5th Floor, Brigade Towers,
Financial District, Gachibowli,
Hyderabad - 500032,
The Aircraft Tires Market is segmented by Type (Radial, Bias), Supplier (OEM, Aftermarket), End-User (Commercial, Military, General Aviation), and Geography.
Fastest Growing Market:
Greater Than 3.5 %
The aircraft tires market is anticipated to register a CAGR of over 3.5% during the forecast period.
The aircraft tires market includes the tires used in military, commercial, and general aviation aircraft. The market study also includes the sales of retreaded tires and aftermarket sales of tires.
Report scope can be customized per your requirements. Click here.
The commercial segment of the market, currently, has the highest market share, and is expected to register the highest CAGR during the forecast period. There is a steep rise in air travel in the past five years. Airlines, in order to increase their market dominance, are expanding and introducing new routes, which has generated the demand for new aircraft. Additionally, the growing success of LCC in emerging economies has also increased the sales of single-aisle aircraft, over the years. In addition to these, the demand for wide-body aircraft has been increasing for longer routes. Procurement of new aircraft will simultaneously generate the demand for new tires. Also, aircraft tires are subjected to a high amount of impact force on landing, as they, unlike the other land vehicle tires, are prone to high impact velocities. The tire also has to bear the whole weight of the aircraft, during contact with the land surface, making them more susceptible to wear and tear. This generates the need for replacing the tires of commercial aircraft, after more than 200 landings, in order to avoid accidents due to wear and tear of tires, which will further strengthen the growth of the aftermarket segment of commercial aircraft tires.
To understand key trends, Download Sample Report
The Asia-Pacific region is anticipated to have the highest growth during the forecast period. Airlines in this region are investing to procure newer generation aircraft. The growing tourism in countries, like China, India, Indonesia, Singapore, South Korea, Malaysia, Thailand, Australia, and Vietnam, has increased the passenger traffic of this region. The aviation market in the Asia-Pacific region is expected to move ahead of the North American aviation market in the next few years. Sensing potential in the aviation market of Asia-Pacific, several companies are expanding their operations in this region. For instance, in March 2018, Lufthansa Group announced its plans to expand its operation in countries, like China, Japan, Southeast Asia, and India. Additionally, the poor connectivity between the metros and smaller cities, have led to growth in the general aviation segment of the region. With increasing military spending, fueled by growing political tension in the region, on-going procurements of military aircraft, along with increasing manufacturing capabilities of the region are boosting the growth of the region, during the forecast period.
To understand geography trends, Download Sample Report.
The prominent players in the market of aircraft tires are Bridgestone Corporation, Michelin, Goodyear Tire and Rubber Company, Specialty Tires of America Inc., and Dunlop Aircraft Tyres Limited. In the commercial and military segments, Michelin and Goodyear Tire and Rubber Company are the major players in the market, owing to their high brand value and long-term contracts, with the aircraft OEMs. Additionally, the investments of the companies in the tires for flying taxis or flying cars, which is currently in its initial stages, is expected to help the companies to maintain a prominent position in the market. Recently, Goodyear introduced its latest concept, AERO, a concept tire for autonomous and flying cars at the 2019 Geneva International Motor Show, with advanced features, like multimodal design, non-pneumatic structure, magnetic propulsion, optical sensing, and artificial intelligence. Such new concepts of tires are expected to attract new customers and help the companies gain a competitive advantages over others.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.3.3 General Aviation
5.4.1 North America
22.214.171.124 United States
5.4.2 Latin America
126.96.36.199 Rest of Latin America
188.8.131.52 Rest of Asia-Pacific
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.4.5 Middle-East and Africa
18.104.22.168 United Arab Emirates
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Bridgestone Corp
6.2.2 Cie Gnrl des Etblsmnts Michelin SCA
6.2.3 Goodyear Tire & Rubber Co
6.2.4 Specialty Tires of America, Inc.
6.2.5 Dunlop Aircraft Tyres Limited
6.2.6 WILKERSON COMPANY, INC.
6.2.7 Petlas Tire Corporation
6.2.8 Desser Holdings LLC
6.2.9 Qingdao Sentury Tire Co., Ltd.
6.2.10 Aviation Tires & Treads LLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS