Aircraft Tire Market to increase by USD 323.52 million during 2023-2028, Rising demand for landing gear retrofitting to drive the growth - Technavio
NEW YORK, Dec. 8, 2023
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
- 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.
- 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.
- 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
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.
The fighter aircraft market size is estimated to grow at a CAGR of 6.4% between 2022 and 2027. The fighter aircraft market size is forecast to increase by USD 17,696.67 million.
The aircraft evacuation systems market size is expected to increase by USD 821.11 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.36%.
Aircraft Tire Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 4.07%
Market growth 2024-2028
USD 323.52 million
YoY growth 2022-2023 (%)
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution
APAC at 36%
US, China, Japan, France, and UK
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
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.
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
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by WRITERS
Market Segmentation by Geography
Drivers, Challenges, & Trends
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