Aircraft Tires Market worth 1.37 Bn USD by 2020, According to a New Study on ASDReports

Friday 5 February 2016, Amsterdam

The report, now available on ASDReports, "Aircraft Tires Market by Application (Commercial, & Defense), By Aircraft Type (VLA, NBA, WBA & RTA), by Product Type (Radial & Bias), by End User (OEM, Retreaded, & Replacement), by Platform (Fixed & Rotary Wing), and by Geography - Global Forecast to 2020" , analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Asia-Pacific, Europe, and the Rest of the World.

The aircraft tires market is projected to reach USD 1.37 Billion by 2020, at a CAGR of 4.35%. A number of factors, such as increasing demand for aircraft and frequent tire replacement requirement as well as growing concern about safety requirements, are expected to drive the growth of the aircraft tires market.

The commercial segment to dominate the aircraft tires market, segmented based on application.

This segment dominates the studied market segmented on the basis of applications and is expected to continue its dominance over the next five years, primarily driven by the increasing demand for aircraft for air travel and frequent replacement requirement for aircraft tires. This is also because oone of the requisites for a commercial aircraft manufacturer is to improve the aircraft’s operational efficiency by reducing its overall weight.

The radial segment is expected to grow the highest during the forecast period.

The global aircraft tires market has been segmented and analyzed in terms of two types of products which include bias and radial, wherein the bias segment dominates the overall market, and is expected to exhibit a similar trend during the next five years. It is expected to dominate the market owing to the increasing demand for air travel and frequent replacement requirement for aircraft tires.

The aircraft tire market is expected to witness the highest growth in the Asia-Pacific region.

The Asia-Pacific region has been witnessing strong growth for aviation industry over the past few years, mainly driven by increasing demand from commercial airlines segment in this region, which in turn is expected to bolster the aircraft tires market. This growth can be attributed to the increase in government spending for infrastructure development, liberalization of regulations related to air transport, and growing GDP of the region.

Compagnie Générale des Etablissements Michelin (France.): One of the key players in the aircraft tires market

The major players in this market are Goodyear (U.S.), Michelin (France), Bridgestone (Japan), and Dunlop Aircraft Tires (U.K.).

The report classifies the aircraft tires market based on product type, end user, platform aircraft type and application. The market has been segmented based on end user into OEM tires, replacement tires, and retread tires. It has been segmented further based on application into commercial aviation and military aviation. Based on the aircraft type, the market is segmented into narrow body aircraft, wide body aircraft, very large aircraft, and regional transport aircraft.