The global aircraft tires market size 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 global aircraft tire market size is expected to grow to $2.07 billion in 2026 at a CAGR of 3.9%.
What is the Global Aircraft Tires Market?
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.
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What drives the Global Aircraft Tires Market?
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.
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Global Aircraft Tires Market Segments
The global aircraft tires market is segmented:
By Product: Radial, Bias
By Platform: Fixed Wing, Rotary Wing
By Application: Wide Body Aircraft, Very Large Aircraft, Regional Transport Aircraft, Narrow Body Aircraft
By End-User: OEM, Retread Tires, Replacement Tires
By Geography: The regions covered in the aircraft tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Aircraft Tires Global Market Report 2022provides market size and growth forecasts for the global aircraft tires market, global aircraft tires market share, aircraft tires market segments and geographies, aircraft tires market competitive landscape including leading competitors’ revenues, profiles and market shares. The aircraft tires market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Aircraft Tires Industry Playersinclude Bridgestone Corporation, Michelin Group, The Goodyear Tire & Rubber Company, Dunlop Aircraft Tyres Ltd., Qingdao Sentury Tire Co., Ltd., Wilkerson Company, Inc., 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. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
