A research report on the Aircraft Tires Market has recently been published by Stratview Research, which addresses the significant changes in the Aircraft Tires Market. The study's purpose is to recognize recent market sizes for various segments and countries, as well as forecast values for the coming years. This research gives an analytical review of the market’s present trend and future estimates in order to find additional opportunities. The report is meant to provide both qualitative and quantitative aspects of the market in each of the areas and countries studied.

Market Insights

The aircraft tires market which accounted for US$ 1.5 billion in 2021, is estimated to register an uncharted growth trajectory by recording a promising CAGR of 6.1% to reach a market value of US$ 2.6 billion in 2027. The recovery trajectory of tires would be different for different regions and aircraft types. 

Market Scope & Segmentation

Aircraft tires are difficult to design since they must avoid bursting, to prevent damage to the aircraft. Maintaining stability, carrying huge weight at fast speeds, and giving effective braking capabilities are significant expectations from aircraft tires. As an aircraft's weight increases, the number of tires required grows as the weight must be spread more evenly.

Aircraft tires are designed to carry heavy weights for short periods. Increasing air passenger traffic over the past two eons paired with frequent take-offs & landings make the tire a more important and indispensable focus area of the entire aerospace community.

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-        Assessment of the market

-        Competitive Landscape

-        COVID Impact Analysis

-        Value Chain Analysis

-        Historic Data, Estimates, and Forecast

-         Company Profiles

-        Global and Regional Dynamics

-        Future Business Scope & Opportunities Forecast

Segment Analysis

Based on the aircraft type, the market is segmented as commercial aircraft, regional aircraft, military aircraft, helicopters, and general aviation. During the projection period, commercial aircraft will continue to lead the market.

An expected recovery in air passenger traffic is likely to imprint a positive impact across the supply chain including the demand for tires. An expected rise in flying activity paired with higher wear and tear of tires is likely to drive the demand for tires at the aftermarket level. Continuous rise in military aircraft production is further estimated to drive the demand for tires in the years to come.

Based on the tire type, the market is segmented into the radial tire and bias tire. A radial tire is expected to remain the dominant as well as the faster-growing tire type in the market during the forecast period. The demand for radial tires is driven by continuous innovations targeting a reduction in weight, increased durability, and mobility. These aspects enable companies to improve fuel efficiency, tire life, and passenger comfort, resulting in higher usage of radial tires in the industry.

Based on the end-user type, the market is segmented as OE and aftermarket. Aftermarket is expected to remain the dominant segment of the market during the forecast period. The long service life of aircraft requires a large number of tires throughout its lifetime. Aircraft tires are subjected to operation in extreme temperatures and pressure.

Tires continuously degrade during take-off and landings. Take-off is the most common cause of wear & tear of tires as the aircraft is fully loaded with fuel, passengers, and luggage. Tires are already pre-heated by taxiing on the runway, making take-off more crucial leading to the wearing of tires, creating a greater demand for tires.

In terms of regions, Asia-Pacific is expected to remain the largest market for aircraft tires during the forecast period. Major countries in the region (China, India, Japan, Singapore, and South Korea) have a large fleet of aircraft in order to meet the large passenger traffic. Furthermore, these countries also generate a sustained demand for new aircraft to address the incessant rise in passenger traffic. North America and Europe are other markets and are likely to generate a sizeable demand for tires in the years to come.

Custom Research:

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Critical Questions Answered in the Report

-        What are the key trends in the Aircraft Tires Market?

-        How the market (and its various sub-segments) has grown in the last five years and what growth trajectory will it follow in the next five years?

-        On what scale has COVID-19 impacted the Aircraft Tires Market?

-        What are some key strategies adopted by the market leaders in the Aircraft Tires Market?

-        How much share of the Aircraft Tires Market do the top players own?

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