Aircraft Tire Market, Size, Share, Outlook and Growth Opportunities 2019-2026
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  • Aircraft Tire Market, Size, Share, Outlook and Growth Opportunities 2019-2026

     



    (Transportation-News.com, April 21, 2020 ) Market Overview
    • Global Aircraft Tire market is expected to grow at a CAGR of over 6 % in the forecast period (2019 - 2026).
    • Unlike automotive tires, aircraft tires are involved in different sizes and styles. Aircraft tires are to be replaced at regular intervals that are scheduled based on the type of aircraft, and some are returned based on the usage and conditions. Due to the long life of the aircraft frames, regulations for aircraft tires is high.

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    Market Dynamics
    • The growing consumer incomes are driving demand for the airline industry, which requires new and replacement tires is strengthening the aircraft tire market growth.
    • Rising need for a retread of aircraft tires as most of the aircraft tires undergo retreading for about five to ten times is driving the market for aircraft aftermarket tire market.
    • The barriers such as strict safety regulations for aircraft components including tires is affecting market growth.

    Segmentation Analysis
    • By distribution type, the market is segmented as OEM and aftermarket. Aftermarket segment is accounted for a significant share in the global aircraft tire market. This growth is mainly due to most of the industry players are involved in serving existing aircraft fleets such as replacing worn tires globally and sometimes scheduled replacements.
    • By application type, market is segmented as commercial and military & defense. Business and civil aircraft segments are accounted for the significant share with growing low-cost carriers all over the world and increasing flight travels.

    Geographical Share
    • By Geography the market is segmented into the Americas, Europe, Asia Pacific and rest of the World. Asia Pacific region is the leading market for Aircraft Tire in 2017 and is expected to have a dominant share over the forecast period to 2025.
    • The growth is supported by increasing demand for commercial aircraft in emerging countries for air travel, which drives the aircraft tire market.

    Competitive Landscape
    • The competition in the industry is consolidated among a few large companies globally. Michelin, Bridgestone, Dunlop, and Goodyear are the prominent players in the Aircraft Tire market.
    • Key players in the industry are developing new tire technologies under partnerships with other industry players. For instance, in June 2017, Michelin and Safran have presented a connected tires innovation named “presence” for the aeronautical industry to improve ground maintenance operations.

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