Press release
Aircraft Tire Retreading Market Surges to USD 4.4 Billion by 2030, Fueled by a 4.1% CAGR
Aircraft Tire Retreading Market InsightsAircraft Tire Retreading Market Size was valued at USD 3.2 billion in 2021. The industry is projected to grow from USD 3.3 Billion in 2022 to USD 4.4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.1% during the forecast period (2022 - 2030).
The aircraft tire retreading market refers to the industry segment that is involved in the process of repairing and reusing worn-out or damaged aircraft tires. Retreading is a cost-effective and sustainable solution that involves removing the worn-out tread from the tire casing and replacing it with a new tread, which restores the tire's performance and durability. The market for aircraft tire retreading services includes both commercial and military aircraft, and is typically served by specialized retreading companies that employ advanced technology and skilled technicians to ensure the safety and reliability of the retreaded tires.
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In COVID-19 Due to travel restrictions and reduced air travel demand, many airlines have reduced their fleet sizes and deferred maintenance and replacement of aircraft tires, which has resulted in a decreased demand for tire retreading services. the disruption of global supply chains and logistical challenges have led to difficulties in procuring raw materials and equipment necessary for retreading processes, leading to production and supply chain challenges for retreading companies. the aircraft tire retreading market is expected to recover as air travel demand gradually increases and airlines resume their operations. drivers include Cost-effectiveness, environmentally friendly, Increasing air travel, Technological advancements, Stringent safety regulations. restraints include Limited demand for certain types of aircraft, Competition from new tires, Availability of raw materials, Limited adoption in emerging markets.
Key Players
Some of the key players include Bridgestone Corporation, Michelin, Goodyear Tire & Rubber Company,
Dunlop Aircraft Tyres Ltd, Marangoni SpA, Wilkerson Company Inc., Apollo Tyre Ltd, Aviation Tyre & Treads LLC, SAIC, Desser Tire & Rubber Co. LLC, and Oliver Tyre Group.
Market Segmentation
Based on Aircraft type, the aircraft tire retreading market is classified into commercial, and military. On the basis of retreading process, the market is segmented into Pre-cure, and Mold-cure.
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Regional Analysis
North America is the largest market for aircraft tire retreading due to the significant number of aircraft operating in the region. The region has a well-established aviation industry and a large number of aircraft maintenance, repair, and overhaul (MRO) facilities that provide tire retreading services. The Asia-Pacific region is expected to be the fastest-growing market for aircraft tire retreading due to the increasing demand for air travel in the region. Countries such as China, India, and Japan are investing in their aviation infrastructure, which is driving the demand for aircraft tire retreading services.
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