Aircraft Tire Market Research Report - Global Forecast till 2030

Aircraft Tire Market Research Report: Information by Platform (Fixed-Wing and Rotary-Wing), Product Type (Bias Ply and Radial Ply), Aircraft Type (Commercial Aircraft, Military Aircraft and Business & General Aviation Aircraft), End-User (OEM and Aftermarket) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2030

ID: MRFR/A&D/1628-CR | October 2019 | Region: Global | 134 Pages         

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Aircraft Tire Market

Aircraft Tire Market Size Valued at USD 2867.9 Million, market Grow at a CAGR Of 3.9% by 2020 -2030

By Platform Fixed-Wing Rotary-Wing
By Product Type Bias Ply Radial Ply
By Aircraft Type Commercial Aircraft Military Aircraft and Business & General Aviation Aircraft
By End-User OEM Aftermarket
Key Players
Companies Profiled   Aviation Tires & Treads LLC   Bridgestone Corporation   Petlas Tire Corporation   Compagnie G√©n√©rale Des √Čtablissements Michelin Sca   Speciality Tires of America   The Goodyear Tire & Rubber Company   Desser Tire & Rubber Co. LLC   Dunlop Aircraft Tyres Ltd   Wilkerson Company Inc   Qingdao Century Tire Co. Ltd
Market Driving Forces   Defence sector is demanding a high number of military aircraft
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Aircraft Tire Market overview

Aircraft Tire Market Size Valued at USD 2867.9 Million, market Grow at a CAGR Of 3.9% by 2020 -2030 Aircraft tire is a crucial aspect of any aircraft. The aircraft tires have a wide range of application. Also, there are varieties of aircraft tire sizes. It is equipment that requires high safety and quality. A high-end tire can prevent potential aircraft tire explosion. Extensive engineering and calculation are essential to creating aircraft tires. Most of the aircraft tires are handmade that is made with special specifications. The federal aviation administration’s commands the aircraft tire specifications.

The safety compliant tires do not easily get damaged due to poor landing or weather conditions. There are plenty of variations in these aircraft tires suitable for different modes of airplanes. The tires come with features such as durability, reliability and exceptional control. Today, both the defence and the commercial markets demand aircraft tires. Due to this, the market demand is rising at an exponential pace every year. Theglobal aircraft tire marketwill witness a growth of 4.9% in the forecast year 2025. The requirement of quality aircraft tires will further propel the overall market growth in the forecast period.

Covid analysis

Covid 19 has caused several disruptions in the global market. The aircraft manufacturing units stopped their production during the pandemic. As the number of passengers decreases there was no requirement for production. However, it is anticipated that that manufacturing will resume this year. The massive revenue losses are a major drawback in this market. Also, the global shutdown has caused high raw material price and low demand rates. However, the key market players are continuously enhancing the market. As per the aircraft tire market report defense sector will be the key contributor for the substantial market growth.

Market dynamics

  • The crucial market drivers

The aircraft tire is a market with high funding and governmental backing. In some countries after the lockdown, the passenger travelling through air is rising at a high rate. Many choose aircraft for tours and business trips. Moreover, the defence sector is demanding a high number of military aircraft. The demand for UAV and weapon equipped aircraft are growing ever higher. The demand for aircraft from different segments is a crucial driver for the market. The demand forthe aircraft tire market by applicationis the main cause for high growth. This crucial market driver will contribute more to the development of the overall aircraft tire market.

Furthermore,airplane tires arehighly durable. They carry the entire weight of the airplane during the takeoff and landing process. The life span of airplane tires is less. There are plenty of tire replacement opportunities in this market. Due to this, the requirement for new tires is always high in this market. Therefore, the increasing aircraft demand and replacement of tires are crucial drivers that will have an immense impact on the market.

  • The market growth opportunities

The commercial aircraft tire markets have plenty of strong regional players. The entry of new key-players provides future growth opportunities for the market. The global aircraft market is vast. The entry of new market players assures new product development and applications. It offers plenty of growth possibilities for the market. Moreover, the landing per tire is a crucial factor that determines the lifespan of the tire. Due to the pandemic, aeroplanes are landing at several airports. It is a measure to provide a better and quick flight for passengers. Ultimately this increases the landing per tire rate. The tire replacement opportunities are higher in the future. The growing land per tire trend offers more growth potential for the market.

  • The market restraints

Few restraints in this market can have a huge impact on the growth. The stringent aviation rules are the main restraints. Also, several governments have a different set of aviation rules. It is a measure to prevent accidents and explosions. The aircraft tires are fixed in an aeroplane after several testing and safety procedures. Also, the aircraft tire pressure monitoring system is an important regulation. It delays the overall production of tires.

The stringent government rules regarding aircraft tires deployment restrict the market growth. They are limited number of aircraft tire manufacturers. Due to fewer key players, the market has fewer technological advancements and developments. However, the entry of key players in the forecast year offers more development in this market.

