Aircraft Tires Market Size
Aircraft Tires Market size was valued at around USD 2,593.6 million in 2021 and will exhibit a growth rate of over 3.2% CAGR from 2022 to 2028 owing to the increased demand for air travel.
and the growing aircraft production across the world. By 2028, aircraft tires industry size may reach 3,304.7 thousand units at an anticipated CAGR of 2.4% in terms of volume.
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The proliferation of low-cost carriers in emerging economies is estimated to increase the penetration of narrow-body aircraft tires over the coming years. The increased demand for air travel stimulates the demand for MRO services of aircraft tires to ensure safe landings and take-offs. The fluctuating raw material prices and stringent regulatory norms can restrain the aircraft tires market growth.
The increasing air travel demand has raised the average flight hours of aircraft across the world. Aircraft tires are vulnerable to very shorter landing cycles and thus need to be serviced frequently during their entire life cycle. For example, the service life of main landing gear aircraft tires is about 150 to 200 cycles whereas nose tires have a little more life than the main aircraft tires. Wear and tear or other issues associated with tires take place in the lifespan of a tire.
This may be due to various factors, such as tough landing, environment where the tires are utilized, weight of aircraft, speed during landing, condition of runway, etc. The same tire can be retreaded for as many as seven times depending upon the tire’s condition.
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Attributes of Aircraft Tires Market Report
Attribute of Report Details
Base Year 2021
Aircraft Tires Market Size in 2021 2,593.6 Million (USD)
Forecast Period 2022 to 2028
Forecast Period 2022 to 2028 CAGR 3.2%
2028 Value Projection 3,215.5 Million (USD)
Historical Data for 2018 to 2021
No. of Pages 275
Tables, Charts & Figures 475
Segments covered Construction, Product, Aircraft, Platform, End-user, Position, Region
Growth Drivers
Increasing air travel demand worldwide
Growing production of narrow-body aircraft
Rising expenditure in MRO activities of airplanes worldwide
Pitfalls & Challenges
Increasing raw material prices
Stringent regulatory norms
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Aircraft Tires Market Share
The aircraft tires industry is highly consolidated with the presence of a small number of companies around the globe. Aircraft tire manufacturers are focusing on the development of new products & technologies and enhancing their service portfolios to cater to the growing demand for aircraft tires. Enhancement of the product landscape and strategic partnerships are key initiatives in the global market.
Some of the key aircraft tires market manufacturers include
- Goodyear
- Desser Holdings LLC
- Dunlop
- Bridgestone
- Specialty Tires of America
- Aviation Tires & Treads LLC
- Michelin
- Petlas
- Wilkerson Company, Inc
- Sentury Tire Co., Ltd
The Aircraft Tires Market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million thousand units & revenue in USD million from 2022 to 2028 for the following segments
