Stratview Research has published a new market research report titled Aircraft Tires Market. According to the report, the Aircraft Tires Market is Segmented by Aircraft Type (Commercial Aircraft, Regional Aircraft, Military Aircraft, Helicopter, and General Aviation), by Tire Type (Radial Tire and Bias Tire), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Stratview Research has concluded that the Aircraft Tires market which accounted for US$ 1.5 billion in 2021, is estimated to register an uncharted growth trajectory by recording a promising CAGR of 6.1% to reach a market value of US$ 2.6 billion in 2027. The recovery trajectory of tires would be different for different regions and aircraft types.
The report identifies and discusses the short-term as well as long-term opportunities for the market participants across segments, helping them to build their strategies targeting high-growth market segments.
Segment Analysis
Based on the aircraft type, the market is segmented as commercial aircraft, regional aircraft, military aircraft, helicopters, and general aviation. During the projection period, commercial aircraft will continue to lead the market.
An expected recovery in air passenger traffic is likely to imprint a positive impact across the supply chain including the demand for tires. An expected rise in flying activity paired with higher wear and tear of tires is likely to drive the demand for tires at the aftermarket level. Continuous rise in military aircraft production is further estimated to drive the demand for tires in the years to come.
Based on the tire type, the market is segmented into the radial tire and bias tire. A radial tire is expected to remain the dominant as well as the faster-growing tire type in the market during the forecast period. The demand for radial tires is driven by continuous innovations targeting a reduction in weight, increased durability, and mobility. These aspects enable companies to improve fuel efficiency, tire life, and passenger comfort, resulting in higher usage of radial tires in the industry.
Based on the end-user type, the market is segmented as OE and aftermarket. Aftermarket is expected to remain the dominant segment of the market during the forecast period. The long service life of aircraft requires a large number of tires throughout its lifetime. Aircraft tires are subjected to operation in extreme temperatures and pressure.
Tires continuously degrade during take-off and landings. Take-off is the most common cause of wear tear of tires as the aircraft is fully loaded with fuel, passengers, and luggage. Tires are already pre-heated by taxiing on the runway, making take-off more crucial leading to the wearing of tires, creating a greater demand for tires.
In terms of regions, Asia-Pacific is expected to remain the largest market for aircraft tires during the forecast period. Major countries in the region (China, India, Japan, Singapore, and South Korea) have a large fleet of aircraft in order to meet the large passenger traffic. Furthermore, these countries also generate a sustained demand for new aircraft to address the incessant rise in passenger traffic. North America and Europe are other markets and are likely to generate a sizeable demand for tires in the years to come.
Report Customization Options
With this detailed report, Stratview Research offers one of the following customization options to the users -
Company Profiling -Detailed profiling of additional market players.
Competitive Benchmarking
The benefits of competitive benchmarking are clear: By comparing their performance to their competitors, users can catch trends early and adjust their marketing goals accordingly. This report provides authentic competitive benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
Key players
The key players active in the Aircraft Tires Market mentioned in the report are as follows -
- Compagnie Generale Des Etablissements Michelin S.C.A.
- Bridgestone Corporation
- The Goodyear Tire Rubber Company
- Dunlop Aircraft Tyres Ltd.
- Mitas a.s. (a Trelleborg A.B. company)
- Kumho Tire Co. Inc.
- Petlas Tire Corporation
- Qingdao Sentury Tire Co., Ltd.
- Specialty Tires of America
- Wilkerson Company, Inc.
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
FAQs in the Report-
What will be the size of Aircraft Tires Market in the foreseeable years?
Who are the key players in the Aircraft Tires Market?
Which country/region is expected to at highest rate in the Aircraft Tires Market?
Which Application type is expected to remain dominant in the Aircraft Tires Market?
What does the supply chain of Aircraft Tires Market comprise of?
Which region is expected to maintain its leading position in the market?
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries. With this report, Stratview research also offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected] or connect with our experts at - +1-313-307-4176.
