Aircraft Retread Tires Market By Process Type (Pre Cure and Mold Cure), By Aircraft Type (Commercial and Defense), By Tire Type (Type III, Type VII, Type VIII (Three Part Type), and Metric), By Design (Bias Ply Tires and Radial Ply Tires), By Tire Assembly (Tubeless Tires and Tubed Tires) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027

Growing Commercial Aviation Worldwide to Boost the Demand for Aircraft Retread Tires

The aircraft retread tires market worldwide is projected to rise with a CAGR of 4.2% during the estimated period from 2019 to 2027, starting from US$ 692.3 Mn in 2018. The growth of commercial aviation worldwide is the primary factor driving the aircraft retread tires market. Focus on the lower operating cost of the aircraft and rising international tourism are the other major factors for market growth. In addition, eco-friendly, safe & secure, low cost, and other benefits of retread tires will boost the demand for the market. Furthermore, increasing penetration of retread tires in the defense sector will also surge the demand for the aircraft retread tires market. Subsequently, the need for aircraft retread tires will be strong during the forecast period. 

Market Synopsis

Defense Segment to be the Fastest Growing Segment

The global aircraft retread tires market by aircraft type is segmented into commercial and defense. In 2018, the commercial segment led the global aircraft retread tires market. The commercial segment contributed over 60% of the global revenue share in the same year. The segment is primarily driven by growing passenger traffic and expansion of new routes by airlines; on the other flip of the coin, the defense segment is the fastest growing segment due to the rising adoption of retread tires in defense aircraft. In addition, increased government investments in the defense sector in the Asia Pacific region will be another significant factor driving the growth of the defense segment. Thus, the demand for aircraft retread tires will be more in the defense segment.

The Asia Pacific to be the Fastest Growing during the Forecast Period

In 2018, North America was the largest value contributor in the global aircraft retread tires market, followed by the Asia Pacific. North America contributed around 60% of the global revenue share in the same year. North America dominates due to the extensive use of retread tires in the aircraft industry. On the other hand, the Asia Pacific is set to register the fastest growth during the forecast period owing to rising air traffic and increased government investments in the defense sector. In addition, emerging economies such as China and India will be major contributors to the Asia Pacific aircraft retread tires market.

Some of the prominent players operating in the aircraft retread tires market include Bridgestone Corporation, Goodyear Tire & Rubber Company, Desser Tire & Rubber Co LLC, Marangoni S.p.A., Michelin Group, Oliver Rubber Company, Qingdao Sentury Tire Co., Ltd., Dunlop Aircraft Tyres Ltd., Wilkerson Co, Inc., and others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027. 

Report Scope by Segments

The aircraft retread tires market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global aircraft retread tires market based on process type, aircraft type, tire type, design, tire assembly, and geography.

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