A recent report published by Infinium Global Research on aircraft
tire market provides in-depth analysis of segments and sub-segments in the
global as well as regional aircraft tire market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
aircraft tire market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of the global
aircraft tire market. According to the report, the global aircraft tire market
is projected to grow at a CAGR of 4.7% over the forecast period of 2019-2025.
Aircraft and aircraft component market has observed a rise owing
to increasing disposable income and drop in the price of domestic as well as
international airfare tickets. The growing demand for air travel has increased
the sale of aircraft along with the sale of aircraft components such as
aircraft tire, aircraft windows and aircraft interiors. The aircraft tires are
large of two types, namely radial and bias. The bias tires are used
traditionally, while the radial tires are the latest offering from the
manufacturers. The aircraft tire market is highly competitive and consolidated
in nature. Only a few of the major players in the market such as Goodyear Tire
and Rubber Company, Bridgestone Corporation and Dunlop Aircraft Tyres Limited
control a large part of the market share. The other key players including
Michelin Group, Specialty Tires of America, Inc., Desser Tire & Rubber Co.,
LLC and others are focusing on the development of new products and mergers and
acquisition of the raw material suppliers.
The rise in global air passenger traffic is majorly driving the
aircraft tire market. Increasing disposable income and improving the lifestyle
of the population is encouraging them to travel through the air. Moreover, the
rise in the developments in tire manufacturing is expanding the demand for
aircraft tire. Technological advancements in tire manufacturing have made
production more easy and affordable. This, in turn, reduces the prices of the
tires and boost the growth of the market. Furthermore, the growing investment
in the defense sector is supporting the growth of the aircraft tire market.
However, the concentrated nature of manufacturers is the major restraining
factor for the growth of the aircraft tire market. Nevertheless, the growing
demand for lightweight aircraft is expected to offer lucrative opportunities for
the key players in the aircraft tire market.
In terms of geography, North America held the highest market
share, dominating the global aircraft tire market. The dominance of the North
America region attributed to the growing focus of OEMs, engine manufacturers,
and component suppliers to improve the overall performance of an aircraft.
Moreover, the significant presence of global tire vendors is expected to boost
the growth of the aircraft tire market in North America. While the Asia-Pacific
aircraft tire market is anticipated to grow at the fastest rate owing to the
increase in disposable income coupled with rising business activity, which
leads to a growing number of domestic and international flights.
The report on global aircraft tire market covers segments such as
type, application, and end-user. On the basis of type, the sub-markets include
radial, and bias. On the basis of application, the sub-markets include
commercial, and defense. On the basis of end-user, the sub-markets include OEM,
retreaded, and replacement.
The report provides profiles of the companies in the market such
as Goodyear Tire and Rubber Company, Bridgestone Corporation, Dunlop Aircraft
Tyres Limited, Michelin Group, Specialty Tires of America, Inc., Desser Tire
& Rubber Co., LLC, Petlas, Sentury Tire, and other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of aircraft tire
market. Moreover, the study highlights current market trends and provides
forecast from 2019-2025. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.