The aircraft industry is one of the most growing industries worldwide. The aircraft tires are the engineered products that require precision during their manufacturing. Aircraft tires are manufactured using materials such as steel, artificial and natural rubber, nylon cord, casing plies and other chemicals. The aircraft tires market is producing tires which are economical, easy for maintenance, provide economic profit during the high-frequency routes and also require short turnaround time. The aircraft used in the military operation segment is helping the aircraft tires market grow globally.
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The increase in demand for aircraft tires around the world results in the growth of the global aircraft tires market in the near future. The main factor helping the aviation industry is the higher demand for commercial airlines. The other factors that also play an important role in the growth of this industry are increasing government expenditure on the aircraft infrastructure, aircraft traffic, and transport regulation as well as an increased growth in the GDP. The commercial segment rules the entire aircraft tires market whereas the biasing segment is expected to grow in the coming years.
The segmentation in the aircraft tires market is mainly based on the product type, end-user, application, platform, and geography. These types are further subdivided into radial, bias, retread tires, replacement tires, OEM tires, fixed wing and rotary wing. The application segment is bifurcated into commercial and defense, which is further sub-divided into regional transport aircraft, very large aircraft, wide-body aircraft, and narrow body aircraft. The regions Europe, North America, Middle East, Asia Pacific and Thailand, Malaysia and Turkey are the geographical subdivisions.
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Over the last few years, the aircraft tires market of Asia Pacific has shown higher growth mainly due to the stronger demand for commercial aircraft in this region, which on the other hand helps the aircraft tires market globally.
Market Competitive Players
The major players in the global aircraft tires market are Goodyear, Michelin, Bridgestone and Dunlop Aircraft Tires. These key players adopt a number of strategies such as manufacturing new products or signing agreements, contracts in order to become the largest market profit gainers in the global market.
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Aircraft Tires Market by Regional Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa
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