NEW YORK, Dec. 8, 2023 /PRNewswire/ — The aircraft tire market size is expected to grow by USD 323.52 million between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 4.07% during the forecast period. The market is segmented by Type (Radial tire and Bias tire), Distribution Channel (Aftermarket and OEM), and Geography (North America, Europe, APAC, Middle East and Africa, and South America).
The rising demand for landing gear retrofitting drives market growth. Furthermore, the primary tire components of landing gear, include tires and braking systems. Strenuous use of these gears requires them to be maintained, upgraded, and retrofitted if necessary. Additionally, various aerospace component manufacturers are forming collaborations to develop superior aircraft components. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the aircraft tire market: Bridgestone Corp., China National Chemical Corp. Ltd., Desser Holdings LLC, Dunlop Aircraft Tyres Ltd., Hankook Tire and Technology Co. Ltd., Hey Machinery Company Inc., Michelin Group, Petlas Tire Industry and Trade, Qingdao Sentury Tire Co. Ltd., Specialty Tires of America Inc., The Goodyear Tire and Rubber Co., Tost GmbH Flugzeuggeratebau, Trelleborg AB, Yokohama Rubber Co. Ltd., Aviation Tires and Treads LLC, and WILKERSON CO INC.
- Aircraft Tire Market is fragmented in nature.
- Market to observe 3.74% YOY growth in 2024.
Market Dynamics:
Trend
- The development of electric and hybrid aircraft is an emerging trend.
- Global evolution of the global aircraft tire market as more electric and hybrid aircraft are being deployed has been witnessed.
- For instance, Hybrid solutions, such as the Ampaire Electric EEL, combine conventional and electric propulsion to increase range and lessen their negative effects on the environment.
Challenge
- The high bargaining power of OEMs challenges market growth.
- For example, Boeing and Airbus are the two major aircraft OEMs that retain supremacy in finalizing the prices of aircraft tires for their respective aircraft.
- OEMs play a significant role during the final integration of commercial aircraft.
- Moreover, they help to maintain MRO facilities, and the aftermarket price of an aircraft tire is affected by the presence of OEMs.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report
Keg Segments:
The radial tire segment is significant during the forecast period. Airbus and Boeing, use radial tires for most of their newer-generation aircraft and are some of the prominent aircraft OEMs. Radial tires are lightweight, offer superior wear resistance capacity, and can accommodate extra loads. Get a glance at the market contribution of the segments, Request a Sample.
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Aircraft Tire Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.07% |
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Market growth 2024-2028 |
USD 323.52 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
3.74 |
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Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 36% |
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Key countries |
US, China, Japan, France, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Bridgestone Corp., China National Chemical Corp. Ltd., Desser Holdings LLC, Dunlop Aircraft Tyres Ltd., Hankook Tire and Technology Co. Ltd., Hey Machinery Company Inc., Michelin Group, Petlas Tire Industry and Trade, Qingdao Sentury Tire Co. Ltd., Specialty Tires of America Inc., The Goodyear Tire and Rubber Co., Tost GmbH Flugzeuggeratebau, Trelleborg AB, Yokohama Rubber Co. Ltd., Aviation Tires and Treads LLC, and WILKERSON CO INC. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Excustive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by WRITERS
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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