  • The market challenges

The aircraft tire market has few challenges that can hamper the overall growth. Currently cost is a significant challenge in this market. The aircraft tires are made with material such as steel, nylon and natural rubber. The production to testing process is long. It results in high operational and final product cost. Complete aircraft making is an expensive task. The high rate of tires adds up more cost to the overall product. Cost can cause several demand-supply chain disruptions in the upcoming years. Also, the fewer demand due to the high cost can restrict the market growth in the future years. The weight of the tire is another crucial aspect in this market. The aircraft marketers expect tires that are sturdy and less in weight. The inadequacy to create sturdy as well and fewer weight tires pose a major challenge to this market.

  • The cumulative growth analysis

The aircraft tire industry around the globe is focusing on the up-gradation process. It is a crucial measure to uplift the convenience and comfort of travelling in aeroplanes. These developments assure a steady flow of demand for the market. The rising popularity of the tires will enhance the overall market growth. However, the high-cost issues are a major drawback in this market. The key players are establishing cost-cutting methods in the upcoming years. It offers high growth potential for the market.

  • The value chain analysis

The Asia Pacific holds the largest aircrafttires market share.Airlines in this region are procuring new age aeroplanes in the upcoming years. The growing tourism and travel in the Asia Pacific region are increasing the overall growth rate in this market. The aviation industry in this region is booming. Sensing the potential, the key players from other market are implementing the market expansion. This region is also establishing new aircraft tire servicing facilities to earn more profitability.China, India, Japan and South Korea are the key contributors in this market. The procurement of military aircraft is another factor that is raising the aircraft tire market.

Segment overview

By product

  • Radial

The radial airline tires are made of which run through the help of belt piles. The low weight and highly durable tire is popular n the aircraft industry. They are known for their robust performance and fuel-efficient features.

  • Bias

The bias ply aircraft tire is made of casing piles that run diagonally. The load capacity is exceptional in these tires. The tire comes with high performance, stability, and high-speed features. It is a tire, sensitive to overheating but can work without any damages.

By end-user

  • Retread Tires

  • OEM tires

  • Replacement tires

By platform

  • Rotary wing

  • Fixed-wing

By market application

  • Regional Transport Aircraft

  • Narrow Body Aircraft

  • Very Large Aircraft

  • Wide Body Aircraft

By geography

  • North America

  • Asia pacific

  • Europe

  • Middle East

Regional analysis

The global aircraft tire market is fragmented into North America, Europe, Asia Pacific and the Middle East. The military base in this region is high. The investments in the aircraft tire market are massive in North America. Europe is the second-largest aircraft tire market. Further, the aircraft tire market by type segment is witnessing high growth rates. The plenty of military and aircraft programs propel the market growth in this region. The growth rate in this region is promising in the upcoming years. The Asia Pacific is well known for its powerful aircraft tire market. The market opportunity is massive in Asia pacific region. The growth rate will reach its peak in the forecast year 2025.

The key players of the aircraft tire market are

  • Aviation Tires & Treads, LLC

  • Bridgestone Corporation

  • Petlas Tire Corporation

  • Compagnie Générale Des Établissements Michelin Sca

  • Speciality Tires of America

  • The Goodyear Tire & Rubber Company

  • Desser Tire & Rubber Co., LLC

  • Dunlop Aircraft Tyres Ltd

  • Wilkerson Company, Inc

  • Qingdao Century Tire Co., Ltd

The Recent Developments

  • The key players of the market are establishing new contracts with the aviation industry to expand the market. The major key players are making this development to increase their brand value.

  • The key players of the market introducing aircraft tire that comes with artificial intelligence, optical sensing and magnetic propulsion.

  • The key players of the aircraft tire market are planning more partnership and acquisition plans. It is a measure to increase the overall growth of the market.

Report overview

  • Market overview highlights

  • Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Value chain analysis

  • Market segmentation overview

  • The regional analysis

  • Competitive landscape analysis

  • 8.Recent Developments

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Frequently Asked Questions (FAQ) :

Aircraft Seals Market Size Valued at USD 1,323 Million, market Grow at a CAGR Of 5.9% by 2020 -2030

Aviation Tires & Treads, LLC,Bridgestone Corporation,Petlas Tire Corporation,Compagnie G√©n√©rale Des √Čtablissements Michelin Sca,Speciality Tires of America,The Goodyear Tire & Rubber Company,Desser Tire & Rubber Co., LLC,Dunlop Aircraft Tyres Ltd,Wilkerson Company, Inc,Qingdao Century Tire Co., Ltd

The massive demand for aircraft tire driven by the growing increasing air passenger traffic is the primary growth inducer of the market.

The radial ply segment is expected to observe substantial demand over the review period.

The business and general aviation aircraft segment is expected to secure the highest CAGR.