New York, NY, May 09, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Aircraft Tires Market Share, Size, Trends, Industry Analysis Report, By Type (Radial-Ply Tires and Bias-Ply Tires); By Aircraft Type; By Platform; By End-User; By Region; Segment Forecast, 2023 - 2032” in its research database.
“As per the latest research analysis, the global aircraft tires market size/share will be valued at roughly USD 2.77 Billion in 2022, and its revenue is projected to reach about USD 4.81 Billion by 2032. The market is forecasted to expand at a compound annual growth rate of approximately 5.7% between 2023 and 2032.”
How Big is Aircraft Tires Market Size & Share?
- Report Overview
Aircraft tires may be tube-type or tubeless. They reinforce the pressure of the aircraft while it is positioned on the ground and offers the required haulage for braking and stopping. The rapidly rising demand for the aircraft tires market can be attributed to it captivating the disturbance of landing and is a pillion for the severity of roll-out, take-off, and taxi functionalities. Therefore, aircraft may be meticulously sustained to execute as needed.
Currently, the market observes growth in air travel demand that enhances the production of contemporary aircraft to encounter escalating demand. This element is anticipated to escalate the demand for aircraft tires at an imposing speed. Further, the escalating military disbursement on the retention of contemporary military aircraft in advanced and advancing nations also pushes the demand.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
- Bridgestone Corporation
- Dunlop Aircraft Tyres Ltd.
- Qingdao Sentury Tires Company Limited
- Wilkerson Aircraft Tires
- Petlas Tire Corporation
- Aviation Tires and Treads LLC
- Specialty Tires of America
- The Goodyear Tire & Rubber Company
- Desser Tire & Rubber Co. LLC.
- Michelin
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Key Market Drivers
- Economical carriers: The boosting of economical carriers in surfacing nations is expected to escalate the reach of tapered aircraft tires in the near future. The aircraft tire market size is expanding due to the escalated demand for air travel, reviving the demand for MRO service of tires to guarantee secured landings and take-offs.
- Escalating air travel demand: The escalating air travel demand has rocketed the standard flight hours of aircraft worldwide. Aircraft tires are open to extremely compact landing cycles and need persistent conservation and servicing all through the lifecycle.
- Tapered body aircraft: Aircraft tires market sales are soaring due to the strong presence of extensive commercial and military aviation fleets globally, including tapered body aircraft, spacious body aircraft, and territorial transport aircraft, together with escalating figures of supposed airline classification modifying the airline sector, are prominent elements anticipated to boost the market growth.
- Civic air potency: Growing usage of civic air potency and exceedingly automated aircraft for conveying both people and consignment at extremely low altitudes and increasing existence for advancing technology involving upright take-off and landing aircraft, e-VITOL aircraft, traditional helicopters, and UAVs while powering the demand and market growth in the near future.
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Top Report Findings
- Growing usage of civic air potency and exceedingly automated aircraft for conveying both people and consignment at extremely low altitudes to drive the market growth.
- The market is essentially divided into type, aircraft type, platform, end-user, and region.
- The leading region of the market is North America.
Top Trends Influencing the Market
- Growing demand for MRO services: The growing expansion of several kinds of economical carriers, particularly in surfacing nations such as China, India, South Korea, and Indonesia, and consistently escalating demand for MRO services of aircraft tires to sanction secure landings and take-offs of aircraft are among the crucial elements impacting the global market growth.
- Commercial and military sectors: There has been a notable demand for the contemporary generation of aircraft in commercial and military sectors, together with substantial escalation on R&D enterprises of initiated aircraft tires that provide escalated suit and reassurance to travelers is also anticipated to boost the market growth.
- Technologically progressive framework: Aggressively escalating technologically progressive framework and continuing research projects together with several international universities and several eminent vendors globally for the advancement and improvisation of aircraft tires will push the market growth.
Segmental Analysis
- The radial-ply tires segment accounted for the largest market share
Based on type, the radial-ply tires segment accounted for the largest market share. Aircraft tires market demand is rising due to loftier benefits and escalated technical progressions regarding feathery and longevity, improvised propulsion, and fuel productivity with lesser carbon emissions.
- The commercial aviation segment is anticipated to grow the fastest over the forecast period
Based on aircraft type, the commercial aviation segment is anticipated to grow fastest over the forecast period. Aircraft tires market trends include the growing figure of commercial aircraft conveyance covering many nations due to increasing air passenger traffic globally. With the escalated enterprises of commercial aircraft, the prospect of wear and tear of aircraft tires is towering, thereby propelling the demand for aftermarket tires rampantly.
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Aircraft Tires Market: Report Scope & Coverage
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 4.81 Billion |
| The market size value in 2023 | USD 2.92 Billion |
| Expected CAGR Growth | 5.7% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Bridgestone Corporation, Dunlop Aircraft Tyres Ltd., Qingdao Sentury Tires Company Limited, Wilkerson Aircraft Tires, Petlas Tire Corporation, Aviation Tires and Treads LLC, Specialty Tires of America, The Goodyear Tire & Rubber Company, Desser Tire & Rubber Co. LLC., and Michelin. |
| Segments Covered | By Type, By Aircraft Type, By Platform, By End-User, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
North America: This region held the largest aircraft tires market share due to the rampant increasing disbursement of the aerospace and aviation sector, particularly in nations such as the US and Canada, where governments are extremely concentrated and conscious towards the passenger's security and accessibility.
Asia Pacific: This region is anticipated to surface as the speediest and seems to deem for notable market share over the forecast period. Prominent APAC countries such as Japan, China, and India are observing a notable escalation in passenger traffic and also increasing the aggregate of contemporary aircraft orders together with increasing concentration on more sturdy and competent to resist longer airplane take-off.
Browse the Detail Report “Aircraft Tires Market Share, Size, Trends, Industry Analysis Report, By Type (Radial-Ply Tires and Bias-Ply Tires); By Aircraft Type; By Platform; By End-User; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/aircraft-tires-market
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Recent Developments
- In July 2022, Bridgestone Corporation announced consolidating its manufacturing of aircraft tires in the APAC region. To optimize the manufacturing of aircraft tires in Asian countries, where demand is much higher, the company is consolidating BAA into its Chonburi, Thailand, manufacturing facility.
- In May 2022, the “Shuguang Rubber Industry Research & Design Institute" announced the establishment manufacturing facility for aviation tires with the "Haohua Chemical Science & Technology." The USD 96 million projects will build on the company existing production site and will manufacture around 50,000 aircraft tires annually.
Frequently Asked Questions
- What is the expected industry size of the market?
- Who are the top market players?
- Which region contributes notably towards the market?
- What will be the expected CAGR of the market during the forecast period?
- What are the key segments in the market?
- Where will industry flourish?
- How is the market growing?
Polaris Market Research has segmented the aircraft tires market report based on type, aircraft type, platform, end-user, and region:
By Type Outlook
- Radial-Ply Tires
- Bias-Ply Tires
By Aircraft Type Outlook
- Commercial Aviation
- Military Aviation
- Business and General Aviation
By Platform Outlook
- Fixed-Wing Aircraft
- Rotary-Wing Aircraft
By End User Outlook
- OEMs
- Replacement
- Retreading
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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