Aircraft Tire Market Is Expected to Lead by Asia Pacific Region
An increasing number of aircraft in developing countries and development in tire technologies and material drives the global aircraft tire market through 2028.
According to TechSci Research report, “Aircraft Tire Market- Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2030F”, Global Aircraft tire demand is rising in developing countries. Tire for an aircraft is designed to support extremely heavy loads during take-off, landing, and parking. Manufacturers face a problem in developing tires that have low-temperature running, heat-resistant materials, and still, meet tire service requirements. Tire prototypes that imitate take-off, landing, are put through tests. Only after the tires have completed all necessary testing and met the requirements established by the aircraft's manufacturer and the aviation authorities are they made available for production.
Fuse plugs are another component of aircraft tires; they melt at a particular temperature. Tires typically overheat if maximum braking is employed during an emergency landing or failed take-off. The fuses provide a safer failure mechanism that reduces tire explosions by managing tire deflation, hence limiting damage to neighbouring objects and aircraft.
The civil aviation tire division of ChemChina is to establish a new factory with a capacity of 50,000 brand-new aircraft tires and 50,000 retread tires. Bridgestone Corporation and Japan Airlines (JAL) announced the use of tire wear prediction technologies. The need for technical integration forces tire producers to spend more money on R&D. As a result, there are more investments being made in the aircraft tire sector.
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The government of several countries actively finances and supports the aviation tire business. The need for military aircraft is also very high in the defence sector. Additionally, the demand for UAVs and aircraft carrying armaments is growing. The demand for aircraft from various markets is the main factor driving the industry. Major companies are investing in expanding their capacity to produce aircraft tires in order to meet the rising demand. In response to the rising demand for low-cost air travel, most airlines are increasing the number of aircraft travel per day, driving the demand for aircraft tires internationally.
The global aircraft tire market is segmented by end user, aircraft type, type, distribution channel, region, and competitive landscape. On the basis of end user, the market is segmented into commercial aircraft, general aviation aircraft, and military aircraft. The commercial aircraft segment is further divided into passenger and cargo. The general aviation aircraft segment is divided into piston, turboprop, business jet. The military aircraft segment is divided into cargo/bomber, fighter, trainer. Based on the aircraft type, the market is segmented into fixed wing aircraft and rotary wing aircraft. Based on type, the market is segmented into radial and bias. Based on distribution channel it is divided into aftermarket and OEM. The market analysis also segmented by region among Asia-Pacific, Europe, North America, South America, Middle East & Africa.
Some of the major companies operating in the global aircraft tire market include:
Bridgestone Corporation
Goodyear Tire and Rubber Company
Specialty Tires of America Inc.
Dunlop Aircraft Tyres Limited
Michelin
Desser Tire & Rubber Co. LLC
Wilkerson Company Inc
Aviation Tires & Treads LLC
SAIC
Petlas Tire Corporation
These are the key players developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers with tech firms, new product developments, and marketing activities to increase customer outreach.
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“The global aircraft tire market is majorly driven by increasing air traffic and increasing investment in research and development of material and design. Furthermore, the Asia-Pacific region is likely to lead the market as many developing countries prefer air travel for transportation. Also, it is anticipated that Asia-Pacific will maintain its lead in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Aircraft Tire Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2030F Segmented By End User (Commercial Aircraft (Passenger, Cargo), General Aviation Aircraft (Piston, Turboprop, Business Jet), Military Aircraft (Cargo/Bomber, Fighter, Trainer)), By Aircraft Type (Fixed Wing Aircraft, Rotary Wing Aircraft), By Type (Radial, Bias), By Distribution Channel (OEM, Aftermarket), By Region,” has evaluated the future growth potential of global aircraft tire market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global aircraft tire market.
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