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Global Aircraft Tires Market 2021: By Product Type (Radial, Bias), By Supplier (OEMs, Aftermarket), By End-user (Commercial Aviation, Military, General Aviation)Global Aircraft Tires Market is a research report on the target market, and is in process of completion at Trusted Business Insights. The report contains information and data, and inputs that have been verified and validated by experts in the target industry. Primary and secondary research efforts have been exhaustively invested to ensure only the most accurate insights are provided into the target market. Various geopolitical and political factors are also considered to enable justification of all findings. Ongoing trends, factors that are driving market growth, and potential restraints to market growth are also included. Forecast and opportunity analysis is also presented in the respective section of the report. Potential revenue opportunities in untapped regions and countries, as well as threats or challenges are also presented. Company profiles of key players comprise company details, recent developments, strategies, and acquisitions and mergers etc. The global aircraft tire market is segmented according to product type, supplier, end-user, and region. Regions are further sub-segmented at country level, and revenues for each segment presented according to each region and country. The Global Aircraft Tire market size was valued at USD $2.13 Billion in 2020, USD $2.21 Billion in 2021, forecasted to reach USD $2.29 Billion in 2022, and is projected to reach USD $2.97 Billion by 2030, and is anticipated to expand at a CAGR of 3.63% over the forecast period from 2020 to 2030.
OverviewAircraft wheels are incomplete without tires. The rubber tires are generally among some of the most crucial component among the various critical components in an aircraft. Tires are designed and manufactured to bear a vast volume of load and weight, apart from major friction and load during landings. Aircraft tires are required to be lightweight, but still be durable owing to the fact that passenger aircraft have capacity to carry a large passenger load, as well as valuable cargo. The Airbus A380-800, also nicknamed the ‘Superjumbo, is the biggest passenger airplane in the world, and has passenger seating capacity of 853. Aircraft tires are ideally changed or replaced after a little over 200 landings in order to avoid possibility of an accident as a result of wear and tear or weakness.
DynamicsAmong some of the major factors projected to continue to fuel demand for tires in the aviation industry are increasing production of aircraft units and tires owing to rising demand from both, developed and developing economies globally. Major service providers are focusing on brand image, enhancing customer experience, and value addition, as rising preference for air travel over road or others has been resulting in the number of consumers requiring to be served a challenge. Major expansion in the commercial aviation sector is due to various service providers increasing focus on expanding regional and international reach, number of routes and destinations. In addition to major expansion in the commercial aviation sector, military expansion has been ongoing since the last decade. Increasing military and defense investments by governments of all major countries is also resulting in rising demand for new aircraft, and overhaul of those currently in service. These are some of the key factors expected to drive overall growth of the global aircraft tires market. Opportunities for players in the market is being driven by technological advancements, Emergence of adaptive aileron technology is projected to open up more potential opportunities in the global aviation market in future. A major trend observed in the highly competitive market is that cost is a key factor driving competition, quality and reliability are other factors, and aftermarket service is another. Major focus of vendors is on newer product offerings, increasing market footprint, increasing R&D focus to develop more advanced offerings, as well as focusing on expanding client base.
Global Aircraft Tires Market Segment Analysis:Product Type: Among the product type segments, the radial segment is projected to account for majority revenue share in the market as compared to the other product type segment over the forecast period. Supplier: Among the supplier segments, the OEMs segment in the global aircraft tires market currently dominates the market in terms of revenue share, and the dominance is projected to continue over the forecast period. End-user: The commercial aviation segment is projected to continue to account for highest revenue share in the global aircraft tire market owing to increasing investments in infrastructure development in countries such as the US and Canada, and growing fleets in the commercial aviation sector.
Global Aircraft Tires Market Regional Analysis:The North America market for aircraft tires is projected to account for highest overall revenue share over the forecast period. Increasing defense and military spending, and focus on research and development related to the aviation and aerospace industry, especially in the US, and increasing commercial and military aircraft fleets are attributable for this projected growth. Asia Pacific, among other regional markets in the region, has been projected to account for fastest revenue share growth in the global aircraft tires market over the next ten years. The number of passengers opting to fly instead of using other modes of transport has been increasing substantially over the recent past. Increasing per-capita income, rising spending capacity, favorable holiday packages, less stringent regulations related to travel and tourism, and expanding domestic and international routes and fleets in countries in the region are primary factors driving market growth. In addition, import and export of goods has also been increasing significantly in the recent past.
Below are the active patents related to Aircraft Tire Market.Patent Number: US6983911B1 Aviation tire Abstract An aviation tire including, a pair of side walls, the side walls having an outer surface, a tread portion spanning a radial outer extremity of the side walls, and a rotating assembly formed on the side wall or the tread portion, the rotating assembly having an increased resistance to wind when located at a lowermost portion of the tire. Type: Grant Filed: 2003-10-30 Date of Patent: 2006-01-10 Inventor: Thomas D. Nordquist
Below are the leading companies profiled in this Aircraft Tire Market Report:
Chapter 1 Methodology and Scope