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Aircraft Tires Global Market Report 2022
Major players in the aircraft tires market are Bridgestone Corporation, Michelin Group, The Goodyear Tire & Rubber Company, Dunlop Aircraft Tyres Ltd. , Qingdao Sentury Tire Co. , Ltd. , Wilkerson Company, Inc.
New York, June 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Tires Global Market Report 2022" - https://www.reportlinker.com/p06284283/?utm_source=GNW
, Desser Tire & Rubber Co., LLC, Specialty Tires of America, Petlas Tire Corporation, Aviation Tires & Treads, LLC, Trelleborg AB, China National Tire & Rubber Co, Sentury Tire Co. Ltd., Tost GmbH Flugzeuggeratebau, and Wilkerson Company, Inc.
The global aircraft tires market is expected to grow from $1.7 billion in 2021 to $1.77 billion in 2022 at a compound annual growth rate (CAGR) of 4.2%. The market is expected to grow to $2.07 billion in 2026 at a compound annual growth rate (CAGR) of 3.9%.
The aircraft tires market consists of the sale of aircraft tires by entities (organization, sole proprietors, partnerships) that help to absorb the shock generated when landing and acts as a cushion for the roughness of takeoff, rollout, and taxi operations in an aircraft. Aircraft tires are generally made of rubber, and are essential and main body part for every aircraft.
The main aircraft tire products include radial tires and bias tires.A radial tire or also called as radial-ply tire, is a particular design of vehicle tire in which the cord plies are arranged in 90 degrees to the direction of travel or radially which is the center of the tire.
The different aircraft tire platforms include fixed wing and rotary wing.Aircraft tires are used for applications in wide body aircraft, very large aircraft, regional transport aircraft, and narrow body aircraft.
The aircraft tires market end-users include OEMs, retread tires, and replacement tires.
North America was the largest region in the aircraft tires market in 2021.Asia Pacific was the fastest growing market in aircraft tires market.
The regions covered in the aircraft tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising number of domestic and international air passengers is driving the aircraft tires market.Through the increase in the domestic and international air passengers, the production of new aircraft needs to be done to meet the demand, which increases the usage of aircraft tires and also the frequent wear and tear of tires due to the continuous land per tire to meet the demands further drives the market.
For instance, according to the International Civil Aviation Organization (ICAO), the global number of airline passengers is expected to reach 10.5 billion by the year 2040. Also, according to the Boeing 2020-2039 commercial market outlook, India’s domestic air passenger market is expected to double its size by 2030, from the pre-pandemic levels. Hence the rising number of domestic and international air passengers drives the aircraft tire market.
Technological advancements is a key trend gaining popularity in the aircraft tires market.Aircraft tire manufactures are focusing on the development of tires which have better life, higher resistance and are more efficient.
For instance, in 2019, US based tire manufacturing company, Goodyear showcased its ultra-lightweight Flight Radial tire.The Goodyear Flight Radial features Goodyear Featherweight Alloy Core Bead Technology, which reduces weight and provides increased landings.
It is also stronger and lighter for superior service life and efficiency. The tire also contains strong, rigid tread belts with merged cord technology for dimensional stability, a higher service life and increased cut resistance.
In March 2022, Yokohama Rubber Co. Ltd., a Japan-based tire manufacturing company entered into a share purchase agreement to acquire all outstanding shares in Trelleborg Wheel Systems Holding AB for $2 billion. The acquisition is expected to provide Yokohama with a brand structure, a strong service network, and expand its regional sales network in the OE tires sector. Trelleborg Wheel Systems Holding AB is a Sweden-based manufacturer of tires and wheels for off-highway vehicles, aircraft, and other specialty applications.
The countries covered in the aircraft tires market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284283/?utm_source=GNW
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