Market Highlights:
The Global Aircraft Tire Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Aircraft Tire will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).
As of 2016, there were more than 22,000 active commercial wide body and narrow body aircraft across the globe. These existing commercial fleets are expected to be replaced by more than 40,000 new aircraft, over the next 20 years, and the global fleet is likely to reach 45,000 aircraft by 2036. Moreover, the high demand for air travel in the emerging regions, such as Asia, Latin America, and the Middle East, leads to an increase in the number of aircraft in these regions. As a result, approximately 22,000 commercial aircraft are expected to be delivered to these regions in the next 20 years. On the other hand, it is expected that over 15,000 commercial aircraft would be delivered in developed regions such as North America and Europe, by 2036.
Moreover, the global military aircraft fleet, as of 2016, was over 53,000, with the US having the largest share (26%) of the military planes, followed by Russia (7%), China (6%), and India (4%). With the increasing defence budgets of a number of countries, there have been high development and procurement of military aircraft, in the recent years.
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Major Key Players
Aviation Tires & Treads, LLC,
Bridgestone Corporation,
Compagnie Générale Des Établissements Michelin Sca,
Desser Tire & Rubber Co., LLC,
Dunlop Aircraft Tyres Ltd.,
Goodyear Tire & Rubber Co.,
Petlas Tire Corporation,
Qingdao Sentury Tire Co., Ltd.,
Specialty Tires of America,
Wilkerson Company, Inc. (Wco)
Industry/ Innovation/ Related News:
June, 2017 – Private equity firm Liberty Hall Capital Partners L.P. acquired Dunlop Aircraft Tyres Ltd. for $135 million from AAC Capital Partners and other shareholders. AAC Capital Partners has been the Birmingham, England-based tire maker’s majority owner since 2007.
December, 2016– Bridgestone Corporation announced planned to construct two new manufacturing plants in Thailand. One plant will produce new aircraft tires, while the second plant will produce retread aircraft tires. The total investment will be approximately JPY15.0 billion (USD 150 million*2) and both new plants are scheduled to start production in December 2019. The Bridgestone Group has been operating in Thailand for roughly half a century, and the establishment of new plants in this country is expected to further contribute to its economic and industrial development.
December, 2015 – The Goodyear Tire & Rubber Company was selected by The Boeing Company to provide nose and main landing gear tires for its new 777X aircraft, which is scheduled for delivery in 2020. Building on the success of the Boeing 777 and 787 Dreamliner, the Boeing 777X will be the largest and most efficient twin-engine jet in the world, unmatched in every aspect of performance, according to Boeing officials
June, 2015 – Intralogistics automation specialist, Cimcorp, secured the biggest order in its history from Chinese tire manufacturer, Qingdao Sentury Tire Co Ltd, for a turnkey material handling solution at its new factory in Thailand. The order, valued at nearly 30 million euros, is for a fully automated handling system based on Cimcorp’s Dream Factory solution and will cover the handling of PCR (passenger car radial) green tires from the tire-building machines to the curing presses, as well as finished tire sorting, palletizing, warehousing and shipping.
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Regional Analysis
Asia-Pacific region has witness a high growth during the forecast period due to the increasing demand by the commercial airlines segment which indirectly will boost the aircraft tires market. Government spending for infrastructure development, liberalization and GDP growth in this region has resulted in the growth of Asia-Pacific.
Intended Audience:
- Aircraft tire manufacturers
- Distributer & Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
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