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The Business Research Company’s Aircraft Tires Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, May 10, 2022 /EINPresswire.com/ — Technological advancements is one of the key aircraft tires market trends gaining popularity. Aircraft tire manufactures are focusing on the development of tires which have better life, higher resistance and are more efficient. For instance, US based tire manufacturing company, Goodyear showcased its ultra-lightweight Flight Radial tire. The Goodyear Flight Radial features Goodyear Featherweight Alloy Core Bead Technology, which reduces weight and provides increased landings. It is also stronger and lighter for superior service life and efficiency. The tire also contains strong, rigid tread belts with merged cord technology for dimensional stability, a higher service life and increased cut resistance.
In March 2022, Yokohama Rubber Co. Ltd., a Japan-based tire manufacturing company entered into a share purchase agreement to acquire all outstanding shares in Trelleborg Wheel Systems Holding AB for $2 billion. The acquisition is expected to provide Yokohama with a brand structure, a strong service network, and expand its regional sales network in the OE tires sector. Trelleborg Wheel Systems Holding AB is a Sweden-based manufacturer of tires and wheels for off-highway vehicles, aircraft, and other specialty applications.
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The global aircraft tires market size is expected to grow from $1.70 billion in 2021 to $1.77 billion in 2022 at a compound annual growth rate (CAGR) of 4.2%. The global aircraft tire market size is expected to grow to $2.07 billion in 2026 at a CAGR of 3.9%.
The rising number of domestic and international air passengers is driving the aircraft tires market growth. Through the increase in the domestic and international air passengers, 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 land per tire to meet the demands further drives the market. For instance, according to the International Civil Aviation Organization (ICAO), the global number of airline passengers is expected to reach 10.5 billion by the year 2040. Also, according to the Boeing 2020-2039 commercial market outlook, India’s domestic air passenger market is expected to double its size by 2030, from the pre-pandemic levels. According to the aircraft tires market analysis, the rising number of domestic and international air passengers drives the market.
Major players covered in the global aircraft tires industry are Bridgestone Corporation, Michelin Group, The Goodyear Tire & Rubber Company, Dunlop Aircraft Tyres Ltd., Qingdao Sentury Tire Co., Ltd., Wilkerson Company, Inc., Desser Tire & Rubber Co., LLC, Specialty Tires of America, Petlas Tire Corporation, Aviation Tires & Treads, LLC, Trelleborg AB, China National Tire & Rubber Co, Sentury Tire Co. Ltd., Tost GmbH Flugzeuggeratebau, and Wilkerson Company, Inc.
North America was the largest region in the aircraft tires market in 2021. Asia-Pacific was the fastest growing market in the global aircraft tires market. The regions covered in the global aircraft tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
TBRC’s global aircraft tires market research report is segmented by product into radial, bias, by platform into fixed wing, rotary wing, by application into wide body aircraft, very large aircraft, regional transport aircraft, narrow body aircraft, by end-user into OEM, retread tires, replacement tires.
Aircraft Tires Global Market Report 2022 – 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 Tires, Replacement Tires) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a aircraft tires market overview, forecast aircraft tires market size and growth for the whole market, aircraft tires market segments, geographies, aircraft tires market trends, aircraft tires market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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