New York, NY, April 23, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Aircraft Tires Market by Product (Bias and Radial), by Platform (Rotary Wing and Fixed Wing), by Distribution Channel (Original Equipment Manufacturers and Maintenance, Repair & Overhaul), and by Application (Commercial Aircrafts, Military Aircrafts, Helicopters, Spacecraft, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, global aircraft tires market accounted for USD 1.26 billion in 2018 and is expected to reach USD 1.75 billion globally by 2025, at a CAGR of 4.8% between 2019 and 2025.
Aircraft tires are specifically designed to withstand heavy load. The number of tires required for an aircraft increases with the increase in the aircraft weight. The measure for aircraft tires is the number of landings and not mileage. The average life of commercial aircraft tires is between 250 and 300 landings, whereas, for military fighter plane tires, it is between 20 and 50 landings.
Browse through 107 Tables & 34 Figures spread over 148 Pages and in-depth TOC on “Global Aircraft Tires Market Size & Share 2018 Report: Industry Type, Demand, Growth, Trends, Analysis, and Forecast to 2025”.
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The global aircraft tires market is expected to grow notably in the future, due to the ever-increasing commercial airline sector. In 2017, the commercial airline sector made a revenue of about USD 755 billion in comparison to USD 721 billion in 2015. Furthermore, the overall passenger traffic increased by 0.5% and reached 8% in 2017. By the end of 2019, this sector is estimated to reach USD 885 billion. In 2016, it was estimated that airplanes carried around 3.8 billion passengers on scheduled services, i.e., an increase of 7% from 2015. This rise in passengers will fuel the demand for new aircrafts of huge capacity, which, in turn, will drive the global aircraft tires market in the years ahead. However, strict regulations and a limited number of manufacturers are anticipated to have an adverse effect over the aircraft tires market growth on a global scale. Alternatively, technological advancements in the manufacturing process will open new avenues for the aircraft tires market globally in the future.
The global aircraft tires market is segmented on the basis of product, platform, distribution channel, and application. Based on the product, the global aircraft tires market is bifurcated into radial and bias. The radial segment is anticipated to hold a significant market share over the estimated time period. The platform segment comprises a rotary wing and fixed wing. By distribution channel, the aircraft tires market includes original equipment manufacturers (OEMs) and maintenance, repair, & overhaul (MRO). The original equipment manufacturers (OEMs) segment is projected to rise at a notable rate in the future, owing to the rising number of aircrafts manufactured. The application segment comprises commercial aircrafts, military aircrafts, helicopters, spacecraft, and others.
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North America is anticipated to hold a considerable share of the global aircraft tires market over the forecast time period. The U.S. is considered as a prime contributor to the upsurge of the North American aircraft tires market in the future, owing to the rising investments made in aerospace and defense sectors. In 2018, the U.S. Air Force declared that its inactive aviation inventory consisting of cargo, fighter planes, trainers, etc. was 1,429 as compared to 1,354 in 2017. Furthermore, the U.S. Defense Department is also planning to use technically advanced aircrafts, which will also drive the aircraft tires market.
The European aircraft tires market is driven by the rising aircraft tires demand in UK, Germany, and France. The presence of various aircraft manufacturers, such as Airbus, Dassault Aviation, and Lockheed Martin Corporation, is turning out to be a boon for the market players in the region. These organizations are focusing on expanding their business internationally, such as Airbus. In 2019, the company and “China Aviation Supplies Holding Company” (CAS) signed an agreement that covers the purchase of 300 Airbus aircrafts by Chinese airlines. This, in turn, will fuel the aircraft tires market in Europe in the upcoming years.
Browse the full “Aircraft Tires Market by Product (Bias and Radial), by Platform (Rotary Wing and Fixed Wing), by Distribution Channel (Original Equipment Manufacturers and Maintenance, Repair & Overhaul), and by Application (Commercial Aircrafts, Military Aircrafts, Helicopters, Spacecraft, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/aircraft-tires-market
The Asia Pacific region is anticipated to witness a substantial rise in the global aircraft tires market over the estimated time period. China and India are considered to be the major countries in this region. It is estimated that in the next 20 years, China will need about 7,400 new passenger and freighters aircrafts along with representing about 20% of the global demand for new aircrafts over the same time period. Furthermore, it is projected that the ever-growing Indian aviation industry will need about 2,300 new planes over the next two decades. Thus, the demand for aircraft tires in the Asia Pacific region will increase in the upcoming years.
The Middle East and Africa is anticipated to make important contributions to the rise of the global aircraft tires market over the estimated time span. UAE is one of the key countries for market developments. Numerous tire manufacturers, such as Goodyear Tire & Rubber Company, Bridgestone Corporation, and Michelin, are focusing on offering tires through third-party distributors in UAE. The aircraft tires market in Latin America is driven by the growing demand in Brazil and Argentina. Brazil’s major airplane manufacturer, Embraer, one of the largest airliner manufacturers, is a customer of Goodyear.
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Some major players of the global aircraft tires market are Goodyear Tire & Rubber Company, Bridgestone Corporation, Michelin, Dunlop Aircraft Tyres Ltd., Wilkerson Company, Inc., Desser Tire & Rubber Co., Petlas Tire Corporation, Qingdao Sentury Tire, Aviation Tires & Treads, and Specialty Tires of America, Inc.
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This report segments the global aircraft tires market into:
Global Aircraft Tires Market: Product Analysis
- Bias
- Radial
Global Aircraft Tires market: Platform Analysis
- Rotary Wing
- Fixed Wing
Global Aircraft Tires Market: Distribution Channel Analysis
- Original Equipment Manufacturers (OEMs)
- Maintenance, Repair, and Overhaul (MRO)
Global Aircraft Tires market: Application Analysis
- Commercial Aircrafts
- Military Aircrafts
- Helicopters
- Spacecraft
- Others
Global Aircraft Tires market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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