The aircraft tire market is poised for significant growth, with projections indicating it will reach a value of USD 3.3 Billion by 2033. This promising forecast is driven by an impressive CAGR of 6.2%. Factors contributing to this expansion include advancements in tire technology, increasing global air traffic, and a rising demand for both commercial and military aircraft.
As airlines and aircraft manufacturers strive for enhanced performance and safety, the market for high-quality, durable aircraft tires continues to expand, reflecting robust industry health and innovation.
Request for a Sample of this Research Report
https://www.futuremarketinsights.com/reports/sample/rep-gb-6112
The demand for aircraft tires is expected to rise due to advancements in tire manufacturing technologies, including the utilization of next-generation materials such as synthetic elastomer rubber and cross-linkable rubber. These materials offer enhanced durability and contribute to improved fuel efficiency by reducing tire weight. Additionally, the growing demand for aircraft in both combat and non-combat operations in the defense sector, coupled with increased government investments in aviation infrastructure, is expected to drive the market forward.
The current global aviation market is experiencing a surge in air travel demand, leading to increased production of new aircraft to meet the growing needs of passengers. Consequently, this is expected to drive the demand for aircraft tires at a rapid pace. Furthermore, the rise in military spending for the acquisition of advanced military aircraft in both developed and developing regions is contributing to the increased demand for aircraft tires. Additionally, the demand for cost-effective aircraft tires is anticipated to fuel overall market growth during the forecast period.
Key Takeaways from the Aircraft Tire Market Report:
- The United States aircraft tire market is expected to grow with a CAGR of 6.1% during the forecast period.
- The market in Germany is expected to grow with a CAGR of 6% during the forecast period.
- By sales channel, the aftermarket sales segment is projected to grow with an impressive CAGR of 7.5% during the forecast period.
- The market in China is expected to grow with a significant CAGR of 6.3% throughout the forecast period.
Competitive Landscape:
The market for aircraft tires is highly competitive, with numerous prominent industry players making substantial investments in their production.
The aircraft tire market is dominated by leading key players such as Bridgestone Corporation, Goodyear Tire & Rubber Company, Compagnie Générale des Établissements Michelin, and Dunlop Aircraft Tyres Limited. Other significant contributors include Polymer Enterprises Inc., Maxam Tire International, Specialty Tires of America, Petlas Tire Corporation, and Aviation Tires & Treads. These companies are at the forefront of innovation and quality, ensuring reliability and performance in the demanding aviation industry. Their continuous investment in research and development underscores their commitment to advancing aircraft tire technology and maintaining a competitive edge in the global market.
Some recent developments in the market are:
- Bridgestone announced its plans to streamline the manufacturing of aircraft tire retreading in the Asia-Pacific region in July 2022. To enhance efficiency, they consolidated production at their Chonburi, Thailand facility (BAMT), which already produces retreaded aircraft tires, incorporating operations from Bridgestone Aircraft Tire Company Asia (BAA).
- In May 2022, Shuguang Rubber Industry Research & Design Institute, a subsidiary of ChemChina specializing in aircraft tires, was meant to join forces with engineering company Haohua Chemical Science & Technology to establish a state-of-the-art production facility for civil aviation tires.
- In June 2020, a collaboration between Japan Airlines and Bridgestone Corporation was announced, focusing on the implementation of tire wear prediction technologies.
- In April 2022, Goodyear Tires made an exciting announcement to produce military aircraft tires using a unique and sustainable source of rubber derived from dandelions. As part of their commitment to using eco-friendly materials, Goodyear will harness natural rubber derived from the Taraxacum kok-saghyz species of dandelions for the manufacturing of these tires.
Seize the Opportunity: Get Report Now for a Thorough Report
https://www.futuremarketinsights.com/checkout/6112
More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global aircraft tire market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the aircraft tire market, the market is segmented on the basis of aircraft type, ply type, sales channel and region.
Aircraft Tire Market Segmentation:
By Aircraft Type:
- Small Widebody Aircraft
- Medium/ Large Widebody Aircraft
- Narrowbody Aircraft
- Propeller Aircraft
- Helicopter
- Defense and Homeland Security Aircraft
- Freighters
By Ply Type:
- Bias Ply
- Radial Ply
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube