Aircraft Tire Market To Reach USD 1.8 Billion By 2027 | CAGR 3.9% - Forencis Research

Aircraft Tires Market Size, Share, Trends, Growth, Analysis, Research

Global Aircraft Tire Market: Key Highlights

  • According to the new market research report “Aircraft Tire Market by Tire Technology (Bias, Radial), by Component (Tread, Sidewall, Bead, Liner), by Aircraft Type (Single Aisle Aircraft, Twin Aisle Aircraft, Business and General Aviation, Others ), by Sales Channel (OEM, Aftermarket), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America,) – Global Forecast (2019 to 2027)”, the global aircraft tire market is estimated to reach USD 1.8 Billion by 2027 at a CAGR of around 3.9% during the review period.
  • Increasing aircraft requirement across the globe, increasing air passengers in the developing countries, recurring demand of aircraft tires are few key factors among others driving the demand for aircraft tire.
  • However, negative impact on environment caused by the manufacturing of tires remains a major restraining factor for the growth of the aircraft tire market.

Aircraft Tire Market

Global Aircraft Tire Market: Key Market Dynamics

  • Recurring demand for renewal of tires is expected to drive the market of aircraft tire as the tires faces extreme weather condition, frequent change in ambient temperature, abrasion occurs quite frequently.
  • Negative impact on environment caused by the manufacturing process of the tire is expected to restrain the market as the aircraft tire are manufactured by the vulcanized rubber and this process of vulcanization affects the environment.
  • Demand in emerging market is expected to rise the market in near future as the emerging markets may require large number of aircrafts not only for general purposes but also used for military applications.

 

Global Aircraft Tire Market: Regional Overview

  • Asia-Pacific

Aircraft tire market in Asia-pacific is expected to increase with fastest growth rate. Improved living standard in the developing countries, increasing per capita income of emerging economies which results in growing air travelers the aircraft industry is projected to grow in this region. Moreover, the air fleet size is increasing for the military application with substantial rate. Thus, such increasing demand of various aircraft in the region is expected to surge the sale of aircraft tire in the region.

  • Europe

The aircraft tire market is predicted to have notable market share in Europe due to the presence of the manufacturing plants of key players of the aircraft industry. There are five significant aircraft manufacturing plants in the region owned by Airbus and its subsidiaries, Dassault Aviation, and Daher. Hence, presence of major aircraft manufacturers in the European region, is projected to fuel the demand of aircraft tire.

Global Aircraft Tire Market: Key Players Overview

  • The Goodyear Tire & Rubber Company:

The Goodyear Tire & Rubber Company is the US-based multinational company engaged in the manufacturing of tires. The product portfolio of the company is categorized as all-season tires, all-terrain tires, fuel-efficient tires, sport performance tires, run on flat tires, summer tires, and winter tires. Aviation tires products have two segments for the product portfolio based on tire line and based on application. In 2019, the company announced to supply Flight Radial tire to Boeing for the auxiliary and main landing gear of Boeing 777X.

  • Dunlop Aircraft Tyres Limited:

Dunlop Aircraft Tyres Limited is the UK-based manufacturing company that deals solely in aviation tires. The firm have tires as per the requirement of the end use, the product portfolio of the firm have tires for Boeing 737 classic, Boeing 737 Next Generation, Boeing 747, Bombardier CRJ 100 and CRJ 200, and for other models. In 2019, the company initiated planning to expand the business in Indonesia as the country have ample amount of rubber which is the vital requirement for the manufacturing of the tires.

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Published : 2020-02-21