New York, US, May 15, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), Aircraft Tire Retreading Market Information by Process, Aircraft Type, and Region - Forecast till 2030”, Aircraft Tire Retreading Market could thrive at a rate of 4.1% between 2022 and 2030. The market size will be reaching around USD 4.4 Billion by the end of the year 2030
Aircraft Tire Retreading Market Overview :
The aircraft tire retreading market involves the refurbishment and renewal of used aircraft tires, which are an essential component of an aircraft's landing gear. The process of retreading involves replacing the worn-out tread of a tire with a new one, while the tire's casing is inspected and repaired as necessary. The retreading process provides a cost-effective solution for airlines, as it allows them to extend the life of their tires while maintaining the required safety standards.
One of the major drivers of the aircraft tire retreading market is the increasing demand for air travel worldwide. As air traffic continues to grow, airlines are under pressure to reduce their operating costs while maintaining high levels of safety and reliability. The cost savings offered by retreading tires make it an attractive option for airlines, as they can reduce their tire replacement costs by up to 50%. In addition, retreading tires also reduces the environmental impact of tire disposal, making it a more sustainable option for airlines.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | 2030: USD 4.4 Billion |
| CAGR | 4.1% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Process, Aircraft Type and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing adoption of 3D radars by airports · Rising geopolitical instabilities · Growing use of modern warfare techniques |
Market Competitive Landscape:
The affluent companies in the Aircraft Tire Retreading industry include
- Bridgestone Corporation
- The Goodyear Tyre & Rubber Company
- Michelin
- Marangoni SpA
- Wilkerson Company Inc.
- Apollo Tyre Ltd
- Aviation Tyre & Treads LLC
- SAIC
- Desser Tire & Rubber Co. LLC
- Oliver Tyre Group
- Dunlop Aircraft TyreLimited
Market USP Covered:
Market Drivers:
In many industries, technological advancements can be a major driver of growth and innovation. For example, in the automotive industry, the development of electric and autonomous vehicles has created new opportunities for companies to differentiate themselves and meet changing consumer demands. As technology continues to evolve, companies that invest in research and development and stay ahead of the curve are more likely to succeed and grow.
Market Restraints:
While regulations are put in place to protect consumers and ensure fair competition, they can also serve as a restraint on growth and innovation. For example, in the pharmaceutical industry, strict regulations around drug testing and approval can make it difficult and expensive for companies to bring new products to market. Additionally, changing regulations can create uncertainty and add costs for businesses, making it harder for them to plan for the future.
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COVID 19 Analysis
The COVID-19 pandemic has had a significant impact on the global market in various ways. The pandemic has resulted in disruptions to supply chains worldwide, making it difficult for companies to acquire raw materials, manufacture products, and distribute them to customers. This has caused delays and shortages in various industries, including automotive, electronics, and healthcare. With lockdowns and social distancing measures, many businesses have had to shift to remote work. This has increased demand for technology and software that supports remote work, such as video conferencing and collaboration tools. The pandemic has caused an economic slowdown worldwide, with many businesses experiencing a decline in revenue due to reduced demand and decreased consumer spending.
Market Segmentation
By Process
The process in the market include Pre-Cure and Mold-Cure
By Aircraft Type
By Aircraft Type the segment includes Commercial and Military
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Regional Insights
The North American market, which includes the US, Canada, and Mexico, is one of the largest and most developed markets in the world. The region has a highly developed economy and infrastructure, making it an attractive market for a wide range of industries. The North American market is characterized by high levels of innovation, technological advancement, and strong consumer demand.
The European market is made up of many diverse countries and cultures, but it is bound together by a common currency and strong trade relationships. The European Union (EU) is a key economic and political force in the region, and it has created a single market that allows for the free movement of goods, services, capital, and people. The European market is known for its highly educated and skilled workforce, its focus on sustainability and environmentalism, and its strong social welfare systems.
The Asia Pacific region includes countries such as China, Japan, South Korea, India, and Australia. The region is home to some of the world's fastest-growing economies and is a major center of manufacturing and trade. The Asia Pacific market is characterized by a large and growing middle class, rapid urbanization, and a focus on innovation and technology. The region also has a large and young population, which is expected to drive consumption and demand for products and services in the coming years.
Recent Development: March 2022
Yokohama Rubber Co. Ltd., a tire manufacturer based in Japan, entered into a share purchase agreement, wherein the company will pay $2 billion to acquire all outstanding shares of Trelleborg Wheel Systems Holding AB
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