DUBLIN--(BUSINESS WIRE)--The "Aircraft Tires Market by Type (Radial-ply and Bias-ply), Aircraft Type (Business and General Aviation, Commercial Aviation, Military Aviation), Platform (Fixed-wing and Rotary-wing aircraft), Position, End-User, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Aircraft Tires Market size is projected to grow from USD 1.4 Billion in 2022 to USD 1.6 Billion by 2027, at a CAGR of 2.9% from 2022 to 2027.
The Radial Ply Tires segment is projected to dominate market share in the system segment during the forecast period
Based on type, the radial ply tires segment is projected to dominate market share during the forecast period. The market is further segmented into radial ply and bias ply tires. Improved traction and cut-resistance properties, overall fuel-efficiency with lower carbon emission, and better technical and design advancements in terms of light weight and durability are the elements that fuel the market growth of radial ply tires.
The Commercial Aviation segment projected to lead Aircraft Tires market during the forecast period
Based on Platform, the commercial aviation segment is projected to lead the Aircraft Tires market during the forecast period. Increase in the demand from airlines for commercial aircraft in order to satisfy the demand for the air traffic will influence the market.
The Fixed-wing segment projected to lead Aircraft Tires market during forecast period
Based on Platform, the fixed-wing segment is projected to lead the aircraft tires market during the forecast period. A growth in intercontinental and long-haul flight operations will spur demand for fixed-wing aircraft deliveries and, consequently, influence the aircraft tires industry.
Retreading segment is expected to account for the largest share in 2022
Based on End User, the retreading segment is projected to lead the aircraft tires market during the forecast period. The demand for this segment is being driven by the less expensive and more environmentally friendly replacement for new tires. Rethreads also give customers financial advantages owing to lower cost per mile and environmental advantages due to large raw material reductions, which will support market expansion.
Main Landing Gear segment is expected to account for the largest share in 2022
Based on Position, the main landing gear segment is projected to lead the aircraft tires market during the forecast period. The main landing gear tires are more load- and pressure-rated to endure rough terrain. Additionally, the market growth of the main landing gear tires is influenced by the increase in demand for narrow and wide body aircrafts, which typically deploy 4 to 20 tires for the main landing gears.
North America is expected to account for the largest share in 2022
The Aircraft Tires market industry has been studied for North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for the largest market share in 2022, and Asia Pacific is projected to witness the highest CAGR during the forecast period. The increasing need for air travel in the area is expected to increase demand for commercial and general aviation. Major airlines will expand their fleet size to satisfy demand, which will have an impact on the region's market for airplane tires.
Market Dynamics
Drivers
- Large Existing and Growing Commercial and Military Aviation Fleets
- Growth in Air Travel
- Energy Efficiency and Reduced Carbon Emissions
Restraints
- Stringent Aviation Regulations
- High Cost of Tires
Opportunities
- High Growth in Emerging Markets
- Growth of Uam and Aam Solutions
Challenges
- Reductions in Weight and Cost
Companies Mentioned
- Aircraft Spruce and Specialty
- Aviation Tires and Treads, LLC
- Boeing Distribution Services Inc. (Formerly Aviall)
- Bridgestone Corporation
- Desser Aerospace
- Dunlop Aircraft Tyres Ltd.
- Goodyear Tire and Rubber Company
- Guilin Lanyu Aircraft Tire Development Co. Ltd.
- Michelin
- Petlas Tire Corporation
- PGZ Stomil Poznan S.A.
- Qingdao Sentury Tire Co. Ltd.
- Specialty Tires of America, Inc.
- Watts Aviation Aircraft Tires
- Wilkerson Aircraft Tires
For more information about this report visit https://www.researchandmarkets.com/r/8rd8m6
