The global aircraft tire market determines its development from the rise in global air passenger traffic in the course of these recent years provided by declining airfare, expanding per capita income, and enhanced standard of life, particularly in the developing nations. Aviation goliaths are vigorously putting resources into new aircrafts to tap the open doors offered by a significant air passenger base which creates upgraded interest for aircraft tires. Low level of safety requirements, low service life and normal investigation result in the continuous substitution of aircraft tires which makes a favorable domain for the development of the global aircraft tire market. In the interim, the development of the aeronautics business in APAC is probably going to introduce worthwhile opportunities for the global aircraft tire market. Additionally, relaxation amendments made in the aviation industry guidelines and extension of airline budget are relied upon to look good for the market. The market is expected to reach the value of USD 1,525.6 Mn by the end of 2023 by growing at a CAGR of 4.29% during the forecast period (2018-2023).
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Based on its product type, the global aircraft tire market is classified into radial ply and bias ply. On the basis of its aircraft type, the market is bifurcated into military, commercial, business and general aviation aircraft. On the basis of its en-users, the market is sectioned into OEM and aftermarket.
Geographically, the global aircraft tire market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Desser Tire & Rubber Co., Michelin (France), and Dunlop Aircraft Tyres Ltd (UK), The Goodyear Tire & Rubber Company (US), Bridgestone Corporation (Japan), Specialty Tires of America, Inc. (US), among others are some of the major players in the global aircraft tire market.