Aircraft tires are computer-designed, sophisticated, and multi-component products, which are produced using various materials such as steel, rubber, fabric, and chemicals. They are designed to carry heavy loads at high speeds in the smallest & lightest configuration possible. Proper selection & maintenance of tires significantly increase the safety & performance of an aircraft. Aircraft tire tread pattern is designed to enable stability in high crosswind conditions to expand traction and grip and channel water away to prevent hydroplaning. The normal life span of the commercial aircraft tires is around 250 and 300 landings, whereas for military fighter plane tires is between 20 and 50 landings.
According to study, “Aircraft Tire Market Information Report by Product Type (Bias Ply, Radial Ply), By Aircraft Type (Commercial Aircraft, Military Aircraft, Business & General Aviation Aircraft), By End-User (Aftermarket, OEM) and by Region – Global Forecast to 2023” the key companies operating in the aircraft tire market are Dunlop Aircraft Tyres Ltd., Bridgestone Corporation, Wilkerson Company Inc., Desser Tire & Rubber Co. LLC, Petlas Tire Corp., Qingdao Sentury Tire Co. Ltd., The Goodyear Tire & Rubber Company, Aviation Tires & Treads LLC, Specialty Tires of America, Inc., Michelin, Desser Tire & Rubber Co.
Based on product type, aircraft tire market is segmented into radial type and bias type. The radial segment dominates the market owing to growth in innovations in the tire industry to deliver advanced durability & maneuverability and to minimize tire weight. Based on tire assembly, market is segmented into tubed tires and tubeless tires. Based on tire tread, market is segmented into retreated tires and new treaded tires. Based on aircraft platform type, market is segmented into rotary wing aircrafts and fixed wing aircrafts. Based on distribution channels, market is segmented into Maintenance, Repair, and Overhaul (MRO) and Original Equipment Manufacturers (OEMs). In addition, based on application, market is segmented into military aviation and commercial aviation. Commercial aviation segment includes wide body aircraft, narrow body aircraft, very large aircraft and regional transport aircraft.
The aircraft tire market is driven by frequent wear & tear of tires, followed by increase in demand for new aircraft and rise in developments in tire manufacturing. However, high cost of aviation tires and limited number of manufacturers may impact the market. Moreover, high growth in emerging markets and rise in scope for new airlines & tire manufacturers in Asia are key opportunities for market.
Based on geography, the North-American region holds major share, followed by European region in aircraft tire market owing to presence of major aircraft OEMs, tire manufacturers, tier players, raw material suppliers, and airlines in the region. The Asian-Pacific region is predicted to witness considerable growth rate due to increase in number of domestic & international air passengers and rise in disposable income coupled with growth in business activities over the forecast period. In upcoming year, it is expected that future of the market will be bright on account of surge in number of budget airlines and relaxation in regulation in the aviation industry during the forecast period. The market is probable to reach the value of US $1,525.6 million by the end of 2023 by growing at a CAGR of 4.29% during the forecast period (2018-2023).
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