast
10.2.1.1. By Aircraft Type
10.2.1.2. By Product Type
10.2.1.3. By End-User
10.2.1.4. By Platform
10.2.1.5. By Country
10.2.1.5.1. Saudi Arabia
10.2.1.5.3. South Africa
10.2.1.5.4. Rest of Middle East & Africa
11. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
11.1. Dunlop Aircraft Tyres Limited
11.2. Bridgestone Corporation
11.3. Michelin Group
11.4. The Goodyear Tire & Rubber Company
11.6. Desser Tire & Rubber Co., LLC
11.7. Specialty Tires of America, Inc.
11.8. Sentury Tire
11.9. WILKERSON COMPANY, INC.
11.10. Qingdao Sentury Tire Co.Ltd
11.11. Other Prominent Players
* Financial details in case of unlisted companies will be available as per data availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable.
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