Press release
Aircraft Tires Global Market Size, Share Analysis, Growth, Drivers And Forecast 2023-2032
Aircraft Tires Market
The Business Research Company's Aircraft Tires Global Market Report 2023 identifies the rising number of domestic and international air passengers as the major driver for the aircraft tires market's growth in the forecast period. The increase in domestic and international air passengers means 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 landing per tyre to meet the demands, further drives the market.
The global aircraft tires market size grew from $1.8 billion in 2022 to $1.89 billion in 2023 at a compound annual growth rate (CAGR) of 5.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aircraft tires market size is expected to grow to $2.25 billion in 2027 at a CAGR of 4.5%.
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Major competitors in the aircraft tires market are Bridgestone Corporation, Michelin Group, The Goodyear Tire & Rubber Company, Dunlop Aircraft Tyres Ltd., Qingdao Sentury Tire Co., Ltd.,
A key trend in the aircraft tires market includes technological advancements. Aircraft tire manufacturers are focusing on the development of tyres that have a longer life, higher resistance, and are more efficient. For instance, in May 2021, Goodyear Tire & Rubber Company, a US-based tyre manufacturing company, launched TPMS technology for aircraft tug tyre manufacturing. This technology helps reduce accidents by reducing any loss in pressure or a temperature change.
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The 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 Tyres, Replacement Tyres
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the aircraft tires market.
The Business Research Company's "Global Aircraft Tires Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Aircraft Tires Market Include:
1. Executive Summary
2. Aircraft Tires Market Characteristics
3. Aircraft Tires Market Trends And Strategies
4. Aircraft Tires Market - Macro Economic Scenario
5. Aircraft Tires Market Size And Growth
……
26. Africa Aircraft Tires Market
27. Aircraft Tires Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aircraft Tires Market
29. Aircraft Tires Market Future Outlook and Potential Analysis
30. Appendix
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