June 08, 2020
According to the research report titled ‘Aircraft Tires Market Size By Construction, By Product, By Aircraft, By Platform, By End-user, By Position, Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global aircraft tires market is expected to record considerable growth between 2020 and 2026.
Increasing production of commercial aircrafts along with advancements in aircraft tire technology are major factors driving the market growth. These tires play a vital role in supporting the weight of the aircraft while landing and when on the ground. They provide with necessary traction that to brake or stop the aircraft. Moreover, aircraft tires absorb tremendous shock during landing, taxi operations as well as help in smooth takeoffs. These tires are designed to sustain a wide range of dynamic and static stresses under various operation conditions. Focus towards replacing the ageing fleet is boosting the demand for aircraft tires.
By construction, bias/ply tires segment is predicted to expand with a CAGR of 3.9% during 2020 and 2026, primarily due to their high durability and re-treadability.
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Based on the product landscape, tubeless tires segment held 75% market share in 2019 and is expected to register significant growth in the ensuing years. These tires are made of low permeable rubber and are comparatively thick. They are widely adopted instead of tube-based tires and contain nitrogen or inflation air within which is kept from leaking through carcass plies.
As per aircraft type, helicopters segment is predicted to hold 0.95% market share by the year 2026, since wheeled helicopters are less popular in aerospace sector.
In terms of platform type, fixed wing aircrafts segment share is expected to grow with a CAGR of 2.9% and generate revenues worth USD 3.4 billion by the year 2026.
Citing the end-use landscape, aircraft tires market from OEM segment is anticipated to witness a y-o-y growth rate of 2.1% between 2020 and 2026.
As per the regional analysis, Middle East & Africa aircraft tires industry is slated to record a 4.9% growth rate through 2026.
Key manufacturers in global aircraft tires market are Specialty Tires of America, Michelin, Dunlop Tires, Bridgestone and Goodyear among other. While key distributors and suppliers in worldwide aircraft tires market are Safari Aviation Services, Sofema, KADEX Aero Supply, DMI Aviation Sales Corp., Airline Management Support Ltd., Aircraft Spruce & Specialty Co., Martin Industries, Avioparts, Desser Aerospace and Wilkerson Co. Inc.