Global Aircraft Tire Market – Recent Industry News
September, 2017: Goodyear’s ultra-lightweight Flight Radial aviation tire was certified by Boeing Co. for use on its 777X airplane.
June, 2017: Bridgestone aircraft tire expanded its warehouse operation, in Madison, U.S.
Aircraft Tire Key Players
These are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global aircraft tire market.
- Aviation Tires & Treads LLC
- Bridgestone Corporation
- Michelin
- 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)
- others
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Global Aircraft Tire Market – Overview, Segments and Regional Analysis
The global market for aircraft tire is increasing at a 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 estimated to witness a slow but steady growth in the year, 2023, and a moderate CAGR during the projected period (2017 -2023)
An aircraft tire is designed to bear extremely heavy loads for short periods. Aircraft tires are manufactured with different kind of materials, such as nylon cord, steel, natural and artificial rubber and others. The tire consists of casing plies, these plies are made of steel wires layer of fabric cord which are coated with hi-modulus rubber on both the side. The casing plies provides strength to the tire and assists in increasing its life span. There are various aircraft tire manufacturers who provides tire to military and civil segments so as to serve air force and naval force.
Rise in aircraft orders and increasing demand for more fuel-efficient radial aircraft tires are the major drivers in this market. Moreover, demand for aircraft tires is increasing in the commercial aviation and defence industry. Most aircraft tires are handmade according to the guidelines of the Federal Aviation Administration (FAA). Research and development are carried out to improve the life span of tires. Moreover, engineers are involved in determining the type and size of tires that meet normal as well as emergency requirements.
Rise in geo-political tension has led to increased investment in the defence sector. Moreover, the number of global air passenger is increasing due to rising disposable income and growth in business activity. As a result, this has been driving the aircraft tire market in near future. Additionally, recently, there have been rising number of incidents of air crashes. Some of these air accident occur due to technical issues of tires. FAA has addressed the issue and considered proper procedures related to the design of aircraft. This leads to frequent replacement of aircraft tires, and this is a major factor for the expansion of the aircraft tire market in the forecast period.
In terms of application, the global aircraft tire market can be segmented into commercial and defence segment. The commercial segment held a considerable share of the aircraft tire market, and the segment is estimated to maintain its dominant position in the market during the forecast period. Increasing frequency in air travel coupled with the necessity to maintain safety measures raises the demand for aircraft tires. Aircraft tires are replaced on a regular basis to meet the safety standard, which is estimated to increase the demand for aircraft tire during the forecast period.
On the basis of product type, aircraft tire market has been segmented as radial tire and bias tire. Bias segment dominate the aircraft tire market during the forecast period owing to the rise in demand of air travel and frequently replacement of the aircraft tire. Most modern aircraft uses radial tires. Piles of radial tires are situated at a 90-degree angle with the direction of the rotation of the tire. This flexibility improves the strength of the tire by providing it greater exposure to lift high load with least deformation. The additional advantages of radial tires are projected to boost its market share during the forecast period. The radial tires segment is anticipated to expand rapidly during the forecast period.
The aircraft tire market has been segmented into regions, such as North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held a significant share of the market and it is likely to maintain its position in the market during the forecast period. Asia Pacific includes a large number of emerging economies, such as India, China, and South Korea. This, in turn, is likely to drive the aircraft tire market during the forecast period. Moreover, rise in number of budget airlines are expected to fuel the aircraft tire market in the region.
Intended Audience:
- Aircraft tire manufacturers
- Distributer & Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
The report for Aircraft tire Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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