Aircraft Tires Market Growth, Overview with Detailed Analysis 2023-2029
Aircraft Tires Market Overview
The analysis offers valuable insights for businesses and investors seeking to capitalize on the market's potential opportunities.
The comprehensive Aircraft Tires Market report, conducted by Maximize Market Research, provides a detailed regional analysis and competitive landscape. Projections indicate substantial market growth, with revenues expected to surge to reachUS $ 1.55 Bn. in 2022., at an impressive CAGR of 5.1% during the forecast period.
Aircraft Tires Market Scope and Methodology
The Aircraft Tires Market report offers insights into current trends, key highlights, drivers, challenges, and restraints. It includes market size estimations and growth rates during the forecast period. A thorough report includes the drivers, restraints, opportunities, and challenges of the Aircraft Tires market. To understand Aircraft Tires market estimations and growth rates, a bottom-up approach was used in the report. The technology adoption, financial standing, portfolio, merger and acquisition, joint ventures and strategic alliances are covered in the competitive environment for the Aircraft Tires market. Regional analysis of the Aircraft Tires market was conducted at a local, regional and global level to understand the Aircraft Tires market penetration, price and demand analysis and competitive landscape. The report offers fundamental information on the Aircraft Tires market, including stakeholders, investors and new entrants used to develop marketing plans and investments.
The primary and secondary data methods were used for the data collection for Aircraft Tires Market. The primary approach includes surveys, questionnaires and telephonic interviews with market leaders, business owners, etc. and the second approach involves press news, annual reports and financial reports, white papers, etc. SWOT analysis is used to identify the threats and weaknesses of the market while PORTER is used to determine the competitive intensity of the industry in the Aircraft Tires Market
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Aircraft Tires Market Dynamics:
The Aircraft Tires market is experiencing robust growth, driven by several key factors. The increasing demand for new-generation aircraft in both commercial and military sectors is a major driver for the market. The commercial sector, in particular, has witnessed a surge in air travel, leading organizations to expand their routes and locations, thereby driving the demand for new aircraft and subsequently boosting the aircraft tires market. Additionally, heightened investments in the air defense sector, prompted by escalating geopolitical tensions worldwide, are expected to further propel market growth during the forecast period.
Advancements in tire technology have enabled them to withstand exceptionally high weights for short durations. This, coupled with improved passenger travel experiences and regional airlines experiencing higher traffic and revenues, significantly contributes to the growth of the Aircraft Tires market on a global scale.
Increasing Air Passenger Traffic:
According to the International Civil Aviation Organization (ICAO), there was a 3.65% increase in the total number of passengers carried on scheduled flights, reaching 4.38 billion in 2022. The Asia-Pacific region witnessed the highest passenger traffic during the same year. The International Air Transport Association (IATA) reported that over 4 billion passengers traveled by commercial aircraft in 2022, and this trend is expected to continue, with an estimated 8.2 billion passengers projected by 2037.
However, rising costs of raw materials like rubber, cord, nylon, and steel pose a significant challenge to the growth of the Aircraft Tire Market. Tires are heavily impacted by various weather conditions, necessitate specific skills and extensive training for operation, and are subject to legal regulations imposed by different countries. These factors are anticipated to hinder the growth of the aircraft tires market in the forecast period.
Aircraft Tires Market Regional Insights
The report provides a comprehensive analysis of various factors, including market size, growth rate, and import-export activities, across different regions. Regional analysis is conducted to assess the status of the Aircraft Tires market in countries belonging to North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Aircraft Tires market is segmented broadly into these regions, allowing for a detailed understanding of the market landscape and dynamics in each geographical area
Aircraft Tires Market Segmentation
Product Type:
The Aircraft Tires Market is segmented into Radial and Bias. The Radial segment held the largest market share, accounting for 74.3% in 2022. Radial aircraft tires are preferred for their lighter weight, high durability, and enhanced mobility. They are increasingly used in aircraft manufacturing due to these advantages. Radial tires also contribute to fuel efficiency, as they are significantly lighter than bias tires, potentially reducing aircraft weight by up to 75 kg. This results in substantial fuel savings, further driving their adoption in the aircraft industry.
Application:
The Aircraft Tires Market is segmented into Commercial, Defense, and OEM. The Commercial segment dominated the market with a share of 61% in 2022. Increased passenger air traffic has led to higher flight frequencies, reducing maintenance intervals and prompting airlines to expand their fleets. Both Boeing and Airbus are facing significant order backlogs, necessitating continuous increases in production rates. These factors are key drivers for the aircraft tires market in the commercial segment.
by Product type
• Radial
• Bias
by Aircraft type
• VLA
• NBA
• WBA
• RTA
by Platform
• Fixed
• Rotary Wing
by Application
• Commercial
• Defense
• OEM
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Aircraft Tires Market Key Players
• Michelin Group
• Bridgestone Corporation
• Goodyear Tire & Rubber Company
• Dunlop Aircraft Tyres Ltd.
• Qingdao Sentury Tire Co., Ltd
• Desser Tire & Rubber Co., LLC
• Guilin Lanyu Aircraft Tire Development Co., Ltd
• Petlas Tire Corporation
• Specialty Tires of America, Inc.
• Sentury Tire
• Wilkerson Company, Inc.
• Aviation Tires & Treads, LLC
• Compagnie Générale Des Établissements Michelin Sca
• Tost GmbH Flugzeuggerateba
• Trelleborg AB
• China National Chemical Corp. Ltd.
Table of Content: Aircraft Tires Market
Part 01: Executive Summary
Part 02: Scope of the Aircraft Tires Market Report
Part 03: Global Aircraft Tires Market Landscape
Part 04: Global Aircraft Tires Market Sizing
Part 05: Global Aircraft Tires Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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Key questions answered in the Aircraft Tires Market are:
- What is Aircraft Tires?
- What was the Aircraft Tires market size in 2022?
- What are the different segments of the Aircraft Tires Market?
- What growth strategies are the players considering to increase their presence in Aircraft Tires?
- What are the upcoming industry applications and trends for the Aircraft Tires Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Aircraft Tires Market?
- What major challenges could the Aircraft Tires Market face in the future?
- What segments are covered in the Aircraft Tires Market?
- Who are the leading companies and what are their portfolios in Aircraft Tires Market?
- What segments are covered in the Aircraft Tires Market?
- Who are the key players in the Aircraft Tires market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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