Aircraft Tires Market By Tire Type (Type III, Type VII Aircraft Tires, Type VIII (Three Part Type) Aircraft Tires, Metric Aircraft Tires), By Design (Bias Ply Aircraft Tires, Radial Ply Aircraft Tires), By Tire Assembly (Tubeless Tires, Tubed Tires), By Tire Tread (New Treaded Tires, Retreaded Tires), By End-user (Commercial, Defense), By Aircraft Type (Fixed Wing Aircrafts, Rotary Wing Aircrafts) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

A steadily growing aviation industry worldwide drives the demand for aircraft tires.

The overall aircraft tire market is expected to grow steadily from 2018 to 2026, increasing from US$ 1,260.4 million in 2017. Aircraft tires are among the most dynamically engineered components present onboard aircraft. Although for short durations, these tires are designed to withstand extremely heavy loads operating at high speeds of more than 150 miles per hour. The market is primarily driven by the consistently rising commercial aviation industry worldwide. The commercial aviation industry, especially in India and China, has been witnessing high growth for the past few years. The two countries set records for commercial aircraft orders in 2017 and 2018. Subsequently, the demand for related components, including aircraft tires, is projected to remain strong during the forecast period.

Market Synopsis

Growing Asia Pacific Aviation Sector to Retain Dominant Position in Commercial Aircraft Tires Segment

In 2017, the commercial aircraft tires segment dominated the overall aircraft tires market worldwide. Although the overall defense aircraft fleet is larger than commercial airliners, the replacement rate and volume of commercial aircraft tires are fairly high. In addition, commercial segment growth is driven by the higher frequency of operations over defense aircraft. The commercial aircraft tires segment is expected to demonstrate a higher growth rate during the forecast period on account of the rapidly growing commercial aviation industry in Asia Pacific.

Asia Pacific to Surpass North America's Aircraft Tires Market in the Near Future

In 2017, North America led the overall aircraft tire market, closely followed by the Asia Pacific region. The U.S., having the largest defense as well as commercial aircraft fleet globally, mainly governs the market in North America. Asia Pacific is set to register the highest growth rate in aircraft tires during the forecast period. India and China are witnessing the highest growth in commercial, defense, and cargo aircraft in the region. According to the International Air Transport Association (IATA), China is set to surpass the U.S. commercial and general aviation markets by 2022, with India attaining the third spot. As a result of the region's constantly increasing number of air travelers, the region would experience high demand for commercial aircraft, driving demand for aircraft tires. As a result, the Asia Pacific aircraft tire market is expected to surpass North America in the near future.

Increased Complexity in Aircraft Tire Manufacturing to Ensure Market Consolidation Throughout the Forecast Period

The aircraft tyre market worldwide is highly consolidated. The top three companies in the market, viz., Michelin Group, Bridgestone Corporation, Goodyear Tire & Rubber Company, and Dunlop Aircraft Tyres Ltd., collectively account for more than 80% of the total market revenue generated worldwide. Despite numerous players operating in the overall tyre market, the aircraft tyre market has a relatively smaller number of players. Very few tyre companies possess the technology to produce aircraft tyres due to the stringent requirements for high performance and operation in extreme climate conditions.

Market players can be seen emphasizing the retreaded tires segment considering its continually increasing consumption in the market. Furthermore, given the low cost of manufacturing and the rapidly growing aviation industry in Asia Pacific, the majority of companies have established manufacturing and retreading plants there. Some of the major players profiled in the report include Michelin Group, Bridgestone Corporation, Goodyear Tire & Rubber Company, Dunlop Aircraft Tyres Ltd., Qingdao Sentury Tire Co., Ltd., Desser Tire & Rubber Co., LLC, Guilin Lanyu Aircraft Tire Development Co., Ltd., Petlas Tire Corporation, Specialty Tires of America, Inc., and others.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The aircraft tyres market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global aircraft tyres market based on tyre type, design, tyre assembly, tyre tread, end-user, aircraft type, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the size of the market for aircraft tyres in 2017, and what is the forecast up to 2026?
• Which is the largest regional market for aircraft tires?
• What are the notable market trends observed in the aircraft tyre market?
• Who are the key players leading the market?
• What are the key strategies adopted by the leading players in the market?

This report's distinct data points

• Statistics on commercial and defense aviation across different geographic regions and countries
• Statistics on spending on defense aircraft across major countries
• Key trends on the use of new tyres and retreaded tyres
• attractive investment proposition for tyre type segments as well as geography
• Comparative scenario for all the segments for years 2017 (actual) and 2026 (forecast)

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