The Aircraft Tires Market size is projected to grow from USD 1.4 Billion in 2022 to USD 1.6 Billion by 2027, at a CAGR of 2.9% from 2022 to 2027. The demand for the installation of lightweight, fuel-efficient tires inside of aircrafts, which would result in weight savings and lower operating and maintenance costs for end users, is what propels the adoption of advanced aircraft tires.
The Radial Ply Tires segment is projected to dominate market share in the system segment during the forecast period
Based on type, the radial ply tires segment is projected to dominate market share during the forecast period. The market is further segmented into radial ply and bias ply tires. Improved traction and cut-resistance properties, overall fuel-efficiency with lower carbon emission, and better technical and design advancements in terms of light weight and durability are the elements that fuel the market growth of radial ply tires.
The Commercial Aviation segment projected to lead Aircraft Tires market during the forecast period
Based on Platform, the commercial aviation segment is projected to lead the Aircraft Tires market during the forecast period. Increase in the demand from airlines for commercial aircraft in order to satisfy the demand for the air traffic will influence the market.
The Fixed-wing segment projected to lead Aircraft Tires market during forecast period
Based on Platform, the fixed-wing segment is projected to lead the aircraft tires market during the forecast period. A growth in intercontinental and long-haul flight operations will spur demand for fixed-wing aircraft deliveries and, consequently, influence the aircraft tires industry.
Retreading segment is expected to account for the largest share in 2022
Based on End User, the retreading segment is projected to lead the aircraft tires market during the forecast period. The demand for this segment is being driven by the less expensive and more environmentally friendly replacement for new tires. Rethreads also give customers financial advantages owing to lower cost per mile and environmental advantages due to large raw material reductions, which will support market expansion.
Main Landing Gear segment is expected to account for the largest share in 2022
Based on Position, the main landing gear segment is projected to lead the aircraft tires market during the forecast period. The main landing gear tires are more load- and pressure-rated to endure rough terrain. Additionally, the market growth of the main landing gear tires is influenced by the increase in demand for narrow and wide body aircrafts, which typically deploy 4 to 20 tires for the main landing gears.
North America is expected to account for the largest share in 2022
The Aircraft Tires market industry has been studied for North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for the largest market share in 2022, and Asia Pacific is projected to witness the highest CAGR during the forecast period. The increasing need for air travel in the area is expected to increase demand for commercial and general aviation. Major airlines will expand their fleet size to satisfy demand, which will have an impact on the region’s market for airplane tires.
Major players operating in the Aircraft Tires market include Michelin (France), Goodyear Tire and Rubber Company (US), Bridgestone Corporation (Japan), Dunlop Aircraft Tyres Ltd. (UK), and Qingdao Sentury Tires Company Limited (China).
The report segments the aircraft tires market based on Type, Aircraft Type, Platform, End User, Position, and Region. Based on Type, the market is segmented into Radial, Bias. Based on Aircraft Type, the Aircraft Tires market is segmented into commercial aviation, business & general aviation and military aviation. Based on Platform, the market is segmented into Fixed wing and Rotary Wing. Based on End User, the market is segmented into OEM, Retreading, Replacement. Based on Position, the market is segmented into Main Gear & Nose. The Aircraft Tires market has been studied for North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the aircraft tires market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; Contracts, partnerships, agreements new product & service launches, mergers, and acquisitions; and recent developments associated with the aircraft tires market. Competitive analysis of upcoming startups in the aircraft tires market ecosystem is covered in this report.
Reasons To buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aircraft tires market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on aircraft tires offered by the top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the aircraft tires market
- Market Development: Comprehensive information about lucrative markets – the report analyses the aircraft tires market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the aircraft tires market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players in the aircraft tires